The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-03
TICKER SERVICE CUT;
INJUNCTION GRANTED
Buffalo Firms Win First step
Against Stock Exchange
and Western Union.

BUFFALO. y. Y, Dec o.--Ju-tice Brown
in the supreme Court here has granted
temporary Injunction I'm favor OF raul
Lambert and Henry e. Tucker against tho
Western Union Telegraph Company 90
prevent discontlnuance of ticker service
under the new agreements hotwecn th"
New York Stock Exchange and the tal'-
graph companies.
The Paul Lambert Company is stock
brokerage firm with Offices IN the Ellicott
Square Henry c. Tucker and GeDtg' ~.
Tucker. under tho nrm name Of Tucker
Bro. & CO.. are similarly engaged iu
the same suite Neither concern Is q
member of the New York Stock ENcnange.
This is but "A detail of twelve year
fight we have been waring with the stock
Exchange" said Henry g. Tucker to-
night There Is a contract between the
Stock Exchange and the Western tuion
for ticker service, limited to firms po0.ed
with the exchange. The renewal ~
former similar contract which expired last
April has occasionod the necessity for the
present injunction
The action OF the Western Union IN cut
ting of the service of these two irms was
taken as the result of new arrangements
and the telegraph companies to which II
sells its quotations. These new arrange
ments are designed to stamp out the
bucket shops and otherwise prevent the
exchange quotations from getting into I'M
proper hands.
n IL learned here that the stock En-
change will make "A tcst case Of the Lam
bert suit in order to establish its right
over the distribution OF its quotations
throughout the country. Special counsel
has been engaged to conduct the night
The Paul Lambert Company is said to
be the largest concern OF Ns KIND IN me
Country While II has no connections with
any OF the important exchanges II does
An extensive business and has branches
ali over this country and In Canada
Several years ago the Chicago Board 81
Trade sued the Lambert company TO pre-
vent II from using the Board OF Trade
quotations. The Chicago board won Its
suit and has prevented the Lambert com
many from using It's quotations ever since.
The developments at Buffalo come as
| result OF the new campaign mat the
Stock Exchange Is making against the
| bucket shop evil throughout the country,
In an endeayor to stamp out the bucket
| shops the Stock Exchange has undertaken
the task Of SUPERVISING tho eubscrlbers
| IN the stock quotations service all over
| tho country Formerly the exchange sold
| the quotations ~ the telegraph companies
| and then had no further voice in the
| msr,tr Now al contracts mad" by the
| telegraph companies have to be submitted
| 10 the exchange authorities and approved
| An old contracts with the telegraph
| oon,nanies were cancelled several months
ago. The work OF considering the new
contracts which went into effect on No
yember Is now being concluded AZ
rapidly as possible by the committee on
| quotations.
! distribution Of quotations IN this city has
brought some curious results In one
! case = ticl,"r was found I'm the back room
| OF a small photographer shop uptown.
| In another cas-" the ticker company had
been supplying quotations To an analytical
| chemist On the North River. who appar-
entity had no earthly use for them him
| self.