Board of Trade of City of Chicago v. McDearmott Commission Co.
| Decision Date | 02 February 1906 |
| Docket Number | 3,069. |
| Parties | BOARD OF TRADE OF CITY OF CHICAGO v. McDEARMOTT COMMISSION CO. et al. |
| Court | U.S. District Court — Western District of Missouri |
Henry S. Robbins and Kimbrough Stone, for complainant.
Harkless Crysler & Histed, for defendants.
The defendant A. M. McDearmott Commission Company is a corporation organized under the laws of the state of Missouri, and engaged in the business of buying and selling grain, provisions, stocks, bonds, and other commodities at Kansas City and other places in said state and in other states, and this suit is to restrain said corporation, its officers and agents, from using in its several places of business and distributing to others, the quotations or statements of prices of sales of grain, provisions, and other products upon the floors of the complainant's board of trade rooms in the city of Chicago, which quotations are there made by the complainant from actual sales upon its said floors, and are furnished by it to certain telegraph companies who contract with the complainant that they will furnish or transmit such continuous quotations only to those who will contract and pay therefor for their own legitimate use, and the use of their patrons, and who thus acquire the right to receive and use the same for such lawful purpose.
The bill of complaint is essentially the same as those in the cases of Board of Trade v. Christie Grain & Stock Company, 198 U.S. 236, 25 Sup.Ct. 637, 49 L.Ed. 1031 and L. A. Kinsey Company v. Board of Trade, Id. The manner in which the quotations are gathered by the complainant and the terms upon which they are delivered by it to the telegraph companies, to be furnished by them to those who will subscribe therefor, is stated in the opinion in those cases. By that opinion it is established that the complainant has a property right in the quotations so collected by it; that it may rightly restrict the use thereof for lawful purposes, without discrimination, to those who will contract and pay for such use; and that it is entitled to be protected in such rights. The defendant commission company concedes this, and admits that it has not contracted with the complainant or either of the telegraph companies for the receipt or use of such quotations, has not offered to do so, and that it has no contract right thereto; but it contends that the preliminary proofs show, without dispute that the complainant, by its contract with the telegraph companies, authorizes subscribers, for such quotations to post the same upon blackboards, and otherwise openly display the same in their respective places of business, in such manner that the public has access thereto and knows of such quotations within a few seconds after they are collected and placed by the complainant upon its boards in said rooms in the city of Chicago; that the complainant itself transmits such quotations by wire as soon as they are collected, to what is called the 'Open Board of Trade of Chicago,' to be there posted upon the boards of that company, and that they are so placed with the knowledge and consent of the complainant simultaneously with their being posted by it upon its own boards, and that by so doing such quotations become public property; that such facts distinguish this case from those in Board of Trade v. Christie Grain & Stock Co., supra, and require a determination of it different from the determination in those cases.
It is true...
To continue reading
Request your trial
-
Moore v. New York Cotton Exchange
... ... John M ... Coleman, of New York City (Oscar B. Bergstrom, of New York ... City, of ... York City, Henry S. Robbins, of Chicago, Ill., and George ... Coggill, of New York City, ... , and such other matters as relate to the trade and ... business of dealing in said commodity ... 68, 63 L.Ed. 211, 2 A.L.R. 293. And in Board of ... Trade v. Christie Grain & Stock Co., 198 ... Trade Commission Act of 1914 (38 Stat. 717 (Comp. St. Secs ... 205; Board ... of Trade v. McDearmott Commission Co. (C.C.) 143 F. 188, ... 190; ... ...
-
Associated Press v. International News Service
... ... Peter ... S. Grosscup, of Chicago, Ill. (Fred. B. Jennings and Winfred ... T. son, both of New York City, on the brief), for ... plaintiff ... a part of the newsgathering trade. Upon these propositions of ... fact are rested ... 376, 55 L.Ed. 502; ... Board of Trade v. Christie Co., 198 U.S. 236, 25 ... 198, 60 L.R.A. 805; ... Illinois Commission v. Cleveland Tel. Co., 119 F ... 301, 56 C.C.A ... [2] Board of Trade v. McDearmott (C.C.) 143 F ... 188, is probably the most ... ...
-
McDearmott Commission Co. v. Board of Trade of City of Chicago
...instantly operates as a surrender or dedication to the public of the proprietary rights of the appellee. The Circuit Court held otherwise (143 F. 188), resting its decision upon the reasoning and conclusion of the Supreme Court in Board of Trade v. Christie, supra, where it is said: 'The pl......