BOARD OF TRADE DEPARTMENTS 307 



In the organization of the Chicago Board of Trade, we find at least 

 four agencies or departments which are of invaluable consequence to 

 the growers and shippers of grain as well as to the buyers and sellers 

 in the speculative market. 



Legal Department. The first of these agencies is the legal depart- 

 ment. While such a department is necessary in the interpretation 

 and enforcement of the rules of the Board of Trade among its mem- 

 bers, and between members of the Board of Trade and parties with 

 whom they are constantly deahng, its functions would not be fulfilled 

 in the broader sense unless it went further than that. This department 

 has done more than that. Among the legal problems which it has 

 sought to solve during the last decade, none stands out so prominently, 

 or has redounded more to the benefit of all concerned, than the fight 

 against the bucket shops. When this contest began, this nefarious 

 and parasitical business was fast sucking the very life-blood out of the 

 legitimate produce exchanges of the country. Alone and at first un- 

 aided, the Chicago Board of Trade began its fight, and now the once 

 defiant and flourishing business has been swept away. 



The Transportation Department. The work of the Transportation 

 Department is under the general administration of the Transporta- 

 tion Committee of the Board of Trade. The purpose of this depart- 

 ment is : 



First — To secure the removal of discriminative rates, or unjust 

 rules or regulations against the Chicago market. 



Second — To prevent, in the making of new rates, rules and regula- 

 tions, the adoption of any that place the Chicago market at a disad- 

 vantage with other markets. 



The transportation rates of any community are of such tremendous 

 importance that some organized and efficient method of protecting its 

 interests are absolutely necessary. It is important to every shipper 

 to have such rates as will enable him to place his products into the 

 central market in competition with all shippers. The Transportation 

 Department of the Board of Trade devote their energies in the investi- 

 gation and regulation of these shipping rates. 



The Weighing Department. One of the chief complaints of the 

 average producer and shipper is unjust weights. The Weighing De- 

 partment of the Board of Trade sends out scale inspectors to shipping 

 points over the country with complete outfit for testing scales. All 



