Tuesday, May 22, 2012

Board of Trade Scalpers

Seeing that one of the guys who helped make tradingpithistory.com possible plays in a very cool vintage baseball league based upon 1886 rules along with vintage equipment, uniforms and terminology I remembered some old CBOT related baseball stuff to put up here.

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The above photo is a 1907 newspaper article which describes a game that will be played for charity between the CBOT vs Minneapolis Grain Exchange and it appears that the exchange had a ball team many years before.  A recent SEC comment letter (which is worth reading as well regarding post-flash crash implications) makes reference to the Board of Trade Scalpers and a game in 1870:

On a cloudy autumn afternoon in 1870, the Chicago White Stockings, a team that would evolve into the present day hapless Chicago Cubs, played an exhibition baseball game against a hastily assembled gang of amateurs calling itself the Board of Trade Scalpers. It was a rout. In nine innings of play at Dexter Park, next door to Chicago's new stockyards, the White Stockings crushed the Scalpers by a score of 30 to 2, likely the only time scalpers on the Chicago futures exchanges were so convincingly restrained.

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The above photo from the Library of Congress shows a 1907 Cubs game and if you click to enlarge, the section in back of home plate is named and reserved for the Board of Trade Rooters which was a fan club for the team.  One thing that hasn't changed in over 100 years is that the traders are junkies for good seats at sporting events and occupy a good portion of the supply.