Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1872-08-30

began to look askance at each other, and
question the solvency of those with whom
they had dealings. Those having wheat
to dispose of, and those coming in pro-
posed to deliver according to contracts
made as far back rs July, and continuing
right up to to-day, paused on the thresh-
old of turning over their property to buy
ers. Doubt spread few felt quite certain
who was solvent and who was not, and the
crisis was FASTENED, Mr. Sturgis calling
for 100000 margins, which he was JUS.
tilted by the late decline, in doing In
response to his call not a dollar was forth
coming, and thus it became known, be-
yond doubt, that Lyons, in his fall, had
dragged with him the entire ring, and
that the latter, in their turn, had pulled
down many of the outsiders of whom they
were purchasing and whom they were
fiow unable to pay, goodness only knew
how mafiy. The question was then
squarely faced men asked each other
plump and plain how they were affected,
and reserve was no longer eff
fected. In short time it was stated
that twenty-five to thirty houses were
going, if not gone, and that the following
had certainly suspended payment for the
present: j. B. Lyon, ]. d. Dumond, r.
s. Jennings, Hugh Maher, Murgrede &
Peabody, Macdefmid Il Ortell, w. ].
Templeton, j. G.. Guthrie, q r. Bros.
seau, Nelis, Romaine & Co., Underwood
e Co., d. G. Scranton. Of these several
said they expected to resume, as already
noticed, and they probably will, in few
days, pay every cent they owe, although,
III the majority of cases, they were badly
hurt by the FIRE as well, and had only just
begun to recover from the effects of that
crushing blow. AS soon as the knowl-
edge of these failures had become gener-
ally known great excitement prevailed.
Outsiders hesitated not to tell the ring
men that they had been pursuing dis
honest and immoral course, and it hav-
ing transpired that in more than one in
staiice certain spectators had been in the
habit of neglectltig to put, up their mar
gins, as required by the rifles OF exchange,
the Indignation became wide spread, al
though no actual violence was done.
Meanwhile trade had practically ceased:
Those who had wheat to deliver declined
to deal until matters should straighten
out somewhat, and those who already
found themselves the creditors OF insolv-
ent firms, naturally became cautious
as to further transactions. 1t VIII
not be known till late at night
WndJ duulJlOudl ul"o uo'S bNHS
under, but it is apparently but too
probable that some thirty will be an
nounced, many of them being those VINO
were quite innocent of participation IN
the ring. The total amount involved in
the failures of those whose names are
given above, is estimated in the neighbor-
hood of three quarters of a million, as
most of them possess considerable assets,
and several only need time to realize to
be able to resume.
The market this morning opened at
$1.27, but almost Immediately fell to
81 "a and then to 81. II, but by some des
perate management rose to $1.2316; at
this time the failure of several firms be-
came known, and the price fell instantly
to $1.111s. Sales were afterwards made
at $1.13, and at a o'clock II, 900 bushels
were sold at that price, with the prospect
of rally of &c in the course of the
afternoon.
1t is roughly estimated that oinoo the
commencement of the corner the opera
tors thereof have, without any outlay, Sc
cured from $3.50, 900 to $500, 200, forced
from the shorts.
OF those who are reported down d. G.
Scranton, McDermott Il Ortell, d. L. I'm
derwood & Co., announce that their sus.
pension is only temporary.
Such panic has never before been
known upon Change. The CONSERVATION
to-day was as great as that exhibited at
the first meeting of the Board after the
fire of last October.-ChicagO Post, August
20.