New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-08-25

Coma elevator have been the subject of
much comment in the market
ms evening on opening the board showed
considerable tirmness, and quite a number
Oh buyers made their appearance. The
prices advanced two to three per cent, clos
ing nrm: The receipts were again large to-
DAY Five hundred and seventy cars were
night.
This is a special to the St. Louis Dem
0crat:
CHICAGO, August 2l.-The excitement
over the sudden collapse of the great wheat
corner has somewhat subsidized on Change,
and l have had opportunity to procure
comparative list of the killed and wounded.
The slaughter of high-headed firms has
been terrible and no mistake. So far as
heard from up TO the closing of banks to-
day, the failure of prominent firms is re-
ported as follows:
J. b. Lyon * Co, J. Diamond, McDer-
mid Il Ortel, Mugridge IL Peabody, K. S.
Jennings, Hugh Maher, J. c. Guthrie, I'm
derwood \ Co., w. T. Templeton, and a
number of smaller houses. The breaking
of the corner was caused bv the banks re,
tuslng to extend usual accommodations to
Lyon n Co, whereby they expected to pay
for and carry the cash wheat until they
could ship and draw on shipments. But
for this refusal on the part of the banks,
the ring had 1t in their power to carry the
wheat to two dollars at the end of the
month, as they originally intended. thew
holding contracts for fully three millions
of bushels more than the total receipts for
the month will probably fOOtup.
l believe yesterday will be day forever
to be remembered. The widest excitement
prevailed on Change from five TO halfpast
six o'clock last evening, and from halEpast
eight this morning till two o'clock this
afternoon. Cash wheat sold down to 81 -.
and September fluctuated between 81 o.
and 81 Il, the price varying two to four
cents every ten minutes. The furore was
understandable, men jOstling each other and
hOWIlng, with the utmost capacity Of their
lungs, their wants as either a buver or a
seller the Office messengers forcing them
selves into the crowd to deliver a notice for
more margin" to some unlucky "lOng:"
men with wobegOne faces standina@ on the
edge of the ring with hard set teeth and
fierce look, indicating the misery in their
every feature; telegraph boys running
through the crowd yelling the address Of
their messages; bank clerks madIy seeking
the owners of some Overdrawn account or
declined check; the shouts and cries of the
bulls and bears every few moments as the
market tiuctuated their way" all con
tributed to form a scene of animation and
excitement difficult to parallel.
The members Of the ring generally did
not show themselves, but their brokers that
were on the bond were eagerly beset with
all the innumerable questions naturally III
cident to the event, but could give no salts
factory answer. 1t was, on the whole, Black
Friday over again.
Hugh Maher bought 225GO0 bushels last
evening after five at 81 A down to 81 % in
his vain efforts to sustain the market, and
over 100000 bushels were purchased in
the last three days mainly at ST 48 to 81 81.
These large purchases on the part Of the
ring led Inc to believe fully that they would
have carried the deal through the month
had not the receivers put the cash wheat
on the market instead of filing their orders
with the same at the contract price. This
was a trick they had not counted on, and
they could not take it at. the price. Thus
ends in general cOntusIOn and disaster the
strongest corner ever run or attempted to
be run in Chicago.