New-York tribune., 1874-08-04
TIE CHICAGO GRAIN CORNER.
STORY OF IT'S CULMiNATION on FRIDAY.
From TIE fstcGgO Inns fiD. l.
At the opening OF do market cash corn Stood

Toe ChsGgO Inns fhJ !.
At the opening of the market cash corn stood
C cents but fell io Gi cents, and shortly aier
went down g. and by IL o'clock WAS offered at G2
crht., hut there buyers AT that hgure. The
chief OF the brokers was IN making arrange
mcEts Tor tho afternoon deliver es; which II was neceS
sary 10 complete by precisely o'clock. hine JACK
sauuicrrd the board about IL O'clock lie gave no
.ss oi cAcittmen aud u was hrH TO hnSe & rom nls
features whether he was going Ia push tue boys urher
not The dealers, meantime, lad been waiting l4r
the posting The day = receipts in order To ascertain
whether The agsresdIe amount woud De enough 10 , en-
aoc tue shorts to b1rst up the corner Under the
impression that the combination WAS showing
the white feather by reason OF ther permittlng tn9
price 10 strike 60, the market rallied again TO oh ana
finally fOaud takers at ca. The bulletin or receipts
wic was fl half hour late. showed the receipts to
br 9l9 carloads and 100000 bushels by canal About
ton had made contracts the shipment OF 1,02l5O
blshcs o. East and ~ this bore on Its face eI
dencp OF business" the fears OF the shorts began 10
rise that they would he squeezed before the c0mDlna-
zion were through with their little game Uo to this
time prices mad not varied much although the general
tendency downward About O'Clock the couDina
BEGAN TO show their hand, and waNed up TO me
fore them. IL at tins point thai the eX
element On the Board began 10 IN lnfest tseif mo
,lnr themselves wIth itrment. The Din OF the
yo.r, 3 would have shamed BaDel. From o. corn went
t. &C. tlcn tu ~ aui, finally when " King jack came
ant md announced that wanted Ia pay 3d. the aston
I-hnent was great that, fot few seconds ueath-
Ike sliiiness peryaded the spacious chamber IL TOOK
tie prokcs square oil their feet, anu II was some tluc
fore they could reSun their equilibrium ana cOnpre
hend the fact that ne was really in earnest Wr9 the
situation was finally taken in the confusion broke IortA
agan. and ran riot. Amidst frantic Iels ana hoaIse
SCREAMING corn was sold to the comqluatlon oS ho h
bears" aud taken in as large quantes as HSnt oo
offered one firm alone sod 10000 ouSheis al ooceuts'
and Others from 5000 to 1000 cdch.
When the Boari closed and the gong sounded The sig
nal for retiring tue transactlon, were sS * Un "ion M
unabated fury. Ii was next to lpossipc 10 STOP the
traitckng, infatuated had the dealers become As
O'Clock drew the excitement Oh tine day oegau
drawing to a eliminating point. The sales on Change
had been in themselves not only nosone and haa ue-
yelOpei frantic energies OF the brokers' Dut lhls
last act OF the operation was 10 ne the hn icst ro
minutes 10 O'Clock. ana 'h' ue",e,S nsSchaseo wo
made were rapidly vending their way TO surges's
Office which Is Oh Monroest, TWO DOCKS aWaS ion .no
Board and up flights OF stairs As the greater
portion OF the dealers have offices the vicinity OF the
Board Trade il was necessary for them TO arrange
blocks deliver the sales nto the nahds OF me
combination IL sile-st., from Washington u A Aad-
son. was soon hled with excited populace M's5en-
ger boys he seen emerging frOm brokers' Offices
frsnticay in the direction sturgess office, while now
and then broker himself. all perspratOn auu eAcIte
ment, would rush INTO the stteet anu n'@o % th ~,
dial climbed Ia the hour or 8, ana "heh Only
odGs tom brokers Offices of hatless and coatle~s
aud boys. such as was never seen IaS,nS sIS
curious spectator the windows on either side the
thrOnged from top to bottom the steps were
coveredln fact there were thousands OF etzen1, ue
anu women, who had congregaied TO witness the eA
citing scene At the ONCE oi me continuation 'ae OK
cteIncnt was equally intense Deliveries psgaI 70 De
uade few minutes before O'Clock, anu when tue iisi
moment arrived the vestDue was ISm ron h Tr
desk 20 the north door, each anxious 10 make ms do
livery receive his check when was IN tnrn taken
the Bank of Montreal, where IL was certled IhIee
o'clock shouted at last. and the Two doors were
messengers who had arrived too Iae III oohuoh ooi
dering on distraction. , 49,. ..,.
battle that had been fought ana tht pIoo
ability OF the rising smoke revealing large numoor oi
killed ana wounded. The damage done 10 OIohero Ny
their failure to make their deliveries to tue cqolha
tion cannot yet be- definitely decided upon, in ] I
ton to the failure OF the shorts" 20 meet ther oVhsa
tions the combination also failed To uonytr a ,'reo
anSy as were the small dealers who had sold to their
principals at So they failed to reach tc ohes oI
number Of brokers' and forfeited the same
A IN of
by the transactions OF yesterday Odt, as sc. uoo o
reported AS having been closely squeezed as 10 DO
compelled 10 suspend day TWO VIII tell the story
better. go, -, ,hoi, o, corr
held mostly by the combination. ihere were loOoOCl
bushels deliverable on opons, Iac oni"I bnt here
estimated, have fully IOOO,Vo uhuer co"'io'' o'' ~
anu 'A AN AN INTERVIEW WITH KING JACK"
from Tae ChDayo Tribune ,,
Reporer-uow many bushels of corn have tailed to be
Mr. VstTrees-About 1,5oO,OOo.'
Reporter-You have been buying largely to-uay' -,
MIR sturges-Yes; took everything there was III lhe
market bought more at 80 than al 10 cents Inc
corn undelIvered Is all July. 49,
Reporter-Were you buying on speculation vi ior ue
MI MI surges-uave already loaded for ship
nent eastward ana viii load 500 more tomorrow:
Rnporter-You are operating with the Sturgcs firm
Mr. sturges-No; I'm running the machine all alone
Several Board OF Trade men, who listening at the
time smiled il they REGARDED Jacks assertion IN the
Rsporter-DS You suppose there will be collapse
among some of the tirms over this Duslhessi
fuss but nObodys badly hurt, think,
Reporter Mcenry selling f1rycn ana got Dltten
How many bushels did he fail 10 delivery 49,
Mr. SUR ges-About 100000. but as he's broker he'll
oscane the pennlty He was selling for me direct.
| 4 wasn't n tuat business lt didut pay.
More ambiguous smilins by adjacent Board Oh TRADE
men.
R,porter-You were In with Asa Dow
Mr. sturges-Dow ran things By himself io Ikea to
| do that kind OF thing
ReporIer-What are your views relating to the future
| OF the marketf
Mr. sturges-Corn will be higher at the end OF August
han II IL now These fellows got rid of ali their
| August corn, and have notnng left but wind.