, 1880-12-22
,,v Did Tho Bcs! 1hoy Could, but Their Cor.
respondents Failed Them.
rim Condition Of tho Firms Which Went
Down Monday.
Failure at st. Louis rretipllaied BY Tho Decline
In Mhcat-Panle In milwaukee.
CHICAGO.


vheat market ind closed yesterday after
mon. but things wero found to bo rctnark-
.bly steady, ntld tho point Of chief Interest
I'm wheat market-nctuntly advanced from
haf 10 ftyc-eighths OF cent under free
b,,ypg orders from the outside, seconded by
rather liberal covering OH the pnrt of local
shorts when they found that thoro was no
further drop IN prices. J
TIE SECOND DlsArro1STMEST
tamc lust about the time TINT everybody
teeu,cd to be reassured Tint there wns no fur
ther danger of trouble. About ten minutes
n II o'clock the news cAme over the wires
frorn st. Louis that the 'rm of Nansen, Bar
Holow & Co., ono of tho heaviest there, 1iai
filled. Thts created intense excitement. Tho
market had stood, Just before the receipt of
ube news, Mt OK cents bid for February. III
about minute afterwards It ha.l dropped tu
FREQ sellers Mt GI16 cents, With several trais-
actions at.W cents, and, scarccly salo ne~
utes afterwards lnargtn.tlckets were, flying
sroll]ld thorootn ns tll!ck rs nutllMN leaves,
md everybody stood nghast at the prospect
Of another panic. 1t was soon ascertalhed
that Gle firm,
GARDNER, STONE 4 co., wE1trs OBLIGED 70
SUSPEND,
md on the strength OF Tits the market
dropped still further, to 9734 cents for Feb
ruary. with reports TINT tWO or tlfee salcs
wero made at o1 cents. Iisls imrtllaf efeaK *
w. %as ,vLaSt thnt wrr'. m irnwr On to market by
to.e .o1as ~ t,osa vic Ind expected to deliver il
n;hcrs nu :" who % %nreferred selline 10 putting up
ys,c.1 ~ n5,tit,nno, MU mnrnina cniicI fnr' -
During iii ills time, OF rntler this little
Tine, for 1t WIS DULY tho work nf 4 toW ihlIi-
utes. violent excitenent retgned, and rttti.ors
%hspvq # 45fs u ons e II mos "sas cases ''ds hs
eIsn Even by Innuendo. OF by haif-nal',silg
he firm, or III soino other Wny
which did not 1omlnally submit ttle wis.
tllat So-alltl-so iul.l actlnlIy fnltnd. Thrcu or
four minutes more sulttccl to stay tie OK
element, nnd al0mg towards noon tho 1llnr-
deti,'ltly ascertnllled among tho k,lo9winE
ones that tIlore Ind only bbur ono real fall
ure. Several firms, had, however, found It
convenient to mike what Is technically
IA TRANSFER OF r11E1n pEA1s,"-.'
-. s..a,,i,,1.,,,, ,,ot. .,.nar oua nuothcr
~ s c.nrno h. ~ thn}r feaIs hotliy aver 10 te
occ.a,nt ~ ~ onnthnr n,lrty WIN wns known to
BE- strong cnougl, to Withstand the storm. III
ih!s why the calling OF further afE,s MaS t.a
in bank to SECURE transactions WIS very much
less thNu the amount called for earlier III tho
DIV s-<,.
In the afternoon Llo WHGAb ll!AlhEt WHY
where ii close'I nj ~ bid for FeGr,lnry. After
the regular Trading wins over tho cNrbst0no
Eatlorlnc nut tho price up nomlnally about
sccnt furticr.
Tie ODcntug kilograms from Liverpool
ouoted wenkuess ll.ere, Will DECLINE Of ID
to Is ppr ul1Nrter, but tlifs wns understood to
be the consequence of tl'o Chicago decline
the previous day nid opcf"t9nT,s were a' nol ny
much allectSn ~ Inc neWs. ICY fs m''V Ne;. ~,
peeted It. Ihe hfst tasegIn,'s 1 ilonl @ Evm Ivy
York quoted an a.lynnee thoTo Or Gl,e 20 Ivy Ivy
cents PIT DSne! VIE acM f Gatvs a.' artias
Gcla nd M m.1'nntlals @ ara g9 sag ,,,ds pa'h.e hn:
settled down 70 wlthli1 ; hn;hl i."Gi m tiauf "
acels nf NJ export psls. rrifes ;noot H. 0lsE. s;.
were still too high TO peflillt alscct slin w
Ments, but tll!s Is Eenernily the cnsG T.. u!t
winter, and II Is TO meet tilis eoiit!itioM q, o
things that Chicago l,aS provided Isr ,ilanl lIl
Wo storel.oMscs. s!,pSeHils;tay, tne .so, EeM N
York market wns quoted acclaealy weak III
atestllt Of the decline here.
THE CORN MA1sKET
was affected IN synuotiy with wheat. Their
was an cnrtv n.lyal,eo Of about nj, eight, to
m1n.tnr ~ 4 c..,,r n hilslicl ri, NAV deliver,