The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1881-10-14
GRAIN DEALS
ON the Chicago Board Of TradS-Some Of
the Parties Who Got Left ON Corn.

NNN AANANH " ANS NSN A@NAN NSAtf
CmcAGO, October l3-The prevailing
tone on the Board oi Trade to-day was one
Of weakness, though several intervals of
strength occurred. The markets bobbed
up and down, but closed above the lowest
figures Of the day, There was little excite.
ment but the trading was on generous
scale. 1t was rumored that somebody was
trying to get under wheat and boost it and
many thought the kink was not shaken out
OF the corn deal. There were reports OF u
failure to put up margins, but the matter
was not regarded us serious, and no names
were given.
The news OF the suspension Of Washing
ton Butchers Sons, OF Philadelphia, was
received with great surprise on the Board;
but the matter caused very little excite.
ment, The firm has u branch house here;
but its business OF late seems not to have
been heavy, and many trades We're in ia
vor OF the house. Mr.. Darlington, who
represents the firm on Change, says the
house here has closed up its trades, and
can pay up; but he shall await instructions
from the east, lie thought the firm would
probably resume business. Mr.. Darlington
had received no information OF the cause
of the trouble beyond what had come by
telegraph, The firm might have lost by
carrying trades for customers in wheat
d1al some time ago. lie was not prepared
to sly what the losses were on the Board.
Washington Butchers Sons are said TO
have been the engineers OF the big deal in
lard which was run in Chicago in 1873 and
1870, Then they owned or contracted,
presumably for others, about all the lard
in the country. The situation became so
well known that the line of shorts never
grew to he very large, and the corner was
not Il success, Early this season the house
is understood to have operated heavily in
wheat at II loss, which Is supposed to have
eventually fallen on them. The firm il us
old us the nation itself, and u great many
pleasant memories are associated with the
name, which will probably not be allowed
to die out.
Mr. Hobbs, the chief manipulation Of the
big corn deal for New York parties, said to-
night that he intended to retire from
Board OF Trade business. He Is thorough.
ly disgusled with the action Of the Direct.
ory in fixing the margin price for corn,
and says it is lO0k ked upon very generally
as an outrage and II shame. This action,
together with the advance in the rate Of
commissions, is driving the best class Of
trade away from Chicago, and other cities
are doing the business for lower commits
siOns.
1t was reported tonight that the news
from Cincinnati was more encouraging,
and that Preston 4 MClIenry and their
customers had about agreed on some terms
OF settlement, which will be pleasing to
the creditors here
The stock Of corn now in this city Is the
largest ever known. 1t is not far from TO-.
100000 bushels, and possibly exceeds that
figure. The visible supply-that il the NJ.
grcgNte Of stocks ut all leading points, in.
cluding ChicagO-is equally excessive. II
is now not fur from 3O,OO6,OOO bushels, or
fully twice Us much us the average muxi.
mum OF several years past; and this occurs
ut the very worst time OF the year, when
We ought to be preparing 10 take in corn
during the winter months. The condition
is too much Of the artificial order to bo
consistent with tho order OF legitimate
trade, aud il is all the more to be regretted
us the threatened blockade would almost
certainly react to curtail other branches Of
business in the city.
There were good many strangers on the
floor tO-dHy. The came from surrounding
cities TO see how the land lies. Apparently
most Of them were long, and wanted to
know why the markets hHve CCascd to ad.
vance and taken the other track. They
were reluctant to give orders TO sell ut
prices which left none OF the golden castles