Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-02-16
CHICAGO CHANGE.
One of The Most Exciting Days Ever
Experienced.

CHICAGO, February 15.-One of the most
exciting days ever experienced on Change
was that which closed at o'clock this after
noon. Prices were excited and unsettled
throughout, and heavy depression began
early and with slight fluctuations continued
throughout the day, although the closing
prices were considerably firmer than the
lowest The failure of Kenyon & Co., who
are an old and well-knOwn firm, involved
very large interests and caught most of the
heavy operators for greater or less
amounts. gentleman who, until re-
Gently, has been in their confidence
and employ, stated that he believed that
they were "long" on 100000 to 500, 0OO
bushels OF wheat, and, in his opinion, the
greater part was owned by the recent success
full Cincinnati clique. The rapid de-
out when the margins were exhausted, or
securing remittances to meet the great
drain upon them. Their failure was the
more disastrous, and had a greater eff
feet on prices, because of being SO widely
distributed among the members of the
board. The effect was felt not only in
wheat and corn, where the majority oil the
major part of their deals were, but in oats
and provisions. Although the heavy selling
movement in all these markets was infu-
enced largely by spring-like weather, wheat
demoraIized by unfavorable foreign as
we'll as local influences. The market opened
lrregularly, with some sales &c higher than
yesterdays call, advanced another 4@4c,
then ruled steady, but after a few sales be-
gan to weaken and declined sic from the
outside prices, the clears" having things
their own way, and prices sometimes drop
ping l94c with very few transactions. The
final close was Ale lower for March and
April and ACC for May than yesterdays
closing prices. Sales at 81 164@1 81
March, 81 1901 225 April, 81 204@1 254
May. On call there was a scene of
rare excitement. Blocks of ESQ.,
900 were sold at one time,
and there were few sales in less than 10000
bushel lots. The recorders were unable to
take down the sales as fast made, and the
fines imposed for the improper display OF
anxiety on the part of bidders amounted to
a fair days commissions. Prices held up
under steady hammering, and toward the
close advanced smartiy. Sales reported at
100000 bushels.
Corn was unsettled and weak throughout,
prices advancing only at the opening 1(9kc
and then Immediately dropping, with few
2{@23c. Inquiry was moderate,
but feeling of caution prevailed, although
foreign advices were stronger and 13(d12c be-
low yesterday. Sales at 543956sc March,
594@628c May. On call sales reached
l PFC, 600 bushels, and prices were generally
a little higher.
Oats shared in the general depression, but
sales and offerings were small, the decline
amounting to 1912c. Sales at 3Ss94 Oc
March and 424@143sc May.
Pork was unsettled and irregular, finally
closing 81 25@1 40 lower, with enormous
sales, wide fluctuations, and a general
panicky and unsettled market. Sales at
SIG 75(9l7 52l March, SIG 95@17 20 April,
S17 20917 80 May. Lard followed pork. |
ba ko;r,rx oOIDIA
ticular feature of interest. Sales at SO 40 |
(91O S2a March, SO 5000 974 April, SO 20 |
oil 124 May. On the call there was fair |
recovery in prices, the advance being about |
SOC on pork and 15c on lard. Sales we're
large.