The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-02-16

throughout, and heavy declines began
early and, with slight fluctuations. con
tinued throughout the day, although at the
close prices were considerably tirmer
The failure of Kenyon & Co., an
Old and well-known firm, involved
very large interests, and caught
most of the heavy operators for greater or
less amounts. A gentleman who had re-
Gently been in their confidence and employ
stated that he believed they were short
from i,000, 200 to 100000 bushels of wheat.
The rapid decline prevented them from
closing out, when their margins were
exhausted, and securing remittances to
meet the great draft upon them. Their
lallnre was more disastrous and had great
er elect on prices because of being so wide
" distributed among members of the board
The effect was felt not only in wheat and
corn, where the major part of their deals
were, but in oats and provisions. Although
the heavy selling movement in all these
markets was influenced largely by the
spring-like weather, wheat was demoralized
ny the uniayorable foreign as well as local
influences. The market opened irregularly
with some sales of higher than
Yesterdays call, advanced another 4,
to I, then ruled steady, but after few sales
began to weaken and declined 81,
prices sometimes dropping to 7, with few
transactions, The final close was Al lower
Tor March and April and ~ for May,
thah Yesterdays prices. On call
mere was scene of great excitement.
Blocks of quarter of Il million were sold
at one time, and there were few sales less
than 100000 bushels. Recorders were un-
able to take down sales as fast as made, and
nnes We're imposed for an improper display
OF anxiety on the part of bidders Prices,
held up under the steady hammerng
and toward the close advanced smartly.
Sales were reported at 100000 bushels.
Corn was unsettled and weak throughout,
prices advancing at the opening l(Ig and
then immediately dropping, with II few
fluctuations, 2lM2!. Inquiry was moder-
ate, and caution prevailed, although foreign
advlces were stronger. Prices closed l261I
below those Of yesterday. Call sales reached
10000 buhels and prices
were generally little higher.
but shared the general depression and sale 9
and offerings were small, the decline
amounting to l@llc. Pork was unset
tied and irregular finally closing
at Sl.26di.i 10 lower, with enor-
nous sales, wild fluctuations and q
general .panicky and unsettled market.
Lard followed the pork decline, being
3WCdlO without any particular features OF
interest. On call there was fair recovery
| of prices, which advanced about 30 on pork
and 10 on lard. Sales were large. There
Is good deal of uncertainty MS to the
amount involved in Kenyon Il Co. s failure,
even among members OF the firm. One of
the firm say, counting customers who
were slow in responding to the cill for mar
gin, are expected to come in shortly; also,
that the firm will pay dollar for dollar and
resume. Another member OF the firm is
quoted as saying that the failure involved n
quarter of million dollars, and
that they cannot continue business,
Kenyon himself Is absent from the
city. The uncertainty as to the amount in
volvcd arises from the lack OF information
about prices at which deals were closed, and
Kenyon IL Co. and their friends have been
/ persistent 'bullsn on the market. They
Jailed once before some years since.