Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-06

directly attributed to one man, young
Carwith, bold but reckless operator, who
had been buying all the corn. He held
lines of November futures, but also dipped
into year corn. November proved prfita-
bic, and on the last days of that month
corn sold on account of the corner, at
6S4c bushel. Or rather this was the
price last Tuesday. Wednesday was the
last day of the month, but the price broke
before that, though slightly. The longs
had bought heavily of cash corn seller
November and created large short inter
est which kept the price for that month at
from 8d9c bushel higher than Decem-
Der or year corn. With the
close of the month and the settlement
of the deal this premium naturally
disappeared, and the price of cash declined
to nearly the price of seller the year and
December. The decline last Friday was &c
and on Saturday SIC more. Yesterday the
decline was about 1c. There were deliv-
cries of larger lines of cash corn on We'd
nesday, and much of this was thrown on
the market Friday along with big receipts.
The latter have kept up for days, and there
is no certainty as to when they will he
checked.
OF the Kreigh & Davis failure there is
little new. A meeting of the members Of
the board who were interested in the af-
fairs of the firm was called to-day by some
parties unknown. At this meeting A. NJ.
Wright was elected chairman. The firm
did not send any statement
whatever. as they claimed they did not
have the books in such a shape that any
accurate accounts could be made up. The
following committee was then appointed
to look over the books and &C.
counts Of the firm: A. nj.
Wright, Chas. Eggleston, VIM. Bristol, W.
d. Gregory and Samuel Edridge. 1t was
reported that the firm had closed up all
their deals, except for about 10000 bush
els of long year corn. Nearly 100000
bushels were thro wn on the market yester-
day. and the deals closed out. The firm
| stated that they had not had a
| dollars worth of deals for themselves,
and that they had sold deals that they
had a profit in. Deposits to secure these
deals had been made. They closed giving
| money on margins Friday. The party
who had the deal through them was Gorden
| Carwith. He is son of Nathan Carwith.
| the millionaire, and has been unfortunate
on this board for years. The former firm
| name was n. Carwlth & Son. This firm
| has been dissolved for few months
| Young Carwith undertook the deal i'll No
| vember corn some time ago, and made nc
| concealment then about the matter. Year
corn was also bought then. The November
deal was lucky spec, but year corn
;, covered the loss of ell made on that deal
| and more too. 1t was stated yes,
| terday that he had put UP
| $150,G00 in margins, and the firm
demanded 100000 more. This is
about the way the matter stands. 1t is
generally believed to-day that the year
deal also could have been carried to a sue
cessful outcome had the Carwiths had q
| little more nerve. A big operator sale
| this afternoon that had the elder Carwitl
! pms up $4,000 more the operation coQit
/ have been carried through, and a BIZ
| profit made instead OF an huniliating loss
which carried down parties no. ia tne deal
The old gentleman withdrew MS sappor
from his son at critical moment and
collapse necessarily resulted. There is
good deal Of bluff poker in corners, ant
| nerve and money count about evenly
One thing is certain: year delivery is look
! ing up steadily, notwithstanding th
! bread, and is already lie better.