The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1882-02-23
Yesterday at Chicago,

CHICAGO, February 15.-To-day was the
most exciting day ever experienced on
Change Prices were excited and unsctt led
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 wei-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 1900, eco to $4,000 bushels of wheat.
The rapid decline prevented them from
closing out, when their margins were
exhausted, and securing rcmittanccS to
meet the great draft upon them. Their
failure was more disastrous and had great
er effect on prices because of being so wide
ly distributed among members Ofthc board.
The effect was iet 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 Lemorlizcd
by the untavorable foreign as well as local
influences. The market opened lrreguiarly
with some sales of J higher tsan
yesterdays call, advanced another b,
to :, then ruled steady, but after few sales
began to weaken and declined 81,
transactions. The final close was At lower
for March and April and 4s for May,
than yesterdays prices. On call
there was q scene of great excitement.
Blocks of quarter of million were sold
at one time, and there were few sales less
than 100, 600 bushels. Recorders were UNI
able to take down sales as fast as made, and
low
of anxiety on the part of bidders. Prices,
held up under the steady hammering
and toward the close advanced smartly.
Sales were reported ut 100000 bushels.
Corn vas unsettled and weak throughout,
prices advancing at the opening 1gs and
then Immediately dropping, with II few
fluctuations, 2tg2i. Inquiry was moder-
ate, and caution prevailed, although foreign
zdvices were stronger. Prices closed lao!
below those Of yesterday. Call sales reached
100000 buhels and prices
but shared the general depression and sales
and offerings were small, the decline
amounting to 1@l4c. Pork was unset
tied and irregular, finally closing
NOUS sales, wild fluctuations and n
general pancky and unsettled market
Lard followed the pork decline, being
3Oa40 without any particular features Of
interest, On call there was a fair recovery
of prices, which advanced about 80 on pork
and - on lard. Sales were large. There
is good deal of uncertainty as 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 call 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 a
quarter Of million dollars, and
| that they cannot continue business,
KENYON himself is absent from the
city. The uncertainty as to the amount in
yoiyed arises from the lack Of information
about prices at which deals were closed, and
/ Kenyon u Co. and their friends have been
persistent bulls" on the market. They
! failed once before some years since.