New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-09-01
OF the matter Vercts will be rendered after the teSt~
mony is received by the Superintendent
THE CHICAGO MARKET Dull
HOW THE LARD CORNER WAS DEFEATED-CoRN AMP
WHEAT DECLINE IN PRICE.
IBr TELEGRAPH TO THE TRIBUNE.

HOW THE LARD CORNER WAS DEFEATED-CoRN AMP
WHEAT DECLINE IN PRICE.
IBr TELEGRAPH TO THE rRIBUSE.I
CHICAGO, Aug. 31.-Fairbanks g. Co. say
that there has been defacaton in their Office. that 1t
amounts OF dollars but that 1t Is to
them only small sum and mas oecn
settled This 10 all that the Fairbanks people say
OF the matter The truth is, that the person who is
charged with being adefsuter is young man named
Shafer who has had entire charge OF their Board OF
Trade business, the purchase OF lard ana suen
speculative business the firm did, either
for its own account for its customers.
1t believed, too that instead OF Shefer being d
fauter in the streets acccpta ion Of the word that he
has been specializing himself, aud that being
the secret Of che plans OF n K Fairoankss contem
plated September lard-squeeze, he banked" on tho
firm somewhat as Hutchinson. OF Wallst, banked on
his Boston customer, DdH 1t is believed, IN fac,
here, among those who would DO likely TO
know something OF the afiir that Shafcr
knew Just enough about the contemplated September
squeeze play against it and defeat IT. wnen ne
bought Fairbanks shafer was the real seller and
when he sold for Fairbanks shser was the real buyer
In other words, that he had brokers operating on
large scale for himself. and that being
the secret OF his employers he had "dead slro
thing" Indeed shafer had interest in the commits
business Of the firm, line little outside or It's
regular lard business Tae gossip is that shaIer OF
his people paid $4,000 o. settle the matter
and Its becoming puO1c there OelnR goou
ground FOR criminal prescott Oh OF him. the matter OF
interest CHIEFLY because OF the petertng out OF the sep
TENDER lard squeeze. -
The receipts wheat yesterday, aggregang 249 car
loads heavier than usual, and tails, with nne
weather and q moderate demand for shipment causeda
snarp decline The attention the session too, was az
traeted by the visit OF tie distinguished Germans OF
the Willard party, who were given rece pton ON tho
Board forenoon. This kept the leading operators
OF the market and left the small Try 70 keep the
dgures at which they failed dsmaly. There show
OF life early In the session, in which september
sold high 1.007s hut a snort time, under Tree
offerings, the price declined to 81, and closed weak AZ
that The receipts OF wheat promise 70 be heavy fof tno
next wee. r ana 1e anawsa no
Improvement In tone October fell of IL OF and closed
weak and November was quiet at 81 o. The warm
ripenng weather fair and less sharp dem tndfor
shipping together with the weakness Ia waeat caused
decline september closed at about 49io, Oc'o.
Der at 494. and November at A. There was good
deal of business done, however and the pit was lively
in the morning Oats were unsettled. owing to oeiay
In setting the August DEAL" put this accomp iished'
prices soon receded.
The feature Of the day in speculative pontof view
was O sharp TWIST In faxseet incftent TO set
ting day. Faxseed has been cornered FOR the
month aud there fully $4,000 bushels wanted this
morning not In store. Bidding was lively Tor
and the price for up 81 so busnei Tor
all others 81 80 the best rate Hogs were
higher and scarcer bus had effect on the provision
market. large part of the business OF the day was
changing August options to september. The Market
opened weak but closed better feeling anq
with prices the same as the day before. Lard was
steady settling price SO 80 Tor the overpus
freights continue we'll up $4,000 bushels oil corn
being chartered at cents to Buffalo, ana Az was tno
rate on wheat the point