The daily gazette. [volume] (Wilmington, Del.) 1874-1883, 1883-06-18
WII.MI DEI..A ONE
100 toA,HLnHsss fsth MORE FOR CAMDEN
Particulars Of the Provision Speculation
That Ruined Some and Made Millions
for Othera

Particulars Of the Provision Speculation
That Ruined Some and Made Millions
for Others.
CHICAGO, I'LL. june l6.-The excitement
over the Peters failure failed TO subside With
the going down OF the sun. Tonight there
are bright lights in the offices of a score Of
brokers, and the usual quiet of Washington
ard La salle streets is broken by the pass
ing to and fro of the bitten members OF the
board. McGeorch is closed In his private
room. He declines to make known bis
option losses, but says he 10 the
owner Of about $4,000 tierces
OF lard, for which the money has
been paid over and ON which he has lost
$3.50, 600. Holey q Allen, commission mer
chanus, were the first to suspend after Nc
Georch. They decline to say to what extent
they are embarrassed. Their trades are
scattered over the city and country, and It
will take a day or two to determine
how deeply they are involved.
NJ. B. Crofts & Co. would not
verify the report that they had failed, but
1t was told from reliable sources that they
had and were closing their deals as fast as
possible. William Martin q Co., who have
an Office In the Otis block, are also affected
seriously, but none of the hrm could be
found and the extent of their lab llties re-
mains unknown at present. Ellis q
Lightner, 1873 La Sale street, succumbed
this afternoon. A member of the firm was
questioned As to the extent OF the failure but
he declined to give particulars. He did not
think It would be more than temporary sus-
pension, but they had to close out standing
trades in order to protect their owR inter
sets. Tabor 81 Wilson also suspended but
Mr.. Tabor said everything would be salts
factorly arranged by Monday and the firm
would continue business as usual At
o'clock report was circulated to the effect
that Matthews IL Ball, of No. "a of La
Sale street, had stopped payment. 1t was
believed, however, that the embarrassment
of this firm was only temporary. II guess
there is no doubt that Mr.. Armour held up
the markets to-day" said B. f. Mills. "He
has been heavy dealer all day. he has
made a great deal of money. The
probable profits on the board to-
day have nearly $3,OOO,OOO. Much
of it has come to Mr.. Armour but perhaps
even he cannot tell how much. If it had
not been for him the failure had been deal
more serious than it was"
"Mr. Armour, is 1t true that you have
made a million to day on the Board OF
Trade I" was asked of the grain and provi
sion king, as he sat at his desk.
~ can't tell, !" he replied, 81 have been toe
busY to make or examine any calculations
MY men have been on the board all day
and are there now. They have taken
in everything that was offered. have
bought to the extent of millions but dom
know whether will make anything or not
went into 1t to hold up the market. II
was all could handle but the prices art
going up hill again, so that the burden hai
been borne.
1t is believed in mercantile circles to
night, that the total of loss of McGeorcf
will exceed one million, while the aggregate
amounts will probably reach "a ,0O0,O
The profits of the opposite faction are o
course correspondingly great, severa
we'll known firms being reported
to have cleared enormous sums. The clos
ing figure for July lard was $9.75, and TO
August, $780, The July figure closed las
night and opened this morning at $9.65
The downward rush was kept up till th'
commodity could be bought In stocks o
5000 tierces at 80. Then a reaction set II
an prices again moved upwards till 500
was reached, the price standing at 1915 a
the close. The August option closed a.
So. .90