New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-08-12

DtCLINc IN
lBY TELEGRAPH TO THE TRIBUSEi
CHICAGO. Aug. 1.-THE provision pit could
not hav been much moro dsmoralised to-day without
getting into state of actual panic 1t supposed
last night by everybody ths. the reopeung OF the First
National Bank o. indianapolis would encourage holders
and buyers OF provisions but all kinds OF provisions
open and began sraghtwsy TO decline sad never
stopped until the casins bell struck and the moor
was cleared Now all eyes turned toward Cincinnati
Louisville and ST. Louis where every product made from
hogs Is made aud stored and owned Thther this crowd
Ia looking expecting disasters. Did any large snouns
OF indianapolis pork product come on the market To-
dayr was asked Of Henry Warner, provision
broker.
"No large amount Of provisions came on the market
to-day for anybody" was the reply. Tnere was
report that the First National BaAk had loaned
to syndicate that was "long" sood
many millions Of pounds Of short ribs and that the &C
tempt to sell had broken the market badly thss
ribs had to be temporarily withdrawn Ferguson Co..
McHenry & Baldiug, aud all the other concerns hero
which Indianapolis connections denied that any
selling out had been done for their town. The puk
Of for Indianapolis they saii had been done
by McGeoch EvernEham q Co. TIE banks may have
become involved because Of unfortunate bun specu-
ations by their customers, but the long provisions
had been sold a good while ago. What the banks held
now were the cats and dogs and other unsuitable -
cures of these unfortunate operators The packers there
held property but had not been compelled to sell It.
rumor from New.York that stocks were paaicky, ana
that there WAS failure at Phia-
delphia, helped to disquiet people, IL
believed on all sides that Cincinnati Louisville and s
LOUIS have unfortunate In their produce specaA
tions az Indianapolis and prophecies are made on inc
floor in the Offices and the alley thar failures at en-
cinnat or St. Louis viii soon be announced. sooe
many have 70 think that there 10 trial of endu
apce going on between "Phn" Armour and these South
repeated there is all the while heard something ike ths
.Phi Armour viii have nothing to do with provisioas
until Cincinnati aud st. Louis are frozen cut II sns
provision bulls In thesc ctes have enough money 70
protect what they have and to buy what IL offered sa~
may get out ali right and get back theIr losses nos
Armour will gobbls their pork and when 70
has rozen everybody else out will advance the pre-
August pork closed at Sl2 80. September at siS 90
and october at $l2 SO. These figures were 40 o. ~
cents under the closing price last night Lard closea
a20 cents per hundred lower August at " iTs s.~
September at So 20. August ribs stopped at '"
Wheat opened higher. but soon showed weakness
Adams brokers appeared to DO buying In some 49,
They are believed TO have been "shorl' anu 49,
appearance on the buying side gave 'empo'.
strength TO the figures. Tue crowd was suspieiou'
the Kent and Walker syndicateand sales by any QUO
rescnting them caused adrop In the price, LUG
msnts were small again. less than half the rcsep's'
IN. statement showcd that more whea' cs
IN than went out The financial ooapses over the coa
,rv Arc oycrshsdow;ng every otlee innuss0
n there had been big shipments instead Oh -,
ones to-day It would have counted for nothing ~ ys
of me dscouraging that were receive
Yorl n ali sorts OF reports OF damaged wheas ~
from ali quarters the condolences which was nstsIy r.
stored August wheat closed at 81 OH; 80 - S0,
81 O3ss Augost olosed at Boss sep,enpoa srd
The directors AL dodgng the Fowler, Mcee buS
verdict The msttsr IL 10 be takea mp Igesug. ~
peariy half tbs directors have suddemly LETT ittn
,nauy ha 70 conc away thai the dodging has pec1 AZ
oyerdone and some Of the Will have TO come ~ IA
there will be no quorum There are only NH busnssa
one of the fye experts who were authorized py IL
rectors to analyse samples OF mixed FATS 70 AVA cen
sounduess of the expert testimony, has, runner ~"
fessed hls inability 70 accomplish tho taAk