New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-06-23
SEoUELS TO THE CHICAGO FAILURES
THE MARKETS ECOyERING-CONDITI0N OF THp
SUSPENDED FIRMs-THE LARD INQUIRY.
IBY TELEGRAPH TO THE TRIBUsEl

THE MARKETS NEUTRALITY-SUSPICIOUS. OF THE
SUSPENDED FIRMs-THE LARD INQUIRY.
IBr TELEGRAPH THE TRIBUsEl
CHICAGO June 22.-The markets on Change
to-day were quiet they were up 10 only twenty
four hours ago. Excited disturbing rumors have
disappeared. Not failure has occurred; not one
talked Of Provisions which have led in the break
down-hill during the past weeks panic,
tinue strong, and apparently recovering Pork to-
night 25 $50 cents barrel above last nights fgures
and lard SOLO cents hundred higher Corn and wheas
triae higher, but not as strong as provisions.
1t ia natural that they should not be 80 ready
to recover They did suffer violently pork aud
lard and consequently often the case with invs
Ids likely to take longer while before recovery
No one looks for any great change in present prices
for while The style OF speculation Of buying million
two dollars worth OF grain provisions to advance
prices sell before the market loses the impetus
it got from the buying has evidently gone out Of
vogue for the 81 don't think you'i
hear Of a corner in produce for at least
two years." said commission man. Other cor
ners have failed here before the engineers Of them
bave been ruined but disaster caused so much
suffering among the brokers this last one. man who
attempted corner while this McGeoch lard corner
Is remembered would not be safe"
The feeling apparently that 1t will take long time
for produce spectators regain confidence in each
other and that during this period Of suspicion there viii
will especially DO the with grain, which,
unlike provisions is without any other support except
the demand from spectators or consumers The faet
that "Phl" Armour has recently become so vast
holder OF pork and lard is why they may NOT
yield to depressing influences 80 quickly as
gram. But IL is suggested that the packer
manipulating the product or tnat he bought WITH any
other intention than distribute It through his agents
all over the world to consumers. Ihe " ouls sucn OF
them as are left not disposed 10 buy fearing that
the prices may 20 lower.
time within fortnight There Indications too that
the wheat Will be gin move out The engagements to-
day were for $4,000 Dlsnsis June PORK sIoppsd o-
June lard closed at 975 and July u, $50 June wlet
stopped at l.05 and July at LO54; June corn at oSt
The suspended firms, Messrs. NJ 5. Nichols & Co.. and
George Stewart * Co.. are selt az up ther anairs
as quickly they It Is not question Oh money
sufficient pay III full, but question or stralghtenns
the enan clements VI Dig business nrms IN very
short space time In the attempt to transfer Nichols
& Co.'S trades gce difficulty Is experienced III sasy-
Ing ali credtors There Is, OF course, daring tas
present excitement, an INCLINATION on al sues 70 AUG
with the strong houses and 10 AVOID the rns wlen Pee
snmaby weak so, IN the Transferring OF NleaOlss
trades each wants the trades win the houses
but the This heSitancy IL delaying the nrms
settlement.
Tne OF McGeoch's firm says that be Is making
his way slowly toward results 1e losses pyhe Iadres
he says, enough 10 make ones head swim Iners
are firms which creditors forever $500 600 ana there
are a0Out half claims the vicinity OF slOoOO1
ure offer To settle ut 40 cents cash. and 10 assign he
claim against the ScOtchman Tor the Dene
fit OF their creditors. Tue lara lnvesusauY9l
is making the tight between McGeOch ald Armour ahd
the Fowlers an exceedingly bitter one Yesterday tw9
witnesses who ha1 formerly esnedin McGe0ohs DehaI
Tcracted their testimony aud sali tAey ad been pdlt
false. To-day the arrested at the instance
OF McGeooh for perjury