National Republican., 1883-06-20
WHEAT. LARD. IRON.
Another Exciting Day on Change In New
York and Chicago-More Failures.

Another Exciting Day on 'ChSnge In New
York and Chicago-More Failures.
CHICAGO June 19.-whcat suffered a de-
cline on this market this morning, owing to
very heavy offerings and resulted in tempo.
rary decline of II to cents. 1t was after
ward learned that this was occasioned by NJ.
S. Nichols & Co., who have been on the bull
side, closing out their deals. A rumor fol-
lowed that tho firm, which is rated h5 an
exceptionally strong one, had failed. This
was aft6rward denied, Mr.. Nichols IN person
making the announcement on change chat
the firm had closed out all its deals and was
| ready to meet its demands. The effect of the
statement was such as to Immediately inn
prove the tone of the market. PoCk d
| Bausher, who have been dealing in lard, sus-
pended this morning, aud their troubles are
supposed to be due to the recent collapse in
the market.
New YORK, June 19-There was some
heavy trading to-day in wheat at the produce
exchange after the first call, owing TO re-
ported failures from Chicago. About one
million bushels of wheat were disposed of at
q decline of half q cent. Five hundred thou
sand bushels of corn and about fifteen thou
sand bushels of oats were also disposed Of
The contest was stubborn, but in the after
noon tho market recovered its tone after
exciting fluctuations.
r. ii. Parks & Co. announced thoir suspen-
pension to tho New York stock exchange to-
day owing to the failure of NJ S. Nichols q
Co., of Chicago. Tho suspension is only tenn
porary. A statement is refused and no par
ticulars given. 1t is stated on the street
| that the failure of Parks & Co. was due TO the
fact that Nj. 5. Nichols threw out drafts of the
former to the extent of $4,000. Parks &
Co. however claim thoy have a balance TO
their credit at Chicago of $4,000. At the
| atf n.sts eal,n t1Ntt
sand shares Of stock were closed under the
rule for the account of Il. II. Parks & Co.
A private dispatch from Il reliable source
in Chicago states that il is coniidetly ex-
pected that NJ. S. Nichols & Co. can pay dol
lar for dollar. If such is the case, Il. IL.
Parks & Co. say they can resume business at
a very early date.
CHICAGO June 10.--In reply to a dispatch
from New York, stating that Parks & Co., of
that city, attribute their failure to the throw
ing out of their drafts by M. S. Nichols Il
| Co., OF this city, u member of the latter
| firm says: 1--WE have unsettled deals with
Parks Il Co., but cannot tell their extent, nor
can they. We think they would owe us con-
siderable money If our accounts were settled
up. As to our procipitating their failure, you
may say IT is not So and you may deny that
we owe them any $75,0O0."
PITrsBURG, PA, Juno 19.-Graff, Bennett
& Co., the large iron firm of this city, have
called a meeting of their creditors for to-mor-
row, and will probably ask for an extension
They were hampered by the failure of the
Grafton Iron company. The firm has moi
failed, and will not. Its liabiltties arc not
over $l,600,0O0, and its assets are at least
$2,500,000. 1t has large amount of collateral
unimpaired, and will certainly get an exten.
sion. No uneasiness is felt by the creditors
who have advised this step to put an end ia
gossip and street talk, which has been very
injurious.