New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-15
ucGEocH ITO RESUME BUSINESS. (
THE COMPROMISE PROPOSITION SIGNED FEAruxn
OF THE CHICAGO siARKETS

or THE CHICAGO MARKETS. -
IBY TELEGRAPH TO THE rRIBuSR
CHICAGO, July 14-Receiver Bensley teis<s
grapBed to McGeoch and Daniel Wells jr to-day tAzs
the last signature to the compromise propot had
been received and that they had better hurry down 20
Chicago with their s45o00o contributions The lass
creditor to stand out the Union National Bsak;
although, fact. the Continental Bank did not sg,s
until after the Union The Continental however acted
friend throughout the negotiations The iDdivdaa,
signature obtained with the greatest difficulty was tnar
OF Julian Rumsey, trustee for the creditors OF Efiss
IIghtner, who held claim against the Scotr,rssn fer
S1O1 900. 1t Is said that the $4,000 which Wells os
tributes will be here Tuesday nighs. thxs
then the payment OF the dividend will Deg<a lust e
coon the little legal formaltes can b, ssrsssed
McGeochs firm. II Is said will be doing business again
inside OF four weeks IL failed. aud xImosi the
entire provision specializing world into panic lust four
weeks ago to-day. The scotchman had four partners
then Some OF them. expected. will be thrown over
in the reorganization There plenty to go AROUND
among d We when the firm earning commissions az
the rate Of 100000 year. was the case when it
failed. This, roo. notwithstanding the fact tia, tho
partner took just hsfof what earned In
month OF May last the arm made $4,000, and Its
penses not nearly heavy those some o.hes
frms doing mGea smaller business.
McGeoch will be compelled 70 sail with turled sails
when he comes back here again. He will no. have thu
money be had although II s expected that his friends
Armour among the number viii lend hun safe capital
but his credit will not be good. He will need to put
up margins like Ordinary traders. and VIII be "esled"
sharper perhaps even than the more hundrum mortas
II will be hard ngh for him get back his
business. When hislrn was simply side speculation
with him, and -een he used IT simply "a mesns
of doing his En speculatIng. outsiders crowdea
into his Office land tried 10 do business vita
him. They thou4 tnat II would bring pointers their
way. Now thatb starts IN again 70 make living. he
viii nnd il hard Is predicted, % bring customers back
their rights and hterests. They not given
chance TO heds" They were slaughtered without
tect trades whoere amply protected lost their money
These will not une back They are hled with rage 90
the brutality 9TH which they were treated 1t may
have been necessary In an economical seBse
for McGecS 10 drag down MS easiomert
neyei H. A w<r could have saved them and cost Mo-
Geoch not ousent Indeed 1t Is soberly claimed By
broker who dflares that he knows whereof lie speak,
that the Scorlman went I" short" 10000 OF
hard the nigs before bis failure, and that tins itrls
jag" was Ssried tor McGeoch on the books ot tru
friend here m very recently, when II was closed II
profit $500 basaelle of course TO his losses, ouu
not TO be sntd at by an old naa as nestegg Snea
the credtorxrc all settled with. Why diin't ne give
his eustonses % chancei This Is what they will as<
when he sokts their trade again. ~
Everythu GU the list closed tonight lower than B.
opened tAi3norning little higher than the close
last night Fork and hard, which began strong, were
weakenedH reports OF yellow reyer at NewOreans /
and the dene In these large that grsn was un 4
favoraolyG ected witnin the last -four weeks l29Wy
uerces, ofae value OF over S30ooOo0, OF lard ha's
been shpni out OF here The movement tins weskws9 q
70, 600 t;oes Tue stock here now does not nue. 4
exceed $1,000 ticrces, against 10000 terces last {ea
Within tkpast ten weeks the depreciation on port ~
been 81 ID barrel. on lard sl2 so teree. on $40
ribs S4D a hundred pounds. Within the ga3 4
week ms has dropped 81 30 barrel. nS
- n tieIH short ribs 81 30 hundred pounds wnsss
ana coranened strong but were not sustained oy an
thing etEpt the news OF bad crops being harnesses ~
Illinoix III was also said that the receipts OF whest
St Ldnta SO fallen OF TO check seneS ~, ~,
"nearA feeling there. July pork closed ~ 10 ~
An. ~ a. sapfa "A
So 40 "a August ut IS AS Wheat for July soppsys
81 0el for August at 81 Ola aud Tor sep.swS W.
81 03 Juy corn closed at 81 y cents Auguss ~
cent al ANS have ali at once become dull July siss
AZ III Hsts M|H.