New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-06-22
AFTER The CHICAGO FAILURES.
CONDITION OF THE SUSPENDED FIRMs-THE GRAIN
AND PROVISION MARKETS.
lRY TELEGRAPH TO THE TRfBuSBI

AND PROVISION MARKETS.
lRY TELEGRAPH TO THE TRIBUSE.l
CHICAGO, June 21.-There were no failures
on Change to-day The situation pretty fairly des
cribed when this negative statement Is made The
feeling of confidence apparent last night did not continue
as strong over night There dlsquetng runoFs OF
all sorts current this forenoon dispatch came from
NeyYork to-day asking II the National Bank OF ILLINOIS,
was all right The inquiry was soon turned INTO ri
NOR tits not likely that any except the scatterbraned
believe the story but it hal much eject that the
president OF the bank felt called upon 10 60 on Cbanse
to reassure the brokers. and sent Notice 10 the Call
Board that there absolutely no truth Ia the story
hui tnat there was much cash In the vaults OF the
Bank OF Illinois, In proportion To It's aDllltieA as there
was in toe vaults OF the Bank OF England.
The rumor illustrates fairly the panicly condition s
NJ te crowds on the oor Of the Board OF Trade. This
rumor and another that there had been big break
the New-York Produce Exchange, caused drop Of ?
cents m wheat July dropping from l079 down to lO5
The calling Of marquis has dropped off, There Was not
opefh the number OF certificates issued to-day that was
issued either yesterday OF the day before The calling
since lat Saturday constant and heavy tba
any house which survives to-day Is "margned" on
everythug way below the market; down 50 low. In fact
that II would taxi another very decisive break 10
an excuse FOR another call. Messrs Lndbom Co.. for
instance to-day only called one margiD and that was
one which should have been called some days ago
At McGeochs office matters are advancing apparently
vary sloNly McGeoch is not here Mr.. EveIngham Is
ayav The time OF Mr.. Crittenden IL wholly taken up
win the McGeoeh-Fowlcr lard investigation aud the
settlement is really. everybody fees, going along a,
snaike pace If there general feeling that dlvl-
dends we're to out Of the estate there won.d
donbtedy be an outcry but there is no such feeling
fMeGeoch pays above 10 cents the dollar everybody
wI ne surprised Little attention Is paid TO the firms
affairs Tie receiver drous around In the afternoon
after he has finished his business, but the losses
were charged up on SUNDAY 10 PrOht ana $685. Ihere
viii probably be meeting OF tao CREDITOR on Tuesday
fn hear abatement receiver says 10 viii take
| him three months 10 settle the estate.
The Fowlers pegging away at their defence They
| employees wis told Of putting talow into the lard
kettles This will be an easy matter DeeVed, COM
testified finding tailow aud couOn-seed oil IN the
| POWERS lard.
stlli supported and would go good deal lower
Were Il moi. 1t is Influenced wholly by the
srrvai of Eogs, the receipts or shipments Of
product have nothing do with the fluctuations Of the
| ho,h Weakened especially she former. From 1O7l9,
July wheat dropped 70 los ana closed abont a. the bot
TOM m G., of the day Tie absence OF any shipping de-
nand even after lO-oent drop Ia especially demora-
Al The meeting of the creditors of NJ g. Nichols Co.
this afternoon, member OK the r,n ssStsd the BOOKS
acr All debts paid, without taking into considesa
ZION the debts IL McGeocn or the embarrassed
Rack cashier OF the Continental Bank, asked 10
attend the Office OF Nichols Co. aud act a. sort OF
gearing house for all the firms having trades win the
frm The creditors were directed ~ call
| in the morning as early they liked with
| their margins signed down, and Their trades wiz
be transferred Whatever difference Nichols Co. owe
Mr. Black will pay. IL there are any trades which VIII
not "rng up" then George g. Walker Co VIII assume
them The market price, and Nichols CO. WIZ pay the
dferences This viii leave the books OF the hrm al
closed up and will probably DO the quickest liquidation
Of SO big a concern ON record. George Stewart Co.
/ viii resume tomorrow.
After strong opening yesterday the markets at the
New-York Produce Exchange weakened under the In
auence OF vague but uniavoraDe reports from Chicago
regarding pending failures there Prices were fever
ian and after an eaiy sharp advance closed hal
ioyer Ihan Wednesday nights figures Kumors OF fail
Ires in Sey.YorK were current, bat there actu
suspension.