The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-06-18

for McGeoch's salvation. 1t is also under
stood that Wells promised to have $780, 900
in the bank here for McGeoch's aid, but this
did not get here before the opening of
Change, and within five minutes of the
beginning of trading 81, 000 900 would not
have saved the deal.
The lard corner was undertaken by Nc
Geoch against Mitchell's protest so it is said.
He stood ready of course, to loan money on
good security, and even to be a friend to the
speculator but he was opposed to SO vast
speculation. His to-day's actions, however,
1T is said, was caused by the disrepute into
which lard has dropped. The charges against
Fowler have, boomerang-like, come back and
destroyed the man that hurled them. The
case against Fowler has been SO well made
out that McGeoch's own bankers became
alarmed at lard as security for their money.
McGeoch is very much overcome, SO much
so that those who know him best are fearful
that he will do himself harm. 1t is not so
much the loss of the money that hurts him,
but he has been defeated by the men whom
he hates with all the energy he possesses-the
Fowlers and the other English short sellers.
He shows on his face and carriage that he got
no sleep last night.
There was conspiracy to ruin me, said
he. at has succeeded"
Twill the charges against Fowler Bros. be
withdrawn
Never" said he, with tremendous en-
phasis
McGeoch began business in 1855, as a grain
buyer at Madison, in the employ of a we'll
known Milwaukeean, Mr.. Vankirk, now
partner of Robert Lindblom. Vankrk after
ward removed to Milwaukee, and McGeoch
soon followed him, and the common house
of Vankirk & McGeoch was formed. This
same concern afterward TOOK the old Rogers
paoking-house in 1867 and operated it. In
1876 the firm ran "deal's in spring wheat,
but was buried by the railroad The latter
nfrnl cd al fOro orNA md atrNfS
for wheat en- route in cars, until the Scotch
man and his partner were buried with early
grain. All the effects OF the firm went into
| the hands Of Alexander Mitchel's bank, the
packing-house among the rest. McGeoch
was placed in charge of the house in Nit
chelPs interest, but sank money in It, In
1878 McGeoch got into another spring wheat
deal. The elements were favorable; John
Plankinton was buying great quantity
of wheat at the same time and was helping
support the, market, the crop having also
turned out failure. McGeoch came out of
600 ahead. Then, in 1886, at tie
height of the yellow fever panic, ne, to-
gether with Daniel Wells, went into pork,
getting their banking facilities of Mitchell.
Nearly a million dollars was made in that
deal. The operations of this indefatigable
speculator since are familiar to every one in
Cincinnati as we'll as here.
McGeoch has never been popular here
Very little sympathy is felt for him. save by
his own personal friends. He has been TOO
aggressive to be popular and has not been
whit polite.
"McGeoch, said gentleman very well ac-
quainted with him, sis not man of good
judgment. He is, however. man of won
derful energy, indomitable will and pos
| sessed of courage He has had a good friend.
He is honest, and Mitchell has backed him.
/ am surprised that the old broker has al
| lowed him to go under now"
"What effect will McGeoch's failure have
upon the lard Investigations was asked of
the lawyers on the case
None at all" was the reply. "There are
others besides McGeoch interested in that in
vestigation, and it will go on just as if this
| thing had not happened.
81 think it was q great mistake, now" said
partner of McGeoch, "that the charges were
made against Fowler. Not but that they
were all true, but it has ruined the reputa-
ton of the lard, in which we are more than
anybody else interested. | wish we had not
begun that investigation"
How many tierces of lard we're sold out
for you today was asked of this gentle
! man.
"Over 100000"
How much do you owe?"
81 can't tell. We have been undoubtedly
slaughtered, but don't think we will owe
more than $500, 0OO."
How much has McGeoch had in this
deal?''
"Over $4,000, OOO."
McGeoch, in an interview tonight, assert
ed that the pending lard investigation and
which his firm had instituted, was the pri-
mary cause of his failure. 1t had reduced
consumption, created doubt in many quar-
ters very materially decreased speculation,
and placed the firm in position where it
could no longer carry on its deals He as
serted that he would continue 10 prosecute the
lard investigation. He could not state until
the smoke had cleared away to what extent,
or in what manner his firm could meet its
liabilities.
Fowler Bros, agents in this city of Nc
Geoch, Everingham & Co., were not at their
office to-day, and their representative could
not give any information. On the floor of
the Produce Exchange to-day there was an
active time, and a big crowd in attendance,
especially for Saturday, but at no time was
there any excitement to indicate that owing
to the Chicago failures, panic was feared
Dealings in lard were very heavy, and fear
was expressed that some failures would be
reported in the lard trade, but otherwise the
market was strong.
McGeoch's Efforts to Raise Money.
CHICAGO June 1.-THE clerks were busy
in the offices of all firms which went to the