Daily globe., 1883-06-17
PETER PETERS.
CONTINUED from First Page.

by no one to any cause, save that
an eHort was made to maintain price
to high pitch by speculative methods
During the day many rumors of failures
were current, and even found their way
into print, doing injustice in some in
stances, and contradictions and explana-
tions followed the first publication. 1t is
openly known that many firms are in deep
water, but as matter of fact the known
failures do not exceed six to eight in num-
Der, and some of these are insignificant
ones. In addition to Holley & Allen, al
ready reported, G. N. Ball & Co. gave no.
tlce to close out their deals and have gone
under. Ellis & Lightner and Tabor &
Wilson, frankly announced they are
struggling against odds, but both express
the belief that they will weather the storm,
and will know definitely Monday. NJ B.
Crafts & Co. and William Martin & Co.
are among those reported as having failed
MITCHELL WOULDN'T ANTE.
MILWAUKEE, June 16.-Alexander Mitch
ell, president of the Chicago, Milwaukee &
st. Paul Railroad company, in an inter
view tonight, says he never promised Nc
Geoch one cent to support his deal, but ad-
refused, because he was not approached
10 business like manner. He added hs
would have given a large sum outright
and would willingly have advanced $780,
O00if that would have averted the failure.
but he could not assume the whole load
carried by McGeoch and the latter offered
no security.
THE LOSSES
of the six firms outside of McGeoch
whose names have already been
given, are estimated as follows: j.
NJ, Ball d Co., $1OO,OOO; Ellis
q Lightner, 100000; Tabor & Wilson, $40,
600: Holly & Allen, $4,000; Crofts & Co..
| $4,000; Martin & Co., $4,000. One In
dianapolis firm is reported to have been
caught to the extent of $4,000, but no
name Is given. McGeoch was reported to
have been worth $5OO,OOO, and his leading
partner, Daniel L. Wells, is supposed to
have been worth $3,000,O0O. A member of
the broken firm in an interview tonight
ascribed the failure in measure to the
lard investigation, and declared it caused
local banks to scale down on their advances
and by this means the crash was hurried
on prematurely. and but for which fact
the firm might have been able to carry
out their contracts.
| WHAT PETER SAYS.
McGeoch, in an interview tonight, as
serted that the pending lard investigation
which his firm had instituted, was the
primary cause of the failure. 1t had re-
duced consumption, created doubt in very
many quarters, very materially decreased
speculation and placed the firm in posi-
tion where it could no longer carry on its
deals. He asserted that he would con-
tinue to 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.
THE NEWS IN NEW YORK.
New YORK, June 16,-Fowler Brothers,
agents in this city of McGeoch, Evering-
ham & Co., were not at their Office to-day,
and their representative could not give
any information. On the floor of the pro-
duce exchange to-day there was an active
time and crowd in attendance especially
for Saturday, but at no time was there any
excitement to indicate that owing to the
Chicago failures, a panic was feared.
Dealings in lard were very heavy, and a
fear was expressed that some failures
would be reported in the lard trade, but
otherwise the market was strong.