New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-04-26
4 FAILURE IN THE GRAIN TRhDE.
SUSPENSION OF HANDY RICHARDSON 4 co. AT
CHICAGO-EFFECr UPON THE MARKETS.
lBY TELEGRAPH TO THE fgIBUNEl

SUSPENSION OF HANDY. RICHARDSON 4 co. Al
CHIcAGO-EFFEcr UPON THE Markets.
lBY TELEGRAPH TO THE rRBUNE.l
CHICAGO, April 25.-The announcement of
the failure Of Handy, Richardson & Co., the fore
noon gave brokers something besides Armour aud
his wheat deal to talk dbout. The suspension
mise TO most people, but panic followed, aud by
uightfan Mr. Handy and his misfortune were not as
they were in the morning. the uppermo-t topic OF
versatlon. No has lost great amOuat OF money be
cause of the stoppage
A fortnight or ago. for some reason, the firms
credit was criticised Mr.. Handy. who has recently
been IL charge OF the business careful 10 protect his
creditors as far lay IN his power. Those who had
trades open were quietly requested close tnen
The books were nearly possible evened up
ouenty when the Of the h-ms trouble got abroad
there was no panic. Wheat, which should naturally
have advanced If any great Of short wheat had
been bought h., perhaps steadird for little while by
the announcement. but aterward declined very cOnHi-
erably The failure IL snail one, because margins
very fully up ana because the trades had been pretty
well evened. sympathy FELT for the head or the firm
No settlenent Is authorized by the firm but 5000
will II ia thought it's indebtedness including all
that ls que TO bank The by meInbers The
Board will be small.
Truman Il. Handy, the head OF the un, Ortunato con-
Germ has had great reputation pro Spectator
a heat dea for Augu' II Attracted general attention
p
IT, sprang NJ one into great Prominence and bis
has ever gwen s,rongh TO man pulatIOn Win
together a cnqne and cOrnefed corn. He the price
m from abon 90 cents 10 90 cents aud made for the pool
over 5000 900 The public has heard great deal OF Mr.
Haudy's successful mauipulltiOns II has never been
let INTO the Of his unsuccessful secn,atoDs. IL
IA generally believed now that he has been very largely
short wheat ~ Armour Jnere IL no truth IN thene
rumOrs There IL suspicion that the CncnnatIan hss
been swinded AT rate che books OF tine
carefully gone over by experts Ia ms interest lie
failed in 1865 at Cincinnati, but took 100000 from
h,oVr ffaa 90
II have" said Mr. Handy, mo positive idea OF how
stand. Ny clerks up nearly oil Oi last Night going
over my books and arc zoo tired ~ finish treir WORK To-
day The failure ID not bad II nad Ueated
as considerably as Oner people have been treated by
placed my disposal by friend at Cincinnati, but after
car efuy considering the matter did think ii would
not propose to unless my lawyers CincI advs It.
statement OF our ahrs Is being prepared, and Yil be
made public as soon az finished"
The wheat market, shortly after the OF the Handy
failure had been recolycd, began drop city nearly
the most part reaze purchases made lower fig
At night the May and june options were $d1
situation not bit cuanged. Conservative traders
viii not at present short Undoubtedly how.
here Will be the very tLig the owners
Of The wheat desire should be done.
wheat Only thirty eigbt OF wheat and 1913 OF
corn received oday Lard closed I2l20l5 cents,
than 5000 hOgs were received the yards. McGeOch
il believed 10 have bought 10000 uerces OF lard
this week.
The agents OF the ppcpa, steamboat lines plying
tween this city, Buffalo aud Erie have joined naods
Chicago of Trade, aud that they will
not a9an appear on tue floor OF tue Exchange until the
settled. expected that Board would
make shipments water Ia order ~ the railroads
by the railway companies they subject 70 the control
Of the and the action OF the agents stated 10 be
rally docs include saDg vessels and few indepen-
dent steamboat lines-