New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-06-24
TIE CHICAGO MARKET.
TRADING AFFECTED By THE EMBARRASSMENT OF
KERSHAw 4 CO.
Inv M rGR APH To- LIE TEIBUNEl


rBY TELEGRAPH To THE rEIBUNE.l
CHICAGO, June 23.-kershaw u Co. an
nounced on Change this forenoon that thcy hao eAose
out all their trades II OF course an admissou "a
embarrassment Prices did not break precipatey' ou.
they broke badly At O'Clock July wheat wac al 30
cents August stopped Sos ccnts, July corn al Dos
cent. Angus. at 55S cents July pork at $40 10, July
lard at ~ 37ls August lard at s. So Inquiries came
along early this morning from st. LOUIS, saying
that there was there that prommet mouse
here had failed and particulars were asked Ior' No
panes were mentioned at first At last il became known
10 peope W no had close connections at ST. Louis tha the
frm was none other than c. J. Kershaw Co. OF TINS
oity and Milwaukee At little before IL o'clock the
secretary OF the board raped for silence ana read
communication from the firm making the announcement
already mentioned. and asking people VINO hau uauee
open TO call Office either TO transfer them or checK
them The announcement created a moments sehsaUon
The firm, one Of the largest and presumably one OF
the strongest here had the confidence OF everybody
There was no rushing close out trades on account OF
the embarrassed house This was for the reason ths u
firm had taken the preCsuon 70 close It's own trades 10
rrevent beipg slaughtered. "Kershaw & Co.." said a
gentleman who Is near enough 10 the mm 70
know the inside OF their affairs will pay
everything in fun and have something left
cursory examination OF their books shows tna'
n rich Mwaukeean could have been reached TINS morn
Ing the stoppsge would have been prevented for rch
hacker here and another packer Of Milwaukee offered
was needed II the rich Milwaukeean would furnish the
other third" The Of the failure Is mueA
discussed An "insder" says; 1.-The fact ls that
Mr. Kershaw suffered big loss when Alex
snder Mitchell. suddenly and without NOTICE 20
sny BODY decided close out the younZ wheat deal
The state OF affairs al New-Y0rk made matters worse
The traders who were long properly stood NOT guest
Of show The Hessian e cutting great hgure on
Change not because tGerwss more news conceInhRi
insect thar is usual at this ofhe year but because
there total absence OF all other KlAd OF
news There we're some reportsi Of Its presence
in kansas spear OF rusty wheat was hung upon lue
kboard by OF the bulls. who lKely enc was
busy in the pit. don't expect said captain fnP-'
OF AFRO 10 see large crop this year from heutucA
get information that the crop there vii not Teaze
above - per cent, because ~ damage
The tsE OF damage TO crops had the erect OF a1Nahc
ing prices opened at s5 cents Tor Juv out uy
had advanced q cent, and was COINS a 20 cents
for the same. weak. and az s~-s cents Tor Aueusl'
Corn was \ o. a cent higher although the uadlHs Was
ucht indeed. and oats market was maze luF al
lour after the OpeniDg just soon as the ueuIe Oh
pck began 10 come wheat broke over cent Dushe
The feeling became depressed and almost panlckR, u
view OF Inc alarming reports received rom NeWl oLh
There v As t improvement in stocks just before we
cl,.4 ami il influenced TINS market for an advance Jy
heat closed AZ 2:3O s59 cents August al 2 cent?
lily corn Al 55l4 cents August corn al oO'4 C0h'9
Provision, were not changed.