The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-04-29
FRALEY'S FAILURE.
Man Who "shut Down" NJ
viii.
Not a Bli MI cOnragcd aud will wresile
The Tiger Aagain.
Cool MILLION Goes 10 Grass.

ST. LOUIS. AHril 2s.--lt was annouEo d
this afternoon that Noaes Ffalty, a uTomi
nert gfaiu gnd stock spl UulHtor oil this city
had failed for large amount. Full fact,
in the case ara not onttined, ont 10 is stated
nn hifh authority ihag Fraley was short OF
about 1000 600 bushria ui wheat nnd corn
in Chicago, and that bis 'otse7 ol lHis WI
be upward q 500 GOO. He also raid 40 b.
ihcrs on large Amcu1t pi wheat ~ n IA
NYflf, aud tn ne loo $4,000 in Uniou
frt TcX,s Pacific s,ors8. Nr Ft.
IHF b. president OF th1 Fraley
CARTER commission company. but that
concern ia 'u no wise interested in tnil az
'rif. Mr. Frllev'8 specni ftinu4 being COO.
duc'ed aolely on hil ,uiiyinusl account
Nr. FBiev was formerly the junior msm-
her o, The brokerage lifm az UOnaldsOu *
frsisy, was known as m tucc0gsiul business
man ani clt something of Nsufe iu l0cll
pUlitici az one time. /, is ssid ny friends
ne made some S3lOO0J on whert anu corn
during the lelt big break in prices IN Chi.
csgo, nud that sinca then there have been
combinations formed against him which
were too strong Tor him.
THE STORY IN FULL.
ST. LOUIS, April % Mr.. Frll'y made "a
statement In substance as lollows: I've
been dealing heavy In grain In Chicago
snd made considerable money last
month, nearly a quarter OF mill on, but
the market was forced M by tho mauipu.
laiions OF Chicago dealers. On Friday
amount of 100000. To-day they called
on me for $500 600; didn't know
how much might be called to
pay and 10 suspended. There was
n short session Saturday, aud wheat went
up IL cents in one hour: as | was Coo
600 bushels short, my loss in that time
was sbout $4,000. closed all my ST.
4 I
owe cent In the city |
debts and never speoulaled with other
peoples money. The losses are my
own. Ny lusses in stock were
great, es | Ind 10 close
them out A. u fearful loss in order 10 OBJ
tam cash. dealt exclusively
in Gould securities. Texas y Pa
cihc, Wabash and Missouri, Kansas
AID Texas. All my operations were trans
,c,ed in Chicago, although | Loot money
on June wheat IN New York. sank some
money in pork. My suspension viii not
ailec. the Ffsley Garter commission
house in the least. am
president of that C mpany and
offered TO resign, but vas not permitted TO
do so. | was mem Der of the Chicago board
OF trade and msde al my contracts through
private channels. shall hereafter conline
myself 10 the commission business ex-
cnsively. um not discouraged In reply
to q question rs 10 his liabilities, he shii
thsy would probably reach nearly a million
5000 eco on stocks, 100000 on grain,
S25, eco on pork. From Jhis aggregate may
90 deducted nearly u quarter of a
million draft, paid last Fri
day and Saturday. Nothing
yet has been .done looking to wards settling,
and perhaps will not be un'
III accurate. information regard
ing liabilities are obtained. he
was not willing to give list OF
his creditors, but IL Is assert.
ed he Is IN no way connected with
any New York firm. T. w. Carter,
of the Fraey Carter commission company,
GAYS FraleY's Suspension will not
affect the company in the
least. His operations were entbely
his own. We have clear surplus Of
$40 600 and are meeting Ill obligations
promptly"