Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-09-23
Galveston Wool Market.
FALL WOOL
Assignment and snspension.

Assignment and Suspension.
NEW YORK. Sept. "2-The announcement Of
the assignment and suspension Of =. Y. White
& Co. of New York ana Chicago was made on
the stock exchange 1T lU:3O ocoCl1 this morn
rng. Mr.. White says the failure is due to Ions.
speculation in and not in stocks. The
liabilities of the firm are heavy. but only a Jew
hundred shares OF stock are outstanding on
contract.
The climax Of to-Gays catastrophe has been
the approaching combination Tor the last tYd
weeks. The news. which has been carefully
guarded, leaked out yesterday Afternoon aftct
the closing of the stock exchange The asSigu'
meut OF the assets Oh the embarrassed hrm MAJ
then said 10 have been made but not recorded.
There We're no contracts outstanding on tina
floor of the cotton exchange. anu no excite.
ment was caused thereby.
When the announcement OF tho suspension
was made. Mr.. f. c. Stcdmuu. = friend. wa4
authorized 10 make the following statement:
The Cause OF the trouble j. due wholly 10 the
decline in corn. The house has been long 81
September and October co,n. The immense
receipts were too much for it 70 stand.
The private fortune OF =. Y. White. so long
noted for the success and holiness OF his spec
ulative deals, is estimated Ut s2.0O1,U0o.
Members OF the 1irm who were borrowing
stocks from ;. V. White & Co received notice
from the firm before the opening OF business
to-day TO sell those shares. and the market
took the shares with a slight tremor. Holders
who had privileges from White Il Co chiefly
calls, and who went short against their OPP.
tons, now find themselves in the predicalneus
OF having 10 cover.
Inc failure caused Dllt llttlr excitement ut the
produce exchange for the reason that but few
members were interested in the deal. II is
stated the failure affects Chicago The priuCi-
pal ofice OF the firm, after the announcement
of the suspension. was crowded with bankers,
brokers and reporters. all trying TO get some
information in regard TO the failure. The firm,
however, had no formal statement to make 10
any one OF them
II was noted before the formal announcement
was made that II was known the firm had zone
under. and brokers advised their customers To
pre- pare for it, This advice Started heavy EQUt-
datiou, and caused the first genuine reaction
that has occurred in The stock marle. for six
weeks but Lacllawauna. which was always con
Sidered under =. '. W hlte : influence, declined
only Der cent.
Fears were expressed on many sides that
other houses would be involved. but members
of the suspended hrm say no other firm IS in
volved with them. The members OF the New
York trim arc :. V. White and Franklin Hop
kinS.
Other Produce and Provisions.
ST LOUIS Mo. Sept. a2-Wheat-The an
nouncement of 4 New York failure broke the
market this morning cent Ut the opening, and
Subsequently II was very nervous and uu-
settled Later if eased OF and at the close was
liac below yesterday. No. cash, $50: Sep
TENDER, g5s,c nominal; October, e6c bid; De-
cember eall99isc; May 81 O5ai.
Corn-The same leading influence that
affected wheat operated in the corn market, and
the close was a61@5c below yesterday. No. ,
cash. a2c: September, Size, nominal; October,
47c bid; May, 30Is.
Oats-Firn. No. 9 cash, &c; September,
21l.c; May, Dfsc-
Bagging, 51aGJfc.
Iron cotton ties-s1 SOL 40.
Cornmeal-S2 9O92 %.
Whisky-s1 Is
Proyisions-Market is still dull and heavy
and badly unsettled by the financial furry and
depression in grain, consequently business wa5
moderate
Pork-Sll 90.
Lard-s5 70.
Dry salt meats-Boxed shoulders, 81 %;
longs, 81 l25IG 10; ribs, s7371a; short clear,
81 624.
Bacon-Boxed shoulders, Sc %; longs, IS OOfs
37l..
CHICAGO. ILL.,, Sept. a2-The simultaneous
announcement OF the New stock exchange and
the Chicago board OF trade of the failure OF the
long-established, well-known and wealthy New
York commission firm of =. V. White d Co,
with its branch house at Chicago, at the OPEN
ing OF business this morning, overshadowed
other items OF news and caused instant demon
alization in all trading pits, including grain and
hog products The panic was short-liyed, how
ever, and after partial recovery the market
became comparatively solid, though generally
at lowea range than that OF yesterday, and
the pits assumed their normal appearance. The
feeling was very nervous and zone weak,
Traders were on tlptoe, ready TO TN At the hrsI
sign OF danger.
Corn open unanimously excited. Brokers
who had deals with White & Co. making haste
to close them out offerings were immense,
''A'-s'
pers, but the market stood well at recdution un-
der the immense lead Of offerings and at times
advancing, closing steady.
Hog products less affected than wheat and
corn. White & Co. had only small lines in them
and after fuctuating witnin moderate range,
closed with insignificant changes from yester-
days last prices
Leading futures closed as follows:
Wheat-September, s6c; December. 90
Corn-September, 4s,sc October, 49ssc; May,
425.c
Pork October. $40 s5; December, $40 s5i
'1 LardSo e So SO; December, Is s7,.:
Short ribs-October. s. OK; November, 81 90;
January, g 72i..
Cash quotations were:
No 9 spring wheat-96c.
No. corn-iac,
Pork--si0 81
Lard-ss sO5s seq.
Short ribs-Sides, 81 0ol7 10
KANSAS CITY. Mo, Sept a2-wheas--
Lower. No. red. cash, no bids.
Corn-Lower. No cash, 46c bid
Pork boxed-S10 40.
Dry salt meats-Boxed shoulders, s. 10:short
sides, 81 ID: long clear sides, u 10 short cleat
sides, 81 80
Refined lard-S 10.
NEW YORK, Sept. 22.-Wbeat-Spct. active
ard lower No. red, 81 o. Options depressed
1:I1s.c at the opening. reacted ssc. ruled ner-
yous later. settled 1Glssc, advanced lsIi4c, and
closed steady Isx9Iltc under yesterday Sep.
TENDER, 81 O6i4: October, 81 051.; November,
81 07I.; December. 81 0S3i
Corn--Spot active. No. 2. soc. Options were
demoralized, fuctuated frequently and closed
s-Il1sc lower. September. 59i.c; October. S. &C;
December. 5iiic; January. 52c.
Codee-Options opened steady and uncian ged
II to 10 points up, and closed weak TO % down.
Sales, q, 5C0 bags. including September, sl42O91
Il 80; October. sl9 7I9,l3 %; November siI gJla
IL %; December, ell SOL g.; JANUARY. 81 $50
II 90; March, Sill Soil 60; May. slt 3p5ii ~;
July sii 30 Spot Rio dull nominal; fair car.
goes IKE. No. 9,f4Ic.
Sugar-Raw, quiet and steady. Refined 40
tive.
Molasses-New Orleans, firm. Good demand
Rice-Firln. good demand.
$500