Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-09-24
Galveston NooI NInrkrt.


iSsIEumeU: AND Suspension.
NEW WORN. ~.p.. -. TIN. ..a,eur,.u,,..,t az
the ASSIGNMENT a-.d ~li-, .'u~luu az = \. Whit.
:, 90. =: Ng'T Eprl, lu.. !i!v.En was mad. Du
the s.ocS r't,yalr' - lu-;1 "'c'ogi jh'S Eoru-
80. Mr. White saw H. s.i'u.r' is ,.u,' 10 lnl.
speculation ~ corn r:t Hp- IA stocks. Tra
liabilities o! tie firm arr heavy. hut oliy f.gY
hundred shares OF Stoy.- s.v outstanding uE
The climax ai 10 day ca..:,,rouh, la> bee.
The 3pur,. 'hus combination Ter lire last iva
"ycES. Tie l'W~, Wi'rG A.- been Slrt.l.iI
guarded. lrai5rti out yesterday afternoon aft.
the closing ~ the stock X, h.u.c Tie assign
Inout OF the assets 0. The NINA rr.lSSrd !irm w.
tnca said 10 have been made. b.: gut recorded
mere We're M contracts o-istartinS "n the
iioot OF ne cotton eNr'rt2Er. and no excite
mcut was caused thcrebV.
When the announce mont OF the suspension
uadr, Mr. l.. Z. Sltdmau. u friend, was
authorized 10 make the following statement:
90 The cause Or TIE trouble is dgr wholly to Tie
dec.in" IA corn. The house has heen long u
septic, brr and October corn The immense
receipt were 100 much !er il 10 stand.
The private fortune of :. Y White 81 long
u"tcd '"r tho success aui b":dncss Of his spec
ulnttEr deals. j. estimated al $h0U,C0
Member OF che firm who were borrowing
stocks IRON :. Y. White & 60. received nouce
from the iira before tlc opening of business
To-Day 10 sell these shares, and the market
fuU,- .ht shares with SLIGHT trC'nur. Holders
who Hgd privileges from White " 90. Chiefly
rat--. and who went snort g-IiG,t their op.
t'olS, now ind themselves ~ tie prcdicImcut
@. having 80 cover.
The failure caused hut little excitement AT The
produce eye lIH.sc Tor lie reason that but fcw
members we're Interested IN ,hy deal IL Is
stated The failure affects Chicago. The priuci
pal Office az the firm. after the announcement
uf the suspension, WAS crowded with bankers
brokers and reporters all trying 10 get some
information in regard to the failure. The firm
however. had no formal statement to make &c
any one OF them.
Ii was noted before the formal announcement
was made that II was known the firm had gone
under. and brokers advised their customers &c
prepare Tor it. This advice started heavy liqui-
datiou, and caused the hrst genuine reaction
that has occurred in he stock market for Siy
weeks. hut Lackawanna which was always con.
sidered under :. V, Whites influence. declined
only rer cent
Fears were expressed on many sides that
other houses would be involved. but members
OF the suspended firm say no other firm is in
vOlved with them The members of the New
York firm are ;. Y. White and Franklin Hop
kinS.
Other Produce and Provisions.
ST. LOUIS, Mo. Scot. 22-Nhcat-The an,
nouncemeat of a New York failure broke the
market This morning cent at the opening. and
subsequently it WAS very nervous and I'M
settled, Later It eased OH ANA At the close was
&c below yesterday No. : cash, 4di4c: sep
TENDER 9j5tc. nominal; October 95c bid; De-
cember &EsYsl5c: May. II uiai.
Corn-Thc same leading influence that
affected wheat operated in the corn market. amt
the close was asGlSsc below yesterday. No
cash. 52c: September. 5Ia6c nominal; october,
= oa ats Fin 10. cash, &c; September.
@7isc; May, 50Sc.
Bagging, ~ s6E.c.
Iron cotton tea-s1 aj&Lt 20.
Cornmeal-S2 JOtL2 %.
WhiSky-Sl Is
Provisions-aiarkct is still dull and heavy
and badly unsettled by the financial FURRY and
depression i'll grain, consequently business was
moderate.
Porl-S!I 90.
Lard--S5 20.
longs, s. EXC 10, ribs, s. 37!s; short clear.
81 655.
Bacon-Boxed shoulders, 50 q: longs, 50 coo
12is; ribs. 81 Oo9,s 10; snort clear, s. $50
$ S7.:
CHICAGO. I'LL, Sept. o?.-The simultaneous
announcement of the New stool; exchange and
the Chicago board OF trade Of the failure OF ths
long-cstah!ished. well-knOwn and wealthy New
York commission nrm OF ). Y. White & Co.
with its branch house at Chicago, at the open,
ing OF business this morning, overShadOwcd
other items OF news and caused instant demon
alZation in ali trading pits. including grain and
hog products. The panic was short-lived, how
ever and after a partial recovery the marEet
became comparatively solid though generally
alta iowea range than that OF yesterday. and
the pits assumed their normal apperrJn"' tbs
feeling was very nervous and tone wcas,
TradAs were on tiptoe. ready to run al the Irsi
sign Oh danger.
Corn open unanimously excited Brokers
who had deals with White & Co, making haste
TO close them out offerings were immeusr,
being absorbed chiefly By receivers and ship,
pers. but the market stood well at recdutioa w.
der the immense lead Of offerings and IL times
advancing, closing steady.
Hog products less affected than wheat and
corn. White Co. had only small lines in thetE
and after fiuetuating within moderate range,
closed with insignificant changes from ycster'
days last prices
Leading futures closed Us follows:
Wheat-September Doc; December s1'
Corn-September, 4sssc: October, 4s3ic; May,
423sc.
January, sig s.
Lard-oetoDer, &c IS; December, &c sI9,;
81 ON.
Short rips-October 81 G2II; November, ~ %;
January, 10 d2ia.
Cash quotations were:
No spring wheat-56c.
No. 2 corn-49c.
Pork-si0 81
Lard-s6 SO66 s21s
Short ribs-Sides, g. OOl7 10
KANSAS CITY, Mo, Sept @-wheay--
Lower. No. red. cash, no bids.
Ccrn-Lower. No. cash, 46c bid.
Pork boXed-Sl0 40.
Dry salt meat5-BOXed shoulders, g 10: short
Sides q 10: long clear sides, s. 10; short cleaI
Refined lard-s5 70
NEW YORK, Sept 2o.-Wheat-Spct, actiy.
md lower. No. red, 81 o.. Options depressed
,49l4c at the opening, reacted &c, ruled ner
'ous later. settled i115sc. advanced tGIc, and
closed steady l5.9la:c under yesterday. Sep
ember, 81 OK; October 81 05ti; November,
Il 071S; December 81 0S31:
Corn--Spot active. No. 9. Coo. Options vera
fluctuated frequently and closed
':GliSc lower. September, I9.1c; October, 5s1sc
December, 54kc; January, Sc.
Coffec-Options opened steady and UNCHANGED
a 10 IL points up, and closed weak 10 81 down
sales, "a 800 bags, including September sl4agG.
4 80; October. Si2 Bob %; November, sI1 $50
g co. December sll s5il.il g.: January, 81 $50
l 15: March, Eli Syl1ll 80: May. Sill stl. il II;
July, Eli 80. Spot Rio dull, nominal; fair car
.oes, Eisc No. Z, 1i1Sc.
Suear-Raw, quiet and steady. Refined ae-
i've.