The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-09-23

tooer delivery is unknown. but it must
nave been enormous for the actual arrivals
OF corn here daily for the past six weeks
appropriated nearly a million bushels.
and nearly all of this has been delivered
on september contracts, while the forward
ing has been nearly as large Much of
TINS grain has been bought at between 50
ana ~ cents, as against less than 80 cents,
the price today. One estimate of the corn
involved In the deal puts it at 1000, 600
bushels and the average loss on it at 10
cents per bushel.
Mr.. Day, of the firm of CounseIman &
Day, denies that his firm has had any
dealings whatever with the broken firm.
On application of Arthur w. Allen, United
States Circuit Judge Gresham this even
ing appointed the Illinois Trust and Saw
lngs bank receiver of the insolvent Chi
cago branch of the New York concern.
The members of the branch are Arthur
White, son of Deacon White, and Arthur
w. Allen, besides the members OF the New
York concern. The bill was brief. reciting
the organization of the firm on April II.
1889, and that by reason of the assignment
of the New York firm, the Chicago branch
was unable to continue business and had
L
tonight that the assets and liabilities can
not yet be aseertained, but the transac-
tions in grain have reached into the mil
hons. The failure, he added, is due to the
continued 'bulling' of September and
and October corn.
You see, after ALL" said Mr.. Prussing, SIT was
not old Hutch that was making the markets
lhe corn was purchased here for cash. and the
enormous sums required to buy it were raised
py the hrm among the banks, the latters' secur-
lty being the corn itself. receiver was ap-
pointed in order to prevent some creditors at
taenlng the assets, and thus freezing out the
others 10 whom the firm was indebted We
VIII know tomorrow better, however, how the
nrm stands. The failure shows that the farmers
olo not hold back their corn, because if they
had this would not have happened"
No sooner had the announcement of the
assignment been made than Chicago
creditors began an assault on the local
assets through the state courts. During
the afternoon several attachments repre-
sentlng small claims were filed.
PITTsBURG, Sept. 22-Rsa Bros. &
Co., prominent brokers of this city, cor
respondents of White & Co.. of New York,
have temporarily suspended business, as
result of the failure of Deacon Whites
firm this morning.
iStephen Van Cullen White was born in Chat
nam county, y. G., August /, 1851. When he
was weeks old his father expelled from
the state, and the family journeyed across Ten
nessee and Kentucky in wagon, settling in
Illinois stephen taught school. kept books,
studied law, ana about lS60 was leading mem
Der OF the bar of Des Moines, Iowa. In 1867 he
removed to New York and became banker. In
49, The firm OF S.V.White Il Co.was formed COM
posed OF Arthur Clatlin, F.W. Hopkins and White.
Whlte cleared a million dollars by operations
IN Delaware, Lackawanna & Western stock in
Marcn, 1854 In 1856 he was elected to congress
ana served one term He lost heavily in stock
transactions last fall, Jay Gould profiting by his
misiortunes he has always been a staunch Re-
publican, was one OF Beechers warmest friends,
ana is conspicuous member of Plymouth
church