Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1892-02-11
SCARED By A BILL
Traders on Change in Chicago
Experience . Panic.
'AsTI-opTIoN sitt CAUSES II


CucAeo. Feb 10. There waa d.
esdsdiy paaieky feslmS on the board
Of trade Tuesday. rs report brought
back from Washington By the pvesi-
fsnt Of the board that the unti-option
tia Wa lihely 70 pa~s Ne lower house
u eoagrsse almost threw the wheat
troAe - he whole country into
= Donin WheG3 Declined over
TO so.tn = tushel ii tke reg
ulsx trading. snd. so great was he
alarm ever tAe prospect Ne decline
csnoopod after tha board was eloseA
o. ~ eusb bRoAers were huyyying
srsnnd tsea e1co 70 eGIes tryi1e =
ell wbea2 - o1x cents los Nay. lour
sssts nadsT ~ Squire Nd lor u early
II he lsy.
osn@ pves~sh AGsstsA
WAsst vasnsQshs only product affect
- ~ too alar1- Corn wss lower; 90
were eaa1 - were provisiona Cotton
~ usw Yerk. very weak ~ the best
drspps4 - 49, fer Nay. the lowest
Pries hsard 81 n lfty yssrs; lower
than any boay ever knew cotton to cell
since future delivery SALES were estab-
6Ahed-
csaaiaslsa Msa Crow cassisasI
This drop In the prices wss not the
Duly demenst<atioa % alarm Commis-
sion housss became cautious Of custom
Sra Holders OF wheat bulls with
money. such - SID kenk w. X. Linn
and others. taking the ground that
u N antioption bill passed there WAS
great danger Of = panic. gave up
their aght ybr m advances and sold out
Altar the big men sold out the little
holdsrs stampeded. There was distress
RnsnR all sorts Of holders OF property.
The only man who got any comfort
was the shsrt seller. the Individual who
Was 70 b the victim Of the anti-option
bill
naaks Protest.
The banks, ss uneasy Is any Of the
DtherA hurried around memorial TO
b sent to congress protesting against
bill which threatened al the western
grain and provision interestA The
petition Of tho bankers referred TO
}ets forth that, in tho Judgment Of
5he petitioners the enactment Of
she Hatch bill. or any similar bill.
would b seriously Injurious to the
banking AID commercial interests of
NE entire country. and of the north
Rsst In particular. Congress u asked
% prevent the passage Of the bill. The
)ststien u signed by the following
banks: rirst national. Corn Exchange.
Bank Of Moatreal, Northwestern sav-
hgA uniea national. Chicago me-
kenal. Nerchanta' national. Hibernian.
Msrchanta' loan and trust lllinois
Datioaal American national. Fort
Dearborn national. AtlAs national.
csunsreial national. Onion trust,
American tsust and savinss and the
nerthwsstsEn national Every bank
bg institutiea II tho city approached.
nth 60 sxesptiea. rssdily aisned the
4et3tton
H WssA Aeatnss ne nm
Besides he protest sent By ths banks.
lnstitutions rspsssenting over 81. ooO.-
80 of money. the board Of directors
pppointed IN additional committee TO
10 On 70 Washington to make plain the
1angsrs Of even attempting 70 upset
she settled methods By which the
wheat corn. oats. cotton and provision
products Of The country are trsnsfsrrsd
trom producer - coaaumer
An Eaaass ysslAne.
CncAoo. Feb Alt was . crazy
1askst thst met the broker 1t The
spsninG ssssioa to-day. May wheat
opened anywhsss between seh to 81
cents. Than Il tumbled Ill over itself
g. t{un~ 0nrn~ voaanup;v~ H.