The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-03
SITUATION IMPROVING.
rycrs DoOMED ON THE CHICAGO
BOARD Oy TRADE.
PROVISIONS Advance No'"''h''"nd'ng
Three Additional Falinrss-pstaii' as TO
the Downfall OF Pronniasat Firms.

.l.ce fresh failures. Excitement FOR
ar. was az fever heat. one collapse
chat OF the most prominent grain
q, Chicago. II not in the entire
a.. H. Ecpleston ~ CO. TWO
frms suspcnded-tieorse w. Parker
-. ar8 Thomas Creig. The new FAIL
however including that or Eggles-
x out Of the collapse In pork
I f.rl corners yesterday. Nhen THESE
.t OF the way. and other houses
tbo clearing house. there began
r..f.ng in an markets Wheat took
Ia With "A bound Of i-4c. in Sep
i". rrtcc went 90 81 3-fc.. with the
a. lie Foreign closed 1-fc.
arfcr selling nearly &c. over last
.s oats gained le.
DIVISIONS the packers were covering
Snort sales. and quotations rose
or pork. 50c. for lard and 81 lie.
.. % was Wild market az the
and sales the first few minutes
I range Of l SIC. for September
varying widely I'm different parts
.l4. although all sales were at
lac alove yesterdays final fig
T.e announcement Of the failure
r.,..r e. co. and Gregg was almost
50 FAR as any effect on prices
rrarnfd being regarded as the
- ...1ei ~ yesterdays downfall 81
,..l.lan clique. There was a de-
40orcnt aspect 70 affairs when
t trades az Eegleston were publicly
....-.l closed. as they are known 10 be
..-r..nc large quantity OF cash wheat
r...r e.sucnsiOn created panicky feel
t.fra few minutes. during which the
,... dropped Al this point IL was dis
.t.r.I mat there was more wheat TO
.H f.r Tho Eueupudod firm
D. ID. Armour q CO., IL was said as
..r.4 thelr holdings Of spot whea.. That
rf DO trade % IL closed for them ex-
...f fho wheat they had gold short against
OH. cash stuff. That being the case the
r.rret quickly recovered 20 Gle. and for
.... lime IL huctuated between sCc and
r..ie in a nervous way. when il became
.rnarort that no more failures were i'm
ruent the boom commenced Ina earnest
Win EXPORT clearines aggregatng .000.-
U bushels and gold being imported In
frr- amounts, tie timidity Of traders
randy disappeared. ~ H. Ream led the
rurelasers Commission houses began 10
rlr buying oi iers from outside as the
session advanced. and IN the final half
hour the demand was fast aud furious.
y. Fggleston, or SANDY as he is
..uost universally known. was one Of the
I.I1iue figures in the kersaw failure that
r..ultod from the collapse Of the Har-
r.rer corner six years ago. On that occa-
Sion he lost sl6f.000 in cash trying 10
save 5000 special partnership IN the
U- kershaw concern. lie mad some
money left. however. mis- wife being worth
IS 10000 Being the best posted man I'm
fte trade in the iutricacies OF the grain
and provision carrying business, and hay
rg tne confidence OF the banks, he went
n'o that line OF business on very ex~
t.reive scale. and is supposed 10 have
f.nfa back nearly Ell he lost through
E.rshaw X Harpener.
T-cleston himself refuses 20 make any
statement OF his affairs for publication,
Dot &c is generally believed by those In
touch with him that he has put about
10000 back into the game. and that
Tr-ieston e. CO. may be in the gap for
10000 spread out all over the floor. How
much Of that IS protected by margins
cannot be ascertained 20 certainty for
several DAYS. j.. Egeleston d Co. acted
as cfcarinr-house for a dozen or more
active. hugtliuE brokers. who did not have
Che means 90 swing their trades. The
failure sets them high and dry ana may
arri.rr4ee thcm considerably IdfhtI a.
On mad nearby 10000 in cash I'm the busi-
ness and the house was regarded as one
~ fHe eoundest OF the Board Of Trade.
81 Do nor know where i stand said
George Parker. Of only know / cot
caught fn The gap f0r more money than
j could mise. and ! had 10 lie down. 1
considered myself as sound as the bank
or England yesterday. To-Day am
broke J had q big line OF PROVISIONS on
nay books. and my principals We're uh-
able t0 respond 10 margin calls. ihat
ien joe 90 stand the racket alone ana 1
was n0t strong enough Tor IT,
bank or WrightY'
"AI ~ them"
thomas Creig IS a Scotchman.
and vyau thought Of, but has
mover had any great trade. lie was long
q pork az high figures. The liabilities OF
te Cudahy. Fairbank end Wright com
luau1n as represented by closeu ou'
trades on Change today are $,yvD'VV ", 20
s. ruD0 on margin depositors. The Cud-
div Packing Company, IL seems, Is not
l...1v.0 An the failure OF John Cud&hy'
Od il As given out as one OF the
t-5.'s hair secrets that NE sacrihcad
fle interests in the concern ana also IN
tr. cudohv Packing Company, OF MIL
v.ukee. 10 raise money to carry on ms
sa.eu.ation. his brothers buying MN
u.t. A feature Of the day was the open
laymg n everything In the list by AT
mour brokers. His purchases were on
,.-, Igrra ecale. Trading in the other
rfs. however, was d~arfed oioi'sslue u
wheat. H..
c.rn opencd excited. with sales fra
don above and below the final quotauo Is
u Yesterday, and under a good dema TO-
,... TO- ON free buying, sold Up
lr>. ancrward working back S-ac.'
GLANCED some. ruled steady, and az TIE
U. had gained l-Sal 5-ee.
oats made an advance Of S-4dlc. Out
Glib. rrures were not maintained at the
cs. hut a net of Stal l-sc. was Is
ttsbol. Tire strength came rom 0o,n,
l.. ads, iron wheat There was also
liberal demand from shorts and less
fressur. f1 sell except on the bulse'
The provision market. after Its severe
..fo.eg the day before, opened quiie
c.r,af.ersrf Resides Armour & Co, Mel
t.. Morris & Co. swift & Co, the Anglo
.r..rI..r packing Company and olher
hy hacking concerns who have been
thserfres during the Cudany regime al
t.s a hand once again IN the 'rahsae-
t0.s in the pit. They came as puy 10
tr nae most part. IN. ,o
There WAS a large business uoho :"
..f flr export, 5.VoJ uerees Doi" IT,.
t.r-.f taken for England and 600 uerces
t- Germany Following promptly on the
lc.anse % the price IL Is not posslo'e
r.t flls. foreign shipments are CONS
forward ON Chicago account. Lara anu
oNer commodities. &c Is said, can DE ca
re1 much more cheaply abroad IMAM '"ey
can Dom. 20 present.
Closing prices were AT the top Tor 'he
t.y Estimated receipts fer tomorrow,
Wheat 300 cars; corn, 80 cars; oats. ~
GAYS. hogs 5000 head. freights were
t-l thc inability az shippers TO sen eN-
change checking business. Rates We're
4