The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-08-03
.CARRIBDDOVN WITH PORK
Three More Failures on the Chi
cago Board of Trade.
THEY WE'RE WITH CUDAHY.
Armour Comes in and Saves the Wheat
Market.
Now That the Storm Is Over There VIII
Be Smoother sailing-An Pork Pro-
ducts Show an Advance, While
Wheat Holds Its Own.

CHICAGO, Aug. Pit looked as if yes
terday's thunderclaps had cleared the at
mosphere of the board of trade at the
opening this morning. September wheat
started pa higher at go, with some sales
at COZ, but later sold off to 593l. Sep
TENDER pork opened unchanged at II. II,
but weakened to LAO; September lard,
121a higher at 6.62H: September ribs, 20
cents up at $50.
The buoyancy, however, was short
lived. Soon after opening the failure of
ID. Eggleston Il Son, we'll known firm
engaged in carrying lard and pork for
the Cudahy- Wright clique was an
nounced, also accompanied by that of
George 6. Parker 81 Co., a well known
commission firm. Then came the sus-
pension of Thomas Greigg, a fairly promi-
nent trader. All three had been rather
expected and all three were more or less
closely connected with the Jack Cudahy
deal. This caused break of yer cents
in wheat to 5S%, but rally quickly fol-
lowed to 601z. Ribs remained strong and
advanced 10 621a to 6.S5; pork declined to
IL, but recovered to 1925, lard following
pork.
AS the day wore on the report became
current that P. d. Armour, the great
packer. had provided for the cash wheat
Eggleston was carrying. The Eggleston
trouble, it was asserted, grew out OF the
hog product and not grain. The conse-
quence was tendency to make wheat
first. Large seaboard clearances was also
bulling factor, before liquidation
seemed completed and all the pits were
comparatively quiet and steady. Armour
was a large buyer of pork at $500. The
Anglo American company purchased
much lard and Nelson Morris took hold OF
ribs. At this time wheat showed an adj
vance of cents over last night. Corn
was up y ais, pork unchanged, lard
32K higher, ribs 80 cents.
The failures of Eggleston d Co. and
| Parker & Co., also that of Greig grew out
of yesterdays crash. The fact that Ar
mour assumed Eggleston's great holding
OF wheat is ali that saved the market
from another panic. G. B. Eggleston,
better known as "Sandy,o was one OF
the leading fighters in the Kersaw fail
ure at the time Of the collapse of the FL
deity bank six years ago. On that oc-
casion he lost $500, 900 but had some left
and his wife also had million aud a
half. It is believed he has been let in this
time for about half a million personally
and the firm OF D. EggleSton q Co. for as
much more.
Parker & company were doing business
for the Cudahy, Wright Fairbanks COM
bination and their failure today was a
logical sequence. Their losses are r9-
garded as about $500 900.
Thomas Greig has never had much
trade, and his losses are estimated al
about $40, 900.
On petition receiver was appointed
for Eggleston q Co. this evening, the LA
bilities of the firm being given at $500,
600.
A. w. Wright, who went down yester-
day, assigned today, but no statement is
given. His resources are believed to be
exhausted. He was rated at $3.50, 900 {
year ago.
The North American Provision com
pany has assigned with assets OF $500, 900.
No statement of liabilities given.