The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-08-03

CHICAGO, August AIN the first trans
actions on board Of trade this morning
wheat touched as high as Gle for Sep
tember, bulge ot9!c,
Notwithstanding the show Of conf
dance, the trade was expecting further
failures to-day, and the expectation was
soon fulfilled. One very prominent car
rier was widely known to be behind In
his margins, virtually broken last night
This was the firm Of D. Esgleston & Son
and Company. They were carrying lard
and pork for the bankrupt cudahy'
Wright clique.
The Egglestons were not the first to
20 under to-day, however. Messrs. G,
Parker 4 Co., we'll known commission
firm, started the procession, ordering
all trades closed. Parker 4 Co.'s an
nouncement added that firm, which
while forced 10 the wall ia even on the
market Following Parker came news
OF the suspension OF Thomas Greipg, q
fairly prominent trader, and after him
was the celebrated Eggleston.
All three failures had been more or
less talked OF beforehand and occasioned
little surprise though causing the drop
that occurred after the three firms
1t was wild market at the opening
and sales for few minutes covered a
range OF II for September wheat, prices
varying widely in different parts OF tho
crowd though all sales were at least to
above yesterdays final figures.
The announcement OF the failure oil
Parker 4 Go. and Gregg was almost un'
noticeable go far as an effect on the
market was concerned. There was q
decidedly different aspect to affairs
when the trades OF Eggleston were
publicly ordered cloaed as they were
known to be carrying large quantity
OF cash wheat. Their suspension Gre
ated a panicky feeling for few min.
utes, during which the price dropped
to 5Sf.
At this point it was discovered that
there was no wheat to be sold out fol
the suspended firm, I. d. Armour 4
Co., having, II was said. ISSUED their
holdings OF spot wheat. That loft nc
trades to be closed for them except the
wheat they had sold short againa
the cash atuG. That being the cast
themaIket quickly recovered tool cents
and when 1t became apparent that nc
more failures were imminent tho boom
commenced in earnest, With export
clearances aggregatingone million bush
els and gold being imported in large
amounts the timidity OF buyers rapidly
disappeared, and in the final half houI
the demand was fast and furious.
O. E, Eggleston, or SANDY" az he ID
almost universally known, was one OIL
tho leading figures In the KershaV
failure that resulted from the col
aapse OF the Harper corner aiS
years ago. On that occasion hi
lost Ss64,oo0 in cash trying te
save $4,000 special partnership inter.
est in the Kershaw concern. He hat
some money left, however, q vile worth
81. SOC. 900 and a $3.50, 900 son. He wen
into that line ofbusiness on very ex
tensive scale. and is supposed to have
made back nearly all he loat through
Kershaw and Harper.
Eggleston bimself refuses to make
any statement OF his affairs for puhlica
tion, but 1t is generally believed By
those in touch with him that he hal
put about $5Oo,Oo0 back into the game
and that D. Eggleston & Co. may bo Ii
the gap for S50o,O00, spread out all over
tho door.
Parker & 90. had nearly s5OO,OOO IL
cash in tho business and the house was
regarded as one Of the aoundest on the
board OF trade.
Thomas Greig Is scotchman aht
we'll thought Of, but has never had an!
great trade. He was long Of pork a
high figures.
The liabilities of the Cudaby-FaIr
banks. s.Wright combination as repro
eentcd by closed out trades on change
to-day Is estimated at Sl,000,00o TO 81,
100000 over and above their margin de
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