Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-02

CHICAGO. Aug. 2.-Recovery seemed d
be the watchword on change today at the
start Wheat. which closed yesterday a
ss 3-s September, opened this mornins
s-Sc. higher at 60. with some sales si
e0 IL. an advance over &c. a bushel. porb
was unchanged at u September, lard
l-2c. up at 6ye2 1-2 September, and Sfbs
Zoe higher, at $50 September. Wheat, soon
after the opening. however. sold on tr
So S-4 and pork to 11.4O
In the first transaction wheat touched a.
high as 81 September a bulge of 2 l-2c
Notwithstanding the great show OF con-
failures for today. and the expectation was
soon fulfilled. One very prominent currfer
was widely known to be behind in his mar
gins-vtrtually broken last night. This wss
the firm of ID. Eggleston. Son and -
They were carrying lard and pork for the
bankrupt Cudahy-wright clique.
The Egglestons were not the first 20 go
9haer today, however. Messrs. George q.
farker and Co., a well-known commission
,raa nrm started the procession, ordering all
oraoes closed. Parker and Co.'S announces
ment added that the firm. while forced b
the wall; Is even on the market.
,,sns,n rono%ang - Parker % came the news OF the
suspension OF Thomas Greig. a fairly prem-
inent trader, and after him was the ceie-
brated Eggleston: All of the failures
and occasioned little surprise, though ca1Is-
ing the drop that occurred after the olsep-
ing bulge. The three firms thus broken
with the mammoth deals Of Jonn cuds,sy. w
A break of &c. on wheat accompanied the
failures. Wheat fell 70 s. "a but rallied
quickly, reacting TO 50 IL or within half
One of the features was the deciaed
strength In ribs. September advanced
62 1-2. with only slight fluctuations TO s8.
Pork dropped of 81 to 81 September. but
more than recovered the decline. going
back up TO Ha26. Lard followed pork
rent that p. ID. Armour had provided for
the cash wheat Eggleston was carrying.
Egg1eston's troubles. II was asserted.grew
out of provision and not out OF grain. The
Eggleston suspension on the strength of
this statement operated to firm up prices
OF wheat rather than 20 depress them
had the futures sold II soon became evf-
dent that the cash wheat was not beng
sold ana this fact was accepted as osn-
up that part Of Eggleston's load and pro-
posed to move IT.
Large seaboard clearances were also .
only the covering of the futures so the pie
and lifted prices bodily.
Before the noon hour was reached nquida-
tion seemed to have expended itself and all
the pits were comparatively quiet and
steady. Armour was large buyer OF park
at 81; The Anglo Company purchased
much lard and Nelson Morris took hold Of
ribs. At this time. compared with the close
last night. wheat showed a clear gain ot
exactly cents bushel. Corn was up -
and ribs, soc.
The house Of ID. Eggieston, Son 4 Gem
peny is I'm the hands of a receiver. who
when asked IL he could make some sp-
proximate statement OF the FIRMS AFFAIR."
said: Il have nothing whatever to say 20
the press at this time"
Neither Mr.. Eggleston nor his son was
in the office. They had large real ests ts
interests as members OF the firm OF Egg
gleston, Mallette a. Brownell. which owned
a thriving suburban tract of land and
houses known as Eggleston. just south OF
Englewood.
Eggleston's friends say he could have
retired a year ago with a fortune of 8, ooo :
0oo. but he would not profit by his million
dollar experience IN the Harper wheat
corner Of six years ago.