Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-05-24
|. J Price, Mccormick & Co.
New York Today
Ind EXCITEMENT IS HIGH
.y..lws y,rousy Estimated at from One
70 Three Millions
,xrrOF BEAR MOVEMENT

s,opsed Down l92 Points -
/ ~, FaIlure, RumOred-nark
Regain. cOmPOsure'
4 YORK May 2l.-Announcement OF
. anne Of Price. Mccormick s. co.
4 -Atoday by the chairman Of the
4 r,k stock Exchange. The firm
a Theodore Il. Price, W. @.
4 ,~ek r. NJ. stewart-Wortley,
4 !, " Price and George Croker,
4 ,ssra special partner The firm
4 - Of the most active and had
4 gi o. town connections. The
4 partner MI. Croker, is Of the
4 California family Of that
The announcement Of the sus-
/ created great excitement on the
1, exchange and led to general
Il under which August dropped
gto 80
L. Orleans and Europe were con-
b, sellers on the break,
4 ys development on the cotton
rgs marked the elimination OF
4 she biggest bear movements ever
4 IA Previous to the suspension
Mccormick & Co., the market
.aNn over twenty points under
llng for both accounts, which
Don al directions. August, the
u.ye option, broke from S.54 10
cd after having rallied 20 S.5S
bose when the failure was an
ael The Liverpool market was
j. DO, this fact appeared to have
"a IN restraining speculation. The
-Ht was Intensified early In the
ncl by rum0Is Of other firms be-
n financial straits.
Mccormick & Co. have long been
W Is The leading supporters OF the
b ant at one time Il was said
Il 1ey were going to put August
Niiol 20 10 cents. The decline Of
4 t month was against the firm,
spIie their Efforts they could not
o. market up. Therefore. today's
i1snis did not come as a total
though they had sufficient
% temporarily demoralize the
extent Of the failure IS not
though it is believed the firm
dAy reduced lbs holdings during
it Few days The firm IL one Of
~ prominent in the street and
ad 90 have been long Of cotton in
~ q a fast falling market.
% is impossible 10 get any
islfes various firms In Wall
'aN the firms loss IN cotton at
N4 % three million dollars.
ls doors OF the offices OF the firm,
vas posted referring all in
. VIM. j. Curtis and VIM. n.
ta. assignees AT the Office Of
= slees, lt was announced that a
t.aiement Of the assets and la
4 o Che firm probably would be
s'sf 10 the day.
.o,ker as special partner, II Is
s'.l, contributed Go the firm
special capital. The present
.A UganIzed Jan. 2. 1897. Up TO
G one o'clock. 1920 shares Of
4 Al Been sold and bought under
~ o the stock exchange for the
2. Price, Mccormick & Co.
A.yoImlck Is a member Of the
!. y &riclIiural implement fame;
s..ari-W ortey Is n son-in-law
Alnlral schley. The firm has
3 .li-oi-tovn business.
wig The announcement OF the
VOC cotton market became panic
I. ana broke 10 20 10 points. The
Y lne decline from the highest
ls, lhe bun movement culmln-
-4 been l22 points.
\. 'lIlIes were said 10 be i'm |
y. yum he name Of one promin- |
mentioned but this has since |
--.'aly c0nralicted
y 'le session the market be-
-.J but continued To show a |
~ r.4'i'ohe on the generally very |
h, uop accounts, The market |
Y, w. t showed a net loss Of 10 to |
r.. having recovered from the !
i OPPRESSION.
y, @.,yormlgk & Co. were also
/. OF lhe produce exchange |
r. no formal notice OF the |
p'n'lon made there up TO |
q n. . , not O prominent opera
% produce exchange and the
Sentimental was aii'lost
s, ',-'.lsd about Z Of a cent.
m there were sold n 600
res.,,.o-A under the rule on the
\, c -.se 90 meet the firms out
,r. ,,.l,Iacis There was a re-
| BAL i't, !. %, me effect that the firm
b 1917 10 make good the dlf-
p, /, t l's May and August
ntton W corner the
i NY. caused the decline NJ
s,sis, , gs4I IN the standard rail-
h., ~, !. ana p. from to 2i5 Der cent
c,s~oo..',' zoe list Asslgnees Curtis
ns c,.5 ig,igarding the failure,
''is Oh Price, Mccormick
y II C,oTmick & Co. have been
Es NJ. .gslporauly suspend paw
h4Bs aqi advise that cred
Pal n 'oehs bonds and other
pa io,s, oans and already well
oTgrIi.lA e loans until reason
"a unity b. Afforded ~ ss
w h.. .llh The same. thar un.
'ueIeoy may be avoid.
r.- -