| Show GRAIN FIRM GOES TO THE WALL l lIn Eppinger Sr Co of San Sn Francisco One of the Biggest Biget Dealers Delers In Grain in the United States Fails fais for an Immense Sum Cause of the Crash San Francisco June Jomie JUle 6 Eppinger Company of this city one of at the Ih largest grain Iraln dealing d firms In the tine United States Stated went Yent to the wall ovail wal today The Tine crash came suddenly and for tor n a I time timime threatened to completely upset ulI et the thu local grain gr ll market As Ay it was trait the an announcement of oC the time failure caused luse a abig abig big bombing of ot prices on al change anti and wrought up such excitement as a has hus not been leen witnessed on the tor for tor many years It is thought that the losses loses of at the linn I may minay ma run up Into the millions milons while Irm the London Paris and American bank the tine money house mouse with wih which It ii I deals del wilt trill also alto It Is II said suld suffer surer heavily wi A meeting m oUng of ot the creditors It is now In session sellon The Tho failure of at the Eppinger concern li is lithe the greatest and most Crutch crash In Imn the California grain grin trade since the th time Ume when William WIlam Dresback was WA forced Corcel to the tine wall wal some lome seven men tl or eight years ago Although 11 there had b ben been n a I whisper hl per of ut uncertainty In Inner circles lot for several days as to the standing of J A 0 Company none of ut the time brokers brok wee was at atall a atall all 11 prepared for the startling announce announcement ment that was made inside on change It 1 was wan WAi known that th t the company was short en on enn eu euit n it heavy heA amount of at Dec D mb br r wheat heat and f the outcome of ot the announcement in th the face of tints this condition at nt once brought about abut the most marked marke nativity activity Creditor of at Eppinger k Co eo at once began buying butO against the amount for tot the tine t of ot the th u rn led firma firm ra with wih the result that thI h t quirk quickly ru ruse rUM from U at lt th ti time opening to 1144 After ter the great bulk buil of the contracts had hall b been n HIM the til market weakened somewhat and the 1 price to 1111 11 While It I has Ie Wen Impossible to se H secure Hur curt cure ur any al Information ns as to the exact extent of ot the failure It I 1 Is I belief of th street that It I II li extremely ly b h heety I and Ind severe The TIll connections nl lon of ot Co 0 are numerous numer both on the Pacific coast cst and In th th the grain markets of Eu Ru Euro lb ro rope roe r The firm embraced Jacob Jacb Eppinger ippinger tine the tle founder Herman Eppinger and K E I Eppinger I Up tp to the th dissolution of at the thelt greet great lt combination which controlled the tho grain bURne charter hartt prices r 1 nail anil contracts contract Co w were er re morn memo bern bent 1 of ot a S combination known knowl ng as the lug Ills Pour This combine was 11 In eon comm on trl of warehouses nil all al over the state notably nota hi tho tl those e at t Port lort or Costs Costa dl about six fix Ix months month mOlt ago aco alo Th The oth other othu r mem m m W Id Co ben bri wan wa George C Co anti and anI Eyre re It I reI la is I the general opinion that the caulO cause for tor th the failure of Ir on ona I a Co dates date luck lack to an nn Incipiency five fre or six months the Dig Pour Four com combine m bine was caught heavily long on ship chartered at al the highest last list year and short on wheat wheal whIch Ins had been leen sold as ins low as sio O and cinch rose r e to 1160 10 Time The Tie combine was IS given ghen givena ghena a no very ry severe squeezing and It I A as at IS currently curen I reported In lit grain circles s that hat the tine losses amounted to OO In iii Incurred Incurred in covering the enormous short lines Of this thle big biG loss Eppinger Co Ci ii wetS forced to stand their share sinare It I la is t the belief that the lows lers shared the hi loss lo losson s son on equal thernis This would have re resulted suited RUIt the firm In a 1 loss of oC about mOO to Irm It 1 has bite been Jn the custom of oC the th firm It ItIs I itIs Is declared to advance considerable sums Hums of ot money to farmers throughout the th state on wheat whet crops crop it mod ml it Is pos pOI possible sible Ibie that this timis name done this was year Iea Present reports from the are aie a that the crops will wi be b comparatively failures and this news inns hag hll a very rr depressing effect on qin n the mark t I t IThe The final crash was isas wa precipitated fhI d by bythe tins the London Paris cain an bank which within the last two t iw o 0 tb tl I co days made iad peremptory cud d in 1 ivy an dc tic d mands on the he firma firm of r Co O 0 OThe The Tine obligations ohl were el firming DressIng 1 IDI aol tho the 11 linn rm could coull not meet met them h i l f tn m t notice of ot insolvency I WM vms Wa sent fent to tl ii the tha tho exchange In addition additon to tho the grain trailing trading tho the of Company Compan iiI I 4 i huge hug business in warehouses warehouse Attic Aside horn flom the tbt lug Dig Hl Four Flur interest in the lit Il usta v rhou s the firm controlled grain storage plants tit Sacramento and San Sari vil viland vt dl s 8 santI antI and in all al the grim grain grIn centers i r ii I st if Among mon these theae thes were at Dixon DUon Woodland kl dJ 10 las Ia Robles There was connections In every Eu penn grain grin port and the firm ut a t o usual u aal thing held heM many charters charter on grim tar oar rIng eying ships Jacob Eppinger head bead lead of ot the iii firm Irn has hia ha been In ill 1 health for fn tome some er and ami hat has hal been forced orl to turn tur over r hi hn ars arsIn In the management much f 1 I I f tr to his hi associates A few tt yeni nf eg 11 ho he was reputed to N be t worth i s T 1 of his zone jons Perk Peck and Joseph Jseph are In the tb racing butini si as lug other ten ion Unman Is interest J 1 Un a athe the grain firm finn RIO 1110 On Ore Jun 6 Company the San Franc IMO grain shippers who nho failed today own a Interest In th the t Warehouse company the largest arest p pars ra of grain from the tbt t |
