Show gralto san smi francisco F in a fever of excitement excitements I 1 0 r ME CRASH IN WHEAT through tha ventur vent ar 3 of dresbach and Rose Ilfeld IS FINALLY ANNOUNCED thiry the y lift met the tile calls as lone lona ns as tle the banks would trust ap AND 11 FLOPPED the holders will suffer immense lonce losses numerous Ku meroni failures 11 predicted as A new near result by W an 9 firm fir m tn in th I 1 SMASH dresback cb md and boien feld go down matters looking suspicious SAN francisco 11 august 27 tho announcement was mado made at 11 SO this morning that diesbach and roien geld the bull operators in in wheat could not keep their ng agi cement to accept nil all A heat tendered them and the call ca 11 board was basat at once adjourned without any sales being offered this is accepted as big the complete collapse 0 of f the tile wheat ring but what effect it will hao on the street ie is not yet et known the street ia is practically at sea regarding the outcome and few can be found to hazard an opinion ns as to the outcome the fact ia is well settled that farmers having baying unsettled contracts with dresbach and rosenfeld ll will ill have to bear the big losses growing grow ing out 0 of tile deal this afternoon john rosenfeld filed a deed transferring trane trans fering all hie his property valued at two hundred undred li thousand dollars doll tr irs to the nevada bank this is supposed to prove lie tile connection of that institution willi with the tile deal NEITHER MACKAY MACRAY xon an FLOOD could be seen at their offices today to day and it was not hat that they would As make a statement in any event vice prea dent brinker of the nevada iaco I 1 to 10 malo male a of any kind joity in explanation of 1 he the detrion reached by himself and dresbach DreB bach to 0 o not carry oil out t their i cen contract tract aid taid i wo we have pi imi I 1 lout out nil all the money we me had ij dand and failing to get any tiny inore eions tit their hands lia nae have iad to eto stop that is i all there ie is to it someone will make a gi eat deal ft of money out 0 I 1 of this for those who Aho luethe havethe coin 1 I mean people in england engl ind will W 1 able to pick up the wheat we lie aro are holding li at it song if we ne could hue have gained time wo no might hae ilave pulled through but now all sill ie it ov r aith us money has been tight nil all alun gand the real estate boom has fiade ade it tg liter and arid hut us off arout all accommodation 11 THE CALL board has adjourned until nest monday but even ven 0 though a notice lifts been given by dresbach cli and rosenfeld to bell sell all the wheat heat A in their name it is I 1 dieted that the board may be again adjourn ej for an indefinite inde period hough though how they w will ill mend matters doc does not appear ear TUB BUYERS AND FELLERS As near as can bo be ascertained after returning the original deposit I 1 money of the buyers and sellers at he the rate of four dollars per ton on oil the tile tons named in lie tile agreement of august rd chich reduced lie tile margins i alls from per cental to 03 Dr ebach asbAch and anti rosenfeld further margined down about forty thousands tons to they paid out large sums for tide this puru roie u during he the laia few das days and today was ho the day when hen the he remainder tell fell duo due it would require baboul four hundred thousand dollars to meet this part of tho the agreement inability of dresbach and rosenfeld to 1 kiy ay iy out any more money therefore leaves about sixty thousand thoi iRand tons of cheat in the lundi handi of tha holders li standing gt andin to them at taw per cental which cannot bo be sol 11 I 1 except lit at panic prices it 1 ia feared thia this will camye MU additional trouble in the trade for it will involve heavy losses upon ullon the holders who had confidence in tho the ability ot of Dres bacri rosenfeld to meet their obligations of he file itne tone of vt beat placed by dresbach ebach rosenfeld llo benfeld in lie hand hands of ho the directors of the tile produce exchinger as ns no cuny for ho fulfillment fulfilment of tho agreement of 3rd ard about tone tons now remain having harln been ro re leased as tile margin money was returned this tone tons of tt beat wheat could coul not be ou today to day div tit over or all ull that tile 0 owners of ton tong costing per cental or hae have to isuru f then tho the lohs loss win m lias has kaaa an all assignment to C 11 II stone of all his II 11 IB property for tile belie benefit fit of ilia credito tile amt his thia afternoon says tito feeling in is generally cene nilly rally prevalent provident that next w 01 c will ill ly tj times me a i i 1111 I 1 lifts al arc are confidently predicted that drca bach and rosenfeld ever intended to their agreement is freely scouted u led hy denb ra ot of ilip flip board O 0 iho the influence of ofilio the ring their intention being simply I 1 to for time line I 1 XA macklyn CrY 9 declaration thil fedaration detla ded ration madi mado by mackay ehg gabor day baa tha effect ha 11 I 1 elj r ever iam iii 11 alit future carrying arr out of contracts as it tended to confirm the general opinion that the nevada Nc idi 11 II ink lk had liu I 1 more inore iiii nute mate connection ith the tile deal than its managers mina gere cored cared to admit issiac lay kay really meant what he said about carrying all the tile wheat that WAS offered ho lie lias has apparently changed liis hig mind in in regard to supporting tho tile in in i operations of 0 ti it and Rosten lell tile con connection nelio of 1 hace alice gentlemen it v hile it ie is still anvel enveloped in n certain amount u it of Illy maslen dery m hlll ill probably now bine have sufficient light throb n il upon on it to lete definitely who the their ir backers really were ft ere that they themselves dimpy men was generally genc Mily admitted it being out of reason reison to mil sill rose that people of their exceedingly exceed ingi limited means could possibly have carried an amount ct of v wheat running into million millions that flie The losers will submit quietly to he be pinched upon any suh such apropo preposition ie is unlikely and the consequence aill ill bo be lift law suits which will eventually de the quarter from whence the backing came illi |