250ft is ok for Cat5 cable, maximum run length is 100 meters or 325ft approx.
Following on from Leos post below.
I would suggest the following, if both switches are accessible to you, take off all trunking config from the ports and hook up a laptop, make sure there's no issue with ether of the ports.
Next thing to check is the actual cable your using, is it a straight through or cross over, if its a straight through then you need to make sure that auto sensing is working on both ports else they will be receiving and transmitting on the same wires.
If there are patch panels between the link try using different patch ports.
Finally double check your trunking configuration and encapsulation.
Could be helpful to see the config you have on both switches if you can post that up.
2) Enable 'auto-mdix' on the interfaces, along with the speed and duplex mode, the former is normally enabled by default, but a quick look on your behalf reveals you have to enable this on the 2940 (this is not a model I am conversant with, so maybe it's old?)
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