, 1873-09-28


day, but firm. There was no special incroaso Of
confidence in tho financial situation, nor any
particular encouragement in the tone Of adyices
from other points, but strength which resulted
from the fact that tho great maes Of operators
had at last reached point where como of them
could aaaume tho position Of masterly inactivity.
and the others could do nothing. Tho action OF
tho Board Of Trade yesterday had cut OF option
trading for tho present, except in aottle~
mont. and tho bona 1do sale Of prop
erty to be delivered during tho carly part
of next month, and thus oxtingushcd at ono
stroke o largo part Of the tradlng usually
Witnessed on Change. Tho receipts woro larger
than yesterday In grain, but not heavy, and
WAS no pressure on tho market to dispose of
atockA IN store, as tho woalt-shouldercd onoB hal
already sold out, OF been sold out, during the
earlier days Of the R'ano Hence tue leading
numerous ordcrs to buy cash graiu and pay the
| currency therefor. There was plenty Of money
on tho foor for this purpose, principally for
opasaea o1to tSaY
should induce further advancc in
prices ~ rsg sssng gso5 to ndb b naMexs an1ious
prevent radical Tise in @ Wheat Witch @ was d Wanted
By several parties at once while they did succeed
III holding down other markets to pearly the
figures Of the day previous.
Tnking 1t al together the produce business OF
proves that it is healthy, and Gun bo tied to;
also being on tho mend. There really was no
necessity for panic in Chicago, any way. Tho
sudden collapse OF ever so many air-cast1cs, tho
viBed the boiling Of . biz speculative pot. and
oyon tic loss Of all tho CLOVIS to tho secrets
Of tho financial world, has not made
our wheat and corn worth one cont
have lowered. the sollng price by 1eason Of
scarcity OF the circulating medium. But tho
millions OF Europe are ahort Of bread to-day for
tho current harvest year, to much creator ex-
tout than we arc short Of currency. !rhoy must
have something to cat, and eau only obtain
enough by purchasing every bushol that wo
have to spare. There 10, therefore, no reason
fol, alarm: A great deal Of money has alroatly
and great deal more IL on the way. Tho
consequence of this Will be that instead OF boiug
short Of money, Chicago Will have much more
this winter than her general average, though ita
distribution to the lover olaasos may have re-
ceiyed check, tho effects Of which will not dis
appear for somo time. Those who aro ablo to
judge think that our coming packing season will
the present stringenoyi and that tho grain trade
OF the fall aud winter will bo unusually active.
Ono immediate effoot Of the striDgonoy is the
reaove with many Of our business mon to sepa
accompanies tho order. This will necessarily
restrict trado for while, but the interruption
can only DO OF short duration, aftot which busi-
moss will be removed eVon moro actively for the
, temporary check 1t has received.
, Tho most disastrous consequence Of the panic
is, however, tho threatened suspension of work
By BONO Of our manufacturers, and the cutting
} down OF force By sotne traders, for tho reason
} to make prompt payments to their workmen. It
= I Is sincerely to be hoped TINT those rumors
arc large e1aggerations of tho facts. Certainly
tho present situation docs not warrant any wide.
~
| | coming In for produce will mako the local mar:
Aet much easier within q fow days, and, with .
restoration Of confidence, money may be agair
abundant before tue close Of tho coming wool.
There was scarcely any trallng on Change
this morning from to II o'clock, owing to til
suspension Of option deals, and some Of tht
membors amused themselves in various ways
hogah a4 bo1 daeS 70 90 s,ts %uS
] the Secretary, and requested to romember thu
q they wero gentlemo,l. The reminder wa
3 enough; and tho appearance Of cash buyers u
, II O'Clock, found employment for most OF thon
:, either in Watching or trading.
. The dry goods Trade was again reported alacl
n a fair number Of ordorH from interior aud loea
merchants wero placed, but tho amounts calle
for wero gonorally small, and the aggregate dis
+, values there wore no decided changes, the ger
10 eral market maintaining the firm tone that la
+ characterized 1t for number OF Wooks pas
j. There were no new features to note in cor
t. | A4S9stVa HAtA tA9 tltSoA4 A4AAAots AAA 2uAA
"a quarters a!ightly Increased demand was II
, ~ ported. but tho general market was dt
J. Vod Of animation, orders continuing few an
.. small. Prices wera nominally firm, m
wero without change. Tho situation Of tie bu
~ tor market was much tho same as on tho procot
~ Ing days OF tho wook. Aside from good to ohoie
n qualities, which were in fair request to supp
r local cons1mptive wants, thero waH no oonBldo
II ablo movement, shippers being out Of the ma
"a ket. Prices were steady At 22@25o for tlesirab
- table qualities. Chaeso WAS dull and wen
u Country holders seem to bo getting ueryou
mud in their anxiety to unload they arc olfori.
their goods at q reduction OF 1GD111o from Il
k. prlcca demanded ten days ago, But just
In present thcro aro no largo buyers
~ any figure, and at the ulasno
10 values must bo considered nominE
Uagglng was but 1ttlo inquired for, and tho ma
koe IL laoking In strength. Tho decline III |!
"a raw material, and the improved condition of Il
-, supply, taken In connection with tho dimlnla
~ donianl Of tho past few days., induce an ca