The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1879-12-10
CHICAGO SPECULATION,
Wtld Day on 'ChGMQe--RO,u the Market
Fits Up ana Do,cx.
lGhicano Nrih u III a4

Wttd Day on 'ChGn0e-RO,u tho MGrk ct
Fits Up ana Do,cx.
Chicago Tribune of Saturday.
At the opening of the market yesterday
morning there was rush of orders to buy,
as usual, on account of parties outside, and
prices advanced under the competition
between purchasers. Wheat went 10 about
one-fourth cent, and pork about quarter of
a dollar per barrel. But the buying orders
were not so numerous as on previous days,
aud it soon became evident that sellers were
in the majority. The party who bought so
much pork the previous day commenced to
sell. offering it in rather large blocks, and the
idea that he was unloading all that he had
previously purchased struck the provision
crowd with q general panic. Within twenty
five minutes from the first sale pork had de-
clined ninety-ive cents from tho top figure
of the day, amid the widest conceivable
rush on all sides to sell, and the varying will
lingness to buy the property: After the
market had gone down about Is cents, the
number of would-be sellers was increased by
those who were,i in the language of trade being
'souEEzED OUT OF THR DEAL"
that is, the price had declined so low that
they were unable to pay up the margins
which they were momentarily expecting
would be called for. As . consequence, the
transactions were unusually large. It, was
impo sible, amid the wild confusion, to
make note of all the sales that transpired,
but it is probable that tue entire sales of the
day aggregated not far from 1885, 900 barrels
of pork alone, being q quantity but little
short of the usual production of barreled
pork during what is known a. the regular
winter season of four months.
THE LARD MARKET @a
was affected by theidsoline in pork, but not
to an equal extent. 1t dropped, about As
cents per 100 pounds, while pork was de-
olining IS cents on the barrel. Both re-
acted about II O'clock in the day, and by
noon the market was regarded
as comparatively steady. It then
slowly advanced to within small fraction
of the latest prices of Thursday afternoon,
again eased of, and closed OH Change rather
steadily, but weakened in the afternoon,
and pork closed at 20 cents below the latest
prices of Thursday, while lard closed at Is
cents below the closing quotations of that
day. ,4'&& %l'.',f3 4 9,HaS&
Although the grain markets were weaken
ed, they did not decline go much az provis-
ions, the difference between the top and
bottom prices of the day in 74 ~ p
>Ga ~ WHEAT AND CORN >..,,..
being about 3 per cent. Wheat declined PIX
cents during the break in pork, and corn fell
off 178 cents, both reacted when provisions
turned upward, and touched about the latest
prices of Thursday. The feeling in the
afternoon was shade easier, but closed
Il to cent lower, and the latest dis
advantage in corn was only about "a
cent as compared with the previous day.
There was good deal of speculation as to
an independent cause for the decline in
grain. Some people who were Watching the
market asserted stoutly that wheat was
breaking because the party of capitalists
supposed to be led by David bows & Co., Of
New York, had been unloading quietly for
two or three days past upon the brokers of
Jim Keene, achieving substantial revenge
for similar operation performed by Keene
upon them last spring. This, however, was
doubted by many, and the doubt seemed a
reasonable one, seeing that the decline was
relatively small, and that the market reacted
the moment that the pressure in pork was
relieved. The grain markets were really
stronger BY comparison in the after part of
the day, and the confidence Of Western
traders seemed to be completely restored
before the close of the days trading.
af.i IT n NoTxwo2THx, Il s,i4
that the down turn in prices was not war