River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1879-05-01
THE WHEAT DEAL.
Ho,c the Bears are Working the Market IN
Chicago.
tChicago Tribune, 22d.

HOC We Be0rS are UoTRtRy TIE 4HdfRet t,i
Chicago.
Chicago Tribune, 22d.
1t is pretty hard matter to determine
definitely the condition of the Chicago wheat
market. The operators do not like to con-
fess that there is anything like an unpleasant
outlook, especially those who are "lopg'' on
the deal, but a pretty close canvass of the
situation will reveal the fact there is con-
viction that something will have to be done
soon to lift the present depressing condi-
tons; that is, that something must happen,
or else large class are going to be ''left," in
the parlance cf the day. The market is
weak. 1t is uncertain. The operators
scarcely know where they stand. They do
not dare to take many steps lest their foot
ing prove treacherous, and they be precipi
tated with their load into a mire fran which
they may not rise. 1t is as sensitive as a
mercury bulb to the varying degrees of heat.
A rumor will break the ma; ket. Where a
we'll established fact detrimental to the wheat
interests would send it, the Lord only knows.
Those who bought largely upon the belief
that 81 market would be reached are sensi-
BILE that
ONE DOLLAR WAS NEVER so FAR OFF
for q bushel of wheat as at present. The
accumulation in the elevators has had the
effect to startle the speculative dealers, for
they see the lower grades going off as fast as
they can be shipped, and preferred, accord
ing to reports, and at the same time their
own lines being held on a constantly weak.
ening market. To give a stronger feeling,
the accumulated millions of bushels must be
shipped. But those who profess to know
state that the parties holding the greater
portion of the wheat in this market will not
ship bushel until navigation opens. Until
that time, then, there must remain the pres
ent uncertainty and weakness. There is
about six cents difference in price between
No. spring and No. winter, the latter be-
ing the cheaper. The latter is the grade
that is going forward in large quantities, and
is preferred by milIers, as it grinds better
than the stock of No. 9. 1t is reported that
one firm here sold 10000 bushels of No.
spring to Buffalo milling firm. OF this,
10000 bushels were shipped. Word came
back to sell the remaining 10000 bushels
and fill the order with No. winter. The
No. spring sent, they reported, did not
have good smell, and did not grind as well
as the other quality.
THERE WAS SLIGHT BREAK
n the market here yesterday. June wheat
opened at 90l5 cents, sold up to 904 cents,
and closed at s915 cents. May delivery
opened at 8715 cents, sold up 10 80 a cents.
and closed at 8721 cents. During the trad
ing it was reported on the floor that, in
drawing out a quantity or wheat from Ar
mour, Dole & Co.'S 'C'' elevator, it had
been found to be hot. This rumor had its
effect for the while, and wheat dropped for
June from 901& cents to s915 cents, and for
May from $3.50 cents to 81 cents. Where
this rumor originated it was hard to deter
mine, and there were many-even those on
the bear side of the deal-who said there
could be no truth whatever in the report.
Certain it is that Armour, Dole 81 Co. deny
having any knowledge of there being any
hot wheat in their elevators, and other COM
mission men say they do not believe the ru-
NOR. One report was that Mr.. Saunders, a
private inspector, had found the bot grain
while drawing off shipment OF wheat, and
had shut down the bin in consequence. An
other report is that the ''hot' grain was dis
covered last Friday. A cargo was being
drawn from the elevator, when it was found
to have what is known as 1.-THE bin smell;
but Just as soon as it was exposed to the air
this passed off. This had just leaked out
yesterday, and was said to be the cause of
the rumor to the effect that there was hot
wheat.
The officials at the headquarters of the
chief grain inspector had heard the rumor,
but could not give any reason for it. Ger
tainly had there been any hot wheat found
they would know of il officially. No reports
to this effect had come in up TO O'Clock last
evening.
POSSIBILITIES.
While there may not be any hot vi eat IN
store here nov, and the rumor on Change
yesterday pure fabrication for the purpose
of depressing quotations, the fact still re-
mains that many of the old operators shake
their heads and say they do not care to have
the grain on their hands when the weather
becomes warmer. Much of the wheat, they
say, inspected better in cold weather than 1t
would have done in warm weather, and this,
to their mind, argues the presence of nols-
ture that must come out as soon as
the temperature of the air is raised. The
fact is, the elevators are so full OF grain that
the quantity stored therein cannot be turned
and given air for the purpose of driving out
all moisture. In the meantime the owners
of this wheat are holding on for an appre-
citation of values that will be slow IN coming
tor the indications all over the wheat raising
regions point to large crop, and there can
hardly be anything to lift No. spring from
its present depressed condition
The miDstrels have an ancient oialogue