The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-08-25
Chicago Grain Trade.

To give our readers an insight into the fer
grain trade, we reprint the following letter
from Chicago to the Cincinnati Commercial,
dated Chicago, Aug. 10th. An understanding
may be had Of the excited feeling that pre-
walls throughout the country, from the state
ment given, and some idea of the very unset
tied condition of the market. The cores
pendent says:
Speculation never was so rampant in the
Chicago markets as it is now. II one takes
walk around the Board of Trade, the grain
commission offices. bucket shop alley or by
the hotel tickers, he will be astonished at the
number and character of people who are
changing their money on the rise or fall of the
grain markets. 1t hardly seems an exaggera-
ton to say that every one is in lt-men wo-
men and boys; the professional and business
men and those out OF employment are anx.
iously watching the ups and downs of the
market, and the slang of the Board of Trade
curb-stone is common all over town, and sur
prise is not uncommon at the familiarity with
which some persons, who would never be
suspected of taking a deal, can talk of ''puts
and calls" ''straddles" and seller Doubtless
Shorts" "longs, ""bulls," "bears," squeeze"
and the condition of the crops
The commission men on the Regular Board
are overrun with orders, and those who stick
to legitimate business are reaping rich harry
est. Orders come to them from the CITY and
all parts of the country as well as from regu-
lar Change operators.
These orders and counter orders. with all
the attendant anxiety they entail, of watching
markets, making the deals, keeping margins
good and customers informed of the markets.
make the commission man s life hard worked
one.
The increase of orders makes the business
on Change very lively, and the scenes when
wheat or corn is jumping quarter and half
cent at time, extremely lively and UNIQUE
but if the Board scenes are lively. the bucket
shops are not much inferior There is the
open Board, which is now crowded with small
fry who deal in 500 bushels of grain at time.
All around this are margin shops where for S.
chance may be taken. The recent excite
ment has filled all these places, and MANY
make and many lose in them. To-day was
another of wild trading on Board. 1t is esti-
mated that the trading would add up over So
600, 900 bushels of grain.
Everything was higher and during the
greater part of the morning session was very
firm at an advance. The foreign markets
were reported excited and higher, while the
Presidentwas said he much BETTER Every !
thing favored the bulls, and they were not |
slow to improve the opportunity thus offered. |
Iiverpoolwas reported excited for wheat, and |
all foreign markets were dearer. Here, the |
market for No. 2 Spring Wheat was excited |
and very active. The shorts were busy pre-
pairing for their outstanding contracts. Prices |
40, but closed with saaac of the adj
vance lost Toward the close of the session
the excitement WAS abating. Other grades of
Spring were quiet. No 2 Spring sold at $la4
cash, do. to arrive $1.32 seller August, 81 "a
seller September; opened at $1.23s, advanced
with some fluctuations to $1.26a, declined to
) MP to $780, declined and closed at
81 ~; ocsobaF 9pe ah at q q sold up with
ew reactions TO 81 doHa TO SAe6y, up 70
S1.27, declined to $1aha. and closed az $l.sba
u &c; seller November $1.25a1 90; sellef.the
Year ranged at $1.2244a1 ,255. The CABLE OH
Jorn also read bullish, which made the bulls
'old and the shorts scared Prices jumped
&c, bit before the close &c of the advance was
ost.' No. sand high mixed sold at 634a64sc !