The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1881-11-07
BULLS, BEARS, LAMBS.
FREAks IN srooKs ANp GRAIN,
A COallnusd Heavy Decline In GraIu-AAla Feat.
ares Ofths Chicago MArksta-FlSSsSd Lambs
ASIsnsnI In Wall StFSst-UphSaIl
In Erie Anticipated SOOa.

CHICAGO November 5.-the markets OF
Change fell to-day again, and were veal
to the very last, The longs seemed to b.
selling something they possessed, and th'
shorts were happy and confident. Every
break made money for them, and appear
ances indicated that they were for tht
most part local parties, while the long
who lost so rapidly were outside lambs
Old operators speak Of the speculative
craze OF the past three months as tht
greatest ever known, and say it is only
natural and reasonable for prices to de
cline. The initiation era is over with, anC
it must be expected that everything woulC
settle down to healthier basis, Whea
has fallen about Olc. bushel in the last
eight days, corn &C.,, oats about &c., pork
over 81 per barrel, and lard Soc. per ice
lbs-bOth seller January.
The Wall street clique joined the sellers
to-day, and ST Louis was also thought to
be figuring on that side, having arrived al
the conclusion that it was not best to mort
gage everything they had for the mere
glory Of going down with the ship. The
packers here are said to have added u good
many thousand dollars to what was before
q very respectable bank account and the
local short operators in corn begin to think
they are going to get back the money they
dealt out not long ago to Cincinnati and
New York.
To-day corn was the weakest article, fall
ing off llallc per bushe, while wheat fol-
lowed with drop Of lc; oats !c; pork 2Oa
22lc, and lard l2c, There was some reac-
ton later, but most OF the markets again
turned down, and the closing feeling was
tame, A good many longs were closed out
on exhausted margins. Large selling orders
from outside, mostly from the East, caused
the early break, and the local crowd took
up the refrain wnere these left of, the trad
ing being mostly local after eleven. o'clock.
There Is no reason to believe that capital
took hold extensively on the break, and
some parties may have sold short during
the excitement more than was good for
them,
There was moro disposition to take hold
OF grain for shipment, but rail room was
scarce. The markets got down to some
thing like shipping basis, but foreign quota
tions may be expected to follow ours down.
Milwaukee was reported to be shipping out
rather large line Of No. 9 wheat, and that
market was relatively firm. Our receipts
OF grain are small, and exceeded by the
shipments.
Spring wheat wns very active and quite
weak, though 1t did not break so badly as
on the previous day. The market declined
lc, then advanced lic, and closed laIc be-
low the latest prices Of Friday. Liverpool
was reported steady and little firmer on
winter wheat but private advices noted a
weak feeling, rs was natural on receipt OF
the news from this city. Ourreceipts were
again small, and those OF the week but
slightly exceeded the reported shipments.
The market opened considerably higher,
in sympathy with the early news from New
York and a drizzling sky here, but selling
orders came in thiCkly, chiefly from the sea.
board, and the market went down rapidly
while these were being filled, though Il
was not nearly so weak as corn.
Corn was active and very weak, The
market declined !al &c, and reached lallc,
closing !alC below the latest prices OF Fri
day. The British markets were called
quiet and steady, and prices here were
higher at the outset, in sympathy with
wheat and the fact Of small receipts, while
our stocks appeared to have declined about
225,0 600 bushels during the week. But the
day soon proved to be one on which sell.
ers are in the majority. The offerings were
large, and more decidedly for the long
futures than heretofore, the heavy selling
OF the nearer ones on Friday having scared
many holders Of May corn into selling,
and the bears helped the downward move.
lnent. The buying seemed to be chiefly
done to fill shorts.
"lf we are really short $4,000, 900 bushels
Of wheat, 50O,00O,0OO bushels OF corn, and
30 per cent in hogs, we ought not TO go
much lower. The property Is surely worth
good deal more money than in average
years" This was the remark to-day BY a
prominent dealer. Per contra, another
King Bee remarked. ~ will tell you, we
have not begun to go down yet. Prices are
entirely too high for this time OF the year,
and further break is sure to occur before
the holidays Present prices may not, how.
ever, be far from the right thing on the tail
end Of the crop, but carrying charges ought
to come out OF II now"
The decline in lard seems to have started
the bogus butter factories into new life.
People who are willing to eat lard that is
made to look like butter could do 1t more
cheaply by purchasing the regular article
and wearing yellow spectacles while eating
II.
Mr.. omer Grandjeau, OF Paris, writes rs
follows, under date OF October %:
"lEaving had crop fair in quantity and
good in quality, our farmers are able to
supply us with enough wheat at prices
highly remunerAtive to them. This will
carry us along comfortably until February
or MarCh-thG more SO as the supplies
from the Black Sea, the Sea Of Azow and
India are abundant. India Is shipping
several millions Of quarters, and OF fine
quality. BY March or April, II American
wheat should have dropped to an export
basis, we shall be ready to take pretty fair
supplies from yotirs, rs our total needs will
probably aggregate twenty million heCtoli.
ters for the twelve months. There Is
enough wheat in Russia, India and Australia
to enable England to snap her fingers at
America this year"
The sale Of q Board Of Trade membership
for 81, 600 was reported to-day, newspaper
being the purchaser. Sellers are asking as
high as 1900.
THE SEw YORK MARKETS.
NEW YoRK, November 5.-The stock
market has been strong and with decided
upward tendency The bulls have been
in good spirits to-day, as they sent prices
up, and, Of course, there was q consequent
bear depression. The foreign buying has
been source Of strength in the market for
several days and has been especially potent
to-day. European investors realize that
prices here for hrst.class securities are low,
and they are availing themselves Of the op.
portunity to buy for investment and specu.
Iation.