Daily globe., 1882-09-28
A Man Who Believes Chicago is Not
Losing Her Trade.
LESS SPECULATION THAN USUAL.
Condition of the New York Stock and
Money Markets.
CHICAGO.
Especial Telegram to the Globe. ]

!
although it rallied somewhat on call.
September sold down as low as 9915 and
October to 80 cents, figures that have not
oeen reached for some time. The market
was again quite active and the feeling con-
unsettled. The receipts were
smaller to-day but nevertheless quite
large and the tenor of market advices
from other points were of an unfavorable
tenor. There was less demand from
shorts, but whether they were holding off
in view of declining prices, or whether
the September shorts were pret-
ty well filed in, it is impossible
to state. At any rate, there |
was less demand for cash wheat and prices
for September declined about 3 &c. Other
futures also ruled weaker and declined d |
ole, finally closing about 15@4c lower
than the closing figures on change yes
terday. The deliveries were fair. Spring
was fairly active, but weak and decidedly
lower. !
An unsettled and weak feeling was de-
veloped in this market to-day. Early in
the day the market ruled tolerably steady
at decline of 15@Mc, but later under
heavy pressure to realize the market weak
ened and declined to point 1 778 lower on
October, 175c lower for November and 55c
lower for the year below
the closing figures on change
yesterday, which decline was followed by
slight reaction later.
Continued good weather, a limited de-
mand for cash corn and continued arrivals
wtre The reasons assigned for the increased
desire to sell. The market finally closed
about 2@2lfc lower for cash and Septem-
Der, 78c for October, 115c lower for No
vember and 15c lower for the year than the
closing figures on change yesterday. No.
2 sold at 5914@6O1 lc and closed at $50
594c.
The sales on call were million and a half
of bushels. 1t may be that the decline is
too rapid and will react somewhat, but corn
is dropping from its own weight and the
tendency must continue downward.
The bears, some of them, now confident
ly predict SOC corn, but too great a decline
will curtail or stop the arrival Of the crop
changed, with moderate demand and light
offerings.
Pork was a trife lower but in good spec
ulative demand, closing on call firm, with
the exception of October futures, which is
held firm by Fowler Bros. and the few 9TH
ers who hold it all.
The lard market sympathizes to the
extent of 5@15c, with the tendency in
grain. October even sold a shade higher,
being with cash strong. The fact that lard
and pork hold up as they do, combined
with the very heavy shipments, exceeding
so largely the receipts, is creating good
deal Of
UNEAsINEss AMONG THE SHORTS
in these markets. There is a general in
quiry among them as to the amount o.
these products in the city and who has
them. Of course this condition of affair;
cut lard and pork entirely loose from
corn. Nobody knows bzt the longs ma!
force prices up any day, an(
the bears are afraid OF thi
J occurring. These small stock
account for the high prices of all sorts 0
hog product.
Notwithstanding so much beef is comm!
in, and Notwithstanding the prospect of
1 full crop, corn is now good. The marke
: is in just such shape as manipulate
would desire. Traders believe in lowe
q prices.
THE SUPPLY Is LIMITED,
. and the prospect of quick replenishinJ
: of the warehouses is not good. Mr. IA1
: mour says his concern owns all the meat
there are in town, but that it is free seller
= believing the market pretty high. The pee
: pie who trade along side of Mr.. Armour
! brokers say, however, that the homes
= butcher could sell a good deal free
if he tried. The packers las
, week sent from Office to Office to inquir
y how much each house had in store. Wha
the figures were cannot be learned. Tn
. Chicago packers are an esoteric clas:
They are Of the opinion that by keepin
l. such figures as these in their own little Gil
> Gle they have an advantage over the out
siders. There is no reason to doubt th
soundness of the reasoning, for strange
seldom ventures into the provision pit tha
he is not a poorer man when he makes hi
[. escape. The inquiry, however, seems
i have made buyers of some Of the packer
who heretofore were sellers. For wee
the owners Of the product have certainl
/ been very stiff, and the shorts quite hun
bic and anxious.
e The stock of lard in town has been IT
duced this month, according to the figure
$ furnished by a gentleman whose busines
7, il is to keep trace of it. but 10000 tierce
y There are consequently less than 1900
i tierces against 1892 tierces q year ag'
4 If these estimates of the stock of pork an
y lard here are approximately correct, it
Il pretty safe to look for stampede {
s, shorts on the first of the month when th
r authoritative statement of the stocks
as store is made public. The amount in th
1T warehouses will be much reduced this wee
especially the stock of lard, for tt
domestic demand for this article
very brisk. 1t Is n'
unlikely that the lard here may, on Octt
e Der 1. be not much above 10000 tierces. O
| G. L = O =.