Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-25
CHICAGO.
REVIEW OF THE WEEK..
Especial Telegram to the Globe.


CHICAGO, ILL.,, September 23.-An-
other week of unusual activity has
been witnessed in this branch of trade. AS
on the week preceding, pork and lard again
divided with corn last week the attention
OF traders of all classes, and were, with
corn, the prominent centers of interest
with both the legitimate and speculative
trades. The market for the articles
named was in fact even better attended
than on the week before, though there was
less uneasiness, and for holders a much
more satisfactory movement as to prices.
Indeed, under good consumptive and ex-
port demand for the product, continued
light receipts of hogs, and a sharp
though temporary advance IN corn,
the late bearish tendency was
supplanted by strong bull feeling, which
made its appearance on last Saturday, and
was well supported up to the close of yes
terday. Higher prices were the rule, and
although the daily fluctuations almost in
variably covered wide range. substan-
tial appreciation in values was established
all around. On mess pork the weeks ad-
vance amounted to $l12% per barrel On
cash and the futures known as seller Sep
tember and seller October, $1.40 per barrel
on sellerNovember and about SOC per barrel
on seller the year and late winter futures.
The late futures for pork fell off some
what in interest during the week, and
failed to sympatize fully with the upward
t11r ,yx-.fT ocb
cries, which were affected by the light
character of the present stock of pork. and
the fear of a manipulated market before
the winter packing is able to furnish a
! surplus supply for speculative purposes.
Lard during the week advanced 7O@ 75c
per 100 pounds on October, 62115 on Nov
ember, 15@171sc on the year, zoe on
January, 15c on February and
10c on March. Short ribs advanced
5O@6215c per 100 pounds for spot, 6Oc on
September, 25@30c on October, and SOC
on November, while the January and
February options are but little better than
week ago. The impression seems to be
that for near delivery-that is for October
and November market is largely over
sold of the three articles in which specula-
ton centers. 1t is conceded that one firm
owns all the spot short rib; it is surmised
that two or three parties own the lard,
while the pork is scattered in ownership.
large amount of the latter has been
purchased within the last few days on ac-
count of st. Louis, Cincinnati and other
points, where it is being converted into
strips, and sold from one to one and one
half cent per pound to consumers under
the name of short ribs. Nature does not
seem to have endowed man with the quail
/ ty of forecasting futurity, but she has en-
dowed him with reasoning power. In a
market where there is so much speculation
as there is at Chicago, values are
not infrequently forced either up
or down by unlooked-for
events. such as concerted effort upon the
part of capital, the occurrence of some
thing wholly unanticipated in the com
mercial world, etc., but at the same time it
is generally found that legitimate facts
have much to do in the grand aggregate
with shipping values. AS indicating the
truth of this it may be stated that the
break in the prices of hog prducts in this
market recently was caused by combi-
nation of events wholly unanticipated, and
many think without reason, and
while the break was severe one,
the fact of light stocks and
good demand has acted as a lever, and
values have come back to nearly where
they were before the recent rapid drop.
Besides this, it is fact that the actual
property did not change ownership to any
great extent during the excitement, holders
knowing that the supply was small, but
the option dealing airy nothing
ness'-was sufficient to sway values badly
We find, on looking back, considerable in
teresting figures, and while we do not
claim that history always repeats itself, it
may be that some of our facts may be
nodded into food for reflection and prove
valuable.
CURB TRADING,