New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-06-30
THE CHICAGO MARKETS.
BASELEsS RUMOR ABOUT ARMOUR q co.
WHEAT LOWER THAN FOR MONTHS
lBY TELEGRAPH TO THE TRIDUSs.I

lBY TELEGRAPH TO THE TRIDUss.l
Chicago, June 29.-Wheat was lower
to-day than yesterday, lower than at any
time for months The June option touched 9Sh. the
July 0sa ana the August 1o1. There was rally ai'er
these lowest figures OF day touched, but 1t wa
not snstained At night en- the curb all the options
were selling at the lowest points Of tho day,
and the feeling was weak early In the morning. There
was something OF boom In this grain because IL was
reported that the suez Canal had been closed lot
fear of the cholera raging at Damletta, Egypt
Everybody seemed to feel that II the road for lndis
wheat mad been closed American wheat was worth more
money There was consequently great deal oil
teegraphng done 10 ascertain the truth OF the matter
The local Gro finally settled down to the conclusion
that the canal likely after all to remain open ana
then away went prices. Wheat declined LAO =
bushe aud at night had not recovered and showed no
ability TO recover St Louis which very publish
awhile ago when wheat fetching l0Gl5c. more
bushel than now. has turned very " bearish.'
There were scores OF dispatches to-day telling OF the
arrival OF new lag OF wheat OF the sale OF Kansas
wheat at remak aby cheap figures On the other hand
q firm which still insists that good wheat
is not wholly without some intrinsic value
exhibited bag OF wheat which has been sent them
from Tennessee which much resembled chah as 1t ala
No wheat Tho sender. Of course said that oil the
wheat in his state was just like II. This
is the guarantee which always accompanies
specimens at this time OF the year The firms WheG have
made the money the recent tremendous breaks nave
covered Lester & Co.. whom tho gossips gay
have made hundreds Of thousands Of dol.
lara for their customers and themselves
bv selling With all their might during the last three or
fonr weeks, have covered" so have sNartz
and Dupee. Tie Kershaws were the
biggest sellers to-day. throwing out wheat
and corn David Bows Co. we're sellers OF the latter
also ON a considerable sca!e. Corn indeed deprecated
rnore to-day than wheat dropping 29 and cents a
bushel. It was affected by the hot hpe weather
than by anything else, although the shipments were
not a, large. neither tae engagements, as they
have been recently. June AMI July closed
both at 5OIc decline from last night OF 2i2c for June
md 234c for July. Provisions during the day we're
steady lard especially recovering very promptly from
any decline.
Nota syable was started by anybody against Armour
Co Their credit 10 extraordinarily thin, but Of late
even Armour 60. have been talked
about Just Ike their ordinary neigh
bors II was rumored, for instance, that
the associated banks hal asked Anours partners for
| ment was not Given, that the advances made
up,n provisions would be lowered not 10 him especially
but all. THIS same rumor vent Oh 70 10y ,naI
| statement was mace 10 tue effect that he hrn
| assets were Si5,OO0,OOO In excess OF us
liabilities The story made odt Of the waole clo.n.
as we're all the other stories OF the klnd Guoat Inc
hanks here are advancing 80 cents wheat 40 cent?
| on corn, SIi 80 on por1 and s. 80 on ard
Al tile lard investigation today Inspector layOr'
| Professor Haiues aud SIR Neal and emplore OF tee
| FnSirrs were nut on The stand > Identify
samples Of tao $50 neress tho LARD
Ina gueston DE Lilcy, the expert, testL 10 AhAlyZhg
nine samples Of lard, I'VE OF which were adurrtrd win
taow one with cottonseed OIL aud three were samples
OF the Fowiers lard ~ dispute PROFESSOR enc ~
samples ana TO finding nNe OF th'm AluIerNtcd WIZ
lahow. one with coItonseed oil ana thfee pure .@rd
Professor Hayes, Dr. DantOrth ana Professor hose All
| eject