Daily globe., 1883-06-28
The Chicago Markets Seem to Have
Gone to Pieces.
WHEAT GOES OFF TWO CENTS MORE
Corn Also Sufferer in Sympathy With
Its Big Brother.
PORK TAKES ANOTHER TUMBLE.
And ArmOUr'S Personal Attention to
the Deal Will be Necessary.
4 VERY DULL DAY ON WALL ST.
Scarcely Anything Doing in Stocks,
and Decline Expected.
PORK TAKES ANOTHER TUMBLE.
VERY DULL DAY ON WALL ST.
CHICAGO.
Especial TELEGRAM to the Globe. I

CHICAGO, June Pit is freely predict
ed here that Phil. Armour's northern fish
ing excursion will come to an abrupt ter
mination, and the genial face of the great
trader IN hog products is daily expected to
again illuminate his busy Office. Matters
on Change are going against Armour's
interests strongly, and his personal atten-
tion is certainly needed. The provision
market is in very bad shape, each day
marking fresh decline. Nobody seems
to waut the stuff at any figure. Packers
themselves continue to sell, and although
a shipping demand is spring1ng up, the
fact has little influence, seemingly. All
markets were weak to-day. Corn closed
about where it did yesterday afternoon,
but wheat and oats lower
The rally in wheat on call yesterday
vas entirely wiped out on the board to-day.
A very fatr business was transacted in a
speculative way. Early in the day the
feeling was stronger, and prices ia &c
higher at the opening, being coptinua-
tion of the frmness developed yesterday
afternoon and Influenced probably by the
wet and rainy weather. Later, however,
the feeling became weaker, and with but
slight fluctuations prices suffered decline
of 2@24c. The weakness was attributed
to larger offerings, caused by some dis
quoting rumors, and also by the reported
weakness and depression in the French
markets, caused by reported large offerings
of wheat from India. At the decline the
market ruled quiet and strong, advancing
about 38@4c, and finally closed about the
same as on change yesterday. On call
values were 15@ &c less, and 100000 bush
els sold at the decline.
July at one time to- day was offered
at 1 118c and June at $1,000. August closed
at $1.04 having touched $1.O315 There
were seventy two cars received and but
I'LL bushels shipped. There would un-
doubtedly have been a still further decline
had not there been good buying from the
shorts. It is conced there must be a con-
| tinuance of the export demand if we are
to have solid basis for prices. There is
no support in the shape of large buying
orders and each little advance brings out
free selling by scalpers, who have trIfing
profit on their holdings. While every de-
cline causes large blocks of long wheat,
which holders have at last to drop at enor
nous losses to be thrown on the market.
In corn business was good on shipping
and speculative account, and no very i'm
portant change occurred. Receipts con
tinue fair and shipments moderate. Early
in the day the market ruled Il 15c high
er, but later, under large offerings, and
Influenced somewhat by the decline in
wheat an easier feeling was developed, and
prices declined 15@2lc below the outside
figures reached, and finally closed about &c
higher than on change yesterday. On call
there was trife more frmness. The
strength is due to crop apprehensions.
Everingham Co.'S weekly report from
their correspondents, covering twelve
states, shows good stand Of corn at 156
points, a fair stand at 3G2, and poor at 80.
At 354 points the ground had been cult
waited once; at 169 twice: and at IL three
times. Corn reported to be cleaner and more
| thoroughly worked at this date than at
the same time in 1882. The receipts here
to day were twenty-four ears; the ship
ments 10000 bushels and the lake en-
gagements 120, 900 bushels.
Cash oats sold spanngly at 3234 a sc.
The demand was light and entirely specu-
lative, and the offerings were all light.
| The speculative market was unsettled.
There were quite free offerings of June
and July, while the demand was light.
There was 15@4c decline in prices. The
deferred futures were somewhat improved
early, but owing to the decline in near
| futures the advance was lost. No. 2 white
| oats in store nominal. Shippers
were not buying. Sample lots easy.
Orders seem to be limited, and buyers
were slow to take hold. Just about fair
volume of business was done. For June
| and July deliveries there was heavy mar
| ket. The market closed at inside prices all
around and weak, but on the call gained
trife better tone, and perhaps 18c better
figures. August and September, some
operators think. are about low enough for
a time until the crop is fully assured.
Rye was quiet and shade easier, but
the offerings were not large enough to cause
any noticeable decline.
Nh unsettled and weak feeling prevailed
in the market for hog products to-day, and
a further material decline in price may be
recorded. The offerings in speculative
account were quite free, and the
demand was not particularly urgent, ex-
cepting from shorts. Outside operators
are not inclined to do much trading, and
local spectators are restricting their busi-
ness considerably. In a general way it
may be said there is an inclination to set
tie business and ascertain just exactly how
merchants are situated preparatory to en-
gaging very extensively in speculations
again. When the deliveries are made on
the opening of the month considerable
capital will be released, and the trade
placed on a more substantial footing. The
shipping demand continues moderate, and
no doubt would be. increased if the market
here was held with more steadiness. Re-
ceipts in hogs were quite large and prices
ruled lower, which assisted
in depressing the market for
1 e