New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-19
THE CHICAGO M1RKETS LOwER.
EFFECT OF THE EXPECTED TELEGRAPH sTRIkE>
CLOSING UP ACCOUNTS.
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EFFECT OF THE EXPECTED TELEGRAPH sTRIkE>
CLOSING UP ACCOUNTS.
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CHICAGO. July lS.-The speculative produce
markets we're greaty affected to-day by the Prospecs
of a strike by tho telegraph operators wheat
and corr after opening ut Last ngnis ngrcs aechea
slowly all day. aud a night closed al the lowest point Of
the dav Both grains dropped about the same amount
10 az cents per oushe Commission men very generally
telegrapled their customers Tuesday pisht
that a strike was imminent, and = cutting on OF
communication by wire probable They advised that
In view OF these all trades where 1t was po ssoa
be closed oar This advice given for TWO reasons
A emitting of Of communication even by ordinary or
electrical storms always depresses this MARKET but
the commission especially reluctant In view OF
the possible closing OF with the customers
except by the odfashoned way Of the mails for several
DAYS to take new trades to hoa open old ones fos
ylaent fuctuation during the continuance Of tee'
graphic blockade would pat tbs commission mnn
An a bad plight Instead OF being able 10 com
municate with . Hew.York customer In an
hour ne would be compelled TO wait four days and Tor
reply from NewOrleans or any other soataern point
even longer. Eyon to get q message from Milwaukee
and rcpy 70 1t would take twentyfour noars pernaps
thlry-sx There undoubtedly as much buying 10 OF
".hor az selling out OF "lons wheat because OF thfs
antiepa ced cutsux Of OF bat for sowe
reason or other inevitably when taers h general and
hsxty evening up hy spectators depreciation OF
yalucs resultx This the cese today Wheat ana
corn dad not decline proportionateiy any more than
pork lara and short OaIs did advance little for
July but only the fear OF
soueeze In this month Is reviving. 81 do MOI
helieye said trader that there has ever occurred
anything since Chicago speculative CENTRE tass
has caused 80 general settling up with customers Us
this proposed telegraph strike thrceQuarters OF tho
commission men nad decided by convention to close
no their oiccs FOR o week and take vacsson, there
would not have been general evening up OF ao-
counts About every on the Board 10 prepared
tonight TO be OF from the customers for three or
four Gays" -. ,..oo
cents per barrel as night bat started down ma
once aud never stoppcd anti q decline Of % cents
barrel rad been suffered. Then there was partial
reaction. August stopped af night Ct $i& 80, aoo
september $l4 So about 20425 cents below tuesoAy
nights figures Lard aud short ribs acted precisely as
pork did, except that they made little more compets
rally. August lard closed at ~ 80 and ssptemoI a.
Ia 6zis fais lard decline from last nieh,s
Hgures u only l2a0l3 cents and Tor shert rus eny
So 10 per 100 pounds Al these kinds OF
acted exactly alxe aud were evidently UNDER w.
some iuuencethe prospect Ut telegraph strike. an
thu ordinarily Affecting hog product were
slch Is should teaded 70 agher prccA The csees
anuOunced q very aecnive advanoe s6rQfd Ihe IT,
ceipts Of hogs comparatively light e eees :. ~.
yards ON the S2o cents peg an es ngae.
al 81 o3ss Septenber - q oo.s; July cern 80 pa
eenta Aasust aud September bon coats; july oA0
sorad "a csuts In che Alley later the feeling was
WEAK and the iigures were q cent lever