New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-11
The CHICAGO MARKETS.
RAPID FLUCTUATIONS IN PRICES
CHANGED BUSINESS METHoDs-BIG MARGINS RE-
QUIRED-EPFECT OF RUMoRs.
lBY TELEGRAPH TO THE TRIBUNE


CHICAGO, July 1O.-The highest and lowest
prices wheat over per bushe apart to-day
the highest and lowest prices ofcon nearly much The
prices OF pork lard aud short ribs up ana down
through range wide that the fluctuations at any
other than the present would have great stir
This market has certainly not recovered s equilibrium
1t s still rocking FROM the excitement Of McGeochs col
lapse. The traders here well Of this fact
The people who enter the speculative pits appsr
emily well prepared for rough treatment The list
OF business troubles attests this each night Wheat
up 1 cent and even cents bushel, then dashes
down. but nobody succumbs The margins are all up
nightfsn. Each person finds himself fully protected
30 10 is with daily. There in the price OF this
grain fluctuations that IL they had occurred sixty days
would have thrown the pits into CONSERVATION and
precipitated failures No such disorders follow now
Corn jumps up or cents q bushel. spins round and
round, then drops rapidly 1t has advanced.
When the starting point reached there
is little commoton existed at the beginning OF this
erratic movement
There a variety Of for these alarming and
rapid fluctuations and variety OF reasons for their
want of results The speculative markets are still de-
moralized The old signs which used TO influence buy
ing and selling observed Big shipments do not
any longer make bulls big receipts make bears"
The crowd is still Influenced very largely b. rumors
reported failure is still OF more moment than
q crop failure; and the calling In Of loans by
appearance OF strong buying party. This is still
panicky market Rumors I'LL the air and control the
feeling. The speculative crowds even becoming ac-
customed to this state OF affairs.
Since last Friday pork has declined nearly SO barrel
yetthere has been failure andeven very little comment
Lard within the same time has declined about 81 per
fierce Wheat aud have tossed al OUT In yay
that in ordinary times would have swamped commission
houses and ruined SPECTATORS There has BEEN since
the McGeoch failure, a change here In the method
OF doing the commission business Customers who buy
wheat in these days must put up plenty Of money
'shcesriug" margins accepted. The best firms
wheat, five cents 81 so barrel OF pork and
something like one cent per pound lard This is why
within one datss trading and yet result failures
TINS excited Why ,hsss wide tts sOmmsnt
so ,s man only Loses his when
while his customers money being sunk OF late the
customers money aud not the commission mans is lost
movements Of prices that every day for
q oser DOWN SS w To Vas tune up to 90 cents
moment up to 1904 and at another down to $780, IL
wnen .ne ngres went down thar he drop pork
o. a, failure OF the Dakota spring wheat crop was the
nonsensicai as reasons Tie wheat market odsy IN
fact was panicky the victim OF rusrs Prices went up
Buyers watched each other and bought because ca
other bougHt Sellers acted upon just good reasons
business 10 STOP. For this reason the closing
figures s9ss for July: lo0,s Tor August
highest for The day The report received here from
Ncw-York that trustworthy freight agent there said
that had been completed for eIpcrt-
ton Of over 100000 bushels OF wheat This was a
private report however. and mad no effect
ket Even those who received IL bad not faith enough
in Il TO buy it. Very little wheat was shipped
to-day There still IN store 6,O0O0OO bushels OF
wheat 100000 bushels OF corna $4,000 bushels OF
oats Corn was under the same influence as
wheat, and moved up and down as wheat
did, IL happened 10 close az about the highest figures OF
the dayJuly at 50c and August at Ole. The engage
menus were large for tomorrow. little has been
exported from here direct Of Late.
Tuere time during the day when pork was s09
90 cents barrel lard Is 92o cents snort ribs 80
940 cents per hundred pounds lower than the cosing
figures OF Monday night Tns great drop could not De
accounted much moro definitely than could the de-
cline In :, grain: The news OF yellow
fever is disqueting the crowd. although
II apparently greatly disturb packers VINO
are best informed. The receipts OF hogs heavy,
aggregating 24,0O0 head. TIE shipments OF lard and
meats CONTINUE large Toward the close there was
sharp rally In all kinds OF hog products, pork
seilIg up 30 cents barrel lard 10 cents
Per hundred, and short ribs 1920 cents.
ins wa caused by oyer.coandent selling OF small
vpciAgvrs IN the forenoon Pork closed $13 90 for
July Sl3 20 for August aud Sl3 50 september July
~ stopped at $S 30 and Au. ust at 20 40.
Inc testimony IN the larc investigation closed to-day.