New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-05-27
a GREAT DEAL IN WHEAT.
lBY TELEGRAPH TO the raIBUxE.I


CHICAGO, May 26.-There is deal in
wheat Not Armour Kent conspiracy such half
world has believed in for sixty days but IDEAL" with
New Yorker yclept Miller arch cOnsprator and with
Bob" Llndblom confederate. Nathan G. Miller has
dipped into this market before when he was allied
with Jim" Keene In huge lard corner" He lost a
lot OF money aud charged his brokers' Poole Kent Co.,
with IoDbing suits TO recover $50, 900 are
now on the dockets. when, last January he
was partner OF poor Handy. he
divided with his partners between 100000
and 100000, the profits OF a corn corner" This
market will be surprised TO learn that Miller is tho
principal for whom Liudblom has been buying wheat
during sixty DAYS and that the purchases aggre-
CUTE less than dozen million bushels, principally
for August and September delivery.
Mr. Mer's home is at Bridgeport, Conn., but he is q
millionaire professional speculator. and is closely
identified In Wast with W. 5. Williams and others who
make up What is known in Gotham the Western
Union crowd" Williams partner OF Miller in the
January corn manipulation. and likely enough. is in
this Five million dollars the little purse raised by
NEWCOMERS to carry through their little speculation at
the beginning OF the year; and as the contemplated
wheat IDEAL is an operation of greater magnitude
than the corn, probably even larger sum has been
raised. Tho Miller crowd Ia the strongest New-York
clique that operates in this market and consequently
its appearance here to CORNER" wheat is matter OF
some local interest.
have d good deal OF 1t bought invest
ment; but no money would tempt me to put my self
In the position in last year, when compelled
10 examine tho map OF Europe with spy glass 10
Sid Kent owners OF wheat together They jointly
pay the expenses OF werst and his half dozen travelling
men, and each receives each day cipher dispatch from
one part or another OF the wheat country.
Wheat TO-DAY reacted from the points touched during
the vigorous boom OF Friday afternoon. 1t opened
W the very highest figure Of yesterday but soon yielded
before very heavy avs selling III all2c oashel
III 1854 1t closed tonight at 81 1919 Spruanee Co.
the heaviest sellers and Lmdolom tie biggest
buyer There no such struggling for wheat there
was yesterday and the day before. reaction was ex
pected and even blls sold for little scalp" The
market under all the circumstances, stronger than
even most of the believers In high prices anticipated
The advance, which has been exceedingly rapid during
the nast three days will ii is expected soon be- yerv
much checked. These advances have, however, con.
yerled a great many bears" and 1t is getting to be
more and generally believed that the great bulls
ike Armour Kent, have been pretty nearly correct
in s en- @ Hs aam'sf 10 the aaS
ing of from least years crop OF 100000 bushels had
great here this association known nat
raily bearis in wheat and disposed to admit nothing
that would advance the cost price OF wheat
the demand for cash wheat has somewhat increased
One hundred and eighty thousand bushels were
shipped out to-day and during the week the stock here
The May option closed to-day at 81 1914 June at 81 1874
Although the stock of corn has decreased 100000
bushels TINS week. and although the shipments to-day
900 bushels larger than the receipts this grain
dull. 1t advanced yesterday little during great
excitement in wheat and II was not unnatural that
should react trIe to-day. July closed at o7ssc-ssc
lower last night The condition OF the not
known. There surmises, but Ia generally agreed
that this Is too early TO pretend to
speak Those who buying corn at
present prices are buying upon their belief in fair
crop and of they are not buying with very great
courage.
Pork was weak again, and was lard. The hogs ar
rived pretty freely after ALL during the week. notwith
standing they came In at the opening In small mum
beers. II anticipated Monday that the receipts
for week would be- 10000 head less last week
Now the figures show that they have been only 5000
head Next week is prophesed that the receipts
will be LIBERAL July pork stopped at Sl9 207iac under
last night and July lard at 1170o.-5c under yester
days close.