New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-26
LIVELIER SPECULATION IN CHICAGO.
TELEGRAPH FACILITIES MISUNDERSTANDING IN
CORN-ADvANCE IN PRICES.
lBY TELEGRAPH TO THE TRIBUNE,

CORN-ADvANCE IN PRICES.
lBY TELEGRAPH TO THE rRBUSE.I
CHICAGO, July 25.-The Geographic situa-
ton was little improved Change to-day, but not
greatly al thought" said A. NJ. Wright "that the
situation had vastly improved to-day until looked at
the date of my messages" There were however, few
more operators on Change. and more delivery boys
running around The day, so far as speculation
was concerned livelier one than any since July
10. Communication between here and New-York which
was difficult yesterday, presumably because Of the
strike, was easy to-day All the private wires were
at work. 1t was "bu day about all the pits Some
body bought cargo OF wheat for shipment, and, the
getting noised about apparently everybody turned
publish" Then few dispatches were received order
ing purchases and shipments OF corn and this turned
the heads OF the traders ABOUT the pit The fact is
that there have been few inquiries for Of late and
the feeling becoming weak Now 1t s assumed that
the lack of shipments due amoss entirely 10 the
telegraph blockade and the orders to-day have produced
extravagant reaction.
The advance of to-day, especially In wheat Is regarded
by many operators likely to prove ephemeral This
is the position apparently taken by Lindbom who,
although pronounced bull" seemed TO be o seller
when the figures were at the top The advance at any
rate, caused by purely local influences such too as
are not likely to support the market long. There
little ridiculous alarm among the local traders. who, in
the absence OF anything better to do have been selling
"short" on small scale for their own account The
purchase OF a single OF wheat set them all
quaking. They turned to buying back with so much
vehemence that the August option advanced from III OF
to 81 03s and the September from 81 O4h TO 81 O5ss
The closing prices the top figures OF the day and
In he afternoon "cals " were In more demand than
puts"
There was little inquiry for wheat here to-day"
said prominent trader aud also quite brisk pur-
OF whereupon the owners or property made
the that they have made for twelve
months every time that there was chance
OF moving out our stock OF wheat. single cargo was
purchased, and Immediately wheat goes over cent
bushel There little inquiry for corn instantly
1t is advanced nearly cent per bushe believe that
wheat In sixty days will be good Ceal
higher than 1t is now II mshaps befall but believe
tnat II IA early for the advance and furthermore
am convinced that a premature 'bull' movement now
will greatly retard the natural one which anticipate
because OF short crops"
The {" buishness" about the wheat and corn pits
made pork, lard and short ribs buoyant,
but the receipts Of hogs were fair,
Is OOo and tine quality of the animals
reported good The shipments OF lard and meats
ample today but have not been large for the past
three or four days. n X Fairbauk is giving the pro-
vision market It's main support and is pronounced
"bul," but the largest manufacturers too much IN
dread OF yellow fever To keep their produce here.
Wheat for August closed at 81 03e and for 5eptem-
Der at 81 05as July corn stopped at 52i2 cents
and August at 517s cents. Provisions closed
follows: August pork, ga 10; seotember $l4 30
August lard IS 10; september, 80 l7l2. August ribs
n