New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-10-16
SPECULATION ~ CHIC1GO.
FALSE AND MISLEADING OBSERVATION-DISCLOSURES
CONDITION OF THE PROVISION TRADE.

FALSE AND MISLEADING ISPATCHEs-ANoNIALOU
CONDITION OF THE PROVISION TRADE.
GBY TELEGRAPH To THE TRIBUNE.l
CHICAGO, Oct. 15.-There have been a half
dozen days in the fifteen days OF this month in which
"baar brokers sitting down TO write circulars their
customers have, after the usual rhetorical fourishea.
said And here tonight have the lowe prices ofthe
crop" Doubtless of the Chicago circulars wiz
contain this climax tonight December wheat is going
at 81 cents the curb tonight trades even hav-
ing been made since the call at 1878 cents.
The close the cau was october, 9l4i
November, 922s; December, OlIs. Tuesdays
receipts usually larger than Mondays. The
shipments growing less and lcss until to-day they
were only Ouctcnth much the receipts and there is
every reason to believe that toInorrow's figure, win be
lower than today's. And here tonight have the
lowest prices OF the crops" Will doubtless glitter In fifty
fanboyant letters tomorrow, where It shone in onlya
score to-day.
There was story to-day that 10000 bushels OF
wheat had been taken for export at NcwNork To-
day. II was received with suspicion because
Of the experience on Saturday with messages OF
the same kind from Baltimore Tonight II is said that
the NEWCOMERS who sent the Telegram have lowered
their figures from 100000 10 5000 bushels The de-
cephon reacted just Saturdays did and husencd the
dowuhin movement Of the day There was another
story here it said that wecvi had been found in
Of the wheat in store here. II purposnly in
definite and named no houses There was 30 truth IN
the umOr. The elevator all denied it,
and the inspectors say they know nothing abOut
it. Thv is the season for speculative fables.
There has been change N the attitude Of the houses
here since last week. although the people who took the
bull side are naturally talking eonacryatively,
because the figures going against them. Crosby Il
Co. Is perhaps the leading ball house. They have been
operating very extensively for Toledo c0eric. They
had them right all the way down for 20 cents and turned
them only recently His clients IN this deal given
Ra
lievcd that their winnings have been very large
Hobbs j, also bull and Is buying Tor
hi, Ncw-YOrk Mcthodistrl crowd. Then there arC-oh
well there are few good houses who buying on tho
very common principle that property with intrinsic
value cannot decline forever and that when wheat has
dropped % without rally there Is pretty certain TO
be turn The majority however, OF the local crowd
ia "bcarsh" and this fact i the important mas
much ~ little comparatively Of the trading done here now
IS for the account Of outsider "Roon-tTdcrr," ~
they would be dubbed in Ncw-York. are doing
the business and the majority Of these will continue To
sci, until December wheat touches 90 cents iuu."i tie
majority may sell after passes 80 cents i9r lc 99r
~ Of the local crowd always sells hFn ana bu not Ior
Corn i. dun and weak partly because the outsiders arc
not IN the market and partly because u Il arif ny the
weakness and dulucss IN wheat End provisions October
closed tonight NJ II cents and November al ~ Ihe
womid when the Ncw-York market broke They stl
larger than the receipts Int are hkey to hl,"'ne lrss
The present price OF corn 4 not relatively rs snIe
for buyer tlc present price Of wheat OG ~ 'lASS
COu-dCrpd,thr IRE" movement OF the FORMER VIC mo- he
i'm the latter with the prOniS" ~ short crop In oth the
purchase by the local crowd deemed safer than
me purchase Of wheat. The local crowd however Is
wrong lust ~ often rs right.
Peter NcCcOCh keeps May oats steady AZ every little
decline lc buys and they have been strong that tAe
purchase of a very little stops any decline.
Armour making pork for the hlmherm'n 10 take
into the woods with them To keep until next summer ana
il getting S12 81 per barrel for IT, This Is what u costs
10 make pork now with hogs al their present price Yet
pOrk Is being sold for November at SO 20 ArmouTs
lulrrs are given on authority, and the speculative
price Of pork November, OF course, any hOdy
can find by consulting the ticker. THIS NUS
trates the anomalous condition OF thlngs aDon5
the provision nit Il costs Armour who can make pork
more cheaply than any of his competitors 81 - Ia make
il to-day: vet to-day Singer and Nat" Jones' two leai-
ing bears" said to have BOUGHT 10000 barrels 0i 10
for next month and January at less than 9lo Do iney
were covering their shorts II Is not remarkable perhaps
that January great discount for great ueyune
IN hogs is possible between that time and now, hht y IS
astonishing that manufacturers, who have C's id lrV
days within which 10 kill and cure, are selling al =
price which-unless there is revolution NJ Tue sioux
vards-will entail loss upon them Of - per barrel ne
receipts Of hogs AT the yards to-day were lIooo mir
teen thousand poor hogs left in the pens over rom
last week. -.
Letters received from country packers which claim
that contracts hogs be made up there al GEMS
and in some cases at 30 cents. Thirty thousand hOSs
are prrdcted Pork porkcr so say lhelr
employees all feel sick October pork closed AT 1912
November at 1920 October lard az 733 November az
rs; October Ribs at $50, November 557l2.