Daily globe., 1883-05-24
ROYISIONS TAKE A DOWN TURN.
ORE ACTIVITY ON WALL STREET.
CHICAGO.
Especial Telegram to the Globe.

heavily. Wheat early was quite firm,
mainly because of the publication of re-
ports of still further injury to the crop of
this state by the recent cold weather, but
there was nothing in the condition OF
Eastern or foreign markets tG warrant the
advance, which checked buying almost
wholly after a few hopeful spectators,
who bought for scalp on an up turn, had
all they wanted. After little values re-
ceded, ending the day about where they did
on the call yesterday. Trading throughout
the day was characterized by a caution
that clearly showed there was an absence
of confidence on the part of large buyers
and an equal carefulness among the bears.
Other markets were weaker than yester-
day and the feeling generally was bearish.
Reports that some Of the recent shipments
of corn from this point were arriving in
the East in bad order contributed to shake
the confidence of dealers in that
cereal. There was also an absence of out
side support in the shape of large specala-
tive orders, although the demand for
cash stuff was good and the charters
amount to $4,000 bushels. August was
the strongest option, cash closing
about $8c under June. Reports of frosts
IN various parts of the country prevented
very serious break in prices. The recent
spell Of bad weather, accompanied by high
winds, falls Of snow in some localities and
severe frosts in others, shows the futil1ty
of making estimates about the crops thus
early in the season. The bright prospects
of two weeks ago have been clouded by the
cold, wet storms of the past few days, and
in some sections Of the northwest the
promise OF a good crop has been partially
blighted. When the ground freezes as
late as Ithe goth of May in this climate
the outlook is not propitious, and it will
require all of natures recuperative en-
ergies to repair the damage to some
cereals.
The movement OF grain out of Chicago
continues free. The stock of corn has been
reduced 1, 100000 bushels since last weekly
report,rye 14,00O bushels,oat III, 900 bush
els and wheat 71,O00 bushels. The large
shipment of corn is expected to continue
for sometime, but there is yet nearly three
times as much in store here than at the
same time last year.
Judge Tuley, of the circuit court, to-day
in the case of the Public Grain g. Stock
exchange vs.. the Western Union Telegraph
company, granted an injunction against
the latter, Withholding telegraphic facili-
ties from the former. This rs at least
temporary victory for the bucket shops,
the injunction holding good until the case
shall be tried on its merits.
Robt. Lindblom, ,lthe well known dealer in
various staple products of the country,
denies in toto TIE story sent from Milwau-
kee that ne had to pay $4O0 for
buying wheat for a customer in that
suburb above the market rate, said wheat
being ordered bought on the strength of
false quotation sent as a decoy by man
named Frank Woods to a firm in Mil
waukee. Mr.. Lindblom said that he sent
a quotation to q customer of his, named
Chas. Cuppell, when wheat was at acertain
figure and received word back to buy So
600 bushels, but during the transit of the
mess age the cereal went up &c, ''took a
natural jump" as Mr.. Lindblom puts it,
and he bought at the advanced price.
That he was stealing private dispatches he
characterizes as bosh, and remarked that
ne was not aware that Mr. Woods had a
corner on the sending of quotations to
Milwaukee, as not only he but some dozen
of other commissioners were in the habit
of doing so every day.
Daring the session Of the board of trade
wheat was fairly active bat IN
settled, opening about sc
below the closing figures at 10 o'clock yes
terday, ruled firm under a fair demand.
prices soon improving 58@4c, but the
advance brought out pretty heavy sellers
and with few buying orders to support
the market and the local crowd becoming
rather bearish, prices took the down grade
and finally fell Mc from the highest point,
changed slightly and at the close July was
10 lower than at 1 o'clock yesterday, Au-
gust 4c lower and September about $50
lower, or about where the after board
trading of yesterday was done. On
the call there was a trifle more frmness
but no particular change in quotations
not over 11Sc. Although there was quite
good demand and liberal offerings, little
difference as to price limited the sales,
which on the call were under 100000 bush
els. There was an active demand for win
ter wheat to-day for shipment, and some
large sales were made; 100000 bushels of
No. 2 red sold and over $4,000
of this grade received yesterday.
Spring wheat showed some weakness;
Flour was neglected and dull. and owing
to the unsettled wheat market buverz were
keeping out of the flour market almost en-
tirely' and were making no bids that
could be called fair by the holders of
stock. The finer family and bakers
brands were held quite firm, but with
shipping grades neglected and dull. and
buyers scarce for anything bat the lower
grades. Bran and all mill stufs were in