New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-10-20
THE CHICIGO MIREETy LOWER.
A DECLINE IN THE PRICE OF WHEAT AND CORN
LARGE DEALING IN WHEAT.
[BY TELEGRAPH TO TIE TRBUNEl


CHICAGO, Oct. 19.-Grain of all kinds de-
clined to-day. The market excited Shorts"
covered longs pockcted their losses, and amid all the
excitement there considerable shifting Of position
Rcam, who has been great bear a buyer on an
scale Lester Is believed to have bought heay-
fly. LlndblOm Is said to have purchased over million
bushels
While the wheat crowd was IN a feTmcnt and the
figures declining there, the oat crowd was the
centre Of a little excitement OF IT, own. McGcoch,
It IL said tonight, has within the past
two days sold million bushels Of oats for May. I'm
der the effect OF his sales the price declined from 80 TO
3Ili The ScOchman has been buying oats for May for
months himself stuck the crowd and quietly each
day bought days very little times Just enough
to steady the market This grain has been active or
late For long time II as been easy matter TO
even trade lots larger than 10000 OF l5OOO
bushels without affecting the quotations. 1t
was thought that McGcOch was going TO
Ia the May options 1t thought too, that
likely as he not no would succeed The fluctuations in
them were 80 that It took very little money TO
buy them on a margin Besides, the price low
level He began TO buy oats when they were cheaper
than they are now Is question tonight whether he
has sold loss at profit The majority of his hold
iugs however were taken, It IS estimated 81 about 30
cents. This has been tho price with scarcely
any iuctuatIon for thirty days If he has
thrown all he had, his loss Is at any small The
death OF McGcoch's aged mother I'm Wisconsin may have
had something do with him closing out whatever
deals hc had IN ths market his account to-day
Todays dump by the Scotchau euycnod the Odt pit as
# has year ago. on the call IN the
afternoon the sales OF this grain reached million bushels
and Ola Hutch" took lot OF 100000 bushels IRON
LludbIOm. Perhaps Old Hutch Will take up the oat
&" deal where the scotchman Laid It down.
wheat dropped lal3 cents to-day. Again # IS In al
the cculars, the lowest price Of the crop" Ton'ht
sga cents is asked for October 9O's for November 92
for December and ~ OO for May. twas day OF cuor-
nous trading by the big spectators. The hlg shorts
covered great blocks Some few determined bulls look
I'm big lines There T. pretty good reason for believing
been selling Tor some time Alchemy. MS niue
/ broker. singing Do 10 i.s night uud
/ the LETT today The theory f. that the
honest butcher" proposes To get long" Of wheat
rr--IOu- to the buying party al o1Cu decline Ninety
cent. for December las been thc popular low WaicrWIrN
months. That point IS nearly touched now. IhnIe
are any number who viii not wait until every body else
are ul brrUm.u- more conservative. FEWER and fewer
houses advising sales more ana more ulN7lug Iui
tIa.r The feeling the "CuTb b. umi tomorrow, INC
sfe- Indicate uIst, the figures viii hr better Com
| t. however, MOI a. laIE" or aS excited " uill
gUrU 600 h shell, ~ wheat changed hands ON the call,
ONLY 100000 bushels OF corn were cold. Pool, krui
Co.. David Bows a Co.,, and Hutchinson were the large
10 wa, boz wheat october closed at 50 cents; November
t Git Their, were 1000 hogs 40 tho ytIl, 10 day, bat
ur quality We, poor and the price higher Iue product
| was couptrtilF ely firm, although dul on Change
The trade was without incident. october pork closed at
$40 40: November ut $40 32lg; Jdmary ut SO to
D.iuN. Lord ut - G2l2; November al - 222; October
rps ut 81 3d. and November at - %.