Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-03-18
CHICAGO.
Especial Telegram to the Globe. |

kets being weak and panicky.
The clique that proposed deal in May
corn has apparently abandoned the pro-
iect. A few days ago Handy was talking
75c corn, and all the old crowd was with
him except the New York end. Now all
the signs have changed. The clique &C
knowledge that their plans have miscar-
ried. 1t is explained that the fear that
corn in store would not go through the hot
days of the early spring and that the corn
| left back in the country would be unloaded
on them, has caused the change OF pro-
gramme. There has been a great shifting
of positions about all the pits within the
week. Lester & Co. have been first on one
side and then on the other of the market.
| Kershaw d Co., who have been bulIish
since anybody can remember, were sellers
yesterday. The Honore Bros, who
| have had their customers "lsng" of
short ribs, telegraphed Smith, Mccormick
& Co. to sell, and some millions of pounds
were thrown, most of them into the Office
of Lindblom, who placed them down oppo-
| site the names of another set of New York
ers. Seymour, Hunt & Co., who have been
| loaded up for a month with corn and
| wheat for Hunts New York customers,
sold all day yesterday millions of bushels
of BOTH McGeoeh, who week or more
ago sold all his May lard. says he has
bought 1t all back from the very people he
sold it to, and at profit. But the English
and foreign houses remain short of hog
products of all sorts, and it is figured that
| the half-dozen concerns here which are
known as English houses, have sold be-
tween them not less than 100000 tierces
of lard.
The wheat pit was the scene of a good
deal of excitement to-day. There was
fair degree of activity in this market, with
prices irregular and weak, and at the close
March was about 38c lower than it closed
at O'Clock yesterday, April 1c lower and
| May 1c lower. The break commenced yes
terday afternoon, and this morning the first
trading was at / &c decline from the clos
ing figures of 1 O'Clock yesterday, rallied
some, then become very slumpy, and fell
Ike from the highest point and &c below
the closing yesterday, afterwards reacted
1c, then changed slightly and closed steady
at the decline. The English markets ar
reported steady, but the local feeling was
bearish, influenced good deal by the fine
weather. Besides, the steady shrinkage
for some time past has caused more of the
longs to lose confidence, and when the
break began to-day they commenced to
press sales, whiLo it was nearly impossible
to sell except by shading the market.
Shorts took advantage of the break to buy
in, and on the whole the volume of business
was liberal. The trading, however, was
mostly local, outside orders still being
higher. Spring wheat was quiet and de-
cidedly lower, and winter also quiet and
easier.
Flour shows no improvement, and it was
next to an impossibility to bring about
trading with so wide difference between
, buyers and sellers. 1t did not pay holders
, to show samples, and the feeling was de-
pressed one throughout.
There was an active business transacted
: in the corn market to-day, but at decided
ly lower prices, March closing &c lower
than at 1 o'clock yesterday, April ~
lower, and May &c lower. The break ii
wheat had depressing Influence on corn
and together with the fine weather led tc
general loss of confidence and large
q amount of ''long" corn was thrown on the
market. These excessive offerings caused
q q speedy break in values
5 and May fell of lie, bu
, afterwards rallied nearly 1c, then changed
slightly and closed steady. About the only
demand to-day was from local shorts, who
, bought most of the offerings. New bust
f ness was very light and scarcely any out
side orders were received. Car lots Of
t gilt edge No. 2 closed at about Sc &c. Re
: ceipts dated to-day were nominally *
over gilt edge.
Oats were breaking down heavily il
/ sympathy with other grains, and drop Of
3 115c occurred early in the session. A par.
tial recovery occurred later on. Nothing
was doing in No. 2 cash in store, and 4Ot
: was the nominal price for car lots
!. Samples were in liberal supply, and viii
l the heavy break in the speculative marke
5 a corresponding decline had to be allowed
5 for cash. All grades were lower and were
! going out slow.
Rye was dull, and sustained about Sc
decline in price. The weak market TO
other grain caused larger offerings of May
, rye. There being little demand this futur
broke to the extent. named, and other de
liveres followed. Cash No. sold at 6O15c
Barley was very dull. There were seller
: at former prices. Seller March and selle
April No, 3 sold sparingly at Coo and NOR,
could be bought at that price. Cash Offered
0 at SOC with no demand. No. 2 entirely
nominal. Sample lots dull, and no better
than in store barley in price except whe1
S of extra quality.
The market for hog products was quit
active, but the feeling was somewhat I'M
settled and prices rated with considerable
5 irregularity. Early in the day the feeling
Y was weak and lower. Prices were accepted
5 on all the leading articles, but during The
r latter part of the session on change de
cidedly stronger feeling was developed anC
= higher figures were realized. Foreign al
| vices indicated no particular change, enc
the Eastern markets were comparatiyaIy