Daily globe., 1883-08-06
STOCKS EXTREMELY DEPRESSED.
CHICAGO.
Especial Telegram to the Globe.

Saturday local traders have been averse TO
putting out new lines, though generally
acting bearish. Wheat has shown steady
undercurrent, with demand for seller the
month or cash the strongest feature. To-
wards the close there was moro pressure to
sell, and values close fully half cent be-
low yesterday, and easy. Corn has been
held firm by the rnseasonable weather and
demand for cash, a prominent firm being
good buyers of seller the month and cash,
but later lager offerings depressed prices,
and the close was easy at about opening
figures. Oats stagnant and steady. Pro-
request and lower.
Wheat was quoted dull and heavy il
Liverpool and London, the weather splen-
did for maturing the spring wheat
in the northwest, the Car lots
were about the same as yesterday,
the week receipts exceeded the shipments
1900 bushels, but New York opened
stronger. There was a rumor that over
100000 bushels August contracts were
still unsettled, and the old story of con-
templated squeeze or corner by certain
strong bull manipulators, and although the
latter report is very unlikely, it caused an
uneasy feeling among the timid operators
on the short side, and the demand to cover
caused strong feeling during the fore
noon and prices advanced 10 to 36c, but
there was 10 shipping demand of con-
sequence for No. 2 spring, which consti-
tuted fve-sixths of the stock. Outside
speculative orders were small, scalpers
were doing less than usual, and trade
during the last hour of the session was
light and the fluctuations unusually
narrow.
The corn market was again stronger and
higher. The extreme outside prices
touched were not sustained, yet the range
on the futures traded in was go &c better
than that of yesterday, while the closing
were A@38c higher for August and "a
70 for the later months. In the trading
witnessed September was the favorite
future. The days business transacted was
quite fair, with the shorts freer buyers
than usual. Cash corn was in good de-
mand for No. :, prices were advanced sc,
for high mixed 15c and for rejected 115c.
No sales OF new high mixed were re
ported.
Oats were quiet, opening easier and
rallying slightly, but the fluctuations e!l
day were within E narrow range, the
market closing easy. NJ. > cash was sal
able.
Rye was higher under good demand
from shippers and shorts, 10. . cash clos
ing at about 58Hc.
Barley was very quiet. The offerings
were light and there was no demand. No.
2September was offered at 74@ 76c. It
was understood late that the railroad and
warehouse commissioners lad decided not
to mako any change in the grading of bar
ley this year.
Flour opened very quiet and lifeless.
There did not appear to be any orders.
No change in prices was reported, nearly
all grades being held at the old figures,
though concessions would probably be
made on bakers low grades.
In provisions there was not very much
done, and the market must be quoted as
ruling quiet. At the opening the feeling
was strong and prices advanced some, but
at the enhanced range offerings were nu-
merous and the market weakened, the
early advance was lost, and the closing
prices show liberal shrinkage on yester-
days closing figures. Shipping demand
not urgent. Receipts OF hogs moderate
and prices higher.
In pork there was jast a moderate trad
ing, and during the earlier part of the ses-
sion the market was frmer. but weakened
later and closed at decline OF
1715@ 20c per barrel. Hogs were higher
but the demand for pork was Comparative
ly light, either for immediate Or future de-
livery, while offerings were moderate.
Cash about the same as September.
In larG there was only moderate bust
ness ana the market must be quoted as
ruling weak. Early the market was strong
and prices were shade higher than at the
close of Change yesterday, but weakened
off later under free offerings, and closed
at decline of about 17115c per 100 pounds.
Cash and August not offered freely, and
prices we're nominally 715@1Oc under the
September option.
The signs all point to an advancing mar
ket, not because there has taken place any
substantial change in the supply or de-
ma1d, but because the strong spectators
are ranging themselves on the buying
side. The shipments out of here of
100000 bushels of wheat by Spectator
like Sid Kent ought not to affect the price
of it, but such shipment would, and such
shipment is promised and expected.
Kent has been buying wheat since it stood
at $1.10. He owned great deal of it
Jointly with Armour some months ago,
but sold out at a big profit. He then
picked it up again after there had been q
drop of nearly l0c bushel and attempted
to advance it, It did not advance. It
tumbled and Kent dropped his load, but
managed to catch On again at good dea!
lower figure. This is Kent's method. He
does not, like Armour, attempt to bull3oze