New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-31
FEATURES or THE cmcAGo MlREErs
DECLINE AND A NEUTRALITY-SUSPICIOUS.
GIvEN PoR TIE CHANGES.
lnY TELEGRAPH To THE TRrnUNE.l

A DECLINE AND NEUTRALITY-SUSPICIOUS.
GIvEN PoR TIE CHANGES
InY TELEGRAPH To THE rRnUNE
Chicago, July 30.-A crowd gathered In the
wheat.plt this morning, tho bell sounded announcing
the hour for opening business and there were offers
There were the hoarse shouting and wild gosicu
ating When o'clock arrived another bell closed the
nroccedines Wheat was within Il OF q cent Of the
nre az which 1t opened There had been little grain
bought or sold There had been no reasons disclosed
why the market should move down as IL did, and none
Why 10 should recover rs IL dld' re" OUTSIDE
orders had been received, few OF the KIND had
bcen executed. but there had been some pretty
little gambling OF "scalpers," who put their money
down but who took 1t up again upon prices moving one
way or the other Il or L. There Of course.
however, philosophical reasons given LOT inc uarbct
changed There never yet was "a time when there "ero
M, fesc 10 be had Some aid that news had been
received from France that tho weather over there was
ad for wheat but this 20 account for tho recovery
and not for the drop. also was tho statement that
lndbom had sold his "ong" wheat and that inasmuch
ma he had been a menace 10 all buyers the market
naturally reacted when he unoaded.
tn explain the decline somebody said that whcatbuyers
had AT aat discovered that all tho grain nc Newly ork
WAS stump tailed" OF these explanations ono WAS rs
good "a another H. they no explanations at all
III McGeoch bad failed, Il his lard "corner LAD not
"burst II corners Of all kinds had not suddenly be-
come extra hazardous wheatp would now have been
the centre OF an excited aud huge speculative scramble
II ia said on good authority that Mr. Cudahy Arnours
mariner advised a corner in pork "No corner for me-,
Armour answered "Corners are unpopular" Not only
re there no corners there used 10 be pretty much
all the Time but there clques anticipating the mar
ket II clique, matter how strong should attempt
20 buy large quantity OF wheat corn, that would
Immediately De attacked by evenoghths OF the traders
I'm this market No crowd would sell &c confident that
the cauo could be burst and that following the break
M prices would be greatly depressed.
The receipts OF wheat week ut this point were only
13I 600 bushels against 900 bushels one year ago.
but nobody il excited over the figures or likely TO
become 80 Whom the winter wheat crop IS
all harvested and everybody knows about
how much Il Is and about how badly q Is wanted then
there a. likely TO b0 some lively fluctuations. July
wheat closed ~ 81 0OA August at " OLA ana sepem
her nt ~ O3io. Corn was under the same influences
n wheat aud closed, rs IL did, lea OF cent under sat
udays figures, July at 57 GEMS, August at OO5 cents
and september 50at cents There were lsl cars OI
aud posted TheJuytopton took another
ftle tumble aud closed at 2Dla and August NJ ZIi2
cents There Ia more money, II Is believed III puJ
ing August than In selling. There were 23oOO hogs NJ
the wards this morning when trading began me prices
dropped 20 cents u hundred. These Dig receipts sent
pork down 20 cents BARREL lard l2iaUlo cents anu
snort ribs IOl 10 cents hundred The demand now ~
Tor rnt hOgs not the big lard porker August pork
closed at SI3 72io and September az Sl3 WI August
lard az a. 10 aud Sci tember ~ SS %.