Daily globe., 1883-08-18
CHICAGO.
Especial Telegram to the Globe. !

special Telegram 10 the GlODe.
CHICAGO, Aug. 17-Extreme dullness and
inactivity characterized the markets to-
day, and the tendency was downward. The
decline vas due more TO absence ef de-
mand than pressure to SELL 1t may be,
new the tslsgrsphic trouble is over, more
satisfactory wire service may bring out
frser ordsrs from the outside, and infass 4
little life in business, otherwise the bears
will control the situation next week. II
do not believe" said Hiram Wheeler, the
veteran elevator owner, "that the comA1s-
sion men here wereievsr so completely in
the dark concerning the future movement
of prices. There are SO few outside
orders that they have no way of learning
from them what the outside world thinks
of the prospects. They are merely scalp
ing living one out of the other. There
are apparently shortages abroad, but of
lots of wheat here. It is an even chance
so far as can see, whether
the price of wheat goes up
or goes down" Mr.. Wheeler expressed
the opinion of the whole conservative class
here. The best commission men are writ
ing the most conservative and the most
non-committal letters. The operations
continue so small comparatively
that the fluctuations in prices
| are confined within fraction
of cent. 1t is great season for the sale
of privileges. The sellers of puts and calls
are reaping harvest and growing rich.
Your correspondent this evening inter
viewed number of leading operators in
wheat as to the course OF that market.
Lindblom said: ''The market at the mo-
ment does not act strong, and it would be
No surprise to see some further decline"
Everingham thinks prices very near bot
tom, but liable to be based hereafter on the
supply and demand. Poole, Kent & Co.
say: "The tendency seems downward, but
the market holds fairly steady. 1t appears
to be in the hands Of the scalpers, who
control prices in the absence of outside
| business" Lester, who is a buyer still,
does not look for any great change either
way. Kershaw thinks the present tendency
precludes the chance of any bull move
ment, but revival of trading would alter
the situation materially.
On the board there was some activity all
round at the opening, but weakness follow
ed as soon as the few orders on the market
were executed, dullness continuing
to the close of the session. In
the wheat pit quiet feeling prevailed.
Early in the day few outside orders
were received, chiefly Eastern, after which
trading was almost wholly on local ae.
count The market opened at about the
closing figures on change yesterday, bal
later ruled weak and declined &c, fuetu
ated slightly and finally closed about SIX
lower than yesterday. There was no sps
cial change in cable news, and New Ysrl
markets we're lower while receipts at pri
mary markets we're fair. Local operators
as rule, were very conservative in theil
trading and seem to be pretty well evenet
!. up. A prominent bear house have bes,
9 free buyers for the past two or threa days
and it is thought are getting on the lon,
s side, but the scalpers do not appear uneas,
over the fact, as they know the house j
= working against it's judgement and will
g throw their purchases if the market weak
}: ems further. The inspections showed tn
n receipt of 155 cars; 900 bushel. we're re
o ported shipped, and the. charters providst
y for "a, 600 bushels.
g Corn was heavy both here and in Ne,
n York. A more quiet feeling prevailed
g ard prices averaged lowsr than yesterday
, Not many outside orders we're received
1t and the local speculative element did re
manifest any desire to trade beyond ,
b limited extent. moderate shipping in
n quiry existed, but in some instances onl
Ut to complete cargoes. The receipts wer
y smaller and foreign advices favorabl. fo
l. holders. ThuN weather was warm, an