Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-03-19
CHICAGO.
Especial Telegram to the Globe. |


kets being weak and panicky.
The clique that proposed a deal in May
corn has apparently abandoned the pro-
ject. 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 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 & Co., who have been bullish
since anybody can remember, were sellers
yesterday. The Honoro Bros, who
have had their customers 'leng" of
short ribs, telsgraphed Smith, Mccormick
q 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 il 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. McGeoch, 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 a
fair degree of activity in this market, with
prices irregular and weak, and at the close
March was about &c lower than it closed
at l 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, sand fell
&c 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 are
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, while 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 1t was
next to an impossibility TO bring about
trading with so wide p difference between
buyers and sellerss II did aot pay holders
TO show sample, "a The feeling was de-
pressed one throuS hout.
There was IN active business transacted
in the corn market today, bUt at decided
ly lower prices, March closing &c lower
than at 1 o'clock yesterday, April 81
lower, and May &c lower. The break il
wheat had a depressing influence on corn
and together with the fine weather led tt
general loss of confidence and a large
amount of ''long" corn was thrown on th'
market. These excessive offerings caused
a speedy break in values
l and May fell off lie, bu
e afterwards rallied nearly 1c, then changed
slightly and closed steady. About the onl.
: demand to-day was from local shorts, wis
bought most of the offerings. New bust
ness was very light and scarcely any out
side orders were received. Car lots O
gilt edge No. 3 closed at about 5614c. Re
ceipts dated to-day were nominally =
over gilt edge.
Oats were breaking down heavily il
4 sympathy with other grains, and drop o
), 115c occurred early in the session. A PAL
tial recovery occurred later on. Nothini
e was doing in No. 2 cash in store, and 40
was the nominal price for car lots
: Samples were in liberal supply, and wit
the heavy break in the speculative marke
8 corresponding decline had to be Above
o for cash. All grades were lower and wer
:, going out slow.
:. Rye was dull, and sustained about 8
decline in price. The weak market fo
other grain caused larger offerings of Ma
rye. There being little demand this futur
broke to the extent named, and other de
= liveries followed. Cash No. 2 sold at COZ
Barley was very dull. There were seller
at former prices. Seller March and selle
:, April No, 8 sold sparingly at Coo and NOR
. could be bought at that price. Cash offere
at SOC with no demand. No. 2 entirel
nominal. Sample lots dull, and no bette
; than in store barley in price except whe
e of extra quality.
: The market for hog products was quit
5 active, but the feeling was somewhat I'm
1 settled and prices rated with considersbl
irregularity. Early in the day the feelin
was weak and lower. Prices were accepte
3 on all the leading articles, but during tn
l. latter part of the session on change de
. cidedly stronger feeling was developed an
+ higher figures were realized. Foreign ad
q vices indicated no particular change, an
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