New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-10-10
an ADVANCE IN rHE CHICAGO M4RKETs
4 SMALL REACTION ~ WHEAT. CORN AND PRoyI
sIONs FROM MONDAYS DECLINE.
~ rrIEGRApH I'D No TRIBuNE.I

by TELEGRAPH TO THE TRIBUNEl
Chicago, Oct. 9.-Wheat reacted nearly a
cent bushel to-day. and corn nearly half cent The
temper tonight is so unsettled that is exceedingly
hard to decide whether tomorrow will be "bni" or
"bear" day The signs just little indicate the latter.
Todays advance largely engineered by the bears"
Tbsv covered their "shOrts" and then tried TO bring
about advance AS to PIT out their "short" lines
again at a little better figure Inc Hebrews who have
been short" covered. Poole, Kent Co.. it IS believed
covered and Roche, sherwn Co. not only covered,
but apparently went "long."
The situation however, has not changed so as to I'M
proye the spirit OF the "bals." They apparently
despanng as they were Saturday Messrs Armour,
Cole < Coz propretors o. tho elevators on the Chicago,
Burlington and Quincy Railroad have offered rebate Of
Ia cent per busnc in the storage charges Of Large
quantity OF wheat in their houses This rebate was
made on over 100000 bushels yet only 10000 OF this
quantity viii 20 cut OF town. The rest OF II
goes in o the National Elevator which happens to be
n road that this year has carried wheat. II
offer of rebate OF l2 cent on the st0rage charges viii
To- tako wheat ont OF town, II shows that the local
prices are more than that much too nigh 90 permit of
moyal to another market The truth t. say the ship
pefs wuea is much above the surrounding
mat II The elevators offered rebate Of 5
cents per busAel, there would De 10 general
removal This elevator incident has had a very
depressing effect. Rebates not unusual, hut they
have heretofore been only fractional; Og instance. Il
cent. lnats = cent per Dushe Tue present tepdts
however OF cent, equivalent 90 tie entire storage
forthe first ten days. and 900 bushels amounts to
over 100000 very handsome bonus, and0no which any
shipper would grab at II there We're not penalties IN
shipping which more than counterbalaneed.
The Armour, Dale 81 co. elevators have a capacity Of
over five million bushels. and this move on
their part shows decisiysly that they ex-
pect to have this winter to receive so
much wheat that it behooves them now to clear out
even heavy cost, part Of their bins. Tle railroads
port that the wheat loaGngs ia the country ncroas
iug, rather than decreasing s was expected Tic
receipts to-day exceed the shipments by nearly 100000
bushels IL is not impossible that the small traders who
have been buying in the expectation that bottom had
been touched, aud selling Whea decline IL be-
came apparent that bottom had not been touched ,
will take hold again tomorrow. Wheat at - cents is
seductive; but whatever the temporary nue uation
may be- the feeling here has not become bullsh"
The biggest traders are talking zoe for Dec nber snd
January The rich houses which were publish" have
abandoned tue buying side. rae RIGA traders in tneir
power top at the markc and the advantage Is all
WIN them. October wheat closed AT o. Ac November
at &c. December 96atc
Com advanced TO-DAY simply because wheat did. 1t Is
still neglected The sales on the call a. uight only
GG5.OO0 bushels IL Is not unlikely. how
ever, that speculation VIII turn shortly from
wheat to corn. The distant options OF
cora are not at premium, January even being
at nearly cents discount over October and the price
has gotten down so that great money Do
by Buying Fofy-Ve cents Tor corn for January Is not
considered by anybody au extraVagant igure. Then,
unlike wheat corn Is going cut naturally Ine sap
1 To-Day were oDy,UOO bushels, 2ODODU DuslelA
above receipts. October closed A. November
az 4G7s January at 45ii cents oats strong too
and closed Tonight y cent above Monday night
There small tr3te provisions,
and receipts OF hogs were fair % 900, aud tuc
condition excellent Pork lard ami ribs
for October closed Tonight ~ trhng advance over
Inst nigaL II there was more trade there woud how
ever De more action. Tue shipments o. cured meats
con niue enormous To-day they ag gated 5000
! 90 pounds. Provision men VINO are posted say that
there practically cured ribs left town nc al
| Ine warm weather continues, TOO. wnch VIII have a
tende cy the demand for ribs fully cured more
urgent Tie warm weather also keeps back tRe hogs,
for with mild temperature they gain In nssh rapidly
| and the farmers IN hurry to send
| them 10 market There are rs many believe
! in October squeeze ever, although Ar
Is himself selling spariugy FOR this month l. viii
COME It n thought ~ the end OF the October
pork stopped al SO Co. November ut $40 %; OCTOBER
lard at ~ 80, November AZ ~ 37l2; rios az
| 80 So November at 50 80
The claim vi the packer, haeley. against the C0mmeI
cia Fast Line out OF whan grow The war between the
Board OF Trade aud the easiho ma rrOals which lasted
long, been settled ana Hateley Withdrawn
IL Is kely tina; the genents board
FOR gathering am distributing produce quota
| lions Will be completed next week