Daily globe., 1883-06-26
CORN AND OATS ALSO WEAK.
Provisions Show More Activity but
Lower Prices Prevail.
ADULL DAY ON WALL STREET.
Some Secret History Of Yanderbilt's
Connection with Central.
CHICAGO.
Special Telegram to the Globe. 7

ed with the speculative itch who bought
wheat or corn on Saturday, feeling sure
the bottom had been reached and there
would surely be e rally to-day, were woe
fully disappointed. Everything sold lower,
and wheat IS now very close the dollar
mark. The decline. although II cannot
truthfuIly be called gradual, being accom-
plished mainly after the noon hour, was not
a break, nor was it accompanied by any
unusual excitement. Prices slumped of,
there being little to restore them, and the
markets were generally so heavy that their
own weight carried them down. Trading
was largely of scalping nature between
brokers. The speculative business
IS run very largely in the
August option, July trades
being well closed up and transferred to the
most distant futures. Notwithstanding
the cheerIess weather the bears in wheat
who recently covered, were free sellers to-
day, and in the absence of buying orders
another marked decline was brought
about.
Trading was quite active on the board,
and at the opening prices we're very nearly
the same as they closed at 1 o'clock Satur-
day, ruled tolerabIy steady for a time, the
fluctuations confined to a narrow range,
but finally there was general rush to sell.
Some local holdings being thrown on the
market, and a heavy line of selling orders
coming n from the country, the prices
soon began to decline, selling off about &c
from the highest point reached early in the
session; reacteda trife, but at the close July
was 115c lower than it closed Saturday,
August i c lower, September 1870 lower.
and year 115c lower. On call prices were
very Irregular, July selling down from
S1.O2 . a $L0215 and August from S1.O5
up to S1.05li. The frequent changes in
values brought about the sale of over
100000 bushels. There were $4,000 bush
els shipped to-day, and 75 cars received.
Last week $4,000 bushels were received
here against IS 900 bushels for the same
week last year. while shipments were but
$4,000 against 10000 bushels last year.
The visible supply has increased $4,000
bushels during the week. It is 2 very gen
eraI opinion that prices must fall to q
point where the cash property can be
moved ont. G ven should that price be IN
der &.
Corn jrifted another notch nearer
SOC to-day. A rather dull and declining
market was the rule, helped out by
Walker again selling August. the weakness
n wheat and the absence of buyers. The
prominent shorts that have been buying
for the past few days seemed to steer clear
~oT n lat 70 7ov-
much better opportunity to pound prices.
Receipts were light, the weather cold, and
everything tended to a higher range of
prices, but it seems rather impossible to
put the screws under corn while wheat con-
tinues to decline. The shipping demand
was moderate. At the opening the feel
ing was unsettled and prices a little higher.
but the market quickly weakened, and
prices fell of under liberal offerings, de-
clining with only slight fluctuations about
&c below outside prices reached, fuctuated
slightly, and finally closed about
15@58 lower than on Saturday
Prices we're a triie steadier on the call.
and 650C00 bushels, largely for August
delivery, changed hands. July closed at
$3.50 bid, having sold C lower at one
tina. There were $50 cars received and
266.0a2 bushels shipped. The only lake
charters to-day were for II, 900 bushels of
corn. The receipts last week aggregated
I,toI,o09 bushels, against $4,000 bushels
for the same time last year. while the ship
ments. I,571,000 bushels. we're but $4,000
bushels greater than then. The visible
supply Of corn Is now stated to be I4923.-
600 bushels, an increase of 100000 dnring
the week.
Oats we're very weak to-day, and there
was seemingly no bottom to prices. with
the trade following closely after other
markets and changing about rapidly, more
particularly to correspond with corn. At
the opening a steadier tone was notice
able and prices we're above Saturdays
closings, but break soon resulted, and at
the close rates were 1@1Lc off and dull.
No. cash sold early at 3415c, while later
few were willing to pay over 1890, and
buyers scarce at best. Samples we're
offered to a much larger quantity and
lower prices had to be allowed to sell. and
even then it was difficult to work OF all
that we're on sale. Speculative operators
lacked confidence and the trade was mainly
N the way of settling outstanding con-
tracts little better feeling prevailed in
the afternoon.
Rye was dull and weak, with hardly any
snlng doing. Prices were easier.
1here was no market for barley.
1hece was fair business reported in
the market for hog products, but the feel
ing was somewhat unsettled and prices ir-
regular. The offerings were moderate
early, and the demand active. which re-
suited IN fair advance in prices, but
about the middle of the session a weaker
feeling was manifested. offerings we're
naturally increased, and prices receded
again and ruled steady to the close. The