Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-06-22
The Chicago Markets Resuming Their
Normal Condition.
GRAINS STILL VERY UNSETTLED.
The Operators in Doubt as to Which
Way to Turn.
PORK GAINING A HEALTHY TON
The New York Stock Markets Some
what FeVerish and Lower
CHICAGO.
Especial Telegram to the Globe. I

CHICAGO, une Zl.-IueSday has proven
disappointing one on Change. Itseemed
last evening as if the panic had subsidized
and more settled state of affairs had
begun, but the air was filled with rumors
this morning which, although unfounded
sufficed to destroy confidence and cause
another break all round. 1t will take
some time to allay the great excitement of
the last four days and to get business
down to stable basis. While there are no
additional features to report, yet there is
predicting what tomorrow may bring
forth, and anything of this nature is bound
to continue the unsettled feeling.
Nothing can yet be deter
mined concerning the extent of
McGeoch's collapse, or what his creditors
will realize, and the fate of most of the
other wrecked houses hangs on the out
come. A dismal view is taken of the stu
alton. The markets all opened with
higher prices prevailing. Hopes of re-
action in wheat induced some early buy
ing, but the feeling is so nervous and
everybody so suspicious that the tendency
is all in favor of lower prices. This feel
ing predoninated with the trade, and it
was clearly to be seen prices must turn
back again, probably to a lower point
than yet experienced.
On the board prices were subject to wide
fluctuations. Trading was not active,
although the aggregate business
transacted was very fair. Operators
were undecided which course to pursue,
and operated cautiously. At the opening
the market was rather strong, and prices
advanced to a point 1@1 d above closing
figures on change yesterday, but the ad-
vance brought free speculative offerings,
and good deal of wheat bought yester-.
day at the lower prices were sold out at
the advance. These offerings caused a
weaker feeling, and prices fell off 258 @ Sc
for the various futures and closed lie
for July, 158c lower for August and &c
lower for September than on change yes
terday. July opened at $1.O7, sold to
81 OPS, dropped to $1.O5 and closed at
$1.0518. On the call 100000 bushels were
sold at board prices, but GA the curb
later sales of July were made at $1.0478.
The bears look confidently for much lower
figures, expecting a further break of 4 or
sc. Lindblom sold July wheat on the call.
The receipts are vi5ibly decreasing, but 81
cars arriving today. Vessel room for 30
! 600 bushels was taken. The southwest sold
freely to-day.
| There was less to note in the corn mar
ket to-day. The trading was rather limi-
| &o1, Jo41 =
the board, when considerable July corn
changed hands. At the opening there was
considerable noise, but comparative few
commission orders, and local scaIpers
had it all their own way.
The weakness in wheat served to
stop any bull movement in corn
until some orders for July appeared later
in the session. Kershaw g. Blair sold some
lots, but not of much consequence. The
feeling is becoming more settled. The de-
mand continues good and many operators
are hopeful of an improvement soon. The
receipts to-day were trifie larger, 800
cars, and the engagements but 10000 bush
els, though $685. bushels were shipped
out. At present operators are disposed to
trade cautiously, feeling undecided what
course to pursue. At the opening prices
were strong and about 4@3sc higher.
which was followed by further slight ad-
vance, but the improvement brought out
free speculative offerings from parties
who had bought at the lower prices
of yesterday, and who were willing
to realize and accept the profit they had.
These offerings, together with generally
uneasy feeling, brought about decline
of 1@14c per bushel and the market
finally closed 15@4c lower than yester-
| day. Prices were we'll maintained on
call, although great deal of August stuff
was unloaded. Sales we're 100000 bush
els. On the curb latter there was some
weakness shown, July, which sold at one
time at SOC, being offered at SAC.
Early cash oats were firmer and Ia &c
better. No. 2 we're in fair speculative
demand and the shipping de-
mand was somewhat improved
for other grades and for sample
lots. Futures were generally better at the
opening. Orders. seemed to be rather light,
however, and quite dull feeling prevail
ed. The dizziness finally developed into
weakness, and June and July declined 81
@1c from opening prices, and closed 10
| 56c lower than yesterday. Deferred futur-
es declined to about the extent of the early
improvement On the call under offer
ings of 100000 bushels prices were forced
down about &c, July closing at 3614c.
Rye was irmer. selling up 10 on the
board and about as much more on call.
Little was offered.
The expected reaction in pork and lard
drew some buying orders early, but it
would seem as if they were premature, for
the advance was simply a
squirt which gave way to a
decline in all departments. The packing
company and Fowler were not only selling
to-day, but pounding hard or prices, and
I selling orders we're received from New
York which were filled near the close on the
board. The result was that although the
range of prices was higher, they closed not
much different from Wednesday. There
was much less produce offered, and the sit
nation was apparently more healthy
Margins were not called with so much