Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-08-22
SMALL TRADING THE RULE.
BEARS CONFIDENT OLA FALL.
CHICAGO.

oSpOuSeu Lne cduSS OF Inc DeArS anu Is
dong them effective service Every up
ward movement is checked by some I'M
foreseen occurrence. Yesterday there ap-
peared to DO signs Of renewed life in the
markets and a revival of business was
hoped for. To-day the burning of the
Western Union building rendered useless
1926 wires, cut off the greater majority of
outside orders, and as a natural result
wheat sold off under the heavy offerings
and sales of local ana New York shorts
depressing all other markets and putting
an abrupt stop to the buoyant tendency of
the previous day. 1t has been one of The
dullest days of the season, and at times the
pits were almost deserted. Every market
was heavy and lifeless and
the sc2lpers controlled affairs. AS stated,
wheat started the reaction, opening on
basis of $1.O438 for October. There was
g half hour of tirmness and an apprecia-
tion OF about 4 C, but the turn soon came.
On the break one New York house bought
quite heavily at $1.O415, but later on the
general crowd proved too much for the
market and the price declined shade
are freely offering this option at $1.O43s
with $l.0414 bid. Business dragged heavi-
4y during most of tbs session. Operators
were not only deprived of their customary
market reports, but were prevented from
communicating with their customers.
Hence outside orders received were light
and speculation INDUCED in
uoG coOfipod 70 fradipn Of 10
cal traders who, however, were reluctant to
branch out with any freedom. The move
ment was dull and sluggish, and frequent
ly intervals of five or ten minutes elapsed
between the making of trades. At the
close prices were 58c under yesterdays
last figures on change, but later in the
day further concessions of 115@14c had to
be made. The movement of wheat out
was fair, 1850 bushels being shipped
and lake freight engaged for 10000 bush
els. Winter wheat was in good demand
and quite firm, 12c higher figures being
asked. New spring wheat is held at
premium of e over old,
Corn held up remarkably we'll under the
circumstances. The receipts were again
fewer orders than ever As in other lines
the interruption OF Geographic communi-
cation affected business and in speculative
circles particularly restricted the trading
largely to the operations of local opera
tors. The days movement for forward de-
livery was considerably under the recent
daily volume, and at times the pit pre-
Hn1
LindbLom bought considerable September
and October corn. This had something to
do with the steadiuess. The receipts were
again large, yet there was no weakness,
and prices ruled with remarkable steadi-
ness, and fluctuations being limited to a
small range. The closings averaged 10 &c
higher than on yesterday. Cash corn met
with a fair demand, No. 2 sold at 5000
sligo, the inside to arrive. The charters
to-day were 100000 bushels.
Oats were again q uiet and dull on the
regular market. There were large arrivals
and with consignments mainly held on
track the sample offerings were heavy.
There was good attenda nee of buyers
however, and all sound oats sold well. On
the regular market only a light business
was done, and this was in a speculative
way. The feeling was very steady and
prices were slightly better than at the
close of yesterday. Car lots of No. sold
at 26@264c, and we're taken mainly to
make up round lots. The futures closed
15@ &c over yesterday gained late In the
session but the appreciation is not regard
ed as stable.
Rye was dul! and about half cent lower,
shipping orders were light,
liberia! sales of cash were
made with the stuf said to be taken main
ly to hold. Speculative trading was
otherwise light, and futures were quite
neglected.
Ola No. 3 barley sold at 45c, the same as
yesterday. This was the only business
done. There were some bids aud offers OF
No. 2 on the speculative market, but they
were still somewhat apart.
There was only light business reported
in the market for hog products, and the
changes in prices were comparativeI
slight, spectators were not inclined to do
much trading, and the shipping orders
were checked to some extent by the lack
of telegraph facilities. Prices ruled
stronger and higher early in the day, but
ruled easier toward the middle of the ses.
sion. Near the close the feeling was
steadier, and prices rallied
slightly. Foreign advices were
meagre and indicated no internal change
in prices. Easter markets were steadier in
a general way. The receipts of products
were fair and the shipments were quite
liberal of all kinds.
Pork was dull but averaged stronger
with the fluctuations confined within very
narrow limits. There was but a meagre
demand either for immediate or future
delivery, no urgency in the offerings and
nothing to create activity. Early the
market was strong and prices advanced
some, but reacted and closed sc per bar
rel above yesterday. Cash and August
dull and nominaliy the same as the Sep
TENDER option.
There was not nearly that interest man.