New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-10-30
SPECUL47YOY N CHICAGO.
CONTINUED RISE IN WHEAT - TRADE IN CORN AND
PROVISIONS DULL.

CHICAGO, Oct. 29.-At one time wheat TO-DAY
was at 94 for the November option 96a cents for
December and 972 cents for January The regular close
about cent lower but later the curb there was
such advance that prices really left night only
under the very highest point the day Kent to-
night" says the crowd ais trying 10 sell wheat" This
verdict makes ii very plain that the crowd Is Of the
opinion that Kent has been buyer and there Is very
little reason to doubt that ne has been buying Werst,
the satiscian and wheat expert who is in the Joint
ploy Of Armour and Sid" Kent has returned from the
country and has reported that 80 per OF the wheat
in farmers hands has been treshed and per cent
been sent TO markea large share for early the
SON His report has been "bullish" one His employ
crs cat least Of them have pretty certainly acted
upon his report. Kent 81 is believed, has been
buying for nearly week. and was very large buyer on
Friday, Saturday and this morning. Tonight dozen
brokers are believed TO be selling for him. attempting
to sell.
The weakness Of wheat for month or more after the
sharp decline stopped he's been popularity attributed
10 the absence OF rich from the market No big
men under wheat" is the way In which the cir
cular writers have put II yet now that "sd" Kent
millionaire professional SPECTATOR has entered the
market everybody admits that be rather impcrilz and
the safety Of buyers. "sid" Kent great
manipulation Of produce, and ranks Phil Armour
lie sustained deals and when wheat advances
few cents is likely TO sell part all Of his holdings.
There has been revival" among the incorporate
sellers gram within Inc last fOrtycight hours AI
pareny il is confined to no locality Traders all the
country, If the commission To he believed have
suddenly become converted and sending in orders 20
buy. Aside from the manipulation OF sid Kent, this il
the feature Of the situation. There has sprung up whole
sale buying. and faith in the "long"
side of the trading suddenly has become
nous, and interest in produce speculation
which week ago seemed 10 have celscd-cxccpt here
where the quotations made-has apparently all
sprung up everywhere again.
Has anybody been squeezed very badlyi" was asked
by half dozen brokers to-day. They seemed to think
not. There a very large shortage" hut II scat
tered Realu was short and swartz & Dupee and the
little Cncnnatan, Matthew'S but the great bulk Of the
shortage" scattered. " The market" said
broker "whirls about quicker now than 1t
did six months ago. Tho shorts for
instance, who have been caught by this last
3a cent up in wheais have pretty generally covered
and yet there may he as great sh9ftage almost az
ever but II Is wheat put out ~ higher figures Commits
their customers sharper they TO- and brokers
call each other closer than they used 10. losses
mighty quick, and for that reason you viii hear Of no
very great losses this up turn although doubt
there were dozen operators who had out short lines
Is big : "A million bushels"
"Thc situation now" said Broker McHcnry reminds
for Handy There big stocks and the carry
Of the HANDY corner The cincinnati crowd which Sold Tie
market short burred themselves and bursted me, too
No. don't think that sid Kent can manipulate this
market to keep outside buyers from making money
II Kent tired at any time to dcpres the market by heavy
selling he might get caught just the Gin annatias
He might not be able 10 get his wheat back"
November wheat closed the call tonight 9J2
December at 95a January Al 9G7s. May 1887 On the
curb prices i s. cent higher but because there
pearod 10 he anxious sellers night on
a little weakening. There nothing IN the iInmr-
diae natural situation which warranted advance The
shipments were less than half the receipts. private
dispatch from Ncw-IOrk said that most Of the wheat
there held by foreign and awaiting YES
sci for Shipments the for which had
made.
IL looks tonight Just did Saturday, there
should be decline aftcr the very sharp advance.
looks night than Saturday. because
added another cent 10 the prices The who buy
ing wheat and urging their friends wheat simply
their confidence IN the natural situation rather
alarmed than pleased by this recent very considerable ad-
vance, caused by purely speculative Influences. They
desire slower movement, and believe such /
one less likely than tie present 10 |
be beset with disc0uraging sct-backs. Armour I
saws that he does not pretend 10 know what wheat VIII
do but that II ought 10 sell MP. II will be worth ~ D. hc
saws but has sold 10 cents aud than
cents higher than IL ought To- The failure Of Culver.
PAGE H0ync a Coz very large stationary house had in
the excitement caused by the scrunhling Of the shorts
absolutely 10 influence NJ all upon the market
very duh IL closed exactly where II did
uTday after having during the day sold little ad-
vance because of the strength IN wheat. November /
stopped at 47ls, May AT 49, Oats little higher.
too hut fcaturecss Provisions dull The range OF
their fuctuatOn ridculOusly small and the closing
figures almost identical with last Saturdays and pork did
close idcnticay the Lard closed within DO cents
OF Saturday. Ribs were cents higher for November.