New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-08-11
CONDITION or THE CHICAGO MARKETS.
WHEAT RISES AND CORN. PORK AND LARD BECOME
LOWER IN PRICE.
lBY TELEGRAPH TO THE TRIBUNE.l

WHEAT RISES AND CORN, PORK AND LARD BECOME
LOWER IN PRICE.
lBY TELEGRAPH TO THE TRrBUYE.l
CHICAGO, Aug. 1O.-If this market had not
been through the lard panic and been made proof
against ordinary financial disturbances by its own
extraordinary experience the stoppage OF two banks at
Indianapolis would have turned things upside down
to-day. indianapolis trades here proportonatey
larger scale than either Gin ennati St. Louis Many
lots OF provisions held there and half the deal
ers In the place interested less IN the prices
OF produce at Chicago; yet while the bank failures
started cloud OF rImors and gave the gossps much TO
enlarge upon, provisions were depressed not at all
slsrmngy, and wheat actually increased in price.
gentleman whose resations with indianapolis very
close. and whose facilities for getting correct nforma
uon better probably than anybody else here said that
ne had dispatch late In the afternoon which said that
me Indianapolis packers had borrowed money OF the
sovent banks had withdrawn their accounts and that
consequently none OF the Indiana product would
on the market simply because Of these suspensions.
Ii was not extraordinary that pork should drop 25
cents, lard 10, and ribs 20 cents IL has been for long
~he an open secret that all the Indiana spectators lost
enormously through McGeochs failure to corner lara
ana that the local packers loaded with properly
That had greatly deprecated in value II was naturally
reared tnst the banks had lost money by the pork spec
aia,ors ana that there would be much produce to sell
instantly TOT what would bring At night the prices
= A~ H"' icVofefcu much, neither had the
selling OF the crowd improved greatly but the packers
lad received word that the Bill English clique would
certainly take hold OF the First National that IL womb
% opened In the morning better than ever and that
me indianapolis pork pro duct 10 be sacraced
IL there Is no new disaster tomorrow tnot AN nm
likely thing. however, for they are bee Smng IN
pleasantly common provisions likely TO begin TO re-
rover the ground lost during the past twenty four
soars The supply and demand ha 70 not changed
as to encourage selling The shipments to-day we're
s ,ar nsavy ana the receipts OF hogs continued small
x xu5y9st pork stopped at $l2 72 and September at
" 30 August lard at So IS and septe,nber m az 9
august RIBS closed at So so.
creation between the buyer and the seller OF casb
$500 Wa evidently very notably changed within the
gast Few days The man who had IL 10 sell few DAYS
az ABOUT from ONCE 10 Office with the
nsnS "a Al ole clio man. To-day he was erect, indie
fent q, LOO nnn Charter. were made for the ship
nd SAID that No spring wheat was selling at 81 i3
10 above: The cables were frmer and snnopnced
fos MARKETS. These circumstances partly accounted
vhea ana the fsssG9shR between the
sTSnoinon Of the local crowd, however had more
To W 10 with It. Lester started IL IL believed
vsc ne snort wheat and several lesser shorts fol-
lhe bulls soon began 10 feel that their loads
Co., becoming little buoyant September wheat
81 ot1a' ~ O4s and August at 81 02a1, October at
rvai, .nese figures are l29& cents better than last
ere~d. "A fumor from HewYork said that the Kent
Seear nad SOLD its wheat for October and September
fs tne action OF the market during the first OF
Kent bas nAa oeen disappointment and they said
worth m, S'vany gone short again. The rumor Ia not
Vhss, II Is not at all likely thai he will ship mIcn
gram sn any nor hkely that he will hold on his
ssrrs sy long The best traders are getting TO
lew believe that 1t Is 10 move up fast or steadily
Ar,a~A lap np-turn would be- pretty sura Ia
M'S The market Ksnrs holdings aud would i.s