Daily globe., 1883-08-03
THE TENDENCY STILL DOWNWARD
As Far as There is Tending in any
Direction.
UNION TAKES A TUMBLE
The Bears and Bulls Of Wall Street
Making Mouths at Each Other.
CHICAGO.
Especial Telegram to the Globe. |

OhoASO SO-Noy' "A GEIno larger business
was transacted than yesterday, but at low
er figures and the feeling was quite unset
tied at the close. Nothing better can be
hoped for this week unless something u1i-
expected intervenes.
The monthly statement of the stocks of
provisions at this point made public to.
day shows the following: Mess pork win
ter barrels 175,01O, other kinds of pork
barrels 1886. Lard contract tierces
59,4O5. Other kinds lard tierces 5,537.
3. p. hams pounds 49,
851, ,439. s. p. shoulders pounds 5,725,352.
D. 8. shoulders pounds 7,5S3,32e. Long
clear sides pounds 1882 685. Short clear
sides pounds ,237,919. Short
rib sides pounds 33,6O7,375
Other cut meats pounds 12,O18,474.
On the board the wheat market was
somewhat unsettled. Fluctuations were
confined to the small limits of 56@Ic, but
the changes witnessed were remarkably
frequent and the days trading was charac-
terized throughout by considerable irregu-
larity. Prices were also easier, the range
covered being lower than that of yesterday,
though the elosings indicated decline of
only 15@4c. The trading was larger than
on any of the former days of the week. 1t
was also quite general in its character,
and the business transacted aggregated
comparatively fair volume. September
was the favorite future, though both Octo-
Der and November attracted increased
attention. August closed at $1.001a bid.
Ninety-four cars were received to-day and
$4,000 bushels shipped. A feature of the
trading to-day was the heavy buying of
September by John T. Lester & Co., at
limit apparently Of S1.02.
The flour trade vas slow and dull and
hardly any trading was possible with dull
grain markets and Withdrawal of ship
ping and export orders giving considerable
depression to the market and making it
impossible for dealers to realize. The
fine winters and springs were steadily held
but good bakers stock would be shaded to
sell and the low grades are about the only
kinds selling. Bran and all mIllstuffs were
slow and the call light, still with limited
offerings steady prices were quotable.
Corn was active and irregular, fuctuat-
ing about &c during the session and at the
close cash No. 2 was the same as yester-
day, August nearly Ac lower, September
3se lower and October 10 lower. The
market opened weak at 3s@15c lower than
it closed yesterday, and for a time there
was very heavy feeling With strong
pressure to sell and prices fell irregularly
to nearly lie below yesterdays closing. But
later a good many shippers came into
the market, large number of
shorts being disposed to take
advantage of the break to cover
and secure their profits, while there was
also an increased investment demand.
Under the inquiry, prices rapidly strength
ened and finally advanced 4@4c from
the lowest point, again weakened some
and then fiuctuated slightly and closed
tolerably steady. Car lots Of No. 2 sold
early at 1870 up to 5o4c but closed at
about 50c. The last sale of August was
at 442c. The receipts to-day were 45S
cars, the shipments 1000 bushels and
the charters $4,000 bushels.
The oats market was exceedingly dull
at the opening of the session and lower
prices we're noted for all futures butt bet
ter tone was soon developed and with free
buying orders the market sharply reacted
and something of an advance was estab-
lished for the day. There was an improv-
ed demand for cash and higher prices paid
and particularly for the old and it was
difficult to fill the orders in for cash in
store or in the sample market. No. 2 cash
was called for at 27M@272sc for new to
2815 O. 29c for old white. No. white was
sought after at 35c but hardly to be had in
store. Samples we're in lighter supply
and sold readily at an improvement
Only 56 cars were inspected to-day,
while $1,000 bushels were shipped and YES
sci room chartered for 125,000 bushels.
There was a good demand and firm mar
ket for rye. Shippers made some inquiry
but the main trading was speculative.
Nothing whatever was doing in barley.
Provisions show further small decline.
Quite an active business was transacted in
this market, but the feeling was greatly
unsettled and prices irregular. The receipts
of hogs were liberal and prices for the
heavier grades such as required for the
manufacture of the speculative articles,
ruled lower, and this had tendency to in
crease the offerings for future delivery. In
addition thereto the stocks were quite lib
eral, in some instances larger than gener-
ally anticipated, and this also had weak
ening influence. Foreign advices were
less favorable and quotations for lard and
bacon were further reduced Cd, while
the reports from the eastern markets were
somewhat discouraging to holders.
In word, all the general surroundings
of the trade appeared to encourage opera
tors in the belief in lower figures. Conse-
quently the market opened weak, and
prices ruled lower. The demand from
shorts was quite active, and prices were
slightly improved later in the day. Toward
the close the market ruled with consider
able steadiness, and the fluctuations in
prices were confined within small range.
The receipts of product were moderate,
and the shipping not very large. The Of
ferings of mess pork were quite fair, and
the demand moderately active. Trading