New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-02-20
THE CHICAGO PRODUCE MARKETS.
RUMoRs OF FAILURES NOT VERIFIED - THE PRO-
VISION MARKET WEAKENED
fBY TELEGRAPH TO THE TRIDCNE.I


CHICAGO, Feb. 19.-The failure of j. '.
Ayers sons had exactly the effect the speculative
markets day that expected Every kind of prod
uct started lower prices and there was not coura
geous buyer any OF the pits Rumors OF disaster were
rife. report abroad early that another big iron
house had failed but this ruuor after flying about for an
hour without being verified way TO another touch
ing mysterious grocery house. Sensible people sent to
the banks and commercial agencies 10 verify these
alarming stories but OF these authorities knew Of
any failures.
Tie opening prices for wheat the highest OF the
day There was decline OF L Il cent
a bushe. and then rally OF Il q cent
Just before the close. Heavy orders from New
York especially orders sent to j. b. Hobbs Il CO.
and J. T. Lester & Co., did good deal 20 restore the
courage OF the bulls" Wheat closes tonight only L.
and corn only Jig cents under the figures OF Saturday
The corn crowd Is smaller than the wheat, and con
seaueutly good deal under It's influence. Tho receipts
were smaH for Monday, only 212 cars, and OF THIS mum
Der only IA graded No "a little over per cent THIS
Is the poorest grading for any day this year Corn was
affected exactly Us wheat by the rumors OF failures
Al the close Ahc figures o2le GA cents for May
and j71s for March, Il ls cents under Saturday
At Least haf a dozen dispatches were received from
New-York announcing that tho edlct prohibiting The
entrance OF American pork INTO Hrrnahy h"u D'rh u
sued The provision market weakened by tue eNll news
staggered under the bad news contained III these us
patches The facts were sent to haIf dozen Iheren,
on the subject from any OF my correspondence shd T.
d. Armour, 4" and don't believe the runOr. would bo
the first to get the II II true. Cable orders
have been received by to-day 10 be shipped next
month. and reference 10 such action was made. !
have 10 doubt, however, but that the edict III be
passed. ,,,.,
Peter McGeOgh holds enormous line or lara options
On the best OF authority 10 II said that be mas not less
than 80 600 terccs bought 1t s currently believed that
Armour holds all the cash lard he certainly holds all
the cash pork The jobhng demand for refined lard Is
unusually good The 10000 torccs In stock are -ald by
all makers to be inadequate TO the demand ana That
naturally the prices viii advance The proposed new
corner" rule which framed by special committed
appoucd by the Board voted upon 10 day ana de
feacd IL is not likely that any corner rule will be
accepted here for long while The crowd just now Is
on tic bull side while the big cpcrutOrs nIc largely
with the bear" party. so long a. his arrangement
lusts no corner rule. good bad or indifferent stands
any show Pork closed i7l2 q - cents Il barrel and
lard 12i2 u hundred below the prices OF satur
DAY night The trade IN provisions was lnIge.
.Mes,rs KTeigh & Davies offer 10 pay Their Board oi
Trade creditors with COrwihH notes Tor ten years at
per cent refuse to indOrsc these notes The propo
ston was not accepted. 1t owes Sl26OOO on the
hoard