New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-11-08
SPECULATIVE ME6Er N cHIclGo.
lul TELEGRAPH 70 rm rRGuNE.I

CHICAGO, Nov 7.-Whcat quotations were
made to-day faster than they could Dc caught and sent
the tape. The Uit active enough to satisfy the
cryinr- Of the ponrc. trader In the crowd The figures
mounted up. w. until nearly the close. and until the
h,at strings of The "shorts" were almost swapping and
margins almost gone; then started down fast that the
head, ~ the longs sci swimming and half their
d1y's profits swaOVclup II a continuance Of
the struggle to-day, between the parties, with the
great Traders and tine cque- and crowds sellers; and
host ~ little trader, scattered wherever the tcc
rraph wires ran.
There has been O great dead said about shorts" but
really this class Of traders ha, cut les, figure IN the
twrut than m any Of the other notable ups ana
downs Of Late year, The recent advances from day to
day have not been caused by ri-hcs 10y terrified shorts
10 cover contracts. The crowd OF little traders which,
when au Armour, or q, Kent McGcoch Is running
corner ~ helps the manpult0is along by selling what
DO has not got, ha Of late been buying. Yesterdays all
vance oia cent not caused 10y any stampede Of an
excited mob Dl shorts neither the 2,CUt advance
of today The shorts Of late have been the traders
with en- of money aud with plenty Of experience.
Their, have rlaently been no Paulcs among them.
Tary-tbo-c 40 any rat" who have sold most
81 m" wbcat-hn,c where they have bought in at AL done
-oG,Dtratcy. The recent advance h, been caused In
brief 10y the direct influence Oi purchases vast in the
.rc-atr Oy a multitude Of comparatively small buyers.
II tAc advance had been simply caused by the alarm
among lIr short" sailor- decline might safely DE
'b.arso however cutting comparatively little figure in
the market the prediction Of declines or advances be-
comes "a NOR, difficult matter
Wheat 90 timr today two cents higher than It
We. Last night This at the moment of closing at
O'Clock. ON the cali there was determined raid made
10y Lester CO.. IcaIn. and Edrlgc & Co. The former
had broker offering 100000 bushe lots is under
the market Rclm WAS selling with all his might. Nat"
Jones apparently could sell enough 10 Is not diff
ncult matter lo Tie big better, 10 dcprcss prices tenn
polaIlly when there nothing 10 support the market
ccp genera, buying by small traders This afternoons
raid successful. There plenty of offers tor
2j,OOO b-he lots nj 09s cents for January while Les
tcs brokers offering 100000 bushel lots at 1914
cents; but OF these big bluffs called and they
affected the market. When the January option was
reached 1t was lowered L cent.
The closing prices the "call " were: November 90
cents December 99Ia cents, January 1919 cents, May
~ o. These hgurcs i9G4 cents under the highest
OF the day. On the call prices went of very rapidly, and
nj night January wheat offered 99s cents, and
May ~ O6' The trading during the day about the
wheat pit enormous. ON the call over 100000
bushels changed hands one house claims to have
bought and sold 100000 bushels II is part orthe gossip
tonight that the New Workers. the fellows who do their
business private wires, bought at the top to-day and
tonight all losers The bears tonight cxuitan
but the fact remains that even the low prices OF the curb
better than last nights close. Violent fluctuations
kly 10 occur radical breaks to follow sharp ad-
yances; but the majority Of commission still predict
that the trend OF prices IN wheat viii be up and not
down.
Corn, just yesterday, comparatively neglected
because OF the great excitement the pit
November to-day touched 407s cents Fifty cents
n conservative figure The close In the alley
night November 40, December 4s9s, May bOla. |
and nearly identical with iast nights
Pork advanced 300I0 cents per barrel to-day; Lard
l7i9a20 cents per hundred Ribs 025 cents November
RIBS closed on the call ut 6.372 November Pork closed
at ll.12l2; December at 1ll5 January at l1.77l2;
November Lard at 7.52,2 january ut 700. Prices
yards good authority says that the signs point to-
night to lower prices morrow on provisions.
w. w Day, a small broker failed today bursted by |
too much "long wheat"