Daily globe., 1883-08-29
But Not Much Business After All in the
Condition Of Affairs.
A CHICAGO SQUEEZE IN OATS.
Which Lends Little Temporary Va
riety.
THE BEARS STILL ON THE TOP
And But Little Prospect Of Any Imme-
diate Change in Wall Street.
THE BEARS STILL ON THE T(
CHICAGO.
Especial Telegram to the Globe.

oay. The stocks are very light, and bull
movement was unexpected, hence vigor-
GUS raid sent prices up 2115o from the open
ing IN very short time. The sharp rally
is conclusive that there is still out quite
line OF shorts, and the situation for them
Is not pleasant one. Two firms are sup
posed to hold the key to the situation. and
they are disposed to compel the
shorts to pay as high as possible
IN order to cover. It has
been thought the receipts for the last
few days of the month would be so large
as to afford relief and the shorts have been
waiting with the hope of a glut in the
market. The receipts to-day are not as
large IS was anticipated being 100000. The
shipments are 10000, which leaves but a
small amount to apply on contracts. So
far as to-day is concerned, no charters,
however, have been made, owing to the
scarcity of vessel room.
From present indications the quicker
shorts cover their August sales the better.
AT the close the market was steady at 2S1Ic
for August, which was 1c less than the
highest point of the day: Butil ; evident
the shorts are not happy. It is barely pos
sible the month may go out with fiat
market, as 1t did last month in corn. The
longer futures are steady ana not much
Influenced by the furry in August.
There was no good buying in the wheat
market to-day. On the contrary the longs
were selling and recent sellers were about
q al,
cred shorts early, but were anxious sellers
when they found the prominent buyers of
yesterday were not increasing their lines.
Trading on the whole was less active and
the feeling unsettled and easier. The re-
celpts continue fair, and foreign advices
were unfavorable, quoting a dull and de-
pressed feeling. The weather l.. England
was reported SIS hot and forcing.
Outside orders were less numerous and
there was less desire shown to operate.
The market opened at about closing fig
ures of yesterday to lc lower and quick
ly sold off under free offerings, finally
reaching point 5000 below, then raj
lied trife, fuctuated and finally closed
about cent lower than yesterday.
Corn closes easier after the morning
bulge; August shorts bought freely all day,
but there was persistent hammering by
leading bears, and, although cash corn
held firm, and New York continues strong.
! the bulls could not hold prices. The in
ferior grades continue in excellent de-
mand. The continued inquiry from ship
pers is the strongest feature of the mar
ket Both the shipments and charters
were large to-day, being 416,OOO and $780,
900 bushels respectively.
On the board the market was fairly
active and the feeling unsettled. The re-
ceipts were again liberal, 966 cars
and $4,000 bushels being inspected into
store. Foreign advices were unfavorable
and the weather was not cold as had been
expected and there was rain in some Sec
tions where it was needed for the growing
crop. Under these influences the market
opened weaker and prices decliAed 36@%c
below yesterdays closing figures. But
later when the cash property came on the
market and it was discovered that the
offerings were eagerly taken up by shippers
and spectators and that No. 2 especially
was being actively called for to cover
August sales the feeling became stronger
and prices advanced 35@15c, the market
finally closing easier and 15c higher for
cash and August and 10 lower for Sep
tember and October than on change yes
terday. No. was active to fill shorts and
firm at 51@511sc and closed at 5116 bid.
High mixed in good shipping demand and
rejected in active shipping demand.
Rye was dull and 4@Ho lower. The
demand was inadevuate to the offerings.
The opening trades in provisions were
indicative Of few outside buying orders,
which were filled at last nights closing
prices, $22.3O and $3.50 October, but the
moment that wheat dropped 1sc the bears
began selling. Steever has been the most
Ii Oeral with his offerings. Business failed
to show as much activity on the market as
the strength exhibited yesterday. On the
contrary the feeling was on the bearish
order, while the trading was slow, spas
modic and only moderate in volume. In
the morning there was some life in chang
ing over September trades for October. but
outside orders were limited, and during the
last half of the session slow market was
generally witnessed. Prices were
easier and at the close de-
| cided decline from yesterdays closing fig
ures was Indicated. Cash product was only
| moderately active.
Pork suffered decline based on yester-
days closings Of 2O@22Hc. Early sales
were made at outside prices which were
also about the same as yesterdays last fig
ures, but the tendency was downward and
the market gradually sold off with little Or
no fuctuation to speak of. The last sales
reported were made at the lowest prices
quoted. The business transacted was only
moderate. Cash pork closed at 1890
1900 according to quantity. The disposi-
ton among operators is to sell on the
furries and cover on the breaks.
Lard sympathized with pork opening at
about yesterdays closings, ruling
easier and lower and finally
closing on the active futures
15c under the prices obtained on the first
| sales. The more extended futures were
only 215@5c under yesterday. The trad