New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-06-26
THE CHICAGO MARKETS.
A FALL N THE PRICE OF wuEAT-MGEocHs LA
BuIuRs PROBABLY EIGHT MILLIONS OF DOL
LARS.
ny TELEGRAPH TO TIE rRIBUNE.l

CHICAGO, June 25.-Wheat closed tonight
cents bushel lower than IL did Saturday hgh| Tue
June option stopped at 102 and July at lO-42
The more distant options were all consiuerd
bid lower too. The market opened pretty
strong but the sellers overpowered the
BUYERS and then enSued decline. J. 7. Lester & Co.
and swartz 4 Dupee continue the raid on the wheat
market They began fortnight ago and appear to Dc
acting in concert 81 believe said a broker "that
Lester is short million bushels Of wheat
"Most OF It sold at nigh pricesi"
ono" was the reply; most OF IL sold recently, ana
moi less than million bushels OF II sold 10 day" This
bear clique has arraigned the whole street against 1t
BY the peculiar tactics 1t pursued during the height Oh
the panic, and IL the market should take n
sudden urn up would be called upon
for a reckoning. Scores Of brokers and commission
men are quietly lying IN walt for the chance
20 ZEAL" Lester aud his whilom partner swarz
a. numerically "a they issued their " calls
during last week. II does not look to-hsh''
however as either the uptrn on this eagerly looked
for DAY Of reckoning near at hand wheat IS uul
and both Lester and swartz may II they are clever s
90 on selling and gathering in their profits on THIS
short siae without fear OF their enemies.
Saws broker describing the situation about the wheat
pit: "There are strong men buying wheat Netner Is
there apparently any concentrated buying Great guam
titles OF grain change haods Oh course pus
while half dozen concerns do most Of
the selling a hundred or more 'scalpers, shorts
o,d otner, do the buying The latter stand around. too
for The eighth-cent turns You cannot see brokers ID
the pt filing up their cards with the grain and gather
Ing + n AS II they wanted it, If not at one figure then at
another The market truly is very hesVy a. hea'y a.
Ths condition Of things likely TO the wheat
| moves out The stock is watched now py everybody;
d hIsrs: at S Slsds' Inside Of sixty days
e the warehouses are filled with last years grain aud
nearly SIX million bushels OF wheat are lying IN 'nls cry
% S s%S SSsH a pG"'
more radical OF the pears nwn no t tsAsa Inn, %
d lard panic these radicals lowered their figures TO
dnllar and now they meditatng anothercut IheTe
sboTIage In this years winter wheat crop have
not ali been converted, although most OF them
Ve srdom become lust such the radicals oil Ell her
the nighrce the ow.pTee party prophecy IIe re
night wheat bought at present nures Is ss az
any very heavy buying or any very sharp advance;
| There have been vast sums OF money sunk with
very few days in produce speculation Dy tue Sn
mis- partly explains the present depression me pus
have lost their money Insy nave lost oesa ss
their courage. 1t is not certain but tina povSons are
still good deal TOO nigh. They are now being streh9,
ously supported, but they may tumble assm
tnS with wheat and declining, notwithstandng there
Sontouss TO be br ys sossa nht ct 81 o. july At
~ o2la June corn at 534c July at o3os PORK closed
| liver. On the cali " Armonrs partner MI:
Favorte, was ,so,,v pIg Ugh tps ygs.rn Of SUP
nnrting n The operators who have been bearlshs
Geddes, the Chicago Packing Company hrkwoo1 ana
HTmonr. who left on 4 fishing excursion Saturday
njgh lef orders that the provision market shDuu DO
snsstaned Junr pork STOPPED at SIT ID and July al
Si7 o. June lard at 80 81 and July AT ~ ia ,
81 ace said Mr. j. Il. BensIey, receiver Tor McGsOch
Fverrgham & CO., "that have been quoted as saying
,hat me liabilities OF McGeoch were 5OOO0OO, Those
figures not correct Tne liabilities VIII DC over 20
OO0OO0" - ooo 4. a.. a., .,,odr.s. n, No.
| Ceooh 10 Alexander Mitchell
No t does not include any Milwaukee indeotedne IS
at ALL"
. I Jon;t find any Of much consequences. The assets
may amount to $4,000. but hardly relieve they
Among whom is this seooo.oooo Indebtedness divi
Between Board OF Trade Drms, banks and ou tow
customers"