Daily globe., 1883-07-23
Chicago Again Chronicles Depressed
Markets Owing to the Tele-
graphic Strike.
THE WHEAT DEAL UNDERACL CLOUD
Corn and Oats Both Lower, With Pros.
pects Less Favorable.
PROVISIONS SHOW A DECLINE.
Stocks i'll New York Booming With
Good Future Indications.
CHICAGO.
Especial Telegram to the Globe. !

CHICAGO, July Zl.-DullnesS relgned on
Change to-day. Trading was confined
within very narrow limits. To still further
eomplicate matters, the market reporters
and operators of the gold and stock tele-
graph company quit work this morning,
and traders were pretty much shut off
from dispatches relating to the markets,
the tickers no longer performing their ac-
customed functions. The strike of the
telegraph operators is very serious mat
ter, and while there is no question but
that the telegraph companies are doing
the best they can, their force is exceed
ingly limited, both in numbers and ca
pacity. In fact, messages sent or received
are few and generally delayed, so that
communication with the outside world is
meagre and very unsatisfactory. This, of
course, prevents the receipts of orders,
and makes the trade very largely local in
character. The weather is hot and sultry,
and the majority of operators are inclined
to contine their transactions to the neces-
sites of their business.
On the board wheat was somewhat un-
settled. During the morning, when there
was quite fair demand from local trad
ers, who were anxious to even up or
shorten their outstanding lines, the feel
ing was strong and prices sustained sub
stantial advance. About noon, however,
quite change occurred in the tone of the
trade. The urgent buyers having COM
pleted their purchases, the market lost
md
followed. The decline was both general
and important in its character, and at the
close prices were 1s@1c lower than yes
terday. Now and then few orders came
on the market, but generally there was
lack of trade and interest, and brokers
stood around watching and waiting for
some new development. What trading
was done was entirely speculative and
mainly local. OF the forty-two cars re-
ceived thirty were of new winter wheat.
There were $1,000 bushels reported ship
| ped and vessels chartered to move $4,000.
| August closed at 255s bid.
Lindblom was reported to be large
seller of wheat to-day.
The flour trade was dull, and hardly
anything was doing, with fair call from
the local trade for fine family and bakers
brands, but with orders from outside next
to nothing and little besides low grade
stock can be sold. The quantity on hand
was light and dealers are not forcing
sales, with the western mills grinding
| hardly any and few lots a re coming for
ward. Bran and all mill stuffs were 60
| ing off we'll.
In corn there was a moderate specula-
tive and fair shipping business trans
acted, but the bulk of the business was
during the early portion Of the day, and
after that most of the orders had
become filled and slow
dragging trade existed during the
last half of the session. The receipts
were considerably larger and foreign mar
ket advices quoted a steady feeling. The
market opened at about the closing figures
of yesterday, but advanced about 10,
then became weak, when it became known
that the arrivals were large and under free
offerings prices declined 4@118c with
September suffering the largest reduction,
fiuctuated and closed 38c lower for Octo-
Der. No. . was in good demand and
closed at about sic. August closed at
51@5118c, Outside orders were even fewer
than yesterday; 478 cars were inspected in
117,OO0 bushels shipped. Vessel room
enough for 10000 bushels.
Oats were more active and stronger
early in the day and the near futures sold
up 10, but quieted off later and lost most
of the advance. decreased shipping
demand caused an easier market for No. 2.
Nearly the entire arrivals were to the
sample market and bringing more on
| track or f. o. b. than could be had in store
particularly for the fine sample, and poor
grades being less called for. During the
last half of the day hardly trade of any
kind was noticed in this market. On the
board 139 cars were received, $4,000
bushels shipped and lake engagements
made for 10000 bushels.
Rye although very quiet was held firm.
In provisions trade was moderately ac-
tive, smaller than during the previous days
of the week. Orders were meagre and
operators not inclined to do much trading.
Foreign advices were without material
change and the markets were extremely
limited. Receipts and product were fair
and shipments quite liberal. The ship
ping demand was quite active chiefly on
export account, the market opened rath-
er active at slightly reduced figures and
soon rallied to outside prices and receded
materially on all leading descriptions and
closed steady at the decline. There were
several prominent operators who were dis
posed to close up their deals and go away
for time or until business resumes its
normal condition.
The weakness is in the face of very light
receipts of hogs, only $500, and an ad-
vance of 10@20 in that market. Pork
was offered more freely for future delivery,
and, as there was an absence of buying
orders sellers found it necessary to shade
prices in order to effect sales, the result be-
ing rather weak market and decline of
SIG 4Oc per barrel, closing quotations be-
ing about $14.10@15.
Lard was comparatively quiet; market
weak and declining almost from the open