Omaha daily bee., 1883-05-07
The BULLS IN A CORNER.
A Future Deal in Wheat with
Millions in It,
The Armour Combination Sue.
cessfully Elevate Prices,
Review OF the Grain, Provision aud
Live Stock Markets OF Chicago.

CHICAGO, May 8. Herald Spe,i,i1
The truth OF the statement made n
week ago, that the early Of a
large deficiency In the winter wheat
crop were not being verified as the
season progresses, Is becoming more
evident. By no means 10 1t to DO tx
pected tina. the wheat harvest Of 1889
will be equslled this year, but thai
the Ices VIII bs 20 per cent, or a hun.
drei aud twonty million bushels, ne i,
claimed by Interested parties, is no.
believed b. few. The Armour. Lind
blom combination, which Is ''buIllng"
the market here, raised q hue and cry
hat has not yet died out over the ca
Innate, of rhe New York Tribule,
whose recent exhsu,,ivs crop report
they have badly ventilNsec; that por
ton relating to the northwestern
ststen being shown to have emauated
from Milwaukee where 1t wss manu-
featured, but one side may be no ncsr.
right than the other. Conservative
persons arc incliued to take a medium
Wow of tie situation between these
two exlremss. The interests # ths
dominant element here lie 10 convJy.
lug the impfssi'oa that the whoa, crop
will prove n f. urs. L. has bluJtt
millions of bushels for fuiurs dsItv,rS
and hopes so reap u magoiEc4n prIiiS
by unloading this grain at trces up
among the twenIie,. 1t has had
things pre- ty muoh it's own way this
-aaI 49,, vul,,. hAy I..pt nN tkntr
upward course with few eetbacks
The longer futures, ordinarily ~ a
large discount, have been most ~ mpa
thetic, auEuet advancing five cents
during the first half of the week alone.
Among the strong operators who ave
heeu r ding this IN rvement are Ar
mour, Toule, MEG ,och, Fatrb nix,
Kent, Nlchola. L.n3blom, Kershs~
and n score OF others almost u lily
we'll known. By large class OF ON.
servatiye Gea,eIs prices are reg 'rded
ag too high, ard, ss a rule, the ''ooarA"
put little faith In the boom, rega-oiag
1T az a move By the ''bu!ls" tcscli ou::
yet, while they neither believe In a
very shoot crop nor the sincerity OF
their antagonists, they are not dtspos
ed TO sell short, knowing that the syn.
dictate has 1t In Its power to
PUT PRICES MUCH HIGHER,
provided 1t can get q sufficient line OF
shorts to render 1t an obj ct to do 80.
A circular iOsued BY - leading hnuse,
noted fo- its c)n,srs5ivlsm resds as
follows concerning tho deal: "rhere
is no open reason to think that q eys'
tematic oorneripg of the market Il
now in,endcS; bat ths fessn. ruling
of the enpremo court Ia Ne joey
whSst CeAl makes ,hr ~'n-sr" tisnle
,'norous, and 'hio t,c c,retlunCsa he
reUl sJ:elg'h t Ice mtfoey - tay
There i O g. ii.i ,ut lSssUI 20 Apitp
bend u isIge "ueai s.orCssa lou o.I
next harvest, although the spring
seeding Is late, and Western Europe
has plenty of wheat offered by otheI
countries at present prices. The
British farmer can scarcely afford Il
rats3 wheat ut current quotations, anc
cauaot raise Jwo'thirds Of an average
crop t1is year anyway, while every
thing points to low rates of srsrspor
talon Ihi3 summer, and money Is to,
plentiful TO iEvite bearing at los
prices here, We cannot 200 that tn
present level is likely to be sustained
through May, unles the persistence o
small movement from first hand
should be seized al the basis for an
other corner"
Tho opening OF the new mont
brought about free deliveries of Ma
stutfs wtthouG producing the smslles
kind OF disturbance. Two months sg
1t was prophesied that when May l.
came all the whea. aud corn In stor
here would be thrown by the holder
and fud 10 takers except at a big de
cline. 1t proved there were tsker
for everything offered, aud prices sd
vsnced sharply during the DAY.
Corn has been a dull market an
shows li'tle sign of becoming other
wise. Values have fuctuated mild
with other markets, the tendency b.
Ing as elsewhere, upward. Somewha
more than last week was doing, Their
being
SMALL SHIPPING DEMAND.
Oats are quite unsettled, with indi
cations of a sharp upward movement
The old crowd lately "bulling" thi
cereal have again became active
David Dows & %. and Harvey & Co.
of Baltimore, are understood to b
behind ostr, and the outsiders appea
to think that the recent break was In
duced by these parties In order t
catch a fresh line of shorts.
The week, as expected, has see
the opening of lake navigation an
nearly 200 vessels of all kinds hav
moved out of harbor here with 1000
600 bushels of grain, This will csus
considerable reduction In the show
ing of the nexs statement of stocks.
Provisions have been quiet and nr
settled, opening the week with q shar
advance, but, Influenced by the larg
increase In the receipts of hogs, and
slow shipping demand, became meakf
later and lost the greater portion {
their advantage. On Thursday agai
there was another up.turn, snd til
week closed higher than last. Til
trade Is SO completely In the the hanG
of two or three men that brokers gel
orally advise their customers to kee
out. This has curtsiled trading to q
extent, no n knowing In what dire
ton the combination may TURF price
1t now looks as If there would be 81
other and considerable advance.
TEXAS CATTLE.
The first lot of through Texas "a
tie to arrive In Chicago were receive
here on Tuesday. They numberC
100 head, averaging S5S pounds, al
sold at So, having previously sold
st, Louis on Monday for "a. 30 P
LOO nnnnda IL l. arnactad til