Daily globe., 1883-07-11
Armour and His Associates Credited
With Shaking Out Small Holders.
GRAINS GAIN LITTLE STRENGTH
They Seem to Have Cut Loose Entirely
from the Provision Deal.
ANXIETY ABOUT THE FUTURE
Little Trading and Lower Prices in
stocks Oh Wall Street.
CHICAGO.
Special Telegram to the Globe. l

the Deiet that provisions naQ ABOUT Ioucn-
ed bottom yesterday, they broke again
heavilr, pork selling a dollar under where
it closed yesterday, with but slight reac-
tion at the close. Armour is credited with
being the main cause of the depression of
hog p-oduct, he having sold heavily
throug. brokers since Saturday and
brought the matter to a elimination to-
day il d general shaking out of long hold
ers cn a very pan1cky market. The pre-
vaiIinS weakness found its way into wheat
and con. carrying both down, despite
their inherent tendency toward firmness,
but shortly before the close they cut loose |
from provisions entirely, ral!ying sharply |
and scoring a good advance over yester-
day.
The Illinois department of agriculture
has Just received full returns from all |
counties of the condition of winter wheat /!
on the st day of July. These show but |
little Improvement over the returns
of April, May and June. The |
reports Indicate that the crop of winter
wheat in this state will not make much
over 100000 bushels or 32,OOO,OOO
bushels less than in 1882.
shows that Chicago elevators contain
5,995,OG5 bushels of wheat, 2,211,612
bushels corn, 523, $40 bushels oats, GAL ,247
bushe;5 oi rye, and 20,410 bushels barley.
As compared with last week the above
statement shows an increase of 1926
bushels rye and decrease of 84.398 bushels
wheat, 4I9,57S bushels corn, 190,03 bushels
oats, 49,536 bushels rye and 198,6SO
barley.
Failing in its attempt to get back by a
bill for injunction the market quotations
which were cut off some months ago, the
Chicago open board of trade has
filed q petition for mandamus to
compel the Western Union Tele-
graph company to furnish the market
quotations. The complainant AYERS thai
the telegraph company is both as to its
commercial news dispatch department and
general business a common carrier, bound
to treat all alike. and unable 70 make dis
crim:ua.:on or withhold information of
the ma--ies quotations it collects and fur
nishe> throughout the country. 1t has,
howevar. Tor some time refused to furnish
any suca Information 10 the open board,
and tra latter asks TO- a mandamus to
cOmpe. c1mDhaucr.
TIA last Chicago creditor has signed the
McGeoci compromise, but it will take
some time to settle with the horde of coun-
try creditors.
Ulrica King, Nichols assignee, and one
of the osst posted men in the provisions
trade. stakes his reputation on the Predic
ton that the product has now touched
bottom.
Trading in wheat on the board to-day
was quite large and an unsettled feeling
was developed, prices averaging lower
early, but closed higher. The receipts
were small but crop reports were
encouraging which, with the weakness in
provision circles, brought out quite liberal
offerings; hence the decline. Shorts took
hold quite freely with each decline, which
caused a reaction from inside figures, and
shortly before the close the market be came
excited, advancing rapidly. The sudden
and sharp advance was due to shorts Gov
ering, ;nduenced by the unfavorable crop
news from the Red River valley. The
marke. opened ll@15c lower and declined
about additional, then rallied in ali
with several fluctuations about &c, tluctu-
ated aai finally closed 159 chigher than
the closing figures on yesterday. The bulls
were large buyers at inside figures. On
call prices were a shade higher, and 1,150,
900 bushels we're sold under good demand
July c.5ssi at 80, sellers having touched
96l5 a. one time during the day, and Aug
ust at 1.3Ji5. Olly % ears were received
TO-DAY.
Corn Was moderately active, but the
feeling nervous in sympathy with wheat
opened weak and C lower, and although
the weather was fine and all crop reports
fayorable for large yield, the demand tC
cover shorts and fill speculative orders
from buyers who imagine that there viii
be a squeeze on cash and near futures, and
receipts will soon fall off, sent prices uI
1TI1% ABOVE inside figures. Liter the
decline IN provisions appeared to have
some f9ct on the market for corn, anC
under .avge offerings prices again recedec
about &c, fuctuated and finally rallied
very suddenly just before the close annie
considerable excitement to a point 2
above th9 inside figures reached, due large
ly to liberal freight engagements, anC
closed 1lf91$8c higher than on chang
yesterd4y. Call values we're a trihe better
and thg feeling quite firm, there we're Al
cars rssstvsd to-day, PromiDent receiver
say We may expect light receipt
of corn for a time at least. and this viii
have buIish influence. The shipping
demand continues, and our stocks in stor
are now reduced 10 less than 100000
bushels of No ., part Of which has beel
bought fo- shipment.
For oats there was steadier market
Cash NJ. , sold about the nominal closinj
price Of Yesterday The demand va