New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-11-01
FEATURES OF THE CHICAGO MARKETS.
. DECLINE IN WHEAT AND CoRN-EFFECTs OF
NEWS FROM EUROPE.
IBY TELEGRAPH TO THE TRIBUYE.l


CHICAGO, Oct. 31.-The signs last night of
decline wheat borne out the session along
The popular theory last night that Sid Kent had
sold his wheat and that the crowd" was loaded up
This theory not abandoned but rather strengthened
to-day The closing prices the lowest quoted and
were full cent under those of twenyour hours ago.
McGeoch was a big seller to-day of wheat. Inasmuch as
the scotcman divides his office with A. f. Kent Sid :"
Kents brother and 1t very generally believed that
the present wheat operations these two brothers
are partners. McGeochs sales by some re-
garded as significant. He probably sold more
wheat this morning than any other single concern
At the Same time, 1t is said he buying oats. Has
sid " Kent sold all his wheat Nobody can tell this
except Mr. Kent himself and he is not likely to- 1t not
probable that he has entirely sold out. There is really
good reason to say that Mr. Kent feels buish on
wheat like other conservative spectators, he does
not expect the prices to go right straight up.
Brokers here, who claim no inside information to
Kents plans Those who DO are not TO believed but
who in good positions to know generally his attitude
III the market say that they believe his programme will
be something like this If he continues his operations in
wheat he will probably speculate slow advance, buy
ing breaks and selling much possible bulges.
failure in the grain trade was reported at Metz in
Germany, to-day. 1t led the "bears." who have been
making point of the very depressed condition OF the
market abroad 10 shake their heads knowingly and de-
clare emphaticallv that the European situation over
Swallowed everything elsc and that long there
for here. Commission men wlh not " bears" VINO
have not been "bears,' are really very much
disturbed by the recent great failures abroad,
and half ready 10 admit that perhaps
the distress abroad may upset the Improvement
in the situation which beginning here. II also
reported that the stock Of wheat AT Liverpool had de-
creased atterly but, Offset to the from Metz
furnished by the bears the Liverpool item counted for
very little. GAYLORD e. Smith. Adams Brothers traders.
bought about 100000 bushels of wheat the call to-
night. That the Adamses alone hig buyers. and that
McGeoch big seller, the principal for
the weak feeling at night Wheat closed at the lowest
figure of the day November nj 92ia, December 943s,
January AT 95. May AZ lO2l2 Orders from the outside
were very few. The quarrel for ascendancy was
altogether between local dealers. Puts and ca lis /"
were selling only 10 cent away from the market II is
thought chat O-nOTows quotations will be rather steady
at a little lower level than today
Corn was exceptionally dun. The movement mp and
down was wit hin y cent and the volume of trading
small The close tonight d cent only under yes
terdays. This grain believed by all to be dangerous
sale and by many to lac pretty safe purchase October
and November stopped AZ 400, May AZ 1873.
McGc0ch's purchases of today kept them steady.
They closed only Is cent under last night
Provisions steady, considering that 10000 hogs
reported at the yards. and prices there were 10 10
cents lower The in pork within 10 cents and
in lard and ribs within 2l2 cents November pork closed
al SO l7l2. January at $40 92l2; November lard at
81 12lQ January at 81 %; November ribs at - 81
January al 50 30.