New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-11-07
FEATURES or TIE CHICAGO MlRKErs.

A DECLINE FOLLOWED BY RAPID ADVANCE ~
wHEAr-sNIALL ADVANCE IN CORN.
CHICAGO, Nov. 6.-Wheat acted this morning
"a II there was be a reaction from the busnness Of
the last week OF two The figures started a le under
last nights close and declined lsal2 cent These were
the yigns which all the bear" operators here had been
waiting for; they had been forctellng the eud OF tho
bull" boom It had come they all thought; and
straightway they all became sellers In very littlo
while this helped tue dOwu-hll movement along; bUG
only for little while Somebody received private cable
dispatch saying that wheat shilling higher in Liver
pool This settled the decline and shattered the hopes Of
tho "bear-." In twinklmg the dowI-hil
movement stopped, and the course
OF prices turned. An advance began. and
never stopped until, the curb at night January
was selling at 99as ccnts-more than cents above the
lowest figure of the day and nearly cents above last
nights close.
The foreign cable dispatches threw the sellers of the
early morning into little panic. From putting out
lines they turned about and began buying them
back with double eageness Wheat would have advanced
without this scramble from shorts, II, however sent
mp prices faster than they would have gone wthout,
and further This plain enough at late hour, for
there was little reaction onhe curb. The January
option, which had gone TO $685. dropped back
and closed at 90 There Cali Board,
and the regular clons of the day the ones made
on the regular board o'clock. These were: For No
yember 80 cents, December 97A, January 9sA, May
1853 The last figures the curb were a. stated above,
g a. 4 Of a cent higher.
The trading continues 10 he without especial incident
M character Up to the middle of last week there
ques here and crowds they not heard Of any longer
The Kent crowd, which began this "buu' movement Is
believed 10 wrong just II got left After reaz
inc upon the purchases Of wheat which were made almost
t the lowest figure OF year, It is believed have
tetuptcd D. large sales 10 dcpres- prices preparatory 70
selling under wheat again. The prices did not 90 down.
Sid" Kent IS reported to be waiting FOR reaction.
The Tcso party composed OF smith Spence, and Trego
and Others with money i believed to be maintaining tho
same attitude. Rcm and his followers have been
wrong hut all the old combinations have been lost amid
the host other buyers and sellers who have rushed IN
here since the boom ia wheat set in.
There has been" said Mr. Adams, OF Mccormick,
Adams Co.. great increase in the orders from tho
outside and these orders have been 10 buy.
The public is under wheat; and whether
there are cligucS under it too, or on TOP OF II,
makes no difference. The advance Is natural and safe,
and nothing can stop il. Wheat has been unnauTally
low The feeling ON this side is improving The public,
iudciu from the orders believes in wheat The foreign
markets will improve with they have begun TO
ALREADY Wheat has now advanced a little over cents,
and as il always the there are people taking 0fa
reaction There may be decline II is as likely as not
10 occur but the opinion here is That the bears have
finished their inning; that the bulls are to have
their day. A month ago the commission men who sent
ont advccs were almost unanimously OF the opinion that
wheat VIE. too low, but was a good sale for urn'
few who sold then have made money; good many,
however. are losers tonight Meanwhile the men VINO
advised 10 sell for n turn have become fewer few
months ago the market utterly weak aud specu-
,tor4 were 80 unanimously the bear side, that selling
soemed safe Almost all the conditions changed now,
however There Is a. much unanhnty the bull side az
there WAS then on the bear 1t Is apparently now as
nro,nsiug 10 90 long a. il was then TO 20 snort
Yeste day to-day have been looked forward 10 oy
dneuoulcut 'bsars for half week Is the days upon
}b If ar an they wern tn make their escape They
yer, 10 be- The days large receipts and low prices Mon
dv there was an advance of cent to-day an advance Of
y cents. ,,-,.. A.. ,,,.,.- s,,,
hours ago. II Is now within n fraction OF
10 cents The inspectors Wport shows thai
the ocal stoc of corn has decreased 6OO0OO bushels this
week Thrrr itc only 100000 bushels OF TINS
rain here and only 100000 Of contract grades. 10
would probably advance faster than does II II were not
for the excitement wheat which has distracted aten-
tion from corn The situation Is strong November
rlnsed al 1919, December AZ isA, May M 3ON
There was slight increase in the local stocks OF wheat
and oats during the weak. -.
Provisions were s,rong, despite the fact that there
were 81 900 hogs the yards Live hogs even advanced
November ribs closed SO 122; lard closed almost ex-
acty II did Monday pork, pig cents barrel lower