New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-20
DECLINE IN THE CHICAGO M4BKETS.
FEELING OF UTEAsINEss YET APPARENT
CHANGES IN PROVISIONS
IBY TELEGRAPH To THE rRrBUNE.l


CHICAGO. May 19.-The feeling in Chicago
at the opening this morning uneasy. Sometimes
said a trader there feeling OF uneasness from fear
that a sharp advance IS TO take place. This morn
ing il IL a feeling OF unelsincss from fear that
break is to come" The bankers on the floor and
were looking after business apparently pretty sharply
There was some talk that country banks were withdraw
u their Chicago balances but bankers did not confirm
this story There indications that any OF the
william Young wheat was coming the market. There
are those who believe that gsGd deal OF It sold last
Frdav but tae better informed traders believe the whole
block still 10 be intact. I'm bull" said scalper
but everybody is watching Wall street. and everybody
is turning dnancer' There Is no knowing what VIII
turn up"
July wheat opened at 9Ol cents and dropped to soli
cents. July corn began at 575s ami fell L Of
a cent. Pork was at 81 5o0S17 47l9 for
July. and lard got down 10 - 20 for the same
month Cables were uon-commttaL Grain carriers were
PUT 70 great straits saturday by the savage calls OF
SOME of the banks Two three Of these professionals
were running around among Offices On Saturday after
noon asking commission houses with money to carry the
Grain for them. good deal Of wheat was sold on
saturday on which loans had been called.
but the market was not IN shape 90 take
much Of a load without suffering a decline.
In a clubhouse Yesterday commission nan criticised
tbis couduct OF the banks ignorant and likely 70
hcp along panic. cashier who sat n tie parry de-
MED that there any calling OF loans. just tlen IN
walked the cashiers superior officer Can get $500
600 in wheat with 10 per cent margin = asked the
critic We're not lending money on wheat except
70 oi,r customer" said the official This calling process
bean because tue banks began to feel tmd ana rather
nave Inc cash IN their vaults than any kind OF security.
" r. Baker said: There Is no trouble raising money on
,vheot hit some Of the brokers, Ike Esgles0n sand
D@yil Dows IL CO.. have money borrowed al per cent,
and nave probably been asked II they want to pay the
current rate However, they can get all they want The
pro IN carrying wheat the rest OF the nlDnu Is equY1
lent 10 nearly 20 per cent on the money"
An immense business in changes was done about the
provision pit and almost altogether IN ard one con
corn Homes & Raymond, thrown INTO panic ny ihc
0civsrv to il OF lot Of cash lard year contetS me
mariner in the pit made laughing stock or hmset Dy
selling II all 0ut tor Julvpayng 80 cents carryn Ghrgs
the heaviest probably ever paid IN TINS market lie PAID
- reurs more than there any necessity Tor some
- scolpcrs took advantage Of this decentralization
ana hed ont profit OF 500 every 200 tlerces ty
cIor red ono scalpor made $1,000 m forty minutes,
without taking peunys risk, Ia TIE gram pl!s me
@ M Iifte snort corn In wheat nothing done
fayc making some changes from June TO July Al Al
o'.IorE Tune wheat stopped ar o72 cents jay NJ SIS
conts lime corn closed So cents, aud July at o. =
conts JuIv pork closed at ~ 40 July lard al - ~
mr. acents were 20 OF wheat ls4 o. corn aud -o9