New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-02-08
4 PANIC AMONG CHICAGO SHORTS.
PRICES IN GRAIN AND PROVISIONS RISE AND THEN
sUBsIDE.
IBr TELEGRAPH TO THE TRIBUNE


sUBsIDE.
TBY TELEGRAPH THE TRIBUSEl
CHICAGO, Feb lis the wheat deal over, or
has It only begun' Privileges tonight are about an
equal distance the market This is practical way
that the alley traders have Of showing that they are
mixed up over the situation The wheat market land 10
led all tie others) opened this morning with
the shorts IN a panic, the countrymen, or
such OF them as were trading, buying, with tho
big traders selling. One commission man who lefo
word at his office for wholesale calling
Of margins from those who were short" wheat on his
books upon reaching the pit and observing the SITUATION
sent message post haste TO his office cOunernanding
the "cal" "The market will break" he sad "et tho
shorts alone" For long while wheat refused to break
The May option advanced further than it did yesterday,
and touched II Obs At the very top the country traders
were more than TO get in but they found no
trouble neither did the shorts In covering
The price OF wheat then began slide down II went
to 81 0O and back again 10 81 o. Before the close tho
situation for the day became palmer. The nervous
shorts" by paying big price, had got their property
back The countrymen and other outsiders got what they
wanted too There still plenty for SALE The excite
ment subsidized and the figures declined Both Jones iad
Ream were large sellers Jones sold himself ana brokers
give up the name OF his concern, Eldredge q Go.
great deal Of selling occurred toward o'clock, and the
May option got as low 81 004. On the CALL however,
there was no heavy selling, and Jones was apparently
anxious TO buy May advanced from 81 ool9 in bids 70
q OO7 and closed there with plenty Of bidders on inc
sIey II went later at 81 00. Wheat was al. day-or az
any rate during the tine OF the most active tradng-a-
together under speculative influences. II went
among the shorts; not because there
was announced big decrease IN the visible supply when
The break came prices went down because the shQts
were filed up and there for sale than out sdes
wanted: not because the weather over the
winter wheat district reported mOdcratlng. The
food certainly bad IN the ohio Valley Dut the ine
curry AZ Kansas City creeping up There was htile
choice SO far things concerned between the
| bull" and bear side. - ,---,.. .
Nav corn sold W to-day 10 60c but the receipts were
Az cars of which los graded. "The receipts say the
corn bulls are 50 large there IS practically No
corn being crbbed in the country Inc FARMERS aro
! uncertain about the keeping quality OF their
| ram. and are sending it forward. Money s
III per cent here in Chicago and the country deposits M
creasng rather than decreasing at me cry DaA
Of this failure &c crib aud the failure III he LOG
Corn early in the day, under the influence OF Huea
and ADVANCED Then the Teceil Is were posted ana II was
fouud that they were large Corn became weak not oy
itself but helped along the feeDng aD9nt the WILT Ply
which by this time, had become nttle peilsn Voo;
| pba dis1a,ches from Mr. Walker at NewfOrk showed
MAJ there had, according TO MS nguIlnE, DSen
"a 90 600 bushels In the vislbly supply oi sIs
atr With 4]7 cars OF on the track OF "nch 10
rjed No 2 aud with aD increase OF so large euaully
6f corn In sight, il needed no eNaOIuih1lt 800 "
49, 80 ,rlca ON the call Hobbs aud JOnn huuiscy
YER large sellers and May closed at 39's' seer'
About the provision lit there app, aIed W DO 1I'
san-e condition OF affairs as Ia the gram W.
M bg, traders were sellers. The tOwlefs appeal "a 20 70
htd,s the nrica of lard while brokers were sellhS ho
pI nd Rooson were the largest sellers OI pOi A. "a
oci of tbe March option. May pork sofa up u -
-. dyvn 10 ar So Iclosed at Sl7 622 May dai 9oi"
o. e az anG down 10 80 So Iclosed al - 50 esS - >