New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-02-05
DEALINGS IN WHEAT AND CORN.
MONEY PLENTY AT . PER CENT-ADvANcE IN PRO-
VISIONS
rBr TELEGRAPH TO THE TRIBUSE.l

VISIONS.
lBT TELEGRAPH TO THE TRIBUSE.l
CHICAGO, Feb. 4.-Money at the banks here is
going begging at per cent This is likely to figure
in the speculative Market indeed it Is already cutting
great figure 81 account Tor the strength In wheat said
operator to-day altogether by the fact that strong
have been induced by the cheapness of money to in
vest in It, For instance believe that Hutchinson has
good deal In corn and that Kent has good deal In
wheat. / should not wonder II there was some
truth IN the story that Philip Armour was interested
with Kent in wheat not in DEAL but In the invest
men Ordinarily It Is axiom that packers, even the
biggest OF them. must attend strictly TO bust
ness in the packing season, and have no
money to spare for outside speciaties. This year,
however, exception There nearly 10000 bar
res less pork ia stock than year 10000 barrels
less years ago. II the pork Is reduced TO meats
there s actually shortage Of 40 100000 pounds from the
stock here last year this month; and shortage Of
20 OOO00 pounds compared with this month two years
ago. aOney Il cheap because thlrd OF Jhe snaII pach
ing houses closed and because all the others are run
ming with reduced Forces ana because TINS winter season
the receipts OF hogs this point have been 100000
under receipts in the same time in 1854 bad and
1t fact that all the large banks have men on change
TO get borrowers Aler0n Gays; In the pacIng ware
houses through which is usually difficult 10 walk, you
now drive in and turn around coach and four "
the $4,000 barrels Of pork in store here Armour Is be
lieved TO hold nearly twOthrds and Hutchinson nearly
third Provisions for week have led everything else
Change IN interest They continued TO lead to-day
gan 1t an advance of % cents barrel and by
going ST. 80, When the quotation was at Sl1 80
NAT" Jones sold lot Of 5000 barrels to Baldwin at
81 27la and then offered 10000 barrels more at the
same figure Joness sales scared nobody.
The price. after some fluctuations mounted 10 S17 AZ
The close s17 42 The recent rapid advance s due
mainly to the disclosures Of the last delivery day Pork
lard and ribs did not 90 around" From this 1t was
concluded that the packers who have is pretty certainly
out They have been sellers, but have been buyers
on gautic scale The brokers In cash stun who have
been declaring a month that they compelled to
telegraph to country packers TO I'LL orders, ana who
teem Furthermore, those people who are near enough
to the bank officials get little " this confidence de-
clare that Armour has been an enormous borrower
Of time money" and shake their heads at
customers who express desire to 20 short"
OF pork. Armour Is not borrowing money
10 interest H. they say end this proposition Is so
OF the INN edite specuatlVe lnHIeIce are lhe legitimate
ones OF priced and poor corn and few and high priced
hogs PORK barrels easily counted Gays trader
"snOrt ribs easily L2nIed Inc Abolition OF the cor
npr rule has 80 far been great thing for the bears II has
never yet Of any service to the nanpuatoFs Nat
IoDes and his fellow scapcrs have had their inning"
Lard and rims followed IN the wake Of pork. The latter
always leads in any speculative excitement Lard, how
ever Is increasing its pace In advancing. The May
ontiOn closed saturday night at 20 37l2 opened
this morning at 50 81 and sold as high
dav OF 20 cents per hundred, IS cents per erce.
Nav lard closed 80 10 Wheat and corn were dune-
Clerted because the rapid advance about the provision
pit made much more attractive place th2n any OF
The grain crowds. Both AMI wheat got some little
strength from the enthusiasm which existed among the
BUYERS OF pork May wheat opened at 80 cents an
advance Of % OF cent and after some gol as
high as 9gl cents. 1t closed az 99ls cents. May corn
opened advance OF L Of cont at 0s5s cents, and
advanced to 5so cents. There were 511 cars OF ths
gram received. OF which 2Os graded No. 2 May oats
large buyer Jones led the market for 100000 bushels OF
June oats without finding taker.