New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-08-12
THE CHICAGO MARKETS.
PRICE OF WHEAT wEAK-PoRK OvERsoLD AND ADJ


Icy rELEGRArH To TuE rMarNr.l

fBY TELEGRAPH To THE rIBUNEJ
CHICAGO, Aug. 11.-Last week the situation
about the wheat pit good deal changed Wheat Oi
the September option saturday llsod at 1919 cents
ga cents under the price on SATURDAY the weeA
before A ia cont break after wheat has touched 30
cents for cash Is sensational depreciation. on last
urdav August o. cash No. spring wheat sold down 10
-s4 cents and cash No rod wi ter down 10 s2 cents
Tie latter grade actually changed hands at Liverpool at
81 a. ho lowest price wi hin the recollection Of shippers
ler aad there merchants here who have been snip
piug for thirty-fve years.
week ago 10 looked II wheat was too high There
Wa then half a dozen big blocks hold by traders who
were evidently weary OF their loads. who cd suffered
big losses and who, after making long. stubborn lint
losing aeht were pla ly ready to give u up. They did
rveuup. Beginning with last Monday there W., MT a
DAY thar did not witness the SURF nder Of some big
"bul" not m hour Of trad ng during which some
great load 81 long grain did make it's appearance
o. Increase the akness. and % help lower prices
"sm" Kent threw out what he had Lester what ne
had left Hobbs and Com stock turned ,rlers then the
Inns Finally Baker Friday and saturday, unlodded
lot which had been carried along through all sorts Of
uuavorabe circums and afte- Others hal up
the "0ul side. with tine selling Of Bakers property
pretty nearly the last 1ushel OF his pr ced
h. n nriced IN these da- s-came N the market
The situation T. now favorable fr an advance iu prices
Il decline could nov be engineered D. wou.d ny urlng
oui much more long wheat LOT 10 Is pretty eeueIdy
conceded tHat whatever Long" stuff is held now was
break would be a marvel but, while such break
would excite vast amount OF purchasing !, Is really
Tere Ter purchases Saturday afternoon aggregattng
certainly not less than 100000 or l0O0O00 bushels to
and y,bo as one OF them expressed It, re-
f. be bought safely put away, aud altogether forgot
To- W nSa. - ~, ~ w. 60 800 a.. ~
great market before trader- here could tel In he
=
uarkcs ~ the Worl The recovery ~ wheat Is likely 10
b. very slow The volume Of speculation Is small II al
ways is when prices are s. low. II Will
probably DE SIX months before wheat Is above
81 aui Is that outs ders VIII speculat' very 1T
tle 10 under 81 This Is simply one of the inexplcabe
aKl0ms oil speculative outsider Never operate IN OIL
when 90 Is hv cents barrel; n IL STOCKS When thry
ar abuoum,ly chap, nor In good wheat at eighty
yet cheap unless the prospects change The
weather may keep COO. and frost NAV come too soon
Corn rs iu,t abeui as unc,ran specuatiye quantity
a tulip bulbs be IMPRESSION exists Dere tnaI tieTe Is
ia OF OLD com ei5 ana cdP plenty OF and new n"
mshaps 80 cent- al ogeher too higl for maze when
wleai Is selling at so GEMS, oats lat % and hay is
cA.ap As DIRT There sul plenty sport be wit
messed In he PORK purchasing crowd. The SEPTEMBER
opuou Is badly oversoid q. August was II will 60 to
opening o. speculation IN grain here TODAY natur-
ais moraized by tue f lure Of the Wan Street Ma
yyb., Ieptember W.eat opened at 7ois cents
10 wa. indeed considered evidence Of the staby o.
n, he FAILURE of National Bank depressed only "a
l. 7gas cents August wen a. 7s3s cents. Corn
Vas Affected In about the same degree september
opened at 5Oi2 cents and kept there Provisions adj
Der advanced 30 cents per 100, and lard
sold 20 S740 for the same month
Tue car to-day 6O2 Of corn 463 of wheat and
az 0f oats At the regular close August closed at
5o4 1. and September at sole cents August wheat
oosed At cents and September ~ 792 cents The
receipts" said Mr. Abraham Pooe br Ike the market
Wheat Il lousy cheap but there s total absence
OF outside speculative orders. The whole trade Il OF
scapng order and as the scapers al local traders,
aad as all local traders are constttu-
tiOnal Oears, the market II depressed
rther than advanced The prospect is that.
big professional produce Spectators advance
prices, they VIII decline Outsiders I'm while
prices are low They wait until they are advancing"
The short afternoon session witnessed no important
changes IN values although feeling toe weakest
Of any time during the Gay Lard was not changed at
course was changed. Wheat was Il OF cent 10 wrr
aud so was corn. August wheat closed nj ~ cents
September at 70& cents August cora at 5OSs cents and
september az 90 cents.