New-York tribune., 1884-01-22
4 REACTION IN THE CHICAGO MiRKETs.
A BETTER FEELING MANIFEsTED-EFFECr OF TIE
CHANGE OF THE "BULLs' AND "BEARs.'
my TELEGRAPH To THE TRIBTNvI

BETTER FEELING MANIFEsTED-EFFECr OF TIE
CHANGE oN THE BULLS AND "BEARs.'
lDY TELEGRAPH TO THE TmBrNrl
CHICAGO, Jan. 21.-It looks tonight as If
there was coming IA this market reaction May wheat
for instance IS selling tonight the curb al % cents al
though closed the call 96 cents and sold at ono
time to-day as low 957s cents May corn l. going at
57l cents bid 80 cents sellers although this forenoon it
was as low as 81 cents and sold last Saturday at 565s
cents
1T looks says Iindbom II there 10 be better
markets The feeling toni.h Is strong think there Is
to be a reaction" Barring New-York panic" said u
large trader this morning "this market Will
from this on continue on an up grade This said
shortly after the opening this forenoon, and after wheat
had advanced and corn too, l. cent busheand lille pro-
visions were exhibiting great deal OF strength. The
alarm over the Gulon failure, which had disturbed tho
calculations on Saturday night. bah apparently subsded
The liabilities had been cut down and the resssurug
nouncement had abroad that the failure had been
anticipated for the last years The spectators, big
and little had had nights sleep in which 10 modify
their last weeks views.
These were the conditions under which
the market opened this morning. The feeling
was certainly better at the opening than at tha
close last week There AZ tie start litle opposition
to the advance u prices which begun Things were
going along swimnngy when attention was distracted
and the good temper Of the bulls fairly destroyed ny
the figures which bciuG posted on the stock black
boards IN the Offices Baker OF Lester and Of the other
concerns which DO a stock Exchange business. II was
apparent to everybody who watched these New-YOrk
quotations that however improved the speculative
feeling might be here, it only growing worse in
New-York Al this point the produce bears who were
on the point or being converted and the produce bears
who had been converted and the "bulls whose fdlth
had been revived all rcldpsed The bears Weht DHcAt ~
their old doctrine the bulls became a. dt,pOndent,
almost as dc- q IN A ever
Tue ralders" were not as defiant tEis afternoon.
There were times this forenoon, while the NtwIoIk
Stock Exchange quotations were ~ Their lowest, and
while Northern Pacific ana s. Paul were apparently
going 10 pieces when the "pca's mere IeII
exutant and when there was something
Ike last weeks selling Il did not last
long Rcan was buyer OF wheat and So were
the lowest -ure, began buying back I'D the afternoon
Lester too II said had wadcd ashore. These signs
The one weak feature tonight l. that nearly the whole
crowd talk "bulsh" There has been a revival among
the spectators here within the last twenty io2i nolrs
how many OF the converts Viii h uhe next
twenty-four hours prove DacA,liders remains
to be seen. The grain receipts were small.
This was the first d" bullish influence lheIe
were only 90 cars Of wheat and 5li ears n corn OF
these latter large proportion. however 49, were
graded No 2 II has been figured that there was large
amount OF corn headed this way the railroad tracks
started a tong while To al mp the whilom January
clique this was believed that ne receipts
were 300 than this estimated figure encouraged
holders receipts, II Is conceded may be large To-
morrow but from then 10 the end OF the month Is
predicted generally that tue receipts OF corn VI" Do
moderate ,. M, .
beg ming talk the big figures that were on most
ton rlss a month ago. The conservatives, however, are
OF the opinion that whenever the advance comes X VIII DC
slow aud unattended by Yiclssitudes Vl-lons
were strong and closed February pork az elf 80 and
February lard al 20. There only ltooO boSs at
the yards and prices there were 10 cents hSh, Al tle
hackers Fowler Brothers and Armour leading were Big
but and uuGemOustrative buyers lhcl apparently
wanted get the product without advancing te PIcT'