New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-04-05
THE CHICAGO MARKET STILL FALLING
RuMoRs. GOSSIP AND NEUTRALITY-SUSPICIOUS. OF
FINE CROP PROSPECTS.

RUMoRs, GOSSIP AND NEUTRALITY-SUSPICIOUS. OF
FINE CROP PROSPECTS.
CHICAGO. April 4.-The grain market went
I'D and down Ike boat In big The range on May
wheat was cents a buahel aud on May corn cents.
There were rumors Of failures here and reports OF panlcs
abroad There was a terrific time among buyers and
sellers while there little sign Of relief at the close
Traders went home tonight anxious and null Of doubts
and fears On all sides the conviction Is growing that
panic full OF all the dire things which accompany panles
may not be avoided. Wheat to-day at Sl% cents FOR
May and accents for cash looked weaker than the same
grain did months ago Some gossip was started IN
the morning before the opening by the announcement Of
the dissolution OF the firm Of Robert LiRdbloom Co.
The fact that there between the partners differ
ence as 20 policy which compelled dissolution, but Win
the facts not known and with sudden disruption OF
go pay1nuen concern II not surprising that there
thould be some talk This incident huwever, was only
one OF a hafdozen which helped TO make very weak
opening The magnificent spring weather and reports ~
splendid crop progress not the least OF them May
wheat opened e1ctedly at S44 cents about where 1t
closed last night It sold almost Immediately down 70
s33 cents going down along with corn and being In
fuence among other things by the raid on
provisions After pork had touched l6O5 for May
there was a concerted buying by all the great
provision and prices about all the pits reacted
sharply At this time May wheat touched the top ngure
for the day u cent. and for the same month sold
up 53lq But the squirt was snort one. Prices
soon after broke and the lowest figures and
the most threat enng markets FOR the day were
Nessr-. Field LlndIey Co. received private cable.
which they exhibited and which said that the gram Jrade
IN London upon the OF panic and that some
very heavy people we're involved. The private cable
had not been verified 20 the close 81 Change mere out
It had wou effect. 10 fairly threw the market into
panic raised rumOrs Of failure and very possibly dd DO
damage which may not be regaraDle. , -, -. a.,
May wheat topped and fell from 81 q down 70 81
May corn from 53i9 70 81 d Pork. when NAG risen OUT
OF It's little panic OF the morning, thrown down again,
aud the May option sold down 70 st9 % T Th
came reports Of embarTassments. Three very
prominent houses were mentioned BUT there was no
truth in any Of the rumOrs AT 10 o'clock things mad
little recovered but cOrn wheat and produce were IN tne
a Large trade, two and half million bushels OF Whcst
and million bushels OF corn going on the secretary
books. There rally Of full cent In wheat ana OF
ncoriy cent IN corn. me u"u4.E "as
wild and buyers and sellers did not STAND as
they do usually on eighths and e., glar' Tbe
grain market IL an enigma. The old hopes are being
abandoned Those who thought wheat cheap last ecci
Der at ~ ~ and who bought Tor tne Wneh
port trade Tor good and that western IaIneThS neeu
Dsc above 70 cents for No spring at chicago
May pork closed tonight az 1879, stay
Lard AZ 40 The former at one Time Was
down To 1000 the latter down 10 s.32p The
uncertainty az 10 the situation st continues. The buy
ing however IN immense quantities ny the great PACK
ene the cousrvatyss In the view that the clique carry
ing this product Is amply 9Dle 70 hOiH Vhe guuen
and 10 overwAeu the short sellers Inc mes 30 oIh ~ az
exact quantity $4,000 barrels about 100000 Darres
less than iAe stock this time 2t year ~ 10 eohcct
THAI John Cudahy and Mr. PlanknOn could pay Tor tns
product without borrowing Those who In the best
position know declare thst the present break mas Deeh
allowed not engineered for the purpose Of getting IN
vast line Ot shOrtA
The report Of the failure Of Lindbiom q
Co caused much excitement on tho Produce
Exchange yesterday, which WA followed oy
general decline in grain Wheat fell OH from 10 ~
cents bushe corn from L to cent busael and oats
from 10 10 81 OF cent bushe With the decline shippers
fol- more encouraged and there mote OF disposition
" buy for export Al lower pil0oS