New-York tribune., 1884-01-12
LOWER FIG URES AT CHICAGO.
A BIG TUMBLE IN wHEAT-UNCONBIRMED RUMoRS
corn AND PROVISIONS DECLINING.
LEY TELEGRAPH 10 TIE TRBUNEl

A BIG TUMBLE IN wHEAT-UNCONBIRAfED RUMORs
corn AND PROVISIONS DECLINING.
IBY TELEGRAPH TO THE rRIBUVE.I
Chicago, Jan. 11.-Alay wheat closed to- night
at 81 O0li, Just 2 cents bushel under the opening
figure of the morning and pa cents under last nights
close. II terrible day for the wheat bulls" The
big San Francisco specuatOr, who failed there
yesterday for Sl,50O,O0O known personally by
the big traders here especially the Kents He ram it is
said the Grain Call Board at San Francisco, and his fail
ure it was figured would have bad effect on the trade
on the coast The failure had good deal to do with the
weakness at tho outset But It was genuine surprise
when the market dropped straight down cent inside
Of an hour, and the fact that the crowd was
not only surprised unable to find explanation and
was bewildered made the raid easier. As the figures
dropped lower and lower good deal of long ,
wheat upon which stop orders" had been placed,
thrown out Prices fell down fast that IL the gen
era impression that there had been some big failure.
Failures at NewY York were Umored, hut not confirmed.
Failures here there were The quotation Of 81
for MAY was made at about 11.30 a.. III. One hundred
thousand bushels actually sold at this figure, but the
quotation maintained for secondeven when the
sale was made there Of offers Of wheat for May
at 81 OOs The sale made by bear" who has been
making successful raid the for months He believed
that at Yl many "stop orders" would be reached and
that the quotation once made, the amount OF wheat
which would come the market would carry the market
934 cents for February and $1,000 for May
are within l. OF cent Of the low
est OF the day. Besides the California
failure the raid and the false OF failures In
New-York weak markets abroad had something TO do
with to-days bad break. Traders not ready TO
hazard opinions tonight they were last. Captain
Phillips of Cairo, says. 81 am done selling wheat Last
year, after tOuching 9s cents. 1t went TO 81 II.
never made any money selling May under a dollar We
stopped to-day too shipping corn TO this market We've
turned it toward New-0rleans. To day we can get
cents bushel more for It there"
The situation here in wheat indicates that the great
traders ike Kent have ceased 10 sell. They stopped
selling week ago Meanwhile they have been buying
They all the while been increasing their holdings
Tir "scapers" like Ream and Jones, still profess TO be
great bears" large amount Of wheat was sold to-day
the of NewYork operators The restoring OF
Eastbound grain win not OF course act az pull
influence. Nearly $50 600 bushels OF wheat changed
hands on the call to-day. Corn tonight is cent lower
than last night yet at time to-day was the market
weak any more than provisions were although they too
a little lower than tweuty-fOur hours ago May corn
closed tonight at 30 cents Even those VINO were
bears" twenty-four hours ago are now on
the eve OF conversion 10 the "bult' SIDE
Corn and provisions all day long helped
prevent wheat breaking to pieces The fact that
suffered cent and pork twenty cents shows simply
how heavy wheat was. January corn closed at ooSs
cents February at 55s cents, May at 30 cents The re-
oepts we're 4i3 cars 1873 Of which were graded Pork
closed tonight 4 90 for February lard at Ss 10 Tor
February and ribs at - As For this same month pro-
visions were neglected just during the furor
In the wheat pit But provisions just Ike corn were under
the circumstances strong, although they are little lower
than last night. - , ..,,--,- r,
There is now partial grain blockade az this place The
Chicago Milwaukee and st Paul road has informed its
shippers that 1t can find room for no more grain at
Chicago after the grain track has been disposed or
grain say that their St. Paul house Is FULL The Chicago
and Alton has given, or will give, the same notice
There "a s ROOM however for about 100000 bushels
more 600 900 In the Northwestern houses and OOO
600 In the Chicago, Burlington and quincy house.
This room may last another month. ,-.,
Ia there January clique or has gone 10 pecesi
IA asked When Schwartz Dupee set Henry warner 10
telinR so much January Wednesday tho wise
acres put down that the "Jig was up The best opl
be- allowed 20 advance much until January 20.