New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-01-19
A FALLING MARKET IN CHICAGO.
VIEWS OF PROMINENT OPERATORS on THE FUTURE
OF WHEAT AND CORN.
lBr TELEGRAPH TO TIE TRIBUNE. ]


tBT TELEGRAPH TO TIE TRIBUyE.I
CHICAGO, Jan 1S.-The feeling tonight here
in produce s "panicky with wheat for May at 90 cents
lowest figures yet reached Some OF the largest local
operators asked their views this grain market at
these figures "For two years." said Norman B. Ream,
81 have believed that the farmers overproducing
wheat traded this view of the situation year ago.
but made money Of the theory until this year.
put no credence In the first place IN the old wheat
IL cheap at q dollar II may be low at dollar and yet
dear the farmers by Just such old rules High
prices OF wheat three years greatly stimulated
the production. There enormous crop last year
The farmers however free sellers because they
thought the price too low This year getting at
all the wheat the surplus OF two years harvest
Even next year I believe If we have a small crop
whoever bulls the price OF wheat will
be ruined for the low prices now viii
cause the farmers and holders TO lock up their gram
There three four been seasons Of de-
preston IN cotton in coffee and In other staples. The
season Of depression has for grain. The price Ia
s altogether too high It ought to be least low
ninety cents for May wheat think thereis good deal
Of truth In what is said Of the shortage in the corn
crop, but / bslieve that this has been offset
There s an enormous hay crop, enormous
potato CROP an enormous and barley crop. There Is
besides end Of bad too bad to send to market put
good enough 10 feed stock All these things VIII be te
in stock and the result VIII be that there will be no pac
teal shortage In coTn not enough to enhance the prices
any way" ooo ooo 81, -Aoo. - A., q, so,. 1oh
Cudahy OF Cudahy Stevens who Is said TO have made
over 81 900 600 IN wheat and pork since last June and
market would not go up, could not be pushed up
and could not sustained sold 1t all out. Wheat
| lower doubt whether it will be purchase make
money Of May wheat at ninety cents will take long
but it looks wheat would drag It down some"
II can see no good in oU what SAID Nat Jones
say that It Is above tts letgimate value
believe corn viii go 90 cents for May There is too
! q
N G.. Miller, OF York Lindblom's partner, says;
Corn think will go to 40 cents before May. would
much rather sell it than wheat now, although don't feel
strong the latter"
Arthur orr, OF Irwin, Orr & Co., said The
best men the trade sellers tonight at the bottom
figures The market opened this morning weak and at
ions declined until al had reached low points as had
been reached any time in the decline. Then there
96Q up to 97 cents, May corn from Dos up to 5s
cents February PORK gent r. sd d4 nS & Sne
due to reports OF weather in the country,
ports Of better feeling in IN stocks and grain
aud apparently good buying here OF both wheat and
corn The top figures were reached about noon Suddenly
an kinds Of panieky rumOrs from the stock Exchange
aud the Of OF the best known banking concerns
In the country sent over half dozen different pri
vate wires with the announcement that 1t was being
! talked about.
NJ ! O'Clock On the call 100000 bushels Of wheat
changed hands IN twenty minutes at that kept all
was selling al 9Gle cents May corn at 57 cents There
were only 81 of wheat received to-day but small
were 379 OF received Of which 100 graded No
/ 2. There only $4,000 hogs al the yards,
but the packers were not buyers and prices
vent down 20 cents.
The star FOwlers IS still In the ascendant They
were a month ago fighting the corn clique with all their
energy Now ii is said that the concern is out OF corn
with great profit in its pocket. fortnight ago there
was not Chicago man in NewYOrk who was not fighting
to rob Jack stugs OF the credit OF organizing great
cl0ue to bull corn. Now there Is not Chicago man
In New York who will admit that he had bushe OF
long corn. They all unanimous now that sturgs
was the only man who had clique or was "long" any
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