New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-08-24
THE TRADE IN CHICAGO.

CHICAGO, Aug. % Especial. Wheat and
corn yesterday did not got than Il away from
the close Friday. aud pork not more than ia cents
FOR an hour after the opening. There good effort
20 prices but ~ did work. Then thcro settled
down great feeling Of weakness Because there had
been 80 much covering Friday. aud especially be-
cause II known that Ream was preparing TO draw
out OF the market for awhile traders made up their
minds that II anything msdo 1t would
have 90 bo tho selling side. Tho break
In wheat was started by large sales
by the Friey Carter company. Deutch Fraley's Chi
cac PARTNER sold at least 100000 bushels In the morn
ing Baxter and W. T. Baker & Go. were sellers.
too on a large scale. TheNew York d" bears did what
nte they could to help deprrss prices here and olse
where aud posted 1900 bushels out OF condition
Nobody here knew 10 which lot Of recently posted New
York grain this lot OF bushels belonged, but one
5000 bushol lot Of bad wheat IA supposed by traders
here shipped around from one Brooklyn warehouse
TO another AT least i've separate and distinct occa-
slOns. -
came over almost body ami helped IL down toward
~ cents It Is figured that the stock OF regular lard
here nov about 10000 erees against 1000 tierces
tsinber l there will be only 10000 tlerces here
OF hs the stock IL figured at abolt3 900 900 pounds.
against 81 100000 pounds three weeks ago. There
is" said Uric King this morning. "an enormous short
Interest In provisions aud believe that rmour IS
quietly moving preparing to move pork. IL that Il
done aud u monthly statement Oh September l
or october should show big decrease there
would he a bad squeeze OF shorts"
There was rumbing all day long about the pit.
Hami and Brine aud LndbOm were sellers IN the carly
morning aud the market seemed DO bolstered for
while but the break at last aud then cora ddnt
atm until 10 had dropped y Everybody thought
t loo hig." said "Chnroy" Morse but everybody has
been afraid TO sell IT,"
Ills NOT easy TO tell what will happen around the pork
pit for next fortnight Perhaps there may be ire
mendous rading" that viii send pork down dollar
or 40 but when the fortnight has passed IL Is certain
that there Will be just as sharp " bullng.
Packers generally must kill on declining
market This would not hold true OF Armour Hutch
nson or OF the others, but IL would OF the twenty
or thirty other big houses at the yards They do not
dare 10 upon tho manufacture OF millions OF dol
lars worth OF product unless they can sell their producer
| I'M adyan aud can buy their hogs on descending
scale SO from time immemoral II Las been the prac-
toe OF the rich Chicago packers 20 combine 70 advance
The market I'm October aud then combine TO depress In
November and December This practice has made tho
hacking trade nc Chicago the sure thing that always
las been, has made millions Tor Armour, Kent.
Uuchnson Allerton, Botsford, and oil the othes IL Is
NOT likely that the practice will be abandoned this year
AZ o'clock market closed followsi September
wheat sole October, S2a cents and November,
sIoa sls ceHtA September corn, AN cents October,
40 cents; and November, 392 cents September pork
"a "a. october Ss 65 and November s. 62la Septen-
her lard 80 October SO 20j and November 20 2is
Septrmber oats, "a cents May, 2oia cents eepteln
bur ribs, 50 32L2.