The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-05-11
CHICAGO SPECULATIVE MARKET.
Speculation Has Been Feverish and Eek.
cited During the Past Week-The
Usual Dodges Employed.
Special to the 6entinel.

CHICAGO May 9.-The speculative markets on
Change during tie past week have been very
feverish and excited, and dials being chiefly in
the way of scalping turns. With war eliminated
from the list OF Influences governing values and
consols cutting no figure. dealers have been en-
deavoring to adapt themselves to the change and
buy and sell grain on its merits The bears, at
the start, were certain wheat abundant
that ii had no value at all if there was going to be
no fighting the other side. They argued that
so much grain had been bought and shipped on
war excitement which must be SOLD for whatever
it would bring that q big decline was likely.
Bliss Parker, B0dman and Cooper talked soc be.
fore the week was out while others declared 75c
about a fair price on the legitimate situation.
The visible supply did not show so large a
decrease as had been expected and forced du mp
Ing on country account, and short selling
by such constitutional bears as Jones, William
hurry aud Weber caused something of sag.
Then q spell OF cold, wet weather gave the crop
killers good chance to expatiate on their pet
bull theory. and indeed the news did come in
gloomy enough, reports being worse than any pre-
viously received. Missouri estimates said the
prospect was the poorest in the history OF the
State, the yield being put at not over 3 per cent.
OF last years crop. Kansas advices said that not
over 10 per cent was expected tn ere while numer-
Gus statsticians out with tables proving that
che whole winter wheat area OF the West would
produce only about 81 Per cent OF That
outsiders themselves took some stock in this talk
seemed to be shown by the unusually heavy bay
ing orders received, and local operators soon con-
cluded the market had been forced TOO low, Be-
SIDES a rally was IN order after the big 'Daacs"
break, and Walker IL Co.. Charlia Clifford and Ed
Drives took LOld for q turn. Anxious shorts
not particularly heavy, the feeling toward the
close was bucyant The bulls claim all that in
now needed 10 cause d materially higher range of
values is a good increase iu exports, anu that
when foreign markets recover from the severe
shock received by the sudden change from the
prospects of a great European they will be-
come liberal buyers on the prospect or Q short
crop here. The recent large increase in specula-
ton keeps our very heavy stocks from pressing
the market and though il must be confessed they
are not yet moving freely toward consumers. il is
argued that the excess of last will nearly
make up for the deficiency OF this.
Corn has ruled very firm Good iud,es believe
that at the present level It is resting its merits
while ii is more thsn possible that certain strong
parties have the whole deal so ''co0pered" that
they can rus h prices up quickly. Lester and Ev-
eYlngham are always in the pit, and while always
apparently favoring decline. they
arc the most eager and prominent
buyers on any soft snots. The shipping demand
continues brisk. and with light receipts, cash lots
sell at premium OF &c over June. The past crop
may have been as was figured on, the largest ever
raised, but nothing has vet been seen of It, and
unless present conditions materially altered
there seema nothing TO prevent corn from doing
better. Lester says every bushel is worth half
dollar on its uerity.
Provisions are dull and lifeless. Holders are
gradually becoming tired and dropping out and
packers fill In their shorts with the stuff thrown
over. Receipts of hogs still large, and foreign
markets are dull and sick as our own. However,
get evened up and outsiders are short it will be
time tn buy