The Indiana State sentinel., 1885-06-03
CHICAGO SPECULATORs.
The Bears HOLD bigh Carnival-Lamb
and GTsDgers Shaken Out-The Mar
bet DOWn-OOrn PIentifaI.
Special to the Sentinel.


CHICAGO May SO.-The bears have held high
carnival in the wheat pit on Change this week.
At the start Leopold Bloom, McGeoch, Jones,
Plsnking on and other large professional operators
went in to shake down" the market and shake
out weak holders. Countrymen have always been
'lambs" ior the speculative wolves, and, a.
though this time relying upon their own know
edge of the growing crops they had evidently
come in determined to stay. The idea of an ad-
+. Tance carrying up a lot OF grangers was not
relished by the crowd. The plan of course
was to pound until the country let go and
then get from on top to a position under the mar
ket. 90 local dealers sold aud sold and the seal
pers quickly taking the cue joined in. The unex-
pected increase in the visible supply furnished g
sledge-hammer and they used 1t vigorously and
efectuslIy. Holders had got accustomed to big
stocks but that farmers deliveries the last OF NAY
SHOULD & cee1 shipments and CONSUMPTION stag-
supply not by any means as small as had besn
figured on. Prices declined steadily, each DAYS
.nsnty-lo1r nouTs before. The bears jumped on
marked. rolled il with a steam road roller"
Pill at tie close TO night the feeling is better
than 81 suy time IN weeks. and il Is noticed that
j. IequiIes constans pressure TO Keep the market
down All artificial props are breaking. Wheat
Is nearing shipping Uasit and everybody wants
10 De The nrs 70 catch on the bottom, was the
explanation Of a broEer when asked the cause Re
ports HE seabOard say that the ex oort demand
Is PICK ng up, aud kansdt adyices declare toe ra.s.
bOpIeTs ae deVOnring everything green III the
Sts te- Outside operators 90. VINO Supposed
10 be eycTla tIugly frozen have turned uD
smiling. snd are free buye-s, apparently proving
<hat the bulk OF the sIain ,Oii was "shOft' wheat
The crop Is split right in two in the middle
REMARKED Ros che to-day Its leo 900 0l0 bushels
snort. How far will surplus OF $4,000 eco 60 to.
ward filing Up the deHciency?'
"ATEuments favor the bnils, said another deal
ers "but there Is that 20, 600 of whept which
nobody wants, and for the present 1t viii knock
theory"
'Wuat does Lester pr0Lose doing with corn?' is
what hsders IN the yellow cereal would ike TO
learn. The crowd has s)ld more confidently this
week in the expectation OF larger receipts In
deed, the grain Is coming in very freely now, but
many conservatives believe it a temporary rush
started to iii May gales and meet the supposed
corner. On this theory big falling off is pre-
d1cted directly after June ], leaving holders of
June ano July winners Hence short sellers are
wary and there Is desire 70 oversell the marKet
while conditions for 3 deal 50 tenn ptIng Still,
"a road men are beginning talk of large quanti-
ues OF corn discovered in Nebraska
Pr0yislons after a steady day have firmed mp q
trife, but Armour and his crowd are still short,
and no permanent Improvement Is expected until
the June run OF hogs is over Receipts are now
larger, but only what might be expected from the
immense corn croD. Product will, in former
years, decline 70 point where capital will take
mold and give II twist that will make the heads
OF the shorts swim.