The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-04-06
CHICAGO SPECULATIVE MARKETS.
Prices Down TO About the Figures Prevail
ing Before War RumOrs Sent Them Up
varying From 20 to see.
Special 70 the Sentinel.

CHICAGO, April On Change during the past
week the speculative markets have ruled nervous
and excited, but except toward the close when q
few big operators took hand the trade has been
essentially scalpers deal. Prices were on a see-
saw and the number of times the market has
travelled the ground from 20 10 SIC is go large
that the path has become hard and well trodden,
and the feet OF the spectators slip back and forth
very easily. The rise and fall OF consols is still
watched very closely, but the general situation
may now be teid to be not materially different
from what it was before war tslk suddenly took
possession o. the minds of traders except that the
time when the true condition Of the next crop OF
winter wheat viii be known is so much nearer.
The period for "scare" stories has passed aud
those who are basing their trades on this festure
are determined TO keep in position until the facts
come out. So Ear reports from the districts where
damage is most feared have not been at all re.
assuring 10 shorts and should the injury de-
crease the yield about one hall, as some advces
low claim 1t will, a stampede and sharp bulge
will doubtless result. Otherwise the more con-
servative traders seem inclined to favor the bear
side. Is true there was decrease in the visible
supply THIS week, but it was SO small in compari.
sen with the depletion that must take place If
stocks are reduced TO any ordinary limits before
next harvest that il had little effect on values II
is supposed 10 be tho entering wedge, but that is
about ALL Still, while the crowd are generally
sellers and the heavy ''short" interest is muel
scattered 1t is TO be noted that the huyng lately
has been in good-sized blocks, and the "loug"
OF few of the strongest men here, such as sid
Kent, "old Hutch" Phil Armour. Leo.
pold Bloom and J. h. kammessr.
usually stay for good profit and
whenever May has gone below soc their brokers
have taken everything offered for that delivery as
well for June. This may later attract an out.
side trade, and should a good speculative fever
once take possession OF the pit large stocks would
be lost sight OF in no time This would be espe-
cially favored at present by the fact that the
port demand seems developing into something
more substantial than a shadow, and che opening
OF navigation is at hand, when the large quanti-
Again, the most vigorous bears are not talking OF
anything below 75c for May. while the bull ele.
ment think wheat at soc would be cheap
Corn has been badly neglected. business on
many Gays being scarcely sufficient to establish
quotations. Receipts as yet show material iu-
crease, while every day brings the time nearer
when farmers and teams must be- other
wise employed The abundance OF the grain. too
ana the severe winter has induced
free use of it as feed and fuel, that many shop
men 90 not believe there Is as much IN the cOun-
try now as traders are figuring Tae con-
sumpttve demand con tinues brisk at steady rates,
but the probability is that the speculative market
will slowly drag along about an even keel until
the excitement in wheat has died out some What,
and few prominent men quietly get into corn on
one side or the other and make I'D the trade.
Cables quote steady markets abroad with brisk
demand and few lots Offering.
Provisions have been more active, but packers as
yet do not seem at all averse TO lower prices and
slumpy market encourages the boys to sell
Many shrewd heads, however, predict that the
Gay OF settlement is not far off, Stocks OF product
are considered large, but when it IS remembered
this year than last 1T must be confessed that the
stuff has gone OFF remarkably well. Pork Is OF
course the fayorlte article but lard is receiving
good deal of attention lately and business in it IS
about as large as at any time since the famous Nc
Geoch deal paralyzed the trade