The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1885-03-18
CHICAGO SPECULATIVE MARKETS.
The Usual Expedients for Buiiing the Mar
ket Overshadowed by the All-Absorb-
ing Topic of Peace or War on
the Afghan Question.
Special to the Sentinel.

cpeclhl 70 tne centluel
CHICAGO, March H.-War news has been the
feature of the past week IN the speculative mar
kets on Change. The enormous stocks the weather.
decreased acresge-eyerything has been lost sight
of in watching foreign dispatches, aud as these.
during the early days, were of a character which
SCENE to indicate that the Russian
English difficulty might not be settled
easily after all, values advanced
rapidly, and those who took Nat Jones' advice
and sold short" around soc covered at big loss.
Even the chronic bear himself is said to have
"hopped'' and gone long. II this was so he got
csught both ways for towards the close the an
nouncement of arrangements looking ia a settle
ment between the two great powers on the other
side without bloodshed together with liberal real
izing by Billy Murray and other heavy holders.
caused sharp reaction although there still re-
mains liberal gain for the week. Will r. h'cr
growing? is the question operators would like TO
have settled. OF course, predictions in regard to
this, are more than useless; II war Is really
before dollar wheat will be seen again,
and there is no limit to the
difficulties abroad be settled peaceably values
would probably fall back 5@sc. Then the .ques-
ton would be: Is wheat sale because stocks are
larger than ever before, or a purchase because
prices are lower? Backed by the fact that the
acreage is supposed to be much decreased, and the
end OF this month will cause material reduction
in charges for transportion to the seaboard. the
bulls think they have strong case. The bears
base all their hopes on the immense stocks in
sight, and the large supplies still estimated to be
in farmers hands. The increase in the visible
supply this week not up to expectations,
but that contained little encouragement for
holders as the fact that it has not
been footing up big decrease each week for the
past two months is an unheard ofstate of things
Crop damage stories have been put entirely in the
shade by more excitiry news, and, although
number OF sections report the outlook decidedly
unfavorabe, and there are fears OF drOuth in Cali
fornia, operators pay no attention. Now. the gen.
era opinion OF leading traders is that for the pres
ent we shall have very nervous and excited mar.
ket-as one broker expressed it, "a wild deal'-
with prices huctuating sharply as cables favor
war or peace. On such merket scalpers will be
the only winners, and outsiders operating on
small margins will stand good chance OF being
frozen out upon whichever side they invest.
Corn is at a stand-stiil, sympathiZug but little
In either the upward or downward movement of
wheat. There are few who care to sell short in
the present condition of supply and demand, and
the probability that breaking roads and lack of
grain in cribs will prevent any large increase in
have gradually loaded up until they have got
about all they can carry. and are waiting for the
stuff to advance ION Its merits" This makes
trade slow. 1t needs good buying TO boost the
market, and even tnen the large number of little
''Iongs'' who would drop their grain any rise
would make it hard work to get up
much Of boom. Yet the market is
regarded as on more legitimate basis
than any other article and hence is considered
Provisions have ruled quiet and easy. Pork
looks frail, but everybody believes there is a Dig
soon a good force of bears can be induced to
sell. When the crowd talked bullish and believed
prices were going to be marked right uD packers
went short and shook tailers out with dollar
drop Now they in a position to drive shorts
in as soon as it is made worth their while.