The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1885-05-27
CHICAGO SPECULATIVE MARKETS.
Corn the Feature of the Weeks Dealings-
A Material Gain Registered-Wheat
Fluctuations Confiaed to
Narrow Limits.
Special 10 the Sentinel.

CHICAGO, May % The excitement OF the week
on 'Cnange has center1d in the corn pit This
cereal has kept steadily ON the grade and regis
tered material gain. The philosophical b
WHO SOLD corn and who bad plenty Of arguments
to prove that Lester would never run corner still
have their arguments, but getting decidedly
nervous and are by no means "a certain OF their
position as they were ten days ago. GOssips
who pretend to know all about the inside
facts now claim that the deal IS fixed; that
worthiDgton and Norton have taken care OF all
the cash grain as it arrived. aud that Lester and
Baxter have bought the options. The fact Is,
however that if the alleged Clique have worked to
blind the boys, they have succeeded admirably,
for IL is safe TO say that not even the brokers who
Lester 4 Co. really stand ON the market. Lester
has bought heavily and so has Baxter, and then
sgain they have both appeared anxious sellers for
al deliveries, as well as buyers OF June and sellers
OF July. Stocks, however light that IL there
Is any kind Of short interest out il would not
surprise many dealers to see the market cover
they increase the mark market can mo not
about on par with Sis wheat Nobody, how
ever. wants 10 sell much until they see the Car
regarding the amount of corn left in the country.
Some think the last Drop was OVerestimeted;
Others that It has been larseiy consumed during
the winter; while others still believe there are
'Stsoks Of it, lying back in first hands which will
come into market as soon as planting Is over.
Time alone will decide
In the wheat pit il has been week Of stubborn
fighting by both bulls and bears, end neither
party has gained any material Advantage. Hold
ers appear rather discouraged, but aided By some
outside support, raw, unseasoDeblC weather.. lower
coDEos, ana a resurrection of the ''war ghost"
they have succeeded in SRI h'ening shorts suffi-
GENTLY 70 keep the market steady. Lack OF de-
mand and the prospect that the greater pait OF the
heavy surplus now on hand will have to be carried
over into next season is the weight thai keeps val
ues down. Prices are about Oh level with those
ruling at this time lsst year. while the visible sup
ply is about 100000 bushels. against IL 10000
bushels on June l. 1884. and more than one-third
OF all this IS II Chicago The shortage in the win
ter wheat cTOD is estimated all the way from 100.
eedes fuII We'd OF snrfnS wheat Capitaiists in
Surance men and elevator men, 10 whom the large
amount OF grain In store is bringing for
eoI5S.,o Of bnt 49, WIZ sIs
paying the piper are already squirmiug under the
burden and looking for wa out. TranSpOrta
s 2n % plea e en sH Dee a en
railroads. are holding Ut every inducement posi-
bic 10 move the q ain, but II don't start Freight
rates 10 the seaboard and across the ocean aud the
grain here can be laid down In England at rather
les than 81, but at present other countries are
GLAD 70 supply the dehclencles at the British Isles
at least FIVE cents less.
IF we pay higher prices for wheat in 1855 II VIII
lie among ourselves only, Europe Will refuse TO
respond said julius Bliss tonight.
The eeneral dizziness in business, too, is again {
any advance in b-eacsuffs, add predictions are
already heard that the yield of corn will be the
largest ever known.
Neither packers Eor Spectators appear 10 take
the slightest interest in the provision pit Prices
show scarcely any change for the week. As far as
appears upon the sursce the trade Is in sIatu quo
nothing done Some dealers think the packers
Will soon nave 70 make an effort 70 advance pric
in felfprotectiOD. Armour and his followers have
been Short" but it is thought they are OSly
evening mp. Eleven dollars for pork seems to be
touched the market appears 10 strike somethfng
haro ana quickly bounds back.