The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1885-01-14
SPECULATION In CHICAGO.
The Market Commenced with . Boom,
and all Enorts to DePress Are Not
Successful to Great Extent
The Usual Dodges Tried.

CHICAGO. Jan. 10-lt has been another week OF
great excitement on Change, and fluctuations in
values have been frequent ana wide, though the
tendency all around has been pretty generally up
ward. Wheat started with boom, said to have
been engineered by the Wereshoher crowd in
New York. partly, OF course. with the hope of
pocketing good winnings here. and partly also to
aid bull movement in the Granger stocks st
Gotham. Big local operators, including John
Nelson, Schwartz, and John Lester joined in on
the long side, and even Armour Is said to have
taken few good-sized lots through Baxter. Out
side orders came In from every little country
speculator who ever did any business here,
and values climbed along skywsrd.
After o fair advance was recorded,
however. holders commenced filing up the
'lambs' and laying away their winnings. Then.
following the same old tactics. they went In TO
pound the market down and shake out the new
holders OF the grain. The visible supply statement
aided them, as 1t showed an increase and csnsed
talk that perhaps after all, the grain in sight had
not yet reached its maximum. Cables, too, about
this Time Time turned as sss Il
in forcing crop. Yet Ii was Ehortlived. Even
while doing all they could to depress the market.
in the pit picking up sn the stuff thrown over
Receipts were smaller than Tor some months, and
while advices from the interior told of freer
movement, it had no effect, it being generally
believed that hencetorth farmers deliveries
would be absorbed by the local milling de-
mand. This, together wssh the knowledge that the
failures reported in New York were without
foundation, In fact ere ated confidence and in
duced good buying by conservative men. Cable
advices also strengthened up sgsin in response to
the better tone here. and the general belief Is that
those under the market have got q good hold and
backed by public sentiment propose to push II
for ell 1t Is worth Business men report the out.
look more favorable for all branches Of trade and
many think higher values for good products the
first and most important step toward general pros
perity.
This feeling said W. L. Bodmsn. attracts
plenty of buy efs with money, and since the vol
ume of speculation on the bun side has grown to
such large proportions, any sharp breaks in val
ues are likely to be quickly recovered"
Corn also has shown plenty of life and activity.
Traders early made up their mind that corn ought
to go up in company with wheat and provisions.
and that there wes not much danger of being
overburdened with supplies if prices were several
cents higher. Hence there was q good deal of
confident buying ana even when wheat broke
corn remained comparatively steady. Receipts
have been more liberal but the percentage Of
contract" was less.
Kent. Hutch, Armour and the other packers
have stopped bearing the product 10 affect the
price OF hogs and turned bulls to MAKE market
for their manufactures. This with one or two
says later on to shake out tailers has been the
usual mode of operations each season, with the
exception Of last year.