Omaha daily bee., 1886-10-17
STRIKES CONTROL TRADING.
Spectators Governed by Closing Of Mime
apolis Mills and Chicago Packeries,
WHEAT SUFFERS A DOWNFALL
Corn Also Declines i'm Sympathy-No
Activity in Trading, and the
Bears Govern the Mar
kct-Quotatiuns.
CHICAGO PRODUCE MARKET.

CnCAGo, Oct. lG.-' Special Telegram to
the BEE. At Minneapolis to-day only one
of the big and four OF the little flour mills
were running. Eighteen others We're closed
down by the strike of the switchmen there.
At the stock yards all the great hos-killing
establishments were closed, and one of the
great cattle houses. These great strikes in
Noving the two great western industries Uhe
greatest tiOur-makinS machinery and greatest
slaughtCring and backing establishments in
the world, locked out 5000 men at Chicago
and 1900 more at Minneapolis. These were
the influences that altogether controlled tlc
Chicago markets to-day. The markets
started out with the bears not only holding
all the advantage they gained yesterday but
making a little further headway in getting
prices down TO the point where this numcr
Gus element think they ought to 20. The
open board crowd did Only light business
on basis of Re for November but when the
regular board opened even these prices were
not entertained. November opened at i2'sc
and Immediately drOpued to I2&4c. Little
support was given it. and but few orders OF
any Kind were on the floor The bulk of
these were either to sell or TO buy around
i2Ssc or under. May corn opened AT 1lc, a
shade lower, and fell TO 4O}sc, Pork sold at
%9Ell for January.
Upto IO:SC O'Clock, i25Sc was the low
point in wheat, but the constant expectation,
except on the part OF q few chronic bulls,
was that at any moment ii might make
further decline. BY II o'cOCh the price of
November wheat had fallen to i!i-r under
an almost entire lack of support The floor
talk was that Fraley had unloadcd about all
of his wheat, and with SUI heavier men on
the bear side If the market little or no head
way could be made. Mainly for these
reasons none was attempted. RumorS of
over l,5JO0C0 bu increase in the visible
supply also tended to depreSs the market
more or less, but no figures in this respect
We're considered entitled to any great share
of credcnce. Enough shorts placed them
selves even on the market between II 80 and
j. 30 to advance November to i.5Ic, re-
COvery of &c, but the short purchases were
not with any particular idea of protection
against an expected rise in price. There
vas little or no talk among those best quail
fed to name the future course of the market
to ind cate that move in this direction
was among the probabilities.
The nnal close was SLOW and more or less
heavy at quotations. When wheat was at its
weakest corn was more or less effected in
sympathy. May falling to 406Ec but il after
ward recovered small fraction and closed
quotaby steady. a moderately firm market
was had in provisions, January pork making
an advance OF about DC. But this was due
more to the condition existing at the yards
than from any local demand for that product
or from strong feeling contributed by any
speculative de%and, Small grains were
generally easy and not subject to any par
tcular feature.