The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1886-02-03
CHICAGO MARKETS.
Wheat Excited, Corn Neglected aud Provi
sions Duh.

Special to the Sentinel
CHICAGO, Jan. S0.-The feature OF the week on
Change has been the operations OF the Norm
Ream combination in wheat. Tint clique j. com
posed OF @. II. Roche. Carr, Jones, Eeam aad e
dredge. All have always been known a. consti-
tutional bears They were the traders who re-
Gently rode the market from 9Sc for May down ia
So &c. At that point. however. they took the
'long side. buying heavily. During the early
days about all the news seemed to be in their
favor. New York reported good export demand
and what was more TO the purpose some
large parcels really cleared for the
other side. Then. too the bins OF interior millers
were reported about empty. and they were fr.-.
buyers here. at ST. Louis, al Detroit AMI Toledo
while receipts all around were small and the Wis
Idle supply showed million and a quarter de
crease. Lately little specS OF war appeared on
the Eastern ho-izon and as i usual ia such cases
the crowd seemed to believe that ali Europe was
shortly IN 0e involved. Thus prices were carried
upward n zigzag course, the market finding
many resting places and receiving numerous set
backs, on the announcement OF wheat tout CT
condition nj Detroit, fall OF snow in
i ine Winter wheat Country. and cas-,
Ter caDies English consOls, too. remained
strong, or ea>cd OF little supposedly on Parlia-
neniary troubles. which argued that no appre-
hetslons OF war were felt Still prices climbed
skgwald until May touched SSc. Here however
the dea! acted tired. With wheat enough in sight
10 iast until next spring-tO say nothing Of the
invisible supply which is supposed to be much
larger- conservative traders believed sensa-
uonal advance INV arranted and sold confidently
The Ream party made big effort te brighten
Jack Cudahy into covering his big short lines.
but without avail, and il was known that the
export demand had fattencd out and Greece had
backed down. they concluded 10 realize. Their
holdings, or at least some 100000 bushels
were sold out by Charlie Singer, Crosby
Warren and Mitchell but dozen other brokers
with strong lungs were put into the pit. with or
derS To bull the market - much as they could
and buy rs little aS possible. In this manner the
grain was all disposed OF before the crowd hardly
realized what was going The only strong
bull clique now left in the market is that repre-
Sented by Baxter, whose customers are said to be
prominent Wall street houses. Prices are back
again near export basis, and, a. has been ar
gued by leading dealers al along, If portion of
grain can be got out of the country at cheap
figures, high prices may be realized for
the remainder In any case, kcunctt. Baker,
he short a we are now at the season OF crop
recently unlOaded more to give the market a weak
look and get the crowd to selling at low prices
than any thing else. Phil Armour says he owns
the bulk of the cash wheat here and while no
body seems 10 want it now. he is satisfied il will
all be needed at good prices later on.
Corn Is neglected aud good share OF the time
the pit i completely deserted. No one appears
willing to touch this cereal since III. \. Chapman
made his losing play in il through Mccormick
kennett K Co. Mr.. Chapman, however, has more
than made up his losses by big winnings in wheat
ever since.
Provisions also are duH, traders apparently
waiting for the posting OF stocks, February l. and
TO see into whose hands deliveries fall