Omaha daily bee., 1889-04-04
The SPECULATIVE MARKETS.
Bloom is Staggering Undor O Big
Load OF May.
THAT FUTURE STILL A MYSTERY
II Closes At n Shrinkage OF over -Four
Cents Since Monday--A Slightly
Increasing Interest in Corn
Cattle Fair.
CHICAGO PRODUCE MARHEr.

CHICAGO, April 3,-fSpecial Telegram 10
THE BEE. May wheat broke TO 95lfc to-
day, sheer descent Of 416c as compared
wita Monday. There was a partial recovery
afterwards, the price going 10 971Sc, but
there was May wheat ION top" all day, and
II worked back to 96xc, where it hung for
long time, but closed at 951kc, n shrinkage Of
4lsc since Monday. The May wheat deal is
now mystery to whose solution the general
attention is directed. Fairbank was asked:
"What is the matter with Mayl" He grinned
and said he had heard that "Bloom was un-
loading his wheat" The latter had the
temerity to load up with May and then brag
that he was going to ride up on the
clique's shoulders. spokeman for the
clique gave IL out that If Bloom
could not be shaken out" the deal would
be abandoned. and from the way May wheat
was offered 1t looked as if the threat might
be in process Of execution. Bloom announced
Monday that he had his wheat margned
down TO 90c, and in the next breath he said
he was "out of wheat He did not act to-
day as though he was out of wheat, however
much he might like to be out. He had Alag
of distress raised" one of his acquaintances
said. All this relates to the personal phase OF
the market, and not to tho legitimate situa
ton or the natural causes or effects. The
crowd IS greatly amused at the efforts of the
clique to shake off the "tailers,n and will
applaud whoever wins. All told, possibly
100000 bushels of May wheat was worked
of during the session. How much of this
was for 'tailers" account and how much
for ''cique' account none of course can tell
There was good trading in July wheat
and little doing in June. July opened at S61Sc,
sold off during the first half hour to S5jsc.
1t steadied around and slowly crawled up to
S69Sc. From that point it slid back to S61sc
about noon, but during the last hour a
stronger feeling developed and q substantial
recovery in prices followed. The market
got back to S6Mc, and was steadily held.
The close was s6s4c, or only sc below Mon
day. The feature Of the trading was the
healthy general inquiry for deferred futures
on a seemingly legitimate basis
There is slight increase OF business being
displayed by the spectators in corn, but it
has not resulted SO far in much activity, to-
the first two hours, after which there was
the usual dullness in the pit. Prices were,
however, more decidedly upward to-day than
for some time although the resulting ad-
vance was more pronounced in July than in
any of the other futures, with May no higher
i'll the end than it closed on Mon
day. Navigation may be said to
have opened. One propeller, cleared
with load of corn yesterday. The
schooners G. j. Boyce and the Naiad were
chartered to-day at &c for Sarnia. The firm
ness of the Liverpool market backed up by
excellent shipping demand at the seaboard
and the active buying of daily car load re-
serves here were stimulating causes of the
good inquiry which prevailed for speculative
futures. There was especially a good de-
mand for July, which led to more than the
usual proportion of transactions IN this
month.
Oats were in moderate demand and fairly
active early at nearly Mondays prices. The
buying orders were evidently soon satisfied,
however, and in sympathy with the weak
ness elsewhere the market ruled dull and Il
@@c lower. May was the favorite, selling
from 26asc down to 251ac, with a final recov-
cry of nearly &c, with June in some request
and other months dull. The speculative
business was mostly local in character and
the cash movement was unimportant. No
oats to go to store were weaker at 248dd
24Tc. Later in the session there was in
: creased selling, with prices finally resting al
the bottom.
Interest in the provision trade was con
fined largely to pork. Short ribs were held
steady at last Mondays prices to shade
easier, and in lard the changes experienced
were restricted to small limits In pork
however, the bears were aggressive and in
large measure in control, the monthly stocl
showing being from 10 to Is barrels larger
than was expected. They were encouraged t,
pound the market, and as a consequence
severe depression was suffered. In pork TO
May and Jrly the days actual decline wa
2216c, and for June 20c' Lard closed 21S95
lower than Mondays best quotation.