Omaha daily bee., 1889-01-23
The SPECULATIVE MARKETS.
Wheat Lower and the Close Square
on the Bottom.
OPENED sPlRlTLEss.
Oats About the Samc-PrOvisions n
Little Ncrvous-Cattle Rather
Slow-Hogs Lower and
Very Quiet.
CHICAGO PRODUCE MARKET.

CHICAGO, Jan. 22-fSpecial Telegram TO
THE BEE. The wheat market was dCstl-
tute OF any especially interesting fea lures to-
day. Until late trade was light and fuctua.
tions within narrow limits. The outside
markets and the local market inclined to
weakness, and the news was not Of a stimu-
Eating character. II had a dispiriting effect,
80 Tar as II was influential IN any respect,
The weather, TO begin with, was locally
milder, though the weather map indicates
generally clear and colder weather. The
amount on passage showed an increase Of
1,006,0 600 bushels, according to Beerbohn.
We regret to notice "A DISPOSE ton on the part
OF the trade not 10 wait for MIR Jones
figures. He is q statistician who
seems to be without honor at home. This is
rough on MIR. Jones. The private and public
advices from abroad are soft, as a rule, and
the New York correspondents have learned
that the stocks of wheat at Odessa are 1900
600 bushels larger than at the last report,
and at Buda- pesth 3, 500, 600 bushels larger.
Later in the day the stock houses were adj
vised that $500, 900 in gold was about TO be
shipped to Europe. 1t was accompanied by
the estimate that 100000 in gold would be
shipped before the week ended. This was
subsequently raised TO s., coo, 900. Tuesday
is rather early to make estimates for the
week, but New York's news scouts are equal
to any emergency. Last, but not least,
Bloom was known to be long 1000 600 BUSH
els or such u matter, and il ls the religion of
the scalping crowd to get after any fellow
who buys anything ana make him drop 1T.
In justice, IT must be said that
the scalpers are impartial in their attentions
and would just as soon gun for operators
who make themselves conspicuous on the
selling side. There vas more or less 'qulet
buying during The first half OF the session,
and the price could not be crowded below
$1,000, and kept there, but the support was
Withdrawn as the session advanced toward
the close, and the crowd got right on top of
the market. The result was that a decided
weakness during the last hour emphasized
the last few minutes. More excitement and
life were compressed into the final half hour
than in the whole of the day previously. The
market broke right of from 81 COZ and
Sl.OO56, where 1t had been resting dormantly
for an hour or more, to Sl.0O, and then to
992sc. The gunners apparently got the
game they were after, and everybody had it
that Bloom had thrown over his wheat. If
it wasn't him it was somebody else. Ger
tainly n big lot of long wheat came out, and
nine men out of ten agreed that 1t was Leo
pold's.n The close was square on the bottom,
viz, 1890, or l16c lever than yesterday.
May wheat opened at S1.OOH, ranged to
81 .OuasGl.0O until about II 30 O'Clock, with
the favorite position near the inside. When
the market got a move on it went fast
S'OSe' - SN'' N'NS hhS'iN IVY .
The break was, of course. the GRO wning, and
in fact the only, incident of Importance for
the day. The significance of the break was
variously commented on. To bears it looked
like a forerunner of a big slump, and to bulls
like a strategic movement on the part of
their leaders to shake off an operator who
rolls up a deal on a favorable market much
as a boy rolls up a snow ball. Bloom does
not call "A town meeting for advice when to
let go or to get out of u deal.
The corn market opened without ANNA.
ton and inclining to weakness, perhaps more
i'll sympathy with wheat than from any pro-
nounced desire to sell corn short on its de-
merits ut the present prices. There seemed
TO be many friends for May corn at 3G31c;
but the offerings were greater than they
were inclined to take care of, and Il lower
level was reached. The great weakness OF
wheat toward the close held the market
down, but May did not decline below $500,
although there were sellers at that price tow
ard the end.
Though quiet, there vas a far aggregate
trade in oats early, at substantially yester-
days prices, WITH a tendency toward a
weaker feeling. The speculative busl-
ness was confined to May, which
sold early at 2724c, but declined &c
long oats came out, with a fair general
buying all around. The near months were
duh, and June was in light request at nearly
May prices. OF 90 cars inspected in, "a cars
were contract grade. Tn sales of cash
were chiefly by sample.
Provisions were a little nervous. Under
the influence of the small run of hogs, trad
ing opened with a bullish inclination, and for
pork the market advanced on the first prices
made 1219c, lard 10c and short ribs DC. AS,
the upward tnrn, however, failed to encour-
age buying the feeling weakened, and during
the last half of the day the Improvement was
was lost In short ribs and considerably more
than lost in pork. Lard was relatively
stronger than the other lines and closed on
the average nc higher than yesterday. AT
the close short ribs showed no change, while
pork was 5Wl0c lower.