Omaha daily bee., 1889-10-03
The SPECULATIVE MARKETS.
Wheat Steady at Some Further De-
cline in Values.
A FiRMER FEELING IN CORN.
No Trouble Experienced by Provision
Traders to Keep Interest Alive
A Cut In All Glasses
of Hogs.
CHICAGO PRODUCE MARKETS.

CHICAGO PRODUCE MARKETS.
CHICAGO, Ocs 2.--TSpecal Telegram to
The BEE, The wheat market was steady
at some further decline in values. Cousid-
cradle activity was Observed but the fever
ish excitement that has characterized opera
tons Of late was lacking. Cables were
y Ather tame In a majority Of instances,
though no positive decline in prices was
quoted. Receipts in the northwest are heavy
and advces from that quarter indicate that
the movement is likely to be large for some
time TO come, possibly until snow flies. Re-
ceipts here ana at nearly all winter wheat
points are not excessive. In Chicago they
are on the decrease, only 1873 cars being re-
corded or the inspection sheet this morning,
while to-morrow's estimate calls for 13l cars.
Wheat is accumulating rapidly in New York,
however, and exports from New York are
next to nothing About the most bull
ish items floating around to-day
were statements from the Toledo
market report and a prominent St. Louis
miller first, that so per cent of the Ohio sur
plus has left farmers hands. and, second,
t.fat Missouri farmers have parted with 20
per cent of their wheat. Flour men are not
able to report foreign inquiry to amount to
anything and seaDoard clearances of flour
are not on the increase. News from the out
eide was not particularly insDiriting TO either
side, but what came that was open to bcarish
construction seemed to be the most in1uen-
tlal. The market was quite strong early IN
the day. December opened at sage, sold up
Immediately TO S29<C1S21kc and subsequently
worked off to S21slGS21lc. On this decline
several good sized lines of long wheat came
out, but strong buying by Hutchinson, Dun
han, Schwartz, Dupee aud others caused
recovery to S294c. Later tho mar
ket worked down once more to S21sc,
but second rally took the
price to S29Ec. The market was quiet toward
tie last and the closing quotations were 81 a
@S2ssc. May started in at S5I1c, ranged ut
S53lf9S5c the first hour, advanced with De-
cember to about the top, sold off TO S5(6S5lsc,
recovering the lost ground in part and clos
ing at S5l49s5a6c October ranged at SO]69
Sic end closed at S09lc. Compared with yes
terday, the closing prices mark a shrinKage
OF S9Ic Trading in futures, though
cctive, was not quite up to the recent aver
age volume of transactions. The temper of
the speculative crowd is quite bearlsh, even
the bulls, or majority Of them, predicting a
reaction. Cudahy, Linn and most OF the big
leaders are back on the floor and very few OF
them are talking bullsh for the near future
although several declare themselves be-
levers IN higher prices later on, when the old
world begins to need wheat bad enough to
bG for it. -
There was firmer market for corn, but
not any more activity III speculative dealings
the advance not being sufficient TO seriously
alarm the shorts in the absence of any ma
, terial change in the situation. Receipts were
disappointingly small, being more than 100
cars less than yesterdays estimates, this
being explained, however, by the statement
that billed through cars had been reckoncd
yester day. The demand for cash offerings
was brisk, and the chief strenth of the mar
ket lay in the near deliveries. Exports were
light and the Liverpool market was quoted
weak. Outside domestic markets sympa-
th;zcd only slightly in the iirmness of this.
October was in good demand and closed go
higher than on yesterday. November was
likewise higher closing at 81 &c bid.
No new features of Importance developed
IN oats. The market was quiet even to dull.
ne"s, but tirm and i'll May shade better
prices were obtainable most of the day,
though the closing quotations are identical
with those of yesterday. Operations were
on moderate scale. fairly good cou-
Bumptive and shipping demand Is reported
end local stocks are not likely to accumu-
late very rapidly under the existing condi-
tions.
: Provision traders had no trouble to keep
their interest in the market alive. The
monthly stocks showing, which was larger
of pork and lard at least than was expected,
received considerable attention, and there
was also more or less discussion over the
movement of hogs and their probable course
IN the near future, but these subjects were
oversnadowed by October pork. That art-
Gle had the call with everybody, and the ac-
tion of the court yesterday in refusing the
application of the clique for an injunction
against the delivery of October made prop
erty, together with the days developments,
furnished an abundance of matter to subor-
dinate everything else. The manipulators
from the start were vigilant atchers of the
market. Trading opened at 1890, but the
price was subsequently advanced by Hutch
iisOn and brokers In his employ irregularly
TO 100 and was made to close at S1l 90, or
Coo above yesterday. No weakness, so far
could be seen on the surface, was shown by
the parties in control. Their defeat in court
In no wise disconnected them apparently, and
Tor the time being they retained their dom
nionte with their old vigor. During the last
hour of the session a tender of 25O barrels of
October-made pork was made by the Inter
national Packing company to Stauffcr and
refused. The pork was sold later under the
rules of the board ''for whom it
may concern" The tender. refusal and public
sale, II was generally believed, were made
by arrangement for the purpose of making
test case for the directors TO pass upon. The
case will probably receive. official action as
soon as the papers can be drawn ana filed,
and the position of the board established on
It's own rules governing the delivery of pork
made in October. When the October deliv-
cry was marked up to Sll 90 Hutchinson bid
openly Sl0,50 for 1000 barrels of October.
made pork, In other lines of the product
the days business was naturally curtailed.
Outside orders were down To minimum,
and with professionals strong disinclina-
ton was shown TO branch out. Prices were
also easier IN their tendency being affected
by the large hog receipts and restriction in
speculation,