The times. [volume] (Richmond, Va.) 1890-1903, 1893-08-04
CHICAGO AGAIN QUIET.
CONCERTED ACTION BY TIE BANKS
GREATLY HELPS THE MARKET.
Confidence 10 Gradually Restored ~ the
Expected Imports Of Goids Good Exports
and Large ssles In Provisions.

CHICAGO. August 3--Talk of concerted
action by the tanks TO get out the wheat
from here tended TO help the market.
The expected arrival Of six million dollars
In gold at New York this week was an
other strengthening factor. Good exports
again to-day was another. Armour,
Poole. Linn, Orr, Severne. all big men,
were buyers. The small crowd got short
on the SiIverman failure, but were quick
ly scared out by the heayyweights-
A disagreeable setback was given the
market by the suspension Of Lazarus Sill
verman, a leading private banker. The
effects Of this blow were more than over
come, but in the last hour the market
siumr ed again on ugly rumors about mer-
camille concerns, the failure TO work
round lots OF cash wheat for shipment
and the light expert business reported
from the seaboard. Corn was strength
ened by discouraging crop news and pro-
visions on good support. Tonight COM
pared with last night. September wheat
Is OFF 1c., corn is Ia 10 5-sc. higher, oats
are unchanged, lard is sc. higher and ribs
65c. higher. Wheat started weak and
lower. and during the first half hour sold
OF l-2c. from last nights close
Besides the Silverman failure the de-
cline was due 10 lower stocks in Wall
street and TO some disappointment In
the cables, which did not advance as much
as many expected they would. in view
OF the sharp rally here yesterday. After
the decline the market dragged along for
a time, gradually recovering its tone, but
marked no material advance Toward
noon Logan, Schwarts, Dupee and some
other leading houses got a good string
q ~ hnr
wheat for sale, the effort to I'LL them re-
suited in sharp competition, September
selling I'D / SAC. from the early decline
The crowd became nervously bullish. and
when the leaders were observed to be
buying vigorously everybody seemed to be
seized with the desire 10 follow suit II
was prominent gossip that Schwarts'
and Dupee's buying orders were largely
from l.. Il. Ream.
At this point unfavorable rumors COM
menced circulating and a fresh decline
began. The market closed easy at about
lie from the bottom figures OF the day
Corn opened 1-fc. advance, and, after
selling UP lac. more. reacted 5-sc. on the
Siverman failure The depression was
Of short duration, as the demand soon
improved on Increased buying orders COM
ing In, and the price reacted
3-4d7-Sc.. declined 5-sc.. ruled steady
and the closing was 1-4Ni 1-2c.
from the top. The weather conditions
caused alarm among shorts, and a good
many came In on to-day's upturn. The
situation In the interior is said TO be
really serious, reports being that the
crop has been permanently injured by
the severe drought.
Oats were a little higher early, but
easei or. Business was most in Sep
TENDER.
The provision market was very quiet,
compared with it's condition for three
weeks past. Lard was taken to the ex-
tent OF 1900 tierces for shipment abroad.
Norton and WorthingtOn were active buy
ers to-day, as they were yesterday also,
presumably covering short sales for Gus
toners Lard was the most actively
traded I'm Of the specialtles.
Cash Quotations-Flour dull and feel
ing in buyers favor; No 2 spring wheat.
&C.: No. 3 spring wheat, ,3q4c.; No. 2
red Soc; No. 2 corn, 3S4c.; No. 2 oats,
233sc: No. white. Z. o. b.. 2Gd27c.; No.
rye, 1870: No. haxseed, 05c.; mess
pork, S1255d12.GO; lard. s7.4JdT.5o; short
rib sides. s7156735; dry sailed shout
ders S7.OOd7 %; short clear sides boxed
Sc 72t9G6S7l5, whisky, 81 -.