The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-05-25
CHICAGO GENERAL MARKET.

CHICAGO GENERAL MEARhEI.
Chicago, May 2L-The edge was taken
off the bull movement on the board of
trade today and everything closed lower.
In comparison with yesterdays final
figures, wheat finished IA cents off; corn,
IA; oats, y; pork. so cents; lard and
ribs, 25z cents each.
Although the Liverpool wheat market
opened I'd lower than 1t closed yesterday
ard it had raised in Kansas during the
night, the market here opened with some
buyers willing to pay IS cents for July
wheat. Not many buyers, however, paid
that, the great majority We're willing to
sell at 1874, or the same as ii was worth
at the close of yesterday session, and
some even pressed some wheat for sale
which had a good profit i'll it at ia. A
great deal of wheat was wanted at from
49,. up to 1884, and before the early buy
ing orders which succeeded the opening
break could be all filled, the price rose
the price heaved up and down, irregular
swells and depressions between 1873 and
70, and then came a crash.
Corn commenced 10 tumble and when it
had broken to 1sc. below the price ii had
closed at yesterday, then wreat had a
sympa athletic spasn and collapsed sud-
denly to ~. The reviving influence Of
fresh buying orders was again applied
and before many minutes it had again re-
covered to 1sp4.
The first downward plunge was due to
the lower cables, sales by longs and the
execution of stop loss orders. On the
next turn il declined TO ISIS and then kept
webbing lazily for an hour or more be-
tween Ie12 and ~. The volume of trading
was very much reduced as compared with
the tremendous bulk OF business done
every day for ten days back. There was
considerable interval during which there
was actual dullnesS IN the Pit, but at no
time was there an entire absence of nery-
GUS watchfulnesS that kept the pit filled
with brokers ali alert for contingencies.
The reports from the country concern
ing the crops of the states of Indiana and
Illinois were woeful in their monotonous
reiteration of destruction. In addition to
these states, Ohio. Kentucky and Missouri
joined the doleful chorus and even the
northwest had some complaints to send
about unfavorable weather Tor spring
wheat. The market began to weaken
very much after the noon hour and long
wheat kept corning out in heavy chunks
from that time up TO the close that
resulted in rapid and heavy drop in the
the decline at Is, ~. and finally 76ss but
IL was not until the latter point was
reached that the selling orders caused to
prevail. There was a rapid recovery to
n cents in the last few minutes, but at
the close there We're sellers at n cents,
and it dropped to 1878 before the crowd
separated.
CORN-The market again suffered from
heavy receipts and favorable outlook for
the next crop. a good demand from the
resulted in the sale for export of
go. 600 bushels, sustained the price early
in the day but in the afternoon weakness
Of wheat, fine weather We're the most in
huential factors in the end and a con-
siderable decline resulted. The opening
prize for July was 54sz. or 4 under the
previous days closing quotation. 1t was
prevented from getting very weak while
the cash business reported was under way
but gradually worked down 10 53Is. 1t
had quick reaction to 53sl, which was
the price at the close.
OATS-Further and more disCouraging
reports of crop damage by the weather
started comparatively firm feeling in the |
bats market Ii did not last long, how
over, weakening with wheat and corn |
There was free selling on the decline and
1t times some difficulty was experienced |