New-York tribune., 1897-08-25
BEARS IN CONTROL IN CHICAGO.

THE REACTION IN THE GRAIN MARKETS SEVERE
SHARP FALL IN CORN.
Chicago Aug "a tSpecaD.-The wheat buls. VINO
have been having things all their own way pesh
TO find the shedding hard. The wheat market mas
been acting shaky for several days. IT broke nVe
cents to-day and closed pretty nearly at the bot
tom Tc-nicht's prices about 10 cents under
those OF yesterday morning. September opened
from e5iy to ajig sold between Ss and 81 and closed
at .la, The December was very Irregular, almost
three cents under the September at times 1t sofa
as low as 9sss and closed at 9o4. Liverpool came
very weak off equal five cents busheL Paris was
lust as weak The wheat bulls have been loaded
with corn and oats. and everybody mas known IT,
They sold out their corn this morning. breaking
prices almost five cents bushel In that pr. Inc
experience in the grains greatly disturb ID
the wheat crowd. There was fear that hquidatlon
would even be more serious in wheat than in corn.
The price dropped rapidly. The bull crowd did sell
out a good deal of December II stood, however by
its September There were stop-loss orders from
every direction. Cudahy started raid. At times
during the day there was great nervousness as 10
Just how the bulls stood. The gossip is that they
were called" at least million bushels. When
It became known that they had liquidated their
corn and oats and also a share Of their wheat. the
feeling became more comfortable New-York at
the close reported twenty-eight loads of wheat for
export Charters here were 135.0O bushels.
Bradstreets reported increase in the worlds
visible of 42300 bushels. Export clearances were
Coo 600 bushels.
The bull crowd which has been holding wheat
corn and oats, sold at least 100000 bushels OF
corn to-day through Baldwin-Gurney The name
OF Allen-Grier given up on this at the close.
The effect on the price was disastrous. December,
which sold early Monday at 25i9 opened this morn
ing at 80 cents sold low as 80 cents and closed
at 30i, There was heavy selling by elevator people
al the opening The weather West was warmer
Showers and warmer weather were promised for
Wednesday. Receipts were li9l cars, with l,GO
estimated for Wednesday Samples were two cents
lower There enormous charters. l."2w
bushels Seaboard clearances were H2up bushels.
Bradstreet's reported the increase east of the
Rockies for the week t4.32.o0 bushels. The con-
tract stock here, s506.WO bushels showed an In
market was the corn over again. except on little
smaller scale.
The bulls had no such line of oats to liquidate as
they had corn. Such as they did have they SOLD
out Receipts were 75 cars, with 80 estimated 10:
Wednesday. Samples were one-quarter 10 one cent
lower Seaboard ceardnces were ip,pJ bushcls.
Charters were 1900 bushels.
The break in the grain market affected pro-
visions Furthermore. there had been heavy liqui-
dation for the last two days ana the market fe H.
Pork lost ~ cents. lard 10 10: ribs held their own
The Cudahys led IN the selling. Armour was the
best buyer There 10 hogs. with 5000 esti-
mated for Wednesday. Prices at the yards were
steady. ,, .
sss.: calls 81. puts on December wheat closed
Closed AT eein: "caiis s1ss On the curb September
wheat so,d NJ oi3.: December, 90is