New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-13
THE TRADE IN CHICAGO.

Chicago May II (SpeciaD.-Wheat 10 Quieting
down. Severe losses have taught every class
caution. The tmdty now Is as excessive as the
business was thirty days ago. SO great are the
fears that the market Is slipping back rapidly
without the bears making back any Of their
losses II looks as II they had lost their
age NJ just the wrong moment. The May to-
day sold from 81 20 TO 81 co and closed at 81 50.
July sold from 81 1914 TO 81 on. and closed at
81 OSL II Is 81 OS on the curb. The trade even
in the July was exceedingly small. In the May
to-day It was less than 100000 bushels Every
body IS over in September. trusting that It's
fluctuations will be within ordinary limits. The
feature was the selling OF September by for
eigners and by the seaboard This created some
comment because Liverpool although lower on
May and July YVES higher September and
December II looked In the pit as II there were
some further covering OF July for Letter &C
count II was an unimportant scale how
ever. Letter brokers continue TO take the car
lots at least all such promise to make con-
tract There not much competition for
them but Letter bids up SO that the mixers and
elevator interests Will not get any. Increased
receipts here are taking or some OF the May
enthusiasm 337 cars here to-day. with 27I
contract One OF the Armour houses. the ID
burned down to-day. 1t held 10000 bushels
OF wheat most OF II contract Western receipts
are increasing $4,000 bushels at primary
points. against $4,000 bushels last year; $40
cars in the Northwest. against 312 cars Letters
cash sales only 1900 bushels. and his
sales for two days have been less than 100000
bushels He talks as II he would like to see the
price slip off. perhaps because receipts are get
ting 30 large. There were 337 cars OF wheat
here with 377 cars contract.
Corn opened up \ cent. but closed Y cent
under last night July touched 37A cents and
36N cents and closed at 36I, cents. Shipping
bids were Y cent out OF the way Practically
nothing WAS done for export There was some
very influential selling based on the poor ship
ping demand. Receipts here were large. III
cars. with $40 cars estimated for Friday; Liver
pool was h@ld higher; seaboard clearances
were 1.l41 900 bushels. The selling was led by
Patten Seaverns Pecaud and Bartlett Frazier
Local shipments were 100000 bushels. more
than double the receipts. Charters were 2OOOoO
bushels. The talent acts II 1t expected
break The immediate price will depend on the
volume OF speculation. II II continues to show
increase there will be bull market In spite OF
the big receipts There were 100000 bushels OF
corn In the burned Armour elevator
Oats were easier because corn was. Shipping
bids were y cent out Of the way. Receipts were
2S9 cars with 800 cars estimated for Friday
Clearances were 14l.00O bushels. The trade IN
futures was small. Cash business and round
lots here for shipment was almost NIL There
was some liquidation by May longs. May sold
from BIN to 3lh cents. and closed at the bot
tom: July from ON to 27k cents. and closed
at the bottom. There was large provision
trade. with wide range. strong opening.
sharp break and then quick closing recovery.
Although the last prices were not top ones.
pork closed 22l1 cents over last night; lard. I'D
Q121s cents over last night; ribs, l211 cents over
last night. The big lard longs the Cudahys.
were early sellers. but were buyers again on
the break. Armour was . large buyer. The