, 1873-08-01

arring could Of course. bo dlsposod ot ut No, 2
pricost If offered I'll 5000 lrn lots. or mixed in
with No. 2 to form round lot. Dut tho lower
oporsters @ s %ere S's loo asy sxY in u ses hc
larger tlonl tn think Of tho lesser No. sold at
Sl.04@f.04}1, and rciocsetl at SIC.
| aoller August waa moderately aotivo In tito
early pnrt Of tho day. principally in sctt1omont
trouble aud tho uao Of caBl involved In mailing
tion oponed = sl.11}M, ADVANCED to a114S96. r..
eoa y ' e Ss 70 Sos doe rs ho aon, tt
| ton Of operators being thoncoforwa1d totally
occupied by tho July tloal. August closod onslor
ct e1.iiN., Thoro was almost nothing doing il,
tns osS so a 2{lff9 eSs 5 sSs seas shtsor s 9eo
| at sf.05.
sellor August averaged only about 10 por b,,
higher thnn yesterday. Il waa strengthened
aomew Int by sympathy with cash wheat, but nd
Now York and The expectation Of moro liborai
| receipts hero. Tl,cro wero not wanting those
who looked on tho August deal with suspicion Of
another corner. They argued that tho market is
WHO :" squoozod tic boys" SO unrnor-
q, ot itho sllortago az hish1 as 10000.
900 BY; OF eosirao, il thoro DO any aucl,
short interest as TINT. or oven of ha1f TINT
iongs, 1t would DO oAsy to put OH the hcrows so
terribly ns to cripple not a fow Of thoao who
hayo sold 30 much Which thoy do not OWL,
and cannot own unless thoy buy It from tho Byn-
dcato. There may, howoyor, DO sonla mistake
about this. 1t takos good many people to aoll
Il, ,000, G00 bn OF wheat, III 6.000 bn lots, moro
than thoy buy; for it must bo remembered that
thoro nro not . few who buy with ono hand aud
sell with the other.
For once In tho history Of corner, the smut
mills lavo not becn at work, manufacturing large
quantities of No. 2 out OF the lower grades. Tho
cornor WAS manipulated go quietly that even tho
| rido.awako propriotoEs Of thoao establiBhnenta
profit by 1t to my considerable extent
It IL somewhat singular tint tho short interest
did not contriye to break up tho ring boforo they
wore thrown INTO tho gutter. Thoy
ooiei% % tosothor a @ fund Of s2oo,oo6, ani and
called margins, they would fiavo nado 1t aecca-
aary for tho ring to put up not far from 000 900,
Under tho r7llo that tho shipping value must DO
respected as the basis for margin poBtingB. Tho
about 81.20, which put tho margin question Ho
far within the power of tho shorts thai tho onga
would probably lavo boon unable to respond,
especially as they wore unproparcd for any such
contingency.
1sEauLTs OF THE CORNER.
| Tho corner whs engineered by William Young
q Co., Of thia city, who nili bo remembered US
| having conducted q gigantic operation il pork
last year, which thoy have not yet entirely closed
I
loss to the principals. Tho wheat cornor was
understood to have been conducted for d pnrty OF
about s!1 MILWAUKEE, operators, ono OF whom,
mr. Collins, "a5 on the hoor to-{iay. those gen
agents, h1essrs. Young & Co., except about &C, 600
bu; but there was q large quantity OF wheat
sold in driblets to outudo partics, which was not
| delivored,
Inc combination bought ao0,uo0 bu OF cash
whoat, at an avorago OF about el.22, and ,000
bn options, ut an average OF sl.19: They sold
! thu cash wheat at SILL to Nlr. Chisholm, for
shipment, which Was tug only m connection ~ Tint
| gentleman had with tho deal. They sottlol 100. :
ep e % 600 5hS S oRG5 g At ovnr an assGas9 ebas q
unproyided for up to the close OF tho o!lico last
evening. And it is probable that tho WHOLE
or tuat romalndor Will bo bottloa
up to-day, as it is owed ny rcspous;l,
OIL unaer tho impression that the corner WaH run
10 tue interest ot John i, Lyon. with whom
tney hayo unsettled accounts IS, On nia unsccess-
1!ll corner Of laSt august Mhen thoy ascertain !i
probably pay their differences without any fur
ther question. Il { this be tho casc, thon it il
easy to figure ont that alter paying az expenses,
tue syndicate Wil clear about Slao'ooo on tho
| :, This, however. will be far from the whole Of
tho profit OIL the movement, OF Which that IL,
snls Guy Is only part. 1t is understood that
| MilwanGoe i haa boen squeezed, though to d leHa
| c1tens, oy the Same partlea.
Ihe most singular thing about tho performs
hneeis tue abhonco Of what are known in conf
morclal parlanco as lamo dockH." No ono has
failed thus far and tho roason for this IL tho
fact that most OF the shorts were distributed in
amall amnunta a1noug great many rarties. But
succoA8ful' Each ono kept from the knowledge
Of tho rost That ho "an on tho short side, and
each seemed lntont on making I'LL tho rest I'LL IN,
so that 10 could Aayo chance to buy in hiH
own little lot after tho corner }'d died out, for
lack OF the muat On which II fod. They all over
reached each other, and themselves, III this
regard. Up to this 1noruiug they lad only
% niled IN n ooa some 275.ooo bu,, and Of
that l7o,ooo bu VAS resofd BY tho
down tho furoro till they wantcd it to rise.
Menca aa the total quantity OF shorts bought was
W., ooo Gu Obey get out Tor ronna 1nllion) and
tho reaales loft them aoooo0 bu cloar, to settlo,
hs !ntimated above.