Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-08-03
fifteen less than spring, made broad path

mixed wheat, graded No. spr1ng in especial
bin, were, on the other hand, just as eager
to have the sixth board of trade rule in ac-
tive operation:
No such warehouse proprietor OF manager ]
shall permit the receipt in their warehouse of
any grain that they have reason to believe has
been cleaned. blown, mixed in this city for |
the purpose of raising it from loerer to a
higher grade, unless such grain be stored in a
separate bin, and will be delivered out on the
return and cancellation of the receipt issued
for 1t, such receipts not to be delivered on cen-
tracts, except by special agreement.
THE "BEARs PAVED AND KICKED MAN
FULLY.
They insisted that the italicized words in
particular case, as the mixing was done for
an entirely different purpose-reducing the
grain from higher to lower grade, and as
this adulteration was done openly and above |
board there could be no attempt at fraud, as |
the purchaser really getting better |
article than he contracted for. TO this |
agreement the bulls beloved that the |
rule should only be construed in its |
commercial sense,-that the bears were en-
gineering conspiracy to settle their con-
tracts by delivering cheaper quality of
goods than the obligation called for. Three |
boat-loads of mixed cereal had been tied up
at the Rock Island elevator dock, and two at
| the st. Louis. The elevator proprietors
wanted to know what the appeals committee
would order done with it. Deputy Grain In
| spector Parker proposed that it be inspected
as fast as hoisted into the elevator: graded
No. 2 spring where it actually was so, and
| No. winter in like manner. The bears saw
the point. and proposed to have the grain
| trimmed as it entered the elevator leg. The
| five boats had been loaded with about 1900
bushels each of red winter. and towed down
the canal outside the city limits. Then an
other boat of 5000 bushels of straight No.
spring was towed alongside, and an army Of
trimmers began to shovel spring into the lap
of winter. This having been completed the
boats were towed back to the elevators.
The committee took the matter under adj
visement for a couple of hours or SO, and
about 2 o'clock in the afternoon returned
their verdict:
The committee of appeals decides that the
grades should be new No. 2 red winter wheat,
except the wheat on top in the matches, which
Is new No. 2 spring, and tits understood by
J this committee and the inspection department
that it may be separated when unloaded and
inspected out as above, being careful to keep
out all that is in any measure mixed. and any
mixture graded as new No. spring wheat.
The promulgation of this decision was
hailed with joy by the "bulr' element. 1t
was regarded as complete offset to the le-
gal opinion given to the elevator men in
, connection with the especial bin'' receipts.
The bears paved, and growled, and swore.
They said it was put-up job, and that the
. railroads, elevators, inspection department,
! wealthy operators and board of trade Off
I Gals had joined in one grand
! continuation sort of newest and only
! greatest fake on earth-to rob them of
their hard-earned savings. Some of the
!, boldest among the bear family did not hest
] tate to pronounce toe whole deal tainted
I with bribery and corruption, while the little
b fellows, whose gains on scalping at one
I eighth of cent were fast going where the
= woodbine twineth, talked communism as the
only way of giving vent to their outraged
0 feelings.
THERE WAS ON CHANGE LESS EXCITEMENT
it than one would naturally have looked for
s The attendance on the main floor was a trifi,
. larger than usual, the increase being drawn
: by curiosity. The strangers gallery was wei
q filled, most of the occupants being of thu
gentler sex, who gathered there to see thu
u fun, just as their dark-eyed Spanish sisters
flock to see bull-fght. Phil. Armour
fhe 'shead CENTRE of the bull clique, made
his appearance on the floor about his usua
= time, and took up his position near the pro
= vision crowd. He is one of the mos
Is lmperturbable of operators, and, a
he surveyed the scene arount
$, the wheat pit, his face showed n
more interest than the stolid countenance Q
% first-class poker player over big lack
re pot.n And well he might. He and hi
81 friends, both here and in Milwaukee, he'll
all the winning cards, and they know to
!. point how the game would terminate.
~ FEW EARLY SETTLEMENTS
ar among the boys were made on the basis c
It. $1.O6, but this at the time was about tw
~ Shortly after noon George Eldridge, Al
=, mour's trusty lieutenant and broker, noun
:: ed one of the steps of the wheat pit and o
ne fered ''S10S for 5000 cash wheat" and {
ell he did so the 'sshorts'' jeered him. '.B,
yer 300 there amt no corner,'' yelled a ret
faced man, and the sally was responded
with ooh! put up your razor "a playf
way of abiding to the manner in which tt
I'D bulls we're evisce1 ating the pocketbooks
- the bears; s'$1 .OS for 5000 cash wheat
,'o monotonously sang out Eldridge, and the
e was no response in commercial wa
~ The minutes licked into eternity, al
=! 10 Eldridge raised his bid half cent. Ne
20 York dispatches came in quoting the mark
"a strong, and the only broker who wanted ca:
Nc os wheat at ring prices sang out "S1.O9
us 5000" The rise was cheered. "Run b
=, up to quarter said one lame duck, 's'
~ can stand it," A few minutes more elapse
70 s'$1 .O912 for 5,O0o,' sang out the cheert
-, voice of Eldridge. And nobody had a
ave cash wheat. Milwaukee dispatches tn
Wv -" came in, $1.30 for No. 2 spring" The g
oo nouncement was received with groans a
w. derisive cheers.
nm, ssS1.1O FOR 5,OOO,"
all placldly remarked Eldrldge; "Who's got a
on cash wheat to sell?''
.rll give you 5000 WINTER said "bea
INC who had tried to pass that coin before, a
failed.
ole s The gong sounded. An internal din
-, 81 once began. which continued for five m
'no utes or so, when the contending cliques to
their departure-the s'buIls'' jubilant a
the ssbears''--well, let the mantle of char
or be drawn.
ner August options were very irregular. 8
am dull and active in turns The market ope1
ard at 1890, sold up gradually to 96118c, recet
diff to 945ac, hardened to CSC, dropped back
are 93Mc. rallied to 81 &c, sold down to 93c, 8
low closed at 943a@941ac. There were stor
ese of great hail-storms in Minnesota, follow
are by reports that though much of the VIII
len had lodged yet the damage would not be
are great as first expected. These success
bits of information had much to do W
for causing the vibrations of the market. S
TENDER options experienced about the sa
, to amount of vicissitude, and bobbed aror
between $3.50 and 9Oc, closing rather
Int QNo