Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-07-28
another Account.
milwaukee Special (July 25) Chicago Tin

milwaukee Special (July 25) Chicago Times
The excitement among wheat operators is
even more marked to-day than it was yesterday,
although it now pertains to August and Sep
TENDER deals instead of July. 1t is the opin
ion of those best qualified to Judge. that the
''shorts" will suffer more from the August
deals than they have frorr McGeogh's great cor
her. Crop reports continue to come in in ia
vor of the bulls, and the market is advancing
SO rapidly that many believe August wheat will
sell at 81. 10 before there is break. The mar
ket here is entirely in the hands of the bulls,
and all our Milwaukee dealers to be on
the ''long" side. Just who the 'short" sellers
are is difficult to determine; but the supposi
ton is that they are mostly Eastern parties.
The situation in relation to McGeogh's cor
ner has has assumed sullen aspect. Few set
Elements were made to-day and all the large
firms who carry a line of shorts are sitting
down and awaiting the developments of the
next few days. This morning Mr.. McGeogh
nounced that he would settle July deals to-day
at $l.16, but that all applications must be
made before 8 o'clock P. M. The announce
ment created no excitement, and no movements
toward settlements. 1t plain that every
body tho lght the worst had arrived, and that
delay might possibly be advantageous. The
Times reporter is informed however, that MIR.
AC0COSuS IcIm6 u bcGGlcucut Will ne 81.
tomorrow, $1.2O on next Saturday and S1.25
(the limit previously specified in the Tines on
the closing day of the month.
little ripple of excitement was occasioned
this morning by the announcement that the
fiji m of Keller Co. had suspended. Inquiry
proved that the firms embarrassment was oc-
casioned by the refusal of Eastern Shorts" to
come up with their margins. The failure is not
serious one.
ALI is yet the merest speculation, both as to
the amount of wheat McGeogh still holds and
the amount of money he will make out of the
corner. The best estimates place the amount
yet unsettled at 100000 bushels. It is be-
ieved by many that in the deals yet unsettled
McGeogh will see great deal of trouble, on
account of the refusal of many parties to draw
their checks for the differences. For instance,
it is reported that McLaren & Co. carry over
BOZ, 600 bushels for short sellers, who are now
telegraphing orders not to settle, and that the
firm will be held responsible if any settlement
is made. 1t is also asserted that Kershaw &,
Co. have large line of kicking ''shorts," and
that the 1000 or more bushels they carry will
be settled only at the end of a lawsuit.
If few of these heavy lines of shorts should
sslay down. of course the profits of the corner
would be wiped out in a great measure The
talk on Change to-day best illustrates the
feeling there is that there will yet be trouble
arising out of the corner.
will be to pay before this month closes. wish
we had our books all clear. 1t has got out that
McGeogh has been selling wheat to the millers
here No. 2 at SO cents. Now the boys don't
like to stand that I think there will be a gen.
eral row all around before the close of the
month";
There was q good deal of similar talk to-day
and it certainly looks as though there was 6
good deal of trouble brewing.
Since the adjournment of the noon board il
is reported that the shorts are selling more free
The demand for August forced No. 2 options
for that month to sl.OOss@ 1.O1, yet soon ATTIC
adjournment puts were in active demand a
SO cents. This afternoon there seems to be al
easier feeling, and it is accounted for on til,
ground that many settlements have been made
The talk, however, about McGeogh's selling t,
the millers at the low rate he is said to hay
sold at kee ps up good deal of bad feeling to
ward him.