Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-08-01
tsnec;ol Telegram to the Globe

MILWAUKEE, July 3l.--At the early board to
day wheat was weak and lower, owing to de-
pressing foreign news, together with the fact
that the country holders were realizing on
August and September options. AS the season
advanced prices ruled frmer and quite rally
was made in the prices, owing to most favora-
BILE news from Chicago coupled with unfavora~
die crop reports from Minnesota and Iowa. 1t
was decidedly asserted that the average yield
In Iowa would not exceed twelve bushels to
the acre. On Change speculation opened tame
and SO continued until near O'clock with
AUGUST OPTIONS
ranging from 1874 to SO; and September at
92X to 1925, closing at the inside figure Some
little trading in cash and July deals at $1.22A.
The short time intervening between l o'clock
and 10, TIL, close of the session, was devoted
TO
JULY SETTLEMENTS,
from " hich considerable sport and excitement
was exr erenced. McGeoch sent in all his
brokers' TO take all Tie July wheat that was Of
fered at 81 .25 and 1870. About fifty thou
sand bushels were obtained at the former and
thirty thousand bushels at the latter figure,
and before the close he asserted that he would
take all the No. 2 that would be offered be-
tween that time and $3.50, the hour when the
corner would eliminate, at $l.50 or $500 if
sellers asked it. This made the shorts feel ex-
ceedingly blue, and they looked as though
they had just been called upon to act as pail
leareIs for "a
CoLORED FUNERAL.
At the afternoon session large business was
done, mainly in tho way of settlements About
1]0, 900 bushels of No. cash wheat on July
o ,ntracts were taken at $l.3O. Later in the
afternoon the market closed ut Sc cents for
August and SO cents for September. The total
amount of July contracts not settled with
McGeoch were only 900 bushels, which the
board of arbitration will be called upon to set
tie. AS McGeoch withdrew from the pit at
2:3O, he said
GOOD BYE BOYS,
the thing is over I've got even with you," re-
ferring to some tire: years ago when he was
pretty badly squeezed himself. The corner of
which McGench was the ruling spirit backed
mp by Mitchell and Plankinton, has made, it
is reported, over $500, GOO. 1t is certainly the
most successful corner ever organized. The
parties
REFUSING To SETTLE
are Ray & Co.. 100000; Kershaw Co., 1885,
COO; Dwight, Poole & Co., ,O00 Oliver &
Co., $4,000; Elmore & Kelly. $4,000. They
give assurances of an intention to settle upon
any basis that may be arranged by the board of
arbitrator and do not wish the delinquency to
be regarded failure. 1t is probable
that prolonged litigation win re-
suit in several instances. They claim they
had positive orders from their castomer3 not to
settle at above Sl.l0, and that their deals were
nargined to much higher figure than the
market reached. The general opinion is that
the board OF arbitration will, under the rules,
decide that
THE SHORTS ARE LIABLE
for the full price at which July clos ed to-day.
1t is understood that McGeoch considers Il
whe At he has hand good property, and
that he expects to sell it shortly at about S1.10.
There are some Indications of a
CORNER IN AUGUST WHEAT.
Barley was the principal attraction to-day.
The demand for all grades very good. Nc.
cash and August 81 bid. For September re.
ceipts of new were held at 10 with $1.05 bid.