Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-12-08

AbOnt It. Wheat Goes D0lU5 and He Con-
stnues to Take 1T In What Ruftss Hatch
Says--He Is Not IN the Deal, But Thinks
Aeenc Has a Good Thing.
Chicago Times, Dec ST.
Affairs on the board of trade on Yesterday
were dpller than they were the day previous.
There was no excitement on the board, and
little or no talk about Keene's deal, but one
thing the "boys' are anxious about, and that
is sight of the great Keene. He would
have an ovation if he would go on thu board,
and the ''boys'' will be fearfully excited
about it if he goes back to New York with
out exhibiting himself. He called on Mr..
l.. J. Gage at the First National bank on
yesterday, and in the course of conversation
said he was likely to remain here several
days longer.
The tendency of the market on Yesterday
was downward. Prices ruled about half q
cent lower than on Wednesday. This steady
decline confirms what the Times has already
said, that it is a part of Keene's plan to pre-
vent any disturbance of the market so that
he can go on taking up the current receipts
at as low price as possible, and not even
create any excitement in the Milwaukee mar
ket.
The wheat receipts on yesterday were 1O1
cars, or about 10000 bushels. This was
picked up by the ring brokers at S31a to 1891
cents.
Ramsey Brothers & Co. sold 20 900 bushels
on Change yesterday. This was we'll under
stood to be for effect only. The ring bro
kers, however, didn't repeat the operations of
Tuesday and Wednesday nights, that is, de-
pressing the market just at the close, SO that
they could pick up wheat next morning at
low figures. Perhaps they thought it would
hardly work three days in succession.
Speculation was very quiet all day.
llcly known to have brought from the East
is, as has already been stated, 81, 100000.
But it has become known that this is not the
whole sum. Well-informed opinion places
the aggregate at $2,6O0,OO0. Keene has gone
into the campaign with full chest, and it is
quite certain that his plans are for long
deal, and that he has no desire to disturb the
market for the next month or two.
Keene's ability to keep his own counsel
excites the admiration of the members of
the board, but the thing is really too quiet
and protracted to suit their tastes. They
think it would be good deal better for them
II slack Sturges or some other local expert
IN corners were operating this deal. Under
such circumstances the deal would be lively,
at least, and if more money was lost than
is lost now more money would be gained,
also.
keene and his brokers have been criticized
for their lack Of wisdom in letting two or
three million bushels of wheat lie here all
winter, when they might have sent large
part of it to New York before navigation
closed. Had they done that the wheat would
have been just where it was wanted
whenever an opportunity to send it
abroad occurred. AS the thing has been left
an interval of fifteen or eighteen days must
elapse after navigation opens in the spring
before the wheat can be got to the seaboard.
1t has been reported that Keene had char
tered sufficient number of vessels already
to carry 1000, 900 bushels of wheat to New
York just as soon as navigation opens in the
spring, but this appears to be a mere yarn.
The statement that Keene had insured his
wheat for four months is confirmed. The
insurance was effected through the Queens
insurance company. 9"
reporter for the Times last evening
called on Mr.. Rufus Hatch, the New York
gentleman who is understood to be backing
"Jim' Keene in his extensive wheat pur-
chases, now quartered at the Palmer House,
but as he was being entertained by num-
Der of gentlemen at a champagne supper in
one of the parlors, he declined to be inter
viewed.