Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-07-22

leglClmate manner, took advantage OF the
inflated condition of the market, brought
about by their own action, and sold here
and at Milwaukee large quantity for seller
July and seller for the year at prices ranging
from SO cents to $1.O3. This wheat they
concluded on yesterday to unload to buyers
on seller July and seller the year contracts,
and succeeded in delivering in this market
100000 bushels of the 3,OOO,O 900 bushels or
more they hold here, and SOC, 900 bushels, or
their entire stock in Milwaukee.
THE CHICAGO DELIVERIES,
began early in the morning and continued
up to the close of business at 2:3O P. M.
For few minutes before the bell struck
La Sale street presented spectacle of un-
common activity. A large body of active
young men, coatless and at racing speed,
were darting from Office to Office making
| their deliveries. These were made from the
office of w. L. Baker & Co. to Dwight &
Gillette, and from them to the general
trade.
The largest receivers were Lyon & Co.,
whose receipts amounted to 10000 bushels.
This amount, or large part of it, they again
parceled out to 5he dealers to whom they
had sold.
The unloading caused
GENERAL SCATTERING OF STOCKS,
though judging from the action of the mar
ket, a large part of the wheat fell into the
hands of parties who are either Indifferent
about disposing of it, or who had possibly
made arrangements for carrying it. It is
believed that good deal of wheat will be
shipped at once by parties who have been
waiting for this unloading.
The wheat delivered was composed al
most entirely of gram received during the
fall and winter, being winter receipts on
which storage expired on yesterday. The
storage on the bulk of the receipts sent in
on yesterday amounted to ten cents bushel,
of which eight and three fourths cents had
to be paid by the clique in order to make the
receipts regular under the rules of the board.
1t is understood that the clique have the
rest of their wheat here sold in seller July
and seller the year contracts, and intend to
deliver it at their pleasure in few DAYS.
The action of the clique in throwing their
cash wheat occasioned good deal Of COM
ment, the deal having been surrounded by
considerable mystery ever since its inaugura-
ton. The trade were disposed to regard the
unloading with some suspicion. It was
claimed the clique were endeavoring by this
move to depress the market, in order to give
them the opportunity of
TAKING FRESH HOLD
at low prices. August is one of the worst
months to commence q corner. It marks
the opening Of the new crop year and is
generally noted for large receipts of wheat.
But it was believed by many that as the New
Workers had plenty OF money, and had made
their Western wheat venture profitable, they
might be encouraged to take hold sgain
The local traders are Disguised at the New
Workers.. Their operations have killed spec
ulation and made hard times for the ssboys,"
who would like to see the rest of the clique's
wheat come out and the deal closed. This
is also the wish of the bankers here. The
withdrawal of the New Workers would leave,
the Chicago bankers to carry the wheat in
store here. The unloading on yesterday
created.
VERY LIVELY DEMAND FOB DISCOUNTS
at the banks, about $1,25O, 900 being Dor
rowed on wheat during the day.
WHEAT OPENED
on the morning call for July delivery at 88
cents and fell to 861 cents. On Change
the market, under "short'' demand and the
1dluIO VI Wuo6G O0AltoT6u Ou0I6U 1OF
sale advanced to 80 cents for July and closed
at 9115 cents. The entire. range of quota
tions on the August option was from 80,
cents on the call to 92A onyi Change, closing
in the afternoon at 80 cents. September
wheat sold from S91s cents to 91% cents,
and closed at 81 cents.
The stock of wheat in sight of the United
States and Canada is unusually large for the
close of the crop year. According to the
official figures of the statistican Of the New
York produce exchange the wheat in sight
July IL, was 11,7O2,OOO bushels, against
4,425, 600 bushels on the same day last year.
OF this, 3,649,O00 bushels were in Chicago;
/ ,397, 900 in Milwaukee; ], 800, 900 in Buffalo,
and 1902, 900 bushels aaoat on the New
York canals.
The clique bought their wheat at an aver
q &c price of
EIaHTY-F1vE CENTS.
Storage and other charges amount to eleven
cents. They sold for about q dollar, leaving
them four cents bushel profit, but they
made most of their money on option deals in
the spring.
The Chicago branch Of this deal was run
at first by j. x. Fisher & CO., afterward by
Smith & Lightner, Rumsey, Bros. & Co.,
Dwight Gillette, William Young & Co., and
latte.ly by w. T. Baker q Go.
In Milsc0sskee.
milwaukee Special, July 10.
The surprise of the wheat operators whom,