Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-07-25
NO FOG.
NERVOUS MARKETS,
now the Big Gamesters are Running
Things-A Good Time for the Country TO
Let Things Alone.

HOW the Big Gamesters are Rupnino
Thtngs-A Good Time for the Country to
Let Things Alone.
lChicago Times, Saturday.
Yesterdays operations on the board of trade
were snch as fully to illustrate the scared and
nervous condition of the market. As com
pared with the deals of the preceding day the
trading was comparatively light, not much
property being offered, but all that was pre
senfed being freely taken at the top of the
market. Although some good judges called
the deal little everstrained, their opiniop
| was rather credited to their liability tn he
short rather than accepted as their sincere
conclusion, for it was seen early in the dav
that the corner engineers were amply able TO
keep prices as high as they wanted Them The
evident determination of the leaders of tba
deals to concentrate all their strength
and their money on the near options has
alarmed some OF the largest bidders, who
were disposed at first to believe it was wbat
was called "tailOrs' Market" and they are
now too apprenensive about trouble i'm
mediately ahead to sell bushel of wheat or a
barrel OF pork they can control.
"TAILoRs'" MARKET
is what operators call an upward bulge,
caused by imitation, which is the result Of
thousands of outsiders in town and country
taking hand in the deal. The rise brought
about by this dabbling in options by the TAI
ors, the tinsmiths, the butchers, bakers and
the rest of the multitude is always such a
temporary affair that the large operators lei
the buyers have all they want. or, as they ex.
press it, "giye it TO the boys" until
the invetable drop comes, and
then the outsiders or tailors, get
hugged to death. But the present deal is no
such common scrub race, and the strength
and determination with which the August
options are held up strike terror into the
minds of the ''shorts," and the comparatively
small sales of yesterday, 100000 bushels Of
wheat on the call, against 100000 bushels
on the preceding day, show that even the
strongest houses on the board did not dare TO
fool around with the leaders Of this deal as
they would amuse themselves with the ''taIl-
ors." It is still asserted that Armour is hold
ing up one end of the August wheat corner
and the Cincinnati combination the other
though it Is generally believed that the last
named clique have got the most money in the
deal. x
MESS PORK.
McKeogh holds his mess pork yet for the
reason, 1t is said, that he cannot very profta-
bly, Let 60, and II is believed that Armour has
made combination with him on ribs, and
into a corner where there is neither a chance
quietly to unload at profit, nor an opportun-
ItY to advance with caution. A gentleman
thoroughly qualified to speak understanding
y, on yesterday said that there was now
widespread impression that Armour and Nc
Keogh had adjusted their differences and made
up, in provisions; that Fowler Brothers and
Armour had done the same thing in lard, and
hat together the combinations were forcing
The market forward to exceptionally high
prices, and that to avoid being smashed
he only thing to do was TO hold every
,ushel and barrel of property, and "stand
rom UNDER" The difference between the
losing quotation for August wheat. Sl.196,
nd the September option, Sl.164 excited a
.ood deel of suspicion or desperate manipula-
ion, as it was claimed to be too much of a
ifference to be legitimate. That the ring is
HOLDING UP THE AUGUST OPTION
Or the purpose ofcoyering their sales in the
eptsmber and October options is view that
onnd free expression after trade on yesterday,
nd the large operators out of the ring grew
lmost crazy with excitement and apprehen-
MM MM 1kfcisssf fs 'ts. way aG t what they would.
Isaster were almost certain. This feeling
,sulted In disposition upon the
art of even conservative leaders to join in
he general craze and bull everything in the
~
rice. Many are now perfectly wild with the
otiOn of being on the verge of a big specu-
ative boom; and, basing their presumptions
argely upon the uncertain reports about the
rops, they are stimulating their fancy with
visiOns of wheat at $1.25, $1.3O, or even S1.40
,,r bushel; pork at $22 per barrel, and lard al
g to IA cents per pound. On the contrary.
here are some of the skeptical old heads who
mile at the talk Of such prices, and cynlcally.
Isk who are to be the purchasers of property al
hese figures, and jocularly ask the pres
mt holders of property what they are going
% do with it? These gentlemen are skepti-
al about the ensuing Eutopia of high prices
md large profits for the sanguine bulls,
md theyschill them with uncomfortable pre-
lictions Of that day when the men who run
he corner shall trample them believing ana
nd bleeding in the dust, carrying off their
lorns, boards, tails, hides, and all that maketh
Them proud in the tall green (back) grass.
New YORK, July 22.-The spectators in
wheat were worse mixed thar7the markets
his morning, and like prices were changing
very five minutes. An operator sold August
t 81. % and went to his office, and within
I've minutes came back and bought it back al
4 .28, and in few minutes more sold at
,1.28&. HEDGE, a man was bear one minute,
bull the next, and so badly mixed that hs
vas afraid to be either before the third turn.
Dispatches from Chicago to houses in
lose correspondence with the clique there
ay that Lester and the "Cncnnati crowd"
lnloaded yesterday, and that Armour is hold
ng the market to-day, as he is not yet out OF
us cash and August wheat, of which he is
aid to be heavily long. He is therefore cred
ted with bulling it to scare the shorts ia AR-
gust, as the clique have in July, before the
md of this month, and then "dump' his cash
wheat here and at Chicago overheard on the
st of August, and break the market down to
get in another bull movement in September,
IF which he Is said to be also long. The clique
n July here are all out, aud they have made
good thing out of well handled deal.