Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-09-03

sales made to them by shorts for August
delivery. On the first day OF the month the
price OF August wheat was 81 10, and on the
last day sales were made At $1.4O. This ad-
vance of 81 cents per bushel failed
to attract to this city the receipts
the shorts and everybody else expected, on ac-
count of the fact that the farmers were
prices so high that they preferred to hold
the property rather than dispose of it.
During the past week the receipts of new
wheat increased, running up to 600 cars or
| more for one day, but previously the quantity
was not large enough to create much Of an
impression on the clique's bank account.
The receipts by lake amounted to 1886, 900 BUSH
els No. spring, nearly all OF which came
| from Milwaukee. The number of cargoes re
ceived was fourteen. AS stated above, the re-
ceipts by lake were checked by an arrange
msnt made by the clique, and large quantity
of grain which was expected from Minnesota
was detained there by scarcity of transport
tation room or other causes. 81
The foreign markets have generally ruled
strong, thus favoring the bull element here,
and the crop reports from both sides of the
Atlantic have been dubious, and on the whole
bad, indicating large diminution IN the
worlds supply of wheat this year.
|. IN THE FACE OF ALL THE STRONG FACTS,
which favored higher prices for the leading
cereal than have ruled for a few years past, the
number of people who have had little conf
dence in the ability of a band of operators to
carry their point to successful conclusion
on the heels of harvest has been legion, and
there has been no trouble, therefore, in get
ting out big line of shorts though it was
well enough known back in July that
a formidable combination had resolved
to run deal in the month which
ended yesterday. It was said also that no
clique of speculators could command the nee
essary amount of money TO carry such bust.
ness to success. But the sequel has proven
that the members of the clique have had no
trouble about getting all the money they
brains to conduct deal in city which was
| naturally inclined to be hostile to them, be-
cause they came from an outside place. The
abundance of idle capital has enabled these
parties to secure an almost unlimited amount
Of money at lew rates, and although various
rumors of contrary nature have frequently
| 1oated through the crowd, it is not known that
The clique has ever been pinched for funds.
In addition to the employment of four or five
| brokerage houses in this city, every one of
which has made snug fortune out of the
| movement, and would like to have it last for
ever if it were not for the tremendous pressure
of work, the members of the clique have had
repres entatives watching affairs in other cit
les, and an important connection in New York.
It may be said Chat they had their plans well
laid, and, though they were foiled in few in
stances, they have always contrived to wrig-
gle out of the difficulty before the crowd saw
THE LAST sNAG THEY STRUCK
was the shot wheat" scare, which possibly
led or forced them to decide to close up the
deal with the month instead of continuing il
through September and October, as 1t seemed
to many they intended to do about ten days
ago. The alleged shot wheat" has been load
ed into vessels and shipped away, and the an.
nouncement was made last evening that the
cash No. Q spring wheat In the Chicago ele-
yators would be delivered in fulfillment OF
September contracts to-day. The clique brok-
ers worked their forces of men all last night
getting everything in readiness for dumping
the cash on the market this morning. The
crowd generally expected this, and the feeling
was reflected in the market yesterday, the
September future being depressed, and at
the last four cents under the price Of seller
October, while q few days ago it COM
manded big premium. The boys were fear
full last evening that some wheat would be
given to them which was not in first-clsss
condition, but the owners spoke last evening
as if there was no danger of it. All through
change hours yesterday
MR.. PRESTON
stood little to the northeast of the wheat
pit, ready to settle with the downcast boys at
$1.3S, which had been the standing price for
week back. It is estimated that early yes
terday about 1 500, 900 bushels were outstand-
ing, but this was narrowed down one
half before adjournment, and at
night Mr.. Preston estimated that there
was not much over $50, 900 or 800 600 bushels
that had not been settled, and good part of
this probably will be Cancelled this morning.
As noted elsewhere, one man, q New Yorker,
of course, pleaded the baby act, and obtained
an injunction restraining his representatives
or the officers of the board from taking steps
for closing deals. Some more stuff was de-
faulted on, but the whole of it will probably
fall short of 100000. NJ. 4
On the Call board the highest price Of the
whole deal was paid yesterday BY the clique
brokers for $1,000 bushels which was unex
pectedly offered them. They paid for the
bunch 81 40, and are said to have squirmed q
little.
THE CINCINNATI CLIQUE,
which is now said to be combination of two
factions, who worked part of the time in uni
son, is supposed to have bought some q, 0OO,-
900 bushels of August, besides handling mil
|
he Handy branch, which was the biggest
me, owned over Is, 000, 900 bushels at one
time. In addition to the clique proper there
has been a great and grand army of s'tailers"
who have found the pool much kinder to
ihrm than the manlpulatOrs of markets here
tofore. These "tallers" have also made heaps
Of money, especially In longer futures, which
have yielded willingly to the wishes of the
bull workers. The Tribune has chronicled
from time to time the names of those who
have won fortunes by following in the wake
of the Buckeyes. Those who have lost have
Wisely thought it best to say little about it.
They give themselves away occasionally by
growl
MR.. HANDY
was met last evening in the corridor Of the
board of trade. He, expressed little inclina-
tion to be interviewed, saying he had talked
himself tired already. However, he gave
brief outline of the deal with his usual good
naturedness. So
He says he started into speculation in wheat
early in the summer, and lost about SIS, 900 at
first. BE was called home suddenly, and, re-
turning latar, YVES induced BY friend to take
turn again. Mr.. Handy says there were but
three men in the original ring, and all of them
were from points outside of Chicago. Rem
melsberg, who also took q dip in the thing,
he calls taller" though, if report be true,