Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-08-08
ON THE RAMPAGE.
Yestertlays Experiences In Wheat, Oats.
Corn, Rye, Etc.

Corn, Rye, Etc.
[Chicago Tribune, 6th.]
Everybody is seized with the mania of
speculation" said a prominent board of
trade man. Gall over the country the
telegraph offices are besieged by people
who are anxious to send orders to Chica-
go. The craze spreads like wildfre.
There's the ladies' bucket-shop; it has a
bad attack of the contagion, and the open
board has at last been obliged to build q
corn-pit. The tailers are legion. They
are catching On wheat, lard corn, tino
thy seed, eats, pigs"
lsThe wheat clique" said an old oper-
ator, "are helped by outside news. The
Eastern and foreign markets are higher,
and private cable says the French har-
vest is turning out poorly, and the Rus
sian crop has been injured by too much
wet weather. Wheat is advancing
on It's merits, and 1 wouldn't wonder
if it would have been higher than it is
now if 1t were not for clique manipulation.
The winter wheat is also said to be $3.50,
and there are indications of rain while
the farmers are in the midst of the har-
vest. 1t is bull day. The combination
is said to have put Young at the helm in
the Milwaukee, and that market has ris-,
en- to $112 The receipts here are light,
don't appear to be anything for the
clique to worry about"
s'rhe syndicate" said another, "are
buying September wheat, Probably af-
ter they have boosted it high enough
they will turn sellers. Some say they
have gone into the diary business on Sep
tember, and are drawing the milk out ef
the short sellers. There is seller
the year braced up to $1.15, with the
clique ready to sell it as a protection
against possible accident in their
August deal. The trading in this month
was considerable in settlement at $1.2lI
al.22 The August shorts seemed to be
a little scared. The clique have plenty
of money and strong men with abund-
ance of nerve. There is no doubt about
that, but don't it sound natural
to hear Joe Mcdonald talk about 81 for
wheat
Corn was On the rampage again yester-
day. Prices advanced 131a2 cents, seller
September, touching 55% cents and seller
October Sc cents; then they sold off 1a111s
cents. The bulls had the inside track at
the outset, but they had to give way to
the bears when the clouds threatened to
close together and deliver smart rain.
"The drought" said fellow who felt
little bearish, "1s a humbug. Why,
didn't it rain all over Iowa two weeks
ago9 Didn't showers stop the races
about ten days sincei The hot weather
may hurt some of the corn, but it can
stand good deal of heat so long as heavy
dews are deposited at night. The ceun-
try operators who have had corn sold for
future delivery against the contents OF
their corn-cribs have got scared at the
rapid rise, and bought in their options,
keeping their corn on -the-cob. The ad-
vance is increasing the receipts, and a
good rain would probably knock prices
down 2a3 cents bushed. Everybody
feels streng, though, and the bulge has
made heaps of money for some folks, and
left many a poor wounded duck IN the
slough. shall buy again after the price
falls off little"
Oats sympathized with corn, selling to
33%a34 for next months delivery. CA
funny thing occurred in OATS" said an
operator who is going north after the
Manitoba wave "The short sellers were
terribly anxious to fill in and get out. In
their haste they bid up seller the year
oats to 333S, letting August
stand at 33. Their eyes were
not opened until party had purchased
lot of August oats at thirty-three cents,
and sold them out fer the year at Is OF a
cent profit. Then the crowd saw August
oats were deliverable on year contracts.
They laughed at their own stupidity, and
seller the year was soon at discount" I"
Rye jumped up ~ cents per bushel,
closing at 81 cents for seller October.
"Corn, shorts, and st. Louis are bulglng
it. Those Southwestern fellows haye a
lot on hand they want to close out with
out being cut of pocket. That is about
the sense of the meeting, as l would ex-
press it,"
They still say Armour has the lard deal
but is not quite ready to give it twist.
HAY leaned to the bull side yesterday.
Schuetzenfest Prizes.