Daily globe., 1882-09-29
New Wheat Coming i'm to Fill Septem.
ber Contracts.
THE JULY DEAL IN COURT.
The Case to be Appealed il it is De-
cided Against the Shorts.
WHAT CONSTITUTES A DELIVERY
& The New York Stock Market Unset.
tied and Buyers Uneasy.
CHICAGO.
Especial Telegram to the Globe. I


CHICAGO, Sept. 2S.-With the close of the
month and settlement day the cornered
markets take to themselves increased back
bone. September wheat which is owned
by McGeOch and few others, comes up
with a jump, despite the amount of cash
wheat being rushed Chicagoward to deliver
before October 1.-The easiness in this mark
ct has caused some inquiry, but it is now
explained, that uncle Peter merely stopped
to take breath. No. September touched
Sl.05 to-day in settlement and closed on
call firm at $l,O45s lO424, clear gain of
81 cents over yesterday. October i'm
proved II cents, november "a cents, and
year is cents. There was an active de-
mand on speculative account although
the receipts were heavier and foreign
advices were unfavorable, the local feel
ing was very strong, and the shorts were
anxious to provide for their outstanding
contracts. Winter wheat was also in good
demand, competition among buyers ad-
vancing the price 3 to cents, cash selling
on call at $1.O4@1.O44, spring followed
closely. gaining in about the same proper
tion.
The -four market was quotably steady.
There was a moderate local inquiry for
the best winter wheat and spring wheat
flour, generally the former shippers held
the same orders, and made few pur-
chases, but light offerings of desirable
shipping grades, both of spring and
winter interfered somewhat with the ex-
port trade. The market closed quiet.
Corn was active, and the feeling unset
tied within an irregular range of prices.
Trading was chiefly speculative, though
there were some shipping orders on the
market, and fair shipping business was
transacted. Foreign advices were unfa-
vorable, but the receipts were considerably
smaller and the shipments were fair. The
market opened weak, influenced by fine
weather, and prices 4@1ac lower, which
decline was followed by further reduction
of 115@1$5c for October and only
35c for November, these two futures
almost coming together in
price, while year suffered hardly any de-
cline. At this decline the speculative de-
mand became more active and prices were
advanced 24@13sc for the various futures,
and finally closed about lc lower for cash
and September, &c lower for October, sc
higher for November, and go higher for
year, than the closing figure on change
yesterday. No. 2 corn in fair request,
chiefly speculative.
On call the market was firmer and a
shade higher on the options after Sept
Oats were also firmer and slightly higher.
Il There was strong bullish feeling in
provisions and prices improved percept-
ibly. There isss a good shipping demand.
Pork sold up 80 cents on the near de-
liveries and ten cents on the November
and ~ cents Eon the winter futures.
Lard was stronger, steadier and higher,
advancing ten cents on the near futures
and the long futures also improving.
The latter are the indications of the ten
dency and of the market,
as Fowler and Fairbanks have
all the lard fer the next two months, and
will put prices where they like. They
bought everything offered during the re-
cent break, in the face of the improve
ment in prices. Fifty cent corn within
thirty days is freely prophesied. This, of
course. will force prices down. The young
hog crop is extraordinarily large, and
prices, except on cornered futures cannot
well be sustained many months. There is
an active scalping trade being done in
provisions, trading being largely between
the brokers, One firm bought 5000 bar
cels of pork at 25c, a nd sold it ten minutes
2ater for 35c making $500.
This was little business for big firm to
be engaged in, but when repeated time
after time there is good profit in it. The
frequent fluctuations give an exec llent top-
portunity for this kind of trading, and it
is taken advantage of by those who are
neither long nor short, but go in merely
for this profit from deal to deal. An un-
usually
LARGE TRANSACTION IN FLOUR
was consummated to-day ten firms engaged
In the Lake Superior mining interests be-
ing purchasers of $1,000 barrels of Mime
sofa -four, contracted to be delivered in
October. The movement of wheat to Chi
oago is on the increase, but the shipm ents
also are neaVy. TO-day's RECEIPTS W ere
224,e82 bushels, and the shipments 2O5,l 90
bushels.
THE INJUNCTION CASES.
The celebrated board of trade
%oases came up for trial before Judge Gard
nez In the supreme court to-day. The
GLOBE has already stated their nature. No.
2 spring wheat was forced up last July on
settlement day to $1.36, while regular and
red winter sold 20 to 80 cents below. A
number of persons who had sold short re-
fused to settle, on the ground that the mar
ket was manipulated or cornered. The
rules of the board and the laws of the
state forbid anything of the kind. The
shorts refused to settle at the closing
price for the month, and in accordance
with the rules of the board q committee
was appointed to ascertain what was the