Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-12

before the arrival of the noon hour the
range OF prices was lower than that of
yesterday on Change. Later something of
an improvement occurred. A rather sharp
rise took place, and before the close the
early weakness was nearly recovered. The
trading was fair, bnt mainly in the futures
Tor pork and lard after this month, and
| also largely On speculative account. Pork
was irregular, and the days business.was
transacted at lower range of prices on
the average than on yesterday. The low
est prices of the day prevailed previous to
the noon hour. At the close November
ana the winter futures were 71a@
lUc lower than at the close of
change yesterday; year 1Oc lower
and October 25c. Cash was quiet. On
call prices ranged somewhat lower. Lard
sold OF again to-day, opening weak, then
gaining strength, and in the afternoon
weakening again. Cash and October were
| l21a @15 cents lower, but the futures
showed little change. There is difference
OF ideas as to the cause of the decline in
hog products. Many operators fear the
people controlling this market are letting
| 1t down little for the purpose of catch
ing on again, and pinching the gudgeons.
| At the end of the month there will be no
pork here of any consequence, not enough
to make up half dozen big lots.
At the beginning of the month there
| were only $4,000 barrels in store, Over
l2,O0o barrels have been shipped out, and
| II the pork that has been shipped and sent
out as meat is deducted, it will be found
that even now there are not over 10000
| barrels on hand. None, of course, can be
made this month. There were only $4,000
| tlerces of lard here Oct. /. It is saiu
that N. x. Fairbank is making refined lard
| fast enough to use up this before Nov l.
The hogs now coming III are not
| averaging seventeen pounds OF lard to the
| animal. Armour g. Co. make almost as much
| refined lard as Frirbank. 1t it easy TO SEQ
| that there will be no surplus of hog prod
| ucts here Nov. I. It is stated that both
tairbank and Armour desire cheap hogs
just at present more than they do dear
! products, and this is the reason of the de-
cline. sharp rally is prophesied TO &C
cur soon, to be followed by q larger break
of prices than is expected during the
| month of November, when 1t is thought
| the receipts of hogs Will be phenominaIly
large. High prices are then expected 10
bring in the young crop with rush.
| ANOTHER WRECK
caused by the passion Tor
grain gambling developed to-day by the
| arrest for embezzlement of Franklin L.
Chase. well known and able lawyer.
Chase, who is chairman of the Democratic
| county committee, and q brother of :
| uel Chase, North town en-
into the law Office of the late Judge Norton
when boy, and grew up as his protege.
Upon the death of the judge, his widow
who had perfect confidence in Chase.
placed $4,000 in his hands for invest
| ment. The money was a considerable
portion of the property left to her and her
daughter, Mrs. Gen. Gorrence. Suspicious
| that this had been misappropriated are
| to-day verified, and the arrested man ac-
| knOwiedges to have lost on the board of
| trade, besides his own fortune. money be-
longing to numerous clients land thought to
| amount to $4,000. He is SO completely in
solvent that even his elegant residence
! furniture and horses are mortya-ed to
their full value.
Some person with vivid imagination
has discovered
GIGANTIC Plot
whereby the wheat markets of the entire
country are to be put at the mercy Of spec
ulative manipnlators. The scheme
lis for certain strong bull
houses and parties in Chicago
anu New York to send into the country and
buy mp all the wheat they could lay their
hands on. OF course it required AL i'm
nense amount of money to do this. for
besides the first outlay in the purchase of
the wheat, there was afterwards the carry
ing charges to look after. But the parties
who are working up this grand coup are
men who do things on grand scale. and.
besides having large capitals of their own.
they are backed up by other capitalists
and banking institutions i'll the two cities
named. Among the firms and individuals
who are said to be inter
ssted in the scheme are the
Armours, McGeogh, David BOWS g. Co..
and Kershaw d Co. Behind them it is
said, looms up certain person who com,
mands not alone countless wealth. but rail.
road and steamship control that will be
powerful aid to the manipulations. This
is Vanderbilt. These men are not alto
gether buying outright all the wheat they
can find, in many instances only advanc-
ing through their agents funds to the
farmer and country shipper to carry their
wheat until the command is received to
send it to market. The scheme is
supposed tolbe to hold the wheat back ip..the
country only letting driblets out from time
to time until certain alarm is excited 1T
the continued small receipts, and start the
shorts to buying. Even now the present |
receipts at the principal markets are so |
small when it is considered what to mt. |
fui harvest was supposed to be gathered. |
that the question is frequently asked: is |
1t possible that the whole country j. mis-.
taken, and that the wheat crop OF 1882 was