Daily globe., 1882-09-29
TRADERS TRICKS.
A Decided Improvement in the Tone
Of the Chicago Market.
WHEAT, CORN AND PORK HIGHER.
New Wheat Coming in to Fill Septen.
ber Contracts.
THE JULY DEAL in COURT.
The Case to be Appealed if it is De.
cided Against the Shorts.
WHAT CONSTITUTES A DELIVERY.
Iae New York Stock Market Unset
tied and Buyers Uneasy.
CHICAGO.
Especial Telegram to the Globe.l

lSpecH1 10
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 jsmp, 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. 2 September touched
Sl.05 to-day in settlement and closed on
call firm at $LO458 lO43I, a clear gain of
80 cents over yesterday. October i'm
proved II cents. november ~ cents and
year rs cents. There was an active de-
maEd 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 $1.04@ 1.04A, spring followed
closely, gaining in about the same proper
ton.
The flour market was quotably steady.
There was a moderate local inquiry for
the best winter wheat and spring wheat
flour, generally the former shippers held
the same orders, and made a few pur-
chases, but light offerings of desirable
shipping grades: both of spring and
winter interfered somewhat with the ex-
port trade. The market closed quiet.
Corn was active, and the feeling unset
tied within an irregular range of prices.
Trading was chiefly speculative, though
there were some shipping orders on the
market, and fair shipping business was
transacted. Foreign advices were unfa-
vorable, but the receipts were considerably
smaller and the shipments were fair. The
market opened weak, influenced by fine
weather, and prices 4@1sc lower, which
decline was followed by further reduction
of 115@13$c for October and only
&c 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 A@1$sc for the various futures,
and finally closed about a 4ic lower for cash
and September, d C lower for October, &c
higher for November, and &c higher for
year, than the closing figure on change
yesterday. No. 2 corn in fair request,
chiefly speculative.
On call the market was frmer and
shade higher on the options after Sept.
Oats we're also frmer and slightly higher
There was strong bullish feeling in
provisions and prices improved percept-
IDLY. There isss a good shipping demand.
Pork sold up 30 cents on the near de-
liveries and ten cents on the November
and IL cents aon 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 for 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
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
rels of pork at 25c, and sold it ten minutes
later for Soc making $500.
This was little business for a big firm to
be engaged in, but when repeated time
after time there Is good profit in it. The
frequent Hactuations give an excellent op-
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 $4,000 barrels of Mime
sofa flour, contracted to be delivered in
October. The movement of wheat to Chi
cago IS on the increase, but the shipments
also are heavy. To-day's receipts were
224.G82 bushels, and the shipments 205, 1873
bushels.
THE INJUNCTION CASES.
The celebrated board of trade
cases came up for trial before Judge Gard
ner In the supreme coart to-day. The
GLOBE has already stated their nature. No.
3 spring wheat was forced up last July on
settlement day to S1.36, 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 committee
was appointed to ascertain what was the