Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-04


all the contract wheat here, and if so dis
posed is in position to run another
squeeze during the present month. Only
one big September short seems disposed to
make trouble and he will probably
come to time. It is said that the second
break in prices has been so severe, as to
send corn elsewhere, particularly that on
canal, which will go to Peoria. Hwas also
said that parties who have been investi-
eating quietly are satisfied that the COM
ing crop will not turn out nearly so large
as has been predicted. This tended to in
crease the shipping demand, ,and it was said
that syndicate was buying for Novem-
Der, which may also have helped to in
crease the tendency.
SMALL FAILURE.
W. 81. Hatch, an open board commission
man, suspended yesterday, and the an
nouncement caused excitement in the
alley. He has been doing a heavy
business, and at one time was worth con-
siderable money. Short wheat for Sep
tember delivery is said to have caused his
failure. He claims that his assets are
larger than his liabilities, while the latter
are small. He is said on the open board
to have failed for about $4,000.
THE NEW BUILDING.
The board of real estate managers held
meeting and accepted the bid of the Union
Iron works for furnishing a batch of iron
for the first floor of the new board of trade
building. The estimated cost of the con-
tract is S691. They have figured out that
the building will take 100000 cubic feet
of granite at a cost of
S3S4,64o. The eastern quarries
are hard at work turning out the stone,
and it will commence arriving here on
trains soon. The settling clerks are all
agog in anticipation of the corner stone
laying which it is thought will occur
soon.
THE MEMBERSHIP FEES.
The proposed amendment to the
rules making the price of membership
$4,000, has been posted the required ten
days. and will shortly come before the
board for discussion. The effect of post
ing this amendment has been a stronger
feeling in memberships, which have sold
recently at $3,SOO, while ten days or more
ago they were quoted at $4,000 to $3,5OO
1t is noteworthy, however, that
there has been no such sharp
inquiry for memberships as there was
when the proposition was posted to raise
the price to $4,000. This is considered an
indication that majority of the members
are opposed to raising the initiation fee.
Some of those who signed the petition are
now sorry they did it, and are not likely to
vote for the amendment. The older mem
bers and people generally seem to think
that the price is now high enough-in
fact, that is all board of trade member
ship is worth, and any higher fee will only
tend to keep new business firms away from
| here and build up smaller institutions of a
| similar character.
BUCKET SHOP VICTIM.
| Another victim of the bucket shop is
j. W. johnson, editor of the Watseka Ga
zette, who was arrested here yesterday in
one of these instltutsons by the sheriff of
Iriquois county. He up to few months
ago was prominent citizen and politician
OF his county, being pressed at the time of
Gartield's death, as a candidate for minis
ter to Sweden. Suddenly he disappeared,
and forged paper aggregating $1,000
turned up. He had lost all he had, and
this amount too, in grain gambling. Yes
terday he was found in this city ingenious
ly disguised, and in bucket shop.
The telegraph tonight announces that
he escaped from the officer who arrested
him by jumping from the train while in
motion. Should he make good his escape
he will henceforth be wandering out
cast.
MINIATURES DECADENCE.
| Apropos of Deacon Hobbs lament late
ly noticed by the GLOBE, are the following !:
In Milwaukee yesterday. Secretary
Langston, of the Milwaukee board of trade,
remarked, of that institution, that ':to
say anything about our business now is to
confess that we are dead. The trnth is
that Chicago is taking all the business
which used to come here, especially in
wheat. and there isn't enough comes
to Milwaukee now to supply
the demand of the local mills Where
there used to be 100000 and 100000 bush
els received here daily there are not 90
900 now, and the quantity is steadily grow
| ing less. All our customers are going to
Chicago, the natural tendency of grain and
provisions being to center there as stocks
do in New York. One reason why we are
losing this business is because we have such
large foreign element in our population,
and they are not given to speculation as
Americans are. They are more quiet and
conservative and don't whoop 'em up as
Americans do.'
CORNERS IN ST. LOUIS,
In st. Louis the abolishing or amend
ing of the corner rules on grain is the
question of the hour on change, and
grows in interest as time passes. There
appears to be strong feeling in favor of