Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-13
Cereals Unsteady, and Fluctuations
Have Wide Range.
SUPPOSED CAUSE OF THE BREAK.
Something More About the RumOr Of q
Syndicate to Corner Wheat.
KEENE AND VANDERBILT IN 1T.
Prices Of Pork Generally Well Sus.
tained-Thc Stock Very Low.
Especial Telegram to the Globe. !

Especial Telegram to the Globe1
CHICAGO, Oct. 1.-THE business trans
acted on change to-day was again very
large, there being an active movement in
nearly all markets, mainly on speculative
account.
Wheat opened higher, but the closing
figures of regular at 10 o'clock showed q
decline of go Bc on those current twenty
four hours ago. In the afternoon this de-
cline. was increased 3s@4c. Corn was
quite active, but very unsettled, and finally
closed at nearly yesterdays prices on the
near options, and fraction lower for
the winter futures. Oats sold up 1@Xc
on the board, but dropped off again in the
afternoon. Rye was steady at yesterdays
prices, and barley very firm and &c higher.
Provisions also were frmer, mess pork ad-
vancing 20@ 25c for cash and October, and
&c for November and January. Lard was
zoe higher for cash and October, and 21l@
sc better for the long futures. Both
however eased off on call, when the tend
ency was downward through the whole
range of markets. The recent decline in
lard is laid to the fact of there
being almost no buyers at the prices
which have been asked. It is equally true,
however, that there are no sellers to speak
of. What little lard is sold is thr own ont
by commission men who have their lard
from the country, and are disposing of
property that they have been holding for a
long time. This class of operators is
small. Regular wheat opened quiet and
firm, selling up3sG1sc over the closing
figures at 1 o'clock yesterday, but after
ward became easy, largely in
sympathy with the break in corn and
fell off irregularly about 1c; improved
a trife, then fuctuated within a narrow
| range, and at the close October was very
nearly 10 lower than it closed yesterday
November &c lower, December 10 lower,
and year Nc lower. The receipts are quite
light, being only 176 cars of all kinds. On
call further decline of 15@4c was ex.
perienced, October closing at 9324 093T
About million bushels were sold on the
call board. A year ago October sold at
S1.31A. Winter and spring were in fair
demand and steady at about yesterdays
prices.
The flour market showed gratifying
improvement in feeling, if not in figures
and the tendency to shade prices was done
away with for the time being. This arti-
Gle was in good demand, and the trade
done was fair, and would have.been larger
but for the limited offerings of desirable
grades. There were more export orders
on the market, and choice spring and win
ter wheat fiours of good color were in do.
mand. Local jobbers bought moderately
THE VANDERBILT SYNDICATE. .
A morning paper ventilates al
great length to-day the
plans of the alleged Vanderbilt syndicate
to scalp the near futures in wheat. 1t &C.
cuses Keens and other capitalists with be.
ing parties to the scheme, and piles up
capital to back it sufficient to corner the
market all winter and buy half the wheat
in the country if necessary. It would be
natural to suppose that Keene's memorable
experience in grain manipulating, and his
hair breath escape from being swamped
thereby, would keep him out Of su oh
deals. Very little stock is taken
in the affair by the conservative
operators, who regard it as a rumor float.
ed by the bulls to create panic among
the shorts, who are numerous enough in all
the markets between October and January.
Still, there is nothing to prevent Mr.. Van
derbilt from specializing in wheat if he so
wishes, and there is no doubt but he could
run a most gigantic corner if he set out to
do SO. Capital has the little fellows at its
mercy in these matters, and its concerted
use can and has done stranger things on
change than is set forth to be accom-.
plished in the Vanderbilt story.
TIE JULY DEAL.
The settlement of the July wheat con-
tract continues. Since the injunction
was dissolved about million and half
bushels have been squared up. L. Ever
ingham & Co., who stood in the gap made
by defaults, settled 100000 bushels yester-
day. Parties who are in position to
know say there is strong disposition to
settle up these July trades and get them
out of the way. The September contracts
are also being closed up.
THE CORN PIT.
The trading in corn was very
heavy. Large lots we're sold. There
is, except on the part of the Baker Wright
crowd, a disposition to get rid of the con-
troversy. Lester can scarcely have any
longer an excuse for not settling, for he is
noun ruppinr q corpor in Novay,,bar oor,,