Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-21
wHkAr LOWER TnAN IT'S REAL WAIVE.
The Farmers Holding it for Fufurs
Improvement.
A COLLAPSE OF SPECTATORS CERTAIN.
GsgIG aR@ Vanderbilt at Gross Pur-
poses or Railroad Stocks.
CHICAGO.
lspeclal Telegram to the Globe. |

CHICAGO, Sept. 20.-To-day has proven q
repitition &C yesterday on change, except
ing that the panic of the shorts has now
extended to the near futures on wheat,
pork and lard. They realize that in their
scare ct the unexpected tumble on corn,
and the strong sympathy of other products
they laid themselves wide open, and are
Gying to get out of their pre- dicament as
best they may. The extent of their recent
unloading may be judged by the magni-
tade of the operations during the past few
days, which have been almost entirely
purchases 80 cover. So great has been
tue excitement IN The options largest
oversold that every thing else has been lost
sight OF. Long futures in all products ex-
cept corr are G0ad, and cannot be made to
snow any signs CT life. Everything cen
ters In September, October and November.
the present month Of course monoDolizing
&e largest part of the
attention of the operators. Septem
Ter corn Is body cornered, and October
can easily be. The well-groun3ed fear
Chat those who have the former months at
TO the latter, fills the bosoms of the shorts
with conformation, many of them being
equally interested IN BOTH and
having all they can do
to get out Of the FIRST dilemma without
benkrupting themselves. Fortunes will
he lost and made ON September corn, its
fluctuations being unprecedented. At the
beginning of the month it was worth 74c;
q week ago 60c, and to-day it sold for zoe
again. Where 1t Will be settlement day,
remains for the triumphant bulls to decide.
Tae market opened to-day nearly 20 higher
shan Is closed on the board yesterday, part
OF the advance, however, having been
established yesterday afternoon The
cloudy weather and cooler temperature
2ded the balls in keeping up the price.
Later it declined 2@fSo for the various
futures and 1401Hc for year. rallied
again. advancing 1@125c, huctuated and
finally closed about 2g2Ac higher for
cash and September, 24@2ssc higher for
October, 21ao higher for November, and
i4c higher for year than the closing fig
ures on Change yesterday. No. 9 sold at
66L@G9Mc and closed of about 693kc.
Rejected sod at64065c, and closed at Csc.
September was in demand with light Of
ferings. e huctuated between 6S1l@
69Tc. closing at the latter figure. Octo-
Der was active, selling between 65%@
6626c. closing at 6621c. November ranged
from 61s to 62e, closing at 62M
@63c. Year closed as 555sc, January at
505c, and May at 52Hc. On call srices
stifened still further, the long futures
showing some irmness. Sales were
10000 bushels September at 69%m
zoe; 100000 bushels October at 66& @67c:
100000 bushels, November at 62A m63c:
100000 bushels the year at 65k@55Ac;
10000 bushels January at 5O58@51c; 2lO,-
600 bushels May at 52A@5sc. A total of
over half million bushels.
Among the bulls buying most heavily
are old Hatch and Kershaw.
They have been taking blocks of twenty
i've, fifty and even one hundred thousand
bushels at time, absorbing between them
she past two days over a million bushels.
To-day, Kershaw, after the closing of the
call board, unloaded lot of his recent
purchase on the curb, breaking the market
squarter of cent. Several of the tailers
on who have been following in the wake of
the big operators pushing the corner, be-
came scared to-day at the prices reached,
and fearing break, sold out what thew
had been buying, making a handsome
margin, but every thing offered was eagerly
taken and the market showed no
sign VIM Young d Co. have been large
sellers, buying, it is said, at last weeks
figures and netting consequently a large
SUM. In explanation of Kershaw's move.
1t IS stated that he and the other bulls in
she corner wished to break the market for
day, gobble everything up again at a
lower figure, and then hold a larger amount
than ever to the close Almost anything
Is possible in the present feverish condi-
don of the corn market.
Wheat continues very active, and steady
and firm feeling prevails For September
Ghere Is good demand from
shorts, while the more deferred
futures meet with only moder-
ate inquiry, and at times ruIe
quite dull. The receipts of wheat, both
spring and winter, were smaller to- dav
Foreign adviceS were of an unfayorabIe
tenor, but the markets abroad at present
are having but little influence on the local
trade. Prices fuctuated within a range
OF R0Bc, and finally closed about 11c
higher for September, and 493Sc higher
1or the deferred futures than the CLOSING
ngures on change yesterday. This is dull
TO the pressure to fill September shorts
McGeoch has got hold of the deal AGAIN
and the boys are putting in for it lively
1he receipts OF wheat not being
more IMAM half OR two thirds
OF what they were bargaining
for. The pressure was Increased bv tbe
Tacs that lot of wheat that had been cold
TO arrive here failed TO pass grade. The