Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-06
Dizziness Conspicuous on the Chicago
Board Of Trade Yesterday.
A NARROW RANGE OF PRICES.
The Work Of the Manipulators in the
Corn Market-PrOvision Firm.
AFRAID ON WESTERN UNION STOCK
Conflicting Reports as to the Intentions
Of Gould and Vanderbilt.
CHICAGO.
Especial Telegram to the Globe. ]

CHICAGO, Nov. 4.-To-day has been a
quiet one on Change. There was neither
any sharp advance nor great breaks to Gre
ate an excitement among the bulls and
bears. Wheat business was transacted in
the corn pit. Then the market was quite
active, but at the close was shade easier
than on yesterday, except for the deliveries
most sought for, November and January,
which were frmer. Dealers generally are
afraid of selling short on this months
corn. Wheat again lost strength and
sold off, another notch, and pork
settled down again, lard,
however, being close to bedrock, improved
a trifle instead Of following pork. On the
board it was active and unsettled, and at
the close cash was &c higher than it closed
at 1 O'Clock yesterday, month about 10
lower, year 1ac lower, January 4c higher
and May unchanged. The market was
rather weaker at the opening, and Novem-
ber fell q C under the closing figures yes
terday, and year fell Ssc, then reached and
sold about &c, again weakened, then fuc-
tuated and closed rather easy.
The immediate future of corn
is .problematic, depending
entirely on the receipts and the result of an
attempted manipulation. An attempt will
be made to bull this market next week.
but if the receipts are large this will fail.
and drop will result. 1t is reported that
the errand of Jno. B. Lyon in New York is
to engineer that end of the present opera
tons in this market The announcement
should be warning enough to all persons
not within Lyons circle to steer clear of
this grain until the willy operator gets
through with it.
For good many years he has been rec
ognized as very clever manipulation Of
corn in this market. He does not en-
gineer corners like Armour or Handy or
McGooch. About ten years age, it is true,
he run wheat corner and failed, but since
then his methods have been different. His
favorite tactics are to give out the impress
sion that a great deal is being run, boom
the property and then unload on the
crowd, which has been made bullish by
his false reports of a corner. There
are always few innocents lucky enough
to make money out of Armour's
or Handy's or McGeoch's speculations. 1t
would be hard to find anybody outside of
little clique who ever made any money
out of j. B. Lyons scalp. 1t is said the
present corn operations have been placed
altogether in charge of Lyon. He may or
may not have an interest in them. It is
not an unusual thing here when number
of houses are acting on the same side of
the corn market, for them to pool their
issues and give over the entire control of
their speculation into the hands of this
operator. Three years ago Rumsey Bros.
J. Z. Fesler & Co., Smith & Lightner, all
of whom were largely long of corn, met
and invited Lyon to take charge of their
property, to boom it for them if he could.
He insisted upon being granted a share in
the deal, and this was conceded. He ad-
vanced the grain 80 10 40, and unloaded
not only all the corn there was in the eIe-
vators, but options on almost 10000, goo
bushels. Very soon after the load was
shifted into the crowd, and prices
dropped back again to where
they were started from. The
feeling is bullish here ON November corn,
and about everybody expects, too, that the
year option will be some advanced. But
while the majority of traders think that
there will be no new contract corn to de-
liver this month, a majority on the other
hand, believe thai there will be plenty of
No. 2 to deliver in December and on year
contracts. Of all the new crop yet sent
into this market none has inspected as No.
2grade, and the boys are anxious to find out
if this is going to continue Indefinitely. The
only car loads that inspected up to grade
were several car loads consigned to Geo.
NJ. How & Co., from Kansas, which were
of fine quality. These are the first car
loads of Kansas corn yet inspected as No.
grade.
Regular wheat to-day was quiet and
weaker. but ruled tolerably steady at the
prices current. But few outside orders
were received, and trading was chiefly on
local account. The receipts were fair, and
shipments larger than yesterday.
while the market advices from other
points were without any special
change. Prices ffuctuated within a range
of about &c, and closed sa@1sc lower
than yesterday. The visible supply of
wheat shows an increase over that of last
week of nearly two million bushels, and
receipts are continuing larger each day.
Spring and winter are both dull and easy.
Flour also ruled dull. Shippers held but
few orders, and were Indifferent about
purchasing. Prices we're quotably IN
changed. Oats we're steady and showed
no material change. Barley dali and
nominally easier, and rye quiet at former
prices.
There was fair business reported in the
market for hog products, but the feeling was
unsettled and prices irregular. Early in
the day the market was comparatively
steady, but the offerings were largely in
creased and lower prices were accepted
during the middle of the session. Toward
the close the market was steadier and
prices improved, slightly; shipping dema and
fairly active. The receipts were fair and
shipments liberal. Foreign advices rather
unfavorable to sellers, and the Eastern
market without material change. The de-
g., ~; L.