Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-19

will be laid over until January wheat is
considered cheap property at present
prices, which are lower than millers have
to pay, even though they be much nearer
the producers.
Advices from st. Louis mention the
arrival there to-day of a car of new corn
from Kansas, which easily grades No. 2.
It was snapped up for t75c by somebody
who wanted it. This is thought to indicate
better grade, Or rather better
matured corn, than was expected from
that section, and may denote an earlier
marketing of the product by two weeks.
than was expected. Frost, instead of be-
ing feared, is now prayed for to harden
and mature this grain. The afore said an
nouncement posted yesterday shows that
late Tuesday evening there was an acgre-
gate of 305,365 bushels of all grades Of
corn in the Armour elevators in this citv
The sworn statement of the elevator pro-
prietors made to the register shows only
$4,000 bushels in store at the same date
or $4,000 less than the official
statement. Inasmuch as mucb
attention has been called seyera,
times to like discrepancies with no result.
it would now be in order for the board Of
trade to ask warehousemen for their state
ments, and post them for the information
OF members. The tabular statement made
under the red tape system which rules in
the registers Office could then be regarded
as literal curiosities.
At recent meeting of packers to con-
slider the water question, the following
estimates of hog receipts in this city for
November were made: Singer, 612,OOO;
Armour, 100000; Higgins, $4,000; At.
kinson, SOL, 900: Murphy, 55O,OO6; Cudohy.
$4,000; Mischner, $685. 900; Togael, 4OO,-
600. The average of all except the last is
$4,000 hogs, and including the last is
$4,000.
The directors of the board of trade
held an interesting session. Complaints
against firms who defaulted on July and
September wheat were brought before the
meeting for consideration. The firms
cited in July cases had not begun injunc-
ton suits. The circumstances were all
alike, and only the case of Poole, Kent &
Co., was heard. The directors listened to-
considerable evidence on both sides, and at
last decided to postpone final action for
two weeks. They said the rule governing
the matter was mandatory, and intimated
that if the contracts were not fulfilled
there was nothing for them to do but to
put.the rule in force. The penalty is sus-
pension.
McGeoch, Evrington g. Go. cited every
body who had not settled their September
wheat contracts with the firm, and
asked for an enforcement of the
rules. 1t was agreed that
the September wheat cases should be given
rest until the arbitration committee now
considering the situation of whether or not
mixed receipts Of spring and winter wheat
are proper tender under the rule, give
their decision.
Numerous letters are received by reput-
able brokers from various small towns
throughout the West, asking for informa-
ton concerning the reliability and charac-
ter of certain alleged firms doing business
about the board of trade. They claim to be
doing cooperative commission business,
and by sending out alluring circulars get
great deal of trade in the way of clubs
made up in small towns. They have Offices
near the board of trade,an are doing bust
ness, as far as any one can prove, within
the law. Yet no one but an innocent would
send money to them, or deal in any way
with them, as the chances for making mon
ey is exceedingly slim. The style of doing
business has been written up repeatedly in
all the Chicago dailies, and needs no COM
ment. If any reader of the GLOBE wants
to make a fortune in days time by spec
ulating in grain or stocks, he had better
stick to a legitimate commission house
and deal on the board of trade in regular
way. He will lose in any event, probably,
but the cooperative club scheme leaves
man but little satisfaction for his loses.