Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-16
[spscial Telegram to the Globe.l

the close of yesterdays business. Wheat, |
corn. oats and ell provisions ruled higher
and steadier. The receipts were light and
the demand better. The shorts continued
to buy back carefully. but in the aggregate
heavily. October and November options in
Corn, those months being the most over
sold. The volume of the demand checked
the downward tendency for the time be-
ing. despit the efforts of the bears and the
continued sunshine. Other cereals
and provisions sympathized strong
iy, and showed a marked adj
vance. The good demand from
the eastern and export trades helped sus-
tain the prices reached. Tomorrow is
pretty sure to see another slight gain all
around. The influences are favorable
Ii may even last through Monday, but the
most sanguine of the bulls do not hope
more than this. The reeeipts of grain
next week will be heavier and the demand
less. The anomaly il just now presented
OF q forced short market bucking against
the influence of a threatened over
production. It is calculated the corn
bushels. OF course some of the shorts
must be terribly squeezed, and that they
have stood it so far without squealing Is a
good showing for the stability of this
class of Chicago business. The only sus-
pension developed was bat temporary.
Gossip has been ve-y anxious TO have 9TH
ers hois. the white flag. To-day the stand
ing of another house was trihed with in this
manner. r. ?. Murphy & CO.. doing bust
ness for years on change. it is known
have been caught il the storm, but
they claim to be able to weather
II. They are short good many bushels of
corn seller the year, IN which they have q
profit according to Mr. Murphy's state
ment. but are long in November corn at a
serious loss. He says they have S34,00O
III margins upon their November deal. and
are straddling the market to their great
inconvenience. They assert that money is
daily coming in, and that if they could
only settle their deals. they would have a
big profit over all. They deny that
1t Is a suspension or failure
of any sort' and claim to be
all right. Some OF their deals were closed
out to help straighten OFT matters. There
Is no doubt the firm. which is one OF the
oldest on the board, will safely pull
through the crisis, anu that their solvency
should have been questioned Is probably
due to business rivals. Tonight the idea
is. ''oh. Murphy is ali right Tomorrow
some other firm will be the victim of the
the sane rumor. The other films steer a.
clear of the maelstrom of speculation as
they can, and in cases absolutely refuse to
take orders when they know the fluctuations
to be 100 lively for them to carry the
trade.
On the regular board to-day No. reg
ular wheat was quiet, and prices were
rather steady. the whole fluctuation of
the season being only about &c, and at
the close September was about &c
lower than it closed yesterday. October.
however, was about &c higher, November
about "a higher, and year about i C high
er. The September option was a trifie weak
under rumor that some prominent parties
who, it was thought few days ago, were
working a deal, were now selling out
There was some. therefore mora dis
position to sell and September weakened
some but closed steady. The longer
options, however, were tolerably firm the
most of the session. Spring was fairly
active. but rather easier. Futures were
very duh. Winter wheat was in moderate
requirement.. Flour continues slow
The feeling in the trade was one
rs A.
trade and less call from outside. Prices
were weak and most holders were willing
to shade prices when by so doing sales
could be made. Rye -four was dull. Bran
and all millstuffs slow. Corn was active
but irregular, and at the close cash No. .
was about tc higher than it closed at
O'Clock yesterday, best October was about
1c higher, November sc higher, yeal
about &c higher, and May about Il
higher. At the opening the market was
weak, especially in September, which
was sc lower than at
o'clock yesterday, and the options were
also weak, bat the feeling soon changed tt
one of considerable strength: and Septem
Der sold Up about 1c, October about 1 &c
seller NOVemDer IA G. anu seller the yea
g. Later in the day the market becam,
weak under fall offerings, and Ssptembe
fell ].tc, October 3. November sc, an,
Year sc, afterwards improved consider
ably and closed firm. Oats were steadie
and Is 10 $8c higher. Rye was steady
Barley was irmer.
Provisions were moderately active an
hrmer.
Mess porkI25c higher. lard 10 to zoe high
er. On call the market stifened consid
erabIy. The active demand for lard 70
export has been an important factor I
strengthening that market.
From the great corn belt through tn
central portion of this state advices contin
ue to come III that the past few weeks O
weather could not have been better flo
the farmers had they been able tol order
Timely rain moistened the soil so tina
blowing for wheat was easily accomplish
ed. and an increased acreage
now being sowed, mostly with drills.
large amount of grain IS yet in stack. an