Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-09
SPECTATORS SIZED.
REVIEW OF THE CHICAGO GRAIN
IND NEW YORK STOCK MARKETS.
The Effort to Compromise the July Deal
Unsuccessful-A Corner Assured in Both
Wheat and Oats-PrOspects of the Apple
Crop-A Stronger Feeling i'm Stocks and
Considerable Advance.
HICAGO.
[special Telegram to the Globe. |

The snort interest III biio CeleUTdtcu GUY
wheat deal was held. A committee of
three was appointed who will meet to-
morrow for the purpose of arranging
compromise with the longs. The shorts
do not expect to ask reduc-
ton in price, but will request
that no proceedings be taken against them
till after the courts pronounce upon the
injunction cases now pending.
THE MARKETS
were generally irmer under a reaction
from the terrible bear onslaught of the
past week. Wheat was steady and higher.
McGeoch is heavy long, and his enemies
will try and force him to sell. He is a
man of wonderful tenacity of purpose and
has long purse, and the contest promises
to be warm one. To-day McGeoch went
up to the wheat pit and hearing no mem
Der bid at $3.50 he cried out, Il will take
any part of million bushels of NOvem-
Der wheat.at $3.50" No one replied. The
dealers stood aghast, and for once silence
ruled in the wheat pit; ''935 for November
wheat" shouted the Milwaukee millionaire
No one replied, and the buffer passed out
November wheat fell &c. Red winter
wheat is now only 15c premium over
spring wheat, whereas it usually is at
premium of from to &c. The trade in
wheat is at a rest. No one comes to sell
for fear of squeeze, and the shorts are
waiting for something to turn up. An
exporter states that the weakness in the
L 1-oll H.
A PECULIAR FEATURE,
if not caused by it. Parties who bought
wheat at much higher prices are now
offering it FIRE ely in western Europe at
prices which are barely equal to 81 per
bushel in New York. Of course export
orders here are out of the
question while this state of
things continue. English operators bought
while bad weather there threatened their
own harvest, and fears of & general war in
the old world added to the inducement to
buy. Now that good crops in western Eu-
rope are assured and the war cloud seems
to be small one, there are some
doubts in regard to financial strin-
gency in the old j world, which
may make wheat paper hard thing
to hold The weakness there is undoubt-
eddy made worse by the exaggerated esti-
mates of the yield which have been sent
over the water from this side. There are
only three letters in the word six and four
in the word five. Hence it is really easier
to write six hundred millions than the
smaller quantity, which is probably much
nearer to the truth. English people are
widely possessed of the idea that the
United States wheat crop of this year ag
gregates fully 6OO,OOO,O0O bushels, and
some of them are already writing learned
dispositions about the impossibility of
such tremendous quantity being got rid
of at any price.
Corn was active and irregular. declining
! from 30 to &c on all the options. David
Bows holds October and September. No
vember is said to be a good purchase, be-
ing now from to SC under October,
whereas the difference should not be
greater than or cents. Year corn was
weak and May strong. A good straddle
would be to buy May and sell year.
The oats market was strong, cash stuff
being taken readily. The deferred fu-
lures were slow.
The provision market was specially ac-
/ tive, and prices were unsettled and lrregu-
lar, but sold lower on pork and lard
while meats were held firm. and shest ribs
sold little higher for October. There
was a little business done mainly Ill futures
of pork and lard. There was a very fail
shipping demand for meats, bat offerings
light Receipts of hogs light Viii be about
10000 tor the week against $4,000 tbs
same week last year. Hutchinson bought
October and November lard. Meats were
dull, and nearly all descriptions continue
scarce. There were severel orders on tht
market. but generally at lower prices thar
asked. Prices were nominally unchanged
on near delivery. All descriptions were
held strong and all scarce. Consider
able interest is manifested in regard to thu
apple crop this year, and as reports have
been circulated by some Eastern parties
} which are likely to greatly nislead TIT
public. the GLOBE correspondent en-
deavored to obtain some reliable informa
tioa regarding the probable crop OF tn
t year Of 1882. 1T is generally admitte'
that New York and Canada viii have
i light crop. Michigan viii var
5 from quarter to half a CROP
: while Illinois and Missouri vii
a probably have the largest and. pest crop o
apples gathered for many years. Will
e the East may have only light crop,
must not be presumed that there Will b
u no apples to ship. A short crop in min
j cases out of ten is greatly under
estimated. However, allowing Their
e will be short crop. the liberia
/ crop in Illinois and Missouri will no dout
r. make up the deficiency. Besides, othe
: Western states which do not ship apple
will have a good crop for their own u.s.
e and there may not be SO urgent deman
IS from interior ports as usual, and the pre-
: ent outlook warrants dealers IN maxim
e the statement that the public need nc
d fear very high prices for apples the con
e ing winter The foreign crop of apples,
n is reported. is almost a failure, and report
from abroad intimate that large import;
lions of American apples Will be reouire