Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-12
The November Corners Well Under
Control Of the Cliques.
SHORTS ON THE ANXIOUS SEAT.
The Stock Of Hsg Products Small, and
Growing Less Daily.
4 BIG DEAL In WHEAT RUMORED.
The Moguls OF the Trade to Squeeze the
Small Fry Out Of the Market.
CHICAGO.

CHICAGO, Oct. Il.-On change to-day all
markets were moderately active Wheat
sold 4@3sc better in the morning. but
eased off again in the afternoon, when a
weaker feeling influenced everything.
Corn continued its boom, advancing Il nc
for cash, 1c for October, A@Bc for No
yember. but May lost &c. In the after
noon decline of 1sc was experienced.
Cash oats were frmer, but the long fea-
lures shade lower, improving however,
in the afternoon. Provisions were lower
and irregular. October lard showed a de-
cided weakness.
Regular wheat was fairly active and
rather strong early, but weakened late,
and fell off as@1ac, afterwards recovered,
then fuctuated within moderate range,
and at the close cash or October was about
1sc higher, and seller the year about 1sc
lower. The business was good, and at the
close the feeling was rather steady. The
bulk of the trading was in November and
December though there was fair amount
of trading for the year. The May option
was traded in very sparingly. On
call prices were not quite so
strong. Winter and spring were
quiet, the former being held firm and the
latter a shade weaker. Flour continues
very dull, showing no change.
About 100000 bushels of the defaulted
contracts in July wheat have been settled.
S. II. Larminie & Co, have withdrawn
their injunction and settled $4,000 bushels,
and it is understood others are doing like
! wise. Poole, Kent & Co. had been cited
before the directors by L. Everingham d
| Co. The former are understood to
| have defaulted on quite line of July
wheat, which has been standing open pend
| ing the decision of the court in the in
junction cases. Yesterday was not com
plant day, and it was limited that the d.
their Theoretically sealed session.
| Corn was active and recovered sharply
from the decline late yesterday. A good
speculative business was again transacted
in the market, and the shipping demand
was also fair. Still the aggregate trading
was not as liberal as yesterday. The
feeling was trife unsettled
but rather strong. The receipts were again
light and this was one of the principal
reasons for the prevailing frmness. Mar
ket advices from other points were
generally favorable. The market opened
about 1s@ &c higher, and quickly adj
vanced an additional 1lsc, then fiuctuated.
reacting trife, but again advanced and
reached the outside point of the day, which
was about the same as the highest figures
reached yesterday. Excepting for seller,
the year and next year futures, which did
not reach within about &c OF yesterday S
outside figures, fuctuated and finally
closed about IL &c higher for October and
cash, &c higher for November, &c higher
for year, and &c higher for January than
the closing figures on change yesterday,
while May was about the same as at the
close yesterday. On call offerings were
rather free and prices were shaded about
| 1sc. Nearly 100000 bushels of corn
were sold on the call yesterday. and the
transactions on the big board probably
aggregated 100000 bushels. While the
transactions to-day did not come up to these
figures. they were unusually large, over
100000 selling OF call, and perhaps IT,
O00.0 on the board. sssr.f
The sales are SO enormous that a good
many gothic impressiop that the clique
running the speculation in corn for No
vember had realized on their purchases.
While there was great many heavy sell
ars;J. I. Lester & Co. continued buyers,
and this fact is of significance ';John T.
Lester" said an operator whose news is
always reliable, "now has charge of the
| November corn deal. Lester was long OF
big line of corn November. and sought
an interview with the people who a month,
| ago figured out that there would be short
age IL corn next month. He proposed
| that he be given the management of the
operation, and that in consideration of
this fact he turn over his long corr into
the pool. Nathan Corwith's crowd and
Jno. B. Lyons are now allied with Testers,
and the latter gentleman is managing the
manipuiations. 1t is not to be expected
that the figures will be crowded very much
higher at once. The shorts have been
thoroughly frightened for two days past.
and if the market is not let of little they
Will all come in.' r. p Hutchinson is
buying the year options Of all sorts of
grain. To-day on the call he took, together
with good deal other, two quarter million
bushel lots Of corn, and his purchases of
year wheat, while not so large were heavy.
There is but little doubt that the short
sales have been SO enormous that tie
Clique buyers can have everything their
OWE way, if they waa. il, for the next ten
days. TIE shorts made wild scrambles to |
buy in the short stuff, and as the receipts
were very light, cou pied with foreign adj
vices, the advance was foregone conclu- |
sion. There were many rumors of failures
and one seemed TO be certainty, but the /
firm pulled through the crisis, and with |
no further advance tomorrow will come
out all right.
The stock of grain in store here is
2.159.1SS bushels, against 1858, 226 one
week ago, while the receipts were only
aghty-hve car loads. The shipments were
$4,000 bushels. This is causing great
Alarm and there is every indication of a l.