Daily globe., 1882-10-03
SHORTS POCKET THEIR LOSSES
That Interest Not as Large as Was Ex.
pected Last Week.
McGEOGH SORRY FOR HIS VICTIMS,
General Gossip on the Chicago Board Of
Trade.
CHICAGO.

transacted on change to day, and prices
advanced all around, Influenced by the
liberal dealings. OF course cash wheat
dropped away off, the manipulation ceas-
ing Saturday with the maturity of the
September option. Spring showed the
difference most, being exceedingly dull
and the receipts liberal. There was no
shipping demand, and little speculative in
quiry; hence prices ruled 12@14c lower
than at the close of last week. No. 2
spring closed at &C. but on call improved
8@4c. The lower grades held steadier.
A good deal of winter wheat was also re-
ceived, but there was good shipping de-
mand. Winter closed at 96c, but on call
was slightly easier. Regular wheat was in
fair speculative demand, and although
prices fuctuated frequently within small
range, the feeling was stronger and prices
ruled higher all round. The receipts were
again quite large, but there was apparently
more desire to cover outside contracts for
all futures. Prices were advanced M@1c
over the closing figures Saturday, and
closed within about 1s@4c of outside
prices.
Corn showed unexpected activity and
strength. The receipts we're light, and
both bulls and shorts we're free buyers.
ahe bears We're surprised by the upward
tendency manifested. Trading was chiefly
on speculative account, but shippers
also bought fairly. Prices opened
4@1c better than the closing
on Saturday ruled tolerably firm for a
time, then sold up sharp, afterwards weak
ened, then improved again near the close,
October selling up 134c from the lowest
point, afterwards fuctuated some, but
closed firm. Car lots of No. sold at 5915
@6015c Tor round lots. High mixed sold
firm.
Flour ruled quiet and prices were with
out special change. There was some in
quiry Oh the part of local jobbers and
shippers, but neither manifested any par
ticular desire to buy, and no trading of
consequence occurred. The fact is that
shippers are disposed to hold off for
larger supplies from which to
make their selections and expect to OBJ
tain concessions, and local dealers are
merely supplying actual wants.
Oats were rather quiet, but Influenced
by the advance in other cereals and light
arrivals were advanced slightly all around,
The provision market was moderately
active and showed a rather strong feeling.
Prices were at times little unsettled, but
Saturdays range was we'll sustained, and
on the winter futures an advance was OBJ
tanned. There was no excitement to speak
of, and the day passed without any unusu-
al development.
Pork ruled firm, with moderate fuctu-
ations, but eased off slightly on call.
Lard was irregular but strong, the winter
futures advancing 1919 @15c and stifening
further on call.
THE SEPTEMBER wHBAT DEAL
will be settled without the little incidents
that marked the July deal. The quantity
defaulted is estimated at $4,000 bushels of
which it is expected that good portion
will be squared up without resorting to
committee. The price for September
wheat was $1.07,and later $1.OS was bid by
the clique. There was some complaining
but several dealers seemed to think the
price was not exorbitant, saying Mr.. Nc
Geoch might easily have run it up to $115
if he had wanted to. Mr.. McGeoch himself
says he absolutely hated to go into their
deal and tried hard to have the shorts
cover at prices under dollar, but they
would not He declares all those who re-
fuse to settle will be spotted, and he will
never make trade with any of them again.
The deliveries. of cash wheat, Saturday,
we're placed at about 100000 bushels.
which, with the stock in store, is supposed
to be in the hands of those alleged to have
run the deal. The puzzle now Is how they
will get rid of the property without loss.
THE EFFECTS OF THE FROST.
A gentleman writing under date of Sept
80, from the central part of the state, as to
the actual damage sustained by reason of
the cold snaps, says:
''The recent frosts have had the effect of
seriously injuring the late corn, of which
there is considerable in Livingston county,
probably one-fourth of our crop being in
such shape as to be damaged. It is safe
to estimate that two-thirds of our
crop this year is already out of the way of
frost, and about one-sixth is so far along
that only heavy frost would injure it, the
remaining one-fourth, being still soft,
ought to feel the effects of recent cold
nights. 1t is probably quite safe to esti-
mate that the corn land in Livingston coun-
ty will this year show up from twenty
two to twentyfour bushels per acre
for an average. There are
many hundred acres on which not over five
bushels per acre will be gathered this year.
Hundreds of other acres will yield only
eight to ten bushels, but there are also
many hundred acres that will yield from
fifty to sixty bushels of splendid corn. At
the figures We have quoted above our yield
may be called two-thirds of an average
crop, the State board of agriculture desig-
mating 33 bushels fair average crop in
Illinois. We have this year seen some
fields of corn that gave promise of as
magnificent a yield as was ever
gathered in Livingston county. Where
tiled and untitled land lie together the