Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-07-18

i III
would go lower. There may be slight re-
action after such Waterloo, but think the
stuff must go &c lower anyway. August
curb is $1.04X.
Corn also stopped over and closed weak,
receipts and fine weather being too much for
the bulls; curb for August is use.
Provisions were bulled by some parties who
are not strong enough to hold the advance.
Geo. Wheeler had to throw up both hands
and lay down owing to being long for a
snoozer from st. Louis who could not nut
up.
From Another Correspondent.
Especial Telegram to the Globe,1
CHICAGO, July 1.-THE BIGGEST break in
prices for many months occurred to-day in
the grain market, which fuctuated widely
with general tendency downward. On the
opening the market for No. 1 spring wheat
declined 4g411c for August. 2<@2Xc Oh
longer options, caused in part by the failure OF
Geo. Wheeler, large grain operator, which
threw large quantity of long wheat and
corn on the market. Fine weather, encourag-
ing reports from wheat districts, the
receipts, $50 cars of wheat, double
the amount received any day
previous this year, also contributed to bear
the market. The large receipts are accounted
for by the abnormally high prices which have
prevailed in Chicago for the past week, caus-
ing general movement of grain toward this
point. At present there is only about the
freight difference between Chicago and st.
Louis markets, but it is predicted that the
movement of grain started for Chicago when
prices were higher will make receipts here
heavy for some days to come. 1t is thought,
however, by operators that further decline
will not take place since wheat is worth more
Tor shipment than Its present price.
| Several minor failures were also reported
The corn market yas decidedly weak and
lower, owing in part to the increased re-
| ceipts--of 600 cars. There was a general
tendency to realize on contracts causing de-
cline OF 1Hc. Reports from corn districts are
not Encouraging and the general opinion is
that the price had about touched bottom
The recent sharp decline in pork Is at
tributed by the knowing ones to combina-
ton of Armour, McGeogh and the Oh icapo
Packing company. It is said that Armour is
on the short side and is pressing prices in or
DER to squeeze out the smaller operators. A
number of firms are known TO have lost
heavily. Armour bought heavily on the mar
ket to-day and the rise of CSC is attributed
to his manipulations.
western Associated Press
| CHICAGO, July 17.-The markets were much
excited and unsettled to-day by the announce
ment of the failure of George A. Wheeler, an
old operator of twenty-five years. experience.
His liabilities are only guessed at, as he re-
fuses to give an idea of their extent. They
are believed, however, to be quite heavy, and
involve large number of members of the
board. Forty thousand dollars is named as
the minimum. With him went down also
George Wilde, an operator associated with
MN as buyer rather than as a partner. His
| Liabilities are probably small and mostly on
the call board and open board. The fall in
wheat was X @6c. being greatest on cash.
Corn dropped X @21Sc, oats 3k@11c; pro-
visions were not affected, but took an upward
turn. The lowest prices did not rule at the
| close.
Especial to the Western Associated Press
CHICAGO, July 17.-Wheat was lower TO-
day, decidedly lower, and at times almost
panicky. The heaviest drop was in cash and
July, and came there because of an awakening
on all sides to the tremendous crop of wheat
that has been harvested, and some of which
is on the way from the Southern wheat states
Farmers have realized it, and from many
Northern farms and grainaries thousands Of
bushels OF grain are beng crowded to market
while prices are well up. This decentralization
of prices is the poor mans salvation from
what seems about to become actual hunger.
Receipts of new winter wheat to-day were
40S car loads and of all kinds of grain by rail
and canal 100000 bushels; the heaviest re-
ceipts for long time. The board was also
frightened by the fine weather and still more
by failure Of some Importance, coming at 8
time when failures are very scarce and there
fore not much expected. Winter wheat
dropped off in all about &c since Saturday
Spring was very dull but there was decline
of &c or very near it. Regular was active and
unsettled, fuctuating widely. Prices opened
M@1c lower, fell again 1 Y @2c, recovered lc
then declined 4ssc for July, &c for August
2Hc for September, closing finally 311c lowe,
for July, Sc for August, 1Xc for September
On call sales were red 10000 bushels, spring
$4,000 bushels, regular 1,l35, 600 bushels
prices steady for red, sc higher for spring,
&C lower to x C higher for regular.
Corn was influenced like wheat and ruled
weak and lower but unsettled with heavy
trading, receipts heavy. Prices opened
x@1c lower, declined until lX@1Xc below
Saturday, recovered somewhat and closed q
lower for July. Sales: 751sQ76Sc fol
| august, - = CQtoHc toF september, % G6IC
for year. On call sales were ,24O, COO bushels
and prices %@xc lower, except Octobe,
which was STEADY.
Oats were unusually unsettled aud decidedly
off. Sales 351S@S53c for July, S7x@3SX {
for August, 355@364 for October. On call
sales were i55, 600 bushels and prices x@Xc
lower, the greatest drop peing at the opening
Pork was quite active with free offerings
Prices ruled weak, 20@25 lower esrly, but
rallied 45@55c, with frequent fluctuations
The extreme figures were not maintained
Sales: s2O45@20.S5 for August; $50 7Ca2l
for September; 800. 60@21 for October. Or
call sales were $3.50 barrels and prices 2O@25t
higher.
Lard was in moderate supply and demand
Prices advanced 20@30c, and the improvement
was well maintained. Sales, $l2.12x@12 ST.
for August, $12.25@12.55 September, 1a. 32je
ola 62K October. On call, sales were 5,50t
tlerces; prices 5@7X higher.
Begin Wtth Small F3ocks
| A Texas wool grower writes a cotem.
porary: The most successful sheer
men are those who began with few, OF
were shepherds for some one else tal,;po