Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-17

and to-day being but 5000 and on Satur-
day only 1892. These light receipts are
not calculated to bear the mess pork and
lard markets.
The amount. of wheat added to that in
store in Chicago elevators to-day was
somewhat larger than for several days
past, as 1883 bushels were received and
but 56,21O bushels shipped out again. In
st. Louis the receipts were nearly as heavy
and other markets showed an increase.
TIE WEEK JUST PAST
has been rather eventful on Change
in the wheat market. There was a
fair speculative business in this
market during the week under
review, and prices ruled firm from the be-
ginning to the end, advancing steadily,
and the close seller October was &C. higher
than it closed last week, November &c.
higher, December 15sc. higher, and. year
&c. higher. The receipts during the week
were fair, but there was a steady out
ward movement, the shipments exceeding
the receipts by over 125,000 bushels.
Strong parties were believed to be still
in the deal, and determined to hold the
market. and possibly force prices up. This
has tendency to keep the shorts little
nervous. and, while they bought quite free
ly, there was but little disposition to sell,
and hence the market was gradually bid
Up, though at no time was there any ex-
element. But the unsettled and buoyant
feeling in the corn market was perhaps
the most direct cause for the frmness in
wheat. There was brisk speculation in
corn all the week, attended with good
deal of excitement and sharp advance. and
the effect was felt i'll nearly all other
speculative markets, wheat sympathizing
more closely than any other. The visible
supply of this grain at latest dates was
13,946,000 bushels against 900 bnsh-
els the week previous. and 20,176,0o0 bush
els for the corresponding week year ago.
The amount of -four received for the week
was $3.50 barrels; shipped SS,707 barrels.
Received for the corresponding timo last
year, 126,729 barrels; shipped 109,446 bar
rels. This market was more active, and
trading for the week heavier, and with the
tone of the market improved from what
it has been ever since the moving of the
new crop. This condition and favorable
change has been brought about by the
slow moving of the new crop of wheat and
the scarcity o. the more desirable brands
o. -four, and an improved demand for the
| same, and dealers are more hopeful as to
the future of the market. The home
trade have been buying quite freely, and
have kept the market we'll clear of the
finer Minnesotas and hard wheat, and of
| the better winters, with something of
disposition on the part of these buyers
to stock up and accommodate a
supply on hand rather than have the deal
er carry the goods as has been the case for
some months past. Shippers and export
ers have been on hand, and the foreign
buyers have taken more than usual of the
better export stock and the low grades,
and the movement has been much more free
than for some months past. 'i;i.s-a were
received during The week ;;ib.0)J bushels
of corn and 935, 500 bushels were silippea
out of Chicago. During the correspond
ing week of last year the receipts
| were 2,11S,000 bush is and the
shipments 1,s26,oO0 bushels. The amount
of corn in sight is 5.676,OOO bushels against
S,650,OO0 bushels a week ago and 2S,121,-
| 900 bushels for the corresponding week OF
| last year. These fgu Q; show why high
prices can now be so easily forced in the
| face of threatened extraordinary crop.
During the week this market was charac-
| terized by much activity, attended by con-
and at the close cash No. 2, or October,
was 6Lc higher than last week.
| November 4Bc higher; January 31ac
higher; year SIC higher, and May 24c
higher. The principal cause of the ad
vance has been
THE OPERATIONS OF A CLIQUE
to which reference was made last week,
which it was believed had been formed for
the purpose of cornering the market or at
least squeezing" the shorts. The combi-
nation was represented to be very strong,
and during the entire week the members
of it were liberal purchasers. The shorts,
in view of the situation, became extremely
nervous and began to buy in freely,
and finding themselves in competition
with the bulls, were compelled
to bid prices up in order to get what they
wanted. The October option advanced the
most, but all other options showed good
deal of improvement, year being especial
ly strong. The light receipts favored the
bulls very materially, being only 100000
bushels against 2,110,OOO bushels for the
corresponding week last year, and nearly
G50,OO0 bushels less than the shipments
during the week. Besides, there were re-
ports that the crop had been greatly over
estimated. some publications putting the
estimate only at two thirds of the average.
ALI these influences combined to excite the
market and bring about the improvement.
The milking process, which almost al
ways attends incipient corners, was not
wanting, and there were occasional breaks,
| some of them very decided, but were invar-
iably followed by an up turn in prices, the
reaction generally going higher than be-
| fore the break.