Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-12

before the arrival of the noon hour the
range of prices was lower than that of
yesterday on change. Later something of
an improvement occurred. A rather sharp
rise took place, and before the close the
early weakness was nearly recovered. The
trading was fair, bnt mainly in the futures
for pork and lard after this month. and
also largely On speculative account. Pork
was irregular, and the days business.was
transacted at lower range of prices on
the average than on yesterday. The low
est prices of the day prevailed previous to
the noon hour. At the close November
and the winter futures were TIC
1Oc lower than at the close of
change yesterday; year 1Oc lower
and October 25c. Cash was quiet. On
call prices ranged somewhat lower. Lard
sold off again to-day, opening weak, then
gaining strength, and in the afternoon
weakening again. Cash and October were
l21z @ Is cents lower, but the futures
showed little change. There is difference
Of ideas as to the cause of the decline in
hog products. Many operators fear the
people controlling this market are letting
it down little for the purpose of catch
ing on again, and pinching the gudgeons.
At the end of the month there will be no
pork here of any consequence, not enough
to make up a half dozen big lots.
At the beginning of the month there
were only $4,000 barrels in store, Over
$4,000 barrels have been shipped out, and
if the pork that has been shipped and sent
out as meat is deducted, it will be found
that even now there are not over 10000
barrels on hand. None, of course, can be
made this month. There were only 5000
tierces of lard here Oct. l. It is said
that N. 4. Fairbank is making refined lard
fast enough to use up this before Nov 1.
The hogs now coming III are not
averaging seventeen pounds OF Lard to the
animal. Armour e. Co. make almost as much
| refined lard as Frirbank. 1t it easy to SEQ
that there will be no surplus of hog prod
ucts here Nov. 1. 1t is stated that both
Fairbank and Armour desire cheap hogs
just at present more than they do dear
products, and this is the reason of the de-
cline. sharp rally is prophesied to &C.
cur soon, to be followed by a larger break
| of prices than is expected during the
| month of November, when it is thought
the receipts of hogs will be phenominally
large. High prices are then expected TO
bring in the young crop with a rush.
| ANOTHER WRECK
caused by the passion for
grain gambling developed to-day by the
arrest for embezzlement of Franklin L.
| Chase. a well known and able lawyer.
Chase, who is chairman of the Democratic
county committee, and brother of
uel Chase, North town en-
into the law Office of the late Judge Norton
when boy, and grew up as his protege.
Upon. the death of the judge, his widow.
who had perfect confidence in Chase.
placed $4,000 in his hands for invest
ment. The money was considerable
portion of the property left to her and her
daughter, Mrs. Gen. Gorrence. Suspicious
that this had been misappropriated are
| to-day verified, and the arrested man &C.
knowledges to have lost on the board OF
trade, besides his own fortune. money be-
longing to numerous clients, and thought tC
amount to $4,000. He is SO completely in
solvent that even his elegant residence
furniture and horses are mortgaged tc
their full value.
Some person with vivid imagination
has discovered
| GIGANTIC PLOT
whereby the wheat markets of the entire
country are to be put at the mercy of spec
ulative manipnlators. The scheme
lis for certain strong bull
houses and parties in Chicago
anu New York to send into the country and
buy mp all the wheat they could lay their
hands on. OF course it required an i'm
mense amount of money to do this, for
besides the first outlay in the purchase OF
the wheat, there was afterwards the carry
ing charges to look after. But the parties
who are working up this grand coup are
men who do things on grand scale, and
besides having large capitals of their own
they are backed up by other capitalists
named. Among the firms and individuals
who are said to be inter
iested in the scheme are the
ArmOurs, McGeogh, David Bows & Co.,
and Kershaw d Co. Behind them it is
said. looms up a certain person who COM
mands not alone countless wealth. but rail
road and steamship control that will be a
powerful aid to the manipulations. This
is Vanderbilt. These men are not alto
gether buying outright all the wheat they
can find, i'll many instances only advanc-
ing through their agents funds to the
farmer and country shipper to carry their
wheat until the command is received to
send it to market. The scheme is
supposed toibe to hold the wheat back ip::the
country only letting driblets out from time
to time until certain alarm is excited at
the continued small receipts, and start tine
shorts to buying. Even now the present
receipts at the principal markets are so
small when it is considered what Re init.
full harvest was supposed to be gathered,
that the question is frequently asked: eIs
1t possible that the whole country is mis-
taken. and that the wheat crop OF 1882 was