Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-09-21
aH the Options Largely 0yersoid and
the Shorts i'm a GOraer.
WHglT LOWER THAN ITS REAL VALUE.
The Farmers Holding it for Future
Improvement.
A COLLAPSE OF SPECTATORS CERTAIN.
Gs2EG and Vanderbilt at Gross Pur-
poses on Raiidroad stocks.
CHICAGO.
Especial Telegram to the Globe. !


CHICAGO, Sept. To-day has proven q
repitition of yesterday on Change, except
. iag that the panic of the shorts has now
extended TO the near futures on wheat,
pork and lard. They IrealiZe thas IN their
scare az the unexpected tumble on corn,
they laid themselves wide open, and are
trying to get out OF their pre- dicament as
best they may. The extent of their recent
unloading may be Judged by the magni
tude of the operations during the past few
days, which have been almost entirely
purchases to cover. So great has been
the excitement In the options largest
QVersoId that everything else has been lost
sight OF. Long futures in all products ex-
cept corn are dead, and cannot be made to
show any signs of life. Everything CEN
ters III September, October and November.
the present month of course monopolizing
the largest part of the
attention of the operators. Septem
Der corn is bodily cornered, and October
can easily be. The well-groun5ed fear
chat those who have the former months at
their mercy will next turn their attention
to the latter, fills the bosoms of the shorts
with CONSERVATION, many of them being
equally interested IL both, and
having all they can do
to get out of the first dilemma without
bankrupting themselves. Fortunes will
be lost and made on September corn, it's
fluctuations being unprecedented. At the
beginning of the month it was worth 74c;
& week ago 60c, and to-day it sold for zoe
again. Where it Will be settlement day,
The market opened to-day nearly &c higher
than it closed on the board yesterday, part
OF the advance, however, having been
established yesterday afternoon. The
cloudy weather and cooler temperature
aided the bulls in keeping up the price.
Later it declined A@Hc for the various
futures, and 114@1Hc for year, rallied
again, advancing 1G13Sc, fuctuated and
finally closed about 2@2Io higher for
cash and September, 24@23sc higher for
October, 2115c higher for November, and
LIE higher for year than the closing fig
ures on 'change yesterday. No. 9 sold at
6T@69Mc and closed at about 69Ac.
Rejected sod at64@65c, and closed at 65c.
September was i'll demand with Light Of
ferings. It fuctuated between 6SL@
69Hc, closing at the latter figure. Octo-
ber was active, selling between 65L@
663Sc, closing at 6624c. November ranged
from 615s to 62c, closing at 62M
@63c. Year closed at 555c, January at
505sc. and May at 52Mc. On call prices
stiffened still further, the long futures
showing some frmness. Sales were
tO,00s bushels September at 69%@
zoe; 100000 bushels October at 665k@67c;
100000 bushels, November at 62M M@63c;
100000 bushels the year at 55%@55%c:
10000 bushels January at 5O5s@51c; 2IO,-
600 bushels May at 5221@53c. A total of
over half million bushels.
Among the bulls buying most heavily
are old Hatch and Kershaw.
They have been taking blocks of twenty
live, fifty and even one hundred thousand
bushels at time, absorbing between them
the past two days over a million bushels.
To-day, Kershaw, after the closing of the
call board, unloadsd o lot of his recent
purchase on the curb, breaking the market
q quarter of a cent. Several of the tailers
on who have been following in the wake of
the big operators pushing the corner. be-
came scared to-day at the prices reached,
and fearing break, sold out what thew
had been buying, making a handsome
margin, but every thing offered was eagerly
taken and the market showed no
sign. VIM. Young & Co. have been large
sellers, buying, it is said, at last weeks
figures and netting consequently a large
sum. In explanation of Kershaw's move.
it is stated that he and the other bulls in
the corner wished to break the market for
day. gobble everything up again at a
lower fgure,and then hold a larger amount
than ever to the close. Almost ANYTHING
rs possible in the present feverish condi-
eion of the corn market.
Wheat continues very active,an steady
and firm feeling prevails. For September
Efere Is good demand from
shorts, while the more deferred
futures meet with only moder.
ate inquiry. and at times rule
quite dull. The receipts of wheat, both
spring and winter, we're smaller to- day.
Foreign adyices were OF an unfayorabIe
tenor, but the markets abroad at present
are having but little influence on the local
trade. Prices fuctuated within a 1anee
OF e s@ 1ac, and finally closed about &c
higher for September, and A@ssc higher
Tor the deferred futures than the closino
ngureS Oh 'cnange yesterday. This is dull
90 Ine pressure to fill September shorts.
cTeoch has got hold of the deal again,
ana the boys are putting in for it liyely.
the receipts of wheat not being
more than half or two thirds
OF what they were barpaipino
Tor. The pressure was Increased by the
fact that lot of wheat that had been sold
TO arrive here failed TO pass grade. The