Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-29

good demand and closed at about CSC
for car lots. The prices at which this
grain cloed to-day are not far from where
it stopped yesterday afternoon after the
call board.
Oats were quiet and trifle easier. Bar
Ley and rye were dull. The bulls find a
good argument for higher prices of corn in
the posted visible supply of grain. It
shows big decrease from the supply a
week ago, there being now but 3,873, 43S
bushels estimated against 4,481, 1898 last
week. One year ago yesterday the visible
supply of corn in the United States and
Canada was e7,97o,50O bushels. The
enormous reserve held over for the two
years and over has been consumed or ex-
ported.
The board of trade directors met in 50
cret session to-day. They will not divu!ge
their proceedings, but it was well known,
however, that the Murray and Nelson-Lyon
10000 bushels of wheat case came up be-
fore their august body again. 1t is report
ed that certain interested parties in the
case would receive notice to absent them
selves from the board for few days. They
are much exercised in consequence.
The reported decision of the appellate
court in the case of Seymour, Hunt & Co.
vs.. the board of trade to restrain the latter
from suspending or expelling customer
of theirs from the board for not paying
up margins on wheat during the August
wheat corner has been matter of some
talk. The court decided in favor of the
board, ard every one was wondering if the
firm would now pay out the margin
money. Firms having trades with them
yet unsettled since that memorable deal.
hurried around to send in their bills for
their margins or differences yesterday. It
was stated, however, by confden-
tial friend of Mr.. Hunt that the
firm would not pay cent out yet, as they
proposed to carry the case to the supreme
court. They now tell a pretty little story
about Fairbank. As is well known that gen
tleman was not at the start in the CLIQUE
headed by Armour, Hutchinson and the
Fowlers, who combined to break the hog
product markets for the benefit of the
packing interests. 1t has puzzled many
why, when Fairbank had all the October
lard and the whole street was short to him.
he should let go and permit the decline,
but it was generally thought that cheap
hogs were of greater importance to him
than what he could make On q corner. so
he unloaded at good prices and with fair
profits. The reason now assigned in some
quarters is that he was scared out by the
bears, and that he has really received ter
rible drubbing at the hands of Armour,
ola Husc,.,' Eoa,er 2cos. and lie che
packing concerns Ihere.. These knowing
ones assume that if the engineer of the
October lard corner had not been very
rich, millionaire, he would be ruined
man to-day. As it is he bears
his losses philosophieally and
says it will be a lesson to him, and
that he feels worse for the public than he
does on his own score. The story goes
that Fairbank on entering upon this last
speculation, dedicated a share of its pro-
ceeds to build great library, art hall,
museum, conservatory of music, and
school for oratory. In talking up the
scheme with his partners, the firm was to
make up all the cash stuff into refined
lard. He figured that the deal would
net him about 100000, and that
putting aside 100000 for the public, there
would be 100000 left for other purposes.
It is related further that Armour threat
ened to make up hundred thousand
tierces of lard if he had to import the hogs
from Paris, and the other big packers
were equally bearish, and in the end Fair
bank weakened. unloading his burden
instead of at a gain of million. at loss
of third of a million. This gossip is
given for what it is worth.