Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-11-29
But Germ Holds Up to The Racket
With a Little Firmness.
WALL STREET DEAD AS USUAL.
Manitoba and Canada Pacific both Low.
er and the Only Stocks Having
Much Attention.
CHICAGO.
Especial Telegram to the Globe. I


however sluml off little owing to the
customary holi- sag which is caused by
the desire Of operators not to carry deals
over Thanksgiving. At the opening there
were liberal offerings of about everything
in the speculative list. The country was
liberal with selling orders supposing the
top to have been reached.
This caused q slight break in
values but a quick recovery
was made and though al the close there
was slight reaction the present wave is
likely to carry prices still higher, the par
ties engaged in the deal being sufficiently
formidable to be fully equal to the emer-
gency, as IS indicated by the strength of
the opposition they have had to grapple
with.
In the wheat pit there was an active
business and prices we're irregular, espe-
cially during the early part of the session n,
auctuating about II, and at the
close December was about IL
lower than at l o'clock yesterday,
January 14o lower and May about I36c
lower. The market opened rather easy,
and soon fell nearly 1c from yesterdays
closing at O'Clock, but afterwards became
strong, influenced partly by sympathy
with the iirmness in corn, and partly by a
reported decline il French securities,
which was construed to mean greater prob
ability of war, and there was an advance
of nearly 1l4c later broke of, influenced
by reports that the visible supply this week
would show q large increase. and by the
weakness which took place in corn. Dur
ing the latter part of the session prices
were decidedly weak. Receipts continue
free and shipments small.
LindbIoom says: "The situation is so
unsettled that conservative men will not
express any decided opinion. There are
strong arguments on either side and they
are brought into prominence accordingly
as sensational reports come. We believe
the bulls have the most conf
dence and scare the least
In our opinion it does not matter
whether the market is bullish or bearish
The great secret is in trading right, in
buying on weak and selling on strong
spots and recognizing that there is ga
chance to buy and sell here every day in
the year. Oar aim now is to read the
market for tomorrow only and not for
next year.
On call offerings were moderately large
and inquiry fairly active. Prices ruled
about sc lower. Trading was principally
in the January delivery.
Corn was again greatly unsettled, and
fluctuations attended with more or
less excitement during the entire session.
The weather was cool and clear and the
receipts we're comparatively small, but the
market was governed almost entirely by
speculation aud run independent of any of
the us1a! ialGences. The speculative
fever is in the market, and this governed
the c5urs5 of yailas. Prices we're lower
at the opening bat quickly rallied, ana
with lao.11i1as sdyancsd 13492lic for
the various futures above inside range,
then declined auier very liberal offerings
1La15sc and finally closed lie higher
for December and year, 30 higher for
January and February, about sc higher
for May than the closing on change yes
terday
Shipping demand lighter, but continued
short crop reports caused a heavy short
buying.
A good deal of soft new corn is
coming in which can hardly be sold. The
May option was selling half the day above
90 cents. Less than a week ago it was
going at less than sic. 'How great man
is Jack Sturgess" says half the
street. He started the present
boom, getting crowd of New
Yorkers to buy some millions of bushels of
CORP fortnight ago, and only day or so
ago getting them all to transfer their
trades from the near to the May
options.
John Roche sold literally AID the Adam
ses were reported to have bought 100000
bushels of corn, which contributed largely
to the strength of the market.
In the market for oats they were in fair
speculative demand and offerings were
somewhat reduced. Tire fluctuations were
more frequent and of wider range
than has been the case for some
time past. This vas due to the rapid
changes in other markets which Influenced
the speculative demand. Prices ranged
lie higher for near futures and ranged IS
higher for Nsy but weakened at the close.
Sample lots quiet. Shippers and local
buyers show reluctance about buying when
advanced figures are talked of. On call
there was & moderate demand and prices
were q shade easier.
In rye the cash market was
steady but not much offered
for considerable is held against
contracts. Futures were a little unsettled
and nervo1s in consequence OF frequent
changes in other markets. Prices held
well, however, to yesterdays range. On
call the market was fairly active and prices
without material change. Sales prlnci-
pslly in January and February deliveries.
For once there was little animation in
the market for barley. 1t was IN No :
which ranged shout &c higher. Shorts
coming on the market gave an impetus
to trade snd caused the change