Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-19
An Easy Market Generally for Cereals
in Chicago.
WHEAT GAINS SOME STRENGTH
But the Demand for all Grains MereI,
Speculative.
McGEoCH' S RECEIVER DISMISSED
The Distrust OF Northern Pacific Shares
in Wall Street.
CHICAGO.
ESPECIAL Telegram to the Globe. !

OHICAGO,S6pG. lc.--LOWer cdUleS dILo Iu0
arrival in Duluth of 400 cars of new wheat,
an nprecenentedly large amount for a
single day, again brought out sellers in
force this morning, and opening prices
in Chicago vera about the inside range of
the session. Tbs scalpers all seemed eager
to unload. In addition to the weakness
Geo. @. Walker & Co., up to this week one
OF the leading bull houses, sold line Of a
million bushels of long October stuff which
they had carried for New York parties for
ell that was offered Shorts seemed to
have been waiting for the depres-
sion incident to Tuesdays large
receipts to cover, and it soon
became apparent that several heavy shorts
were buying to secure profits. This
checked the decline, and warlike news from
France caused sharp reaction, the close
being at the highest figures of the day.
There did not appear to be any particular
buying for investment. Corn opened weak
but hardened in sympathy with wheat.
Although the shipments were small the
unusually large charters scared some local
shorts into covering. The large sellers of
the past few days increased their lines and
seemed little disposed to cover. Provisions
opened with full supply of hogs at the
yards and some of the bears
raided the whole list on Change. o.
tober product was espe clally weak. The
feature of the day was natural reaction
and withdrawal of all offerings, so the
close shows an advance of Csc on pork, 15c
on lard and like improvement on the rest
of the list. Hutchinson was buyer all
day. Shippers bought freely to-day and
chartered all the tonnage in the harbor fit
to carry grain contracting for 100000
bushels of corn and 100000 of wheat. The
stocks of grain here have increased $780,
600 bushels of corn and 100000 of wheat.
John R. Bsnsley, recently appointed re-
ceiyer of the assets of NcGeoch, Evering-
ham & Co., on petition of Henry Botsford,
who was heavy creditor
of the bankrupt lard firm, was
released from his position by order
of Judge Gardner to-day, and ordered to
turn over all effects in his hands to Nc
Geoch. Botsford made a stipulation &C.
knowledging his claim satisfied and his
suit against McGeech, Everingham & Co.
was dismissed.
confession of judgment for $3.50 was
obtained by the Continental bank against
the provision firm of Whitcomb & Kendall
in the superior court to-day. An execution
was ordered and levy made, but the re-
turn was: "No property found" The bank
then garnisheed various firms that are sup
posed to owe money to their debtors.
On the board of trade the market
was active and presented more life. Early
in the day.the feeling was easier and prices
declined 1a@4c below yesterdays clos
ing figures, influenced by unfavorabIe re-
ports from abroad and low prices in neigh
boring winter wheat markets. Later how
ever sharp speculative demand sprang
up with shorts buying freely and prices
were advanced 11ac@1Ic above inside fl
cures, receded trife and finally closed
$s@5s higher than at 1 o'clock yesterday.
Receipts continue fair, and it was rumor-
ed private cables quoted better feeling,
and this caused shorts to cover
In corn large business was transacted,
chiefly on speculative account, though q
good shipping demand also prevailed.
The feeling was unsettled,
and prices averaged considerably
lower all around, but closed with portion
of the decline recovered. At tbs opening
there was considerable pressure to sell.
The market opened L@3sc lover than
the closing figures on yesterday and de-
clined A@1c more. Later, however,
under an active demand with shorts COW
ering freely, influenced somewhat oy the
advance in wheat, the market became
stronger and advanced 14@13sc, fuotuat-
ed, and finally closed 4@1sc lower than
at O'Clock yesterday. Receipts continue
large, and foreign reports quoted an easier
feeling.
Cash oats were in fair demand and a shade
firmer. The demand was mainly specu-
lative. Sample lots were in good supply
and we're not selling with much readiness.
They were, in fact, rather slow and easy.
Future deliveries opened easy and sold
about 4c under yesterdays closing all
round. The decline was due mainly to
corn being lower. A steadier feeling fol-
lowed, for the offerings were only moderate
and the decline was recovered. After this
steady market was experienced and a fair
volume of business done.
Rye was 1c lo9eg. Liberal receipts, an
absence of shipping demand and weaker
corn market caused me decline. Cash was
taken mainly to fl contracts.
Barley dull and weak. Arrivals con-
tinue liberal. while the demand remains
limited. The demand also was confined
mainly to No. and the besl samples of
No. 8, while low grades of all kinds were
exceedingly dull and weak. Consignments
of lower grades have accumulateduntil hol-
ers in many instances were forced to sell.
This made competition between sellers,
and buyers taking advantage of the SIT
uation bid low, for they were almost cor
tain of having their bids accepted.
good business was reported on the
market for hog products, but the feeling
was nervous and unsettled, and prices |
exhibited considerable irregularity. |
Receipts of hogs were quite liberal