Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-09-25
CHICAGO.
Especial Telegram to the Globe1


CHICAGO, Sept. 24-Wheat is up and
corn down to-day. Despite somewhat
cooler weather and advices denoting rain
in various parts of the country, corn was
a weak market. Receipts were very heavy,
exceeding 1000 cars, and Norman Ream
threw out heavy line of long stuff, which
more than overcame the advantages of
higher cables and short buying. The vol
ume of speculative business was large,
but the close tonight is 1c under Satur
day, and weaker than for some days. For
eign markets indicated q better tone in
wheat, and our market opened firm in sym
pathy, bnt the early advance did not hold.
On the weak spot st. Louis parties COM
menced covering large line
of shorts, which developed buying
orders from ali quarters, under
which considerable buoyancy was exhibit
ed. prices advancing 11Ic. The trade was
immense. Many of the heavy operators
took the bull side, but sales appeared 10 be
from parties who were buyers or the re
cent decline. This realizing caused some
weakness on call, but late prices we're firm
again. Ira Holmes bought in 100000
bushels short wheat, and Chas. MAR was a
heavy buyer. There wa5 only moderate
trade in provisions, few outside orders ap-
pearipg. Prices we're irregular,
marked advance obtaining but for
a short time while the close, al
though shade over Saturday, is
quite weak. Eldridge was q vigorous bull
on The board, but on call Withdrew his bids,
while heavy offerings were made by brok-
ers, and it was reported his party was IN
loading.
The new clearing house Just establish ed
on change under new rule was formally
opened for business to-day, and the rush
and excitement about the new place in the
Brunswick block was simply great. All
the forenoon there was a jam about the
window, and it was impossibls to get
through the business by II o'clock, when
the closing hour was named in its rules
and regulations. It is crude as yet, but
seems destined to prove success if the
opposition does not become too great at
|
bowling and kicking. Hardly state
ment put in the clearing house was right.
Some trades were not properly checked,
and as number of rings made Saturday
were busted, and it would take some time
to find cut where property should go,
showed that all other firms, perhaps, owed
them several hundred dollars, while the
latter's report showed they were not in
debted to them in any sum whatever. Of
course the checks turned in were therefore
wrong and it will be hard matter to find
out where the blame rests and who
should be fined. There were several
firms that did not put in any statement at
all, but 1t is not likely they will be posted
on change for it as this is the opening
day. 1t was claimed by great many
members the clearing house could net be
u success.
On the board this morning the receipt
of 440 cars of wheat induced some selling
for time, bat the Influences already re-
counted, together with bullish report:
Of short rye crop in Europe aud of in
creased complications in the relations oi
prominent continental powers which i
was thought might possibly result in war
tended to strengthen values. The market
was active throughout, advancing A@Bt
early, declined sc, again rallied quickly
among some excitement 124c, fuctuatec
somewhat, and closed 112c higher thar
Saturday. On the call board in the after
noon there was an active inquiry but free
offerings, 100000 bushels changed hands
} in fifteen minutes. Prices were irregular
, but lot much changed at the close. This
: evening 99o is asked for November. More
liberal shipments are reported to-day, the
! aggregate being 100000 bushels. Tit
: charters were $4,000 bushels.
- Althoug II the fluctuations in corn we're COL