Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-30
Belief that the Clique Have Made a
Handsome Profit on the Deal.
WHEATHOLDS ITS OWN BRAVELY.
Other Cereals Steady and Provisions
Only Slightly Lower.
SOME INTEREST ON WALL STREET.
An Advance in Stocks Led by Denver &
RE Grande.
CHICAGO.
Especial Telegram to the Globe |

Special Telegram to the Globe.
CHICAGO, Jan. 29.-The agony is over.
This afternoon, to the astonishment Of the
uninitiated, the January corn corner went
to pieces. Men shouted for JOY or howled
for rage, as they saw dollars rolling to or
from them by the hundred in every bid.
The scene was as wild one as often oc-
ours on change. During the session of
the regular board prices had been fairly
we'll sustained, the collapse not occurring
until the last hour of trading. AZ o'clock
January corn closed at 6615@G7:
On the afternoon call there was an
ominous lack of trading in provisions
and in wheat, there being only 10000
bushels Of the cereal sold.
When corn was reached then came the
widest kind of excitement. The January
option opened at Csc, and in ten minutes
sold down to size bushel, drop Of Sc,
The market vent down by quarter aud
half cents at time, and so rapidly that
but $4,000 bushels were sold cuk It was
tn n, of course, clear as day light that the
clique had dropped its deal and it was be-
lieved that in order to hedge they were
selling February, they being un-
able to sell all their cash or
January holdings. February went down
on the call to 544c, and after the call to
5415c; May, after call, to 5612c. There
was great excitement all through the ses-
sion, and after the call the collapse of the
corner was the one topic of conversation.
One week ago to-day sic was bid and paid.
On Saturday the closing sale was made at
Csc. What to-moFrow's figure will be is
problametic. The bears confidently claim
they can put it down to SOC, and, while
they acknowledge that the clique still has
the power to give the maket another up,
they are confident it viii not be attempted
on account of the cost. as corn that is
bound to grade is being poured into the
city in quantities heretofore unapproached
during the season. Grain in transit ship
ped by country dealers who hoped to take
advantage of the manipulated prices, will
prove heavy disappointment to its own
ers. Last week began with January corn
worth 71c. Then the Lyon injunction gave
things temporary setback, but the
week closed at So. This afternoon,
after trading was over, brokers
were reported to be searching
for buyers at 56c. Lindblum personally
managed the unloading on the call board,
and when the moment bids sleckened
would drop another quarter off to draw out
fresh buyers. While he and his heUten-
ants were thus engaged, nearly score of
brokers employed by him wers circulated
in the bucket shops and in the Galley ped
ding out small lots at any price offered
Before the news on call could be circulat-
ed it is said fully quarter million bush
els were taken by the gudgeons. The
bucket shop traders have nearly all
been long lately to their full extent, and
dozens of them are ruined One shop,
Crafts is said to be stuck on twenty nine
of its customers and liable to go under.
The big traders were more careful, most of
them, and the fellows who feel most are
those who settled between so and zoe. Very
few shorts are now left, the clique having
offered liberal concessions to make settle
ment, and trades on several million bushels
were closed last week. It is understood
that Lyon was compromised with at Soc.
To-day has nearly wiped out the remain
ing outstanding shortage. The
clique did not show. its hand
on the regular board, but continued
its bluff The market was active, and a
large business, especially on speculative
account, was transacted. The feeling was
more unsettled than usual, and prices sub
ject to frequent and severe fluctuations.
Prices ruled lower all around, with May
not ruling as weak as the other futures.
The receipts we're very large, 7O2 cars of
all grades being inspected into store, of
which 243 cars inspected were No. ? and
high mixed. The liberal receipts caused
more pressure to sell, though at the
same time it was rumored that
the parties heretofore interested
in bulling the market were selling freely.
January declined 115c and closed &c
lower than Saturday, February and March
declined with numerous ductuatons IL a
17ao and closed 1870 lover for February
and &c lower for March than The closing
figures Saturday; May declined about &c
early, bat later advanced 58@2lc and
finally closed at IS lower than Saturday
In the manipulated delivery only al
occasional trade was made and it was diff
fcult at times to obtain market quota.
tions. Sales ranged at 66@6715c ani
closed nominal at aboat 6615 csc.
The call caused a showdown. Fol
February aIops k75OOO hushaIs ehanOec
hands; for MaTca 250,000, and for May
over 100000 LiAdbIum is non-communi
cative concerning the failure or success o.
the deal, aud refused to say else than tha
he was satisfied or ne would have done
otherwise. 1t IS believed there is goot
profit for the clique anyway. They began
buying at 1880, and put on the brakes al
55, buying only when necessary to keeI