Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-31
CHICAGO.
Especial Telegram to the Globe. |

CHICAGO. Jan. OO.-MalIerS were rdIHer
quiet on change to-day. The clique run
ming the late corner had very little to say,
not even Offering much for sale. Lind
blom kept outside the corn pit most of
the time this morning, occasionally going
into the crowd and looking around to see
what was being done, seemingly as little
interested as if he never bought or sold
busheI of corn in his life. Lindblom is a
very blonde and innocent looking Scandi
navian, who in thirty-fve summers has
been able to raise crop of struggling
silky yellow whiskers and several
big sculations on the board
He is both shrewd and daring
and has made lots of money.
The smaller traders had a good deal of
business to close before the end of the
month and for time kept trading active
and large speculative business was trans
acted for the various deliveries. The feel
ing developed was greatly unsettled and
prices were subject to frequent and severe
fluctuations within a lower range. The
speculative offerings we're very liberal, and
the pressure to sell caused sharp decline.
The receipts were also very large, and this
aided in creating weakness. Of course the
fact that the parties who had
been controlling the corn mar
ket had sold out influenced
other parties to sell. The declining IN
prices exhausted good many margins and
this property was also thrown upon the
market, all tending to produce weakness.
January which had suffered so severly yes
terday afternoon on the calls suffered fur
ther decline to-day, reaching a point 15c
lower than the highest point recently
reached, and closed about 1215c lower
than the closing figures at 1 o'clock yes
terday. February declined 218c, March
115c, and May 38c below the closing figures
on change yesterday, then rallied 100
1870, fuctuated and closed about 415c
lower for February, 115c lower for March
and &c lower for May than the closing
figures on change yesterday. No. 2 was
in fair demand, but offered more freely
with sales of car lots ranging at SEQ $500
down to SAC, and closed at about 54c.
Round lots quotably the same as January.
Rejected in moderate request and closed at
Az a. 45c. New mixed closed at 4734c.
Sample corn active at lower prices; offer
ings liberal. January was quiet and weak
er, with sales at 58c down to sac, and
closed at about SAC. There were large
offerings but no demand whatever at
times, hence it was difficult
for parties to sell. On the
call the clique brokers dropped another
large lot of February, causing that future
to lose another &c. January was hardly
traded in, but what little was sold brought
4@12c better prices than at the close Of
the regular board. About 100000 bush
elsof all deliveries, mainly, however, Feb
ruary and March, changed hands during
the call.
Now that the matter is looked into it be-
comes apparent that the clique has made
more money out of the raid than was
thought yesterday.
~ No great deal has been success
fully run in the market for decade
that has not been carried through the
month. This is the reason the crowd could
not divine the reason for last nights selling
by the clique. Neither could it guess the
clique's plans for the future. One thing
was apparent, Handy and mis- friends sold
corn, not that they were compelled, but be-
cause it was part of their plan. None were
better pleased at night than Handy, and
LindblOm, his broker, and the New York
ers here interested in the deal.
L.
Wheeler, who has been here in
the interest of Mr.. w. S. Williams,
of New York, who said last Saturday
that the principal short corn unsettled was
that sold by David Dows & Co. Dows &
Co. settled their shorts at noon at Csc.
1t would not pay to stand for the next
three days and take all the cash corn that
arrives at higher figure only to squeeze
the sellers of the half million or so bush
els of short corn remaining outstanding.
This was unloaded tolerably successfully.
little of it quite likely at loss, but not
enough to cut any figure. Half a million
dollars is the estimate now made on the
profits of the deal. It would have been
more, but the manipulators were compelled
TO buy large quantities of February and
May during the operation to strengthen
prices. It is said they were long to the
extent of 100000 bushels on February al
one time, but found market for it. The
remainder is being Jumped off for what il
will bring. A remarkable thing about the
deal is that the clique has thoroughly con
verted the country to a belief in higE
priced corn. At the beginning of the yeal
few were to be found who believed tha
corn was worth soc. Now the crowd i!
talking 6Oc corn for FEBRUARY and May.
Wheat to-day was active and gene rally
stronger, and at the close, February
was &c higher than it closed at 1 o'clocl
yesterday, March a c higher and May sst
higher. The market opened weak, chiefly
IN sympathy with the heavy break in corn
and the early sales were at fully 15c de-