Daily globe., 1883-07-01


and was 6rmer and higher, selling up to
SOC per Dbl. in advance of the closing
price yesterday, and while reacting some,
closed at an advance OF 3715@4Oc per bbl.
There was very good demand from the
short interest and also some purchases on
investment account, the opinion gaining
ground that it is about time that values
took an upward turn. The shipping de-
mand is not urgent and the outgo is not
large.
Lard was also moderately active and
the market was frmer and prices were
higher, the demand being quite good, both
for immediate and future delivery. Prices
at one time reached 25c per 100 lbs. above
the figures current at the close of 'change
on Friday and closed at an advance of 20
@2215c per 100 pounds. Shipments for
the week aggregate $4,000 tierces.
the receipts of grain to-day were 68 cars
of wheat, 376 of corn and 1O3 of oats.
Shipments of Il, ,525 barrels of -four, 75,528
bushels wheat, 3O3, ,846 bushels corn, 1915
bushels oats, 1,096 barrels pork, and 1922
595 pounds lard were reported for the day.
Vessels were chartered to carry 100000
bushels corn and LOG, 900 bushels oats.
Lindblom voices the bull view of the
situation. He says: Tine weakness this
morning brought in some good buyers who
believe in wheat and are able to take care
of it. We will have no more panics or
more failures. The wreckers have had
their day and will retire to the obscurity
from which they emerged. We are now
down on a shipping as we'll as
safe speculative basis, and
those who buy now are buying
gold at par. REPORTS from spring wheat
sections have been very cheerful and yet
We know that the cereal has never beeen in
greater jeopardy than now. 1t would not
surprise Us 10 see p regular scare on spring
wheat prospects. Corn Is a shade higher,
but we do not believe in long corn, and vet
we would rather buy than sell now, simply
because we have had big break. Oats
are strong. The entire stock will be ship
ped out the next few days and old oats at
33c are not high. Provisions are strong.
At one time it was impossible to buy at
any price. We are now on a solid basis
all around"
Poole, Kent & Co. said: ''The short in
terest in grain, particularly corn, had be-
come so large that under an urgent desire
to cover to-day prices ad-
vanced with slight interruption
to the close. We cannot say as to this
advance being permanent, as we are in
clined to attribute the strength manifested
just now to the general desire among the
trade to close up outstanding deals in
anticipation of the holiday recess. Shorts
were free buyers of corn. The offerings
were rather restricted the entire session,
and it was with considerable difficulty that
any large amount of corn was purchased,
operators seeming to look for higher
prices and not being disposed to sell their
property. We do not think anyone but
shorts were buying, but the fact of the large
ones being such free buyers, started the
smaller ones to covering. This, coupled
with the before mentioned facts and the
strength in wheat, forced prices to the
highest point of the day. We rather think
the market will show little advance until
after the Fourth, as operators will prefer
remaining quiet until that time. Receipts
and shipments are about as has been the
average.
Ulrlch King, prominent provisions ex-
porter, believes the course of products will
be upward. He was a bear when the
break occurred.
The creditors of M. S. Nichols & Co. met
this afternoon to hear the report of the
committee which has been investigating
the condition of the firm. 1t was resolved
that the book assets be placed in the hands
of Messrs. Trego and G.. G. Ball as trus-
tees for the creditors pending negotia-
tions for a settlement, Nichols &
Co. signing an authorization for
them to take charge of their
affairs. Regarding recent structures as to
the honesty of the failure the committee
was unanimous that Mr.. Nichols has acted
in most honorable manner. He had been
doing one of the largest businesses done
on the board-more in fact than he could
handle. Losses and expenses have eaten
IL hAo ACOSOLo NO HAdG 10 uOW 0A-
pected he can pay fifty cents on the dollar,
but this is regarded as the outside limit
The committee investigating the lard
adulteration matter is to report Monday.
To-day the perjury cases against Nc
Callum land Laskey, two of McGeoch's
Witnesses, were dropped for want of pro-
secution.
The board of railroad and warehouse
commissioners have decided to advance
the fees for inspecting grain, as follows:
In inspection from SOC to 35c per car; out
inspection from 40 to soc per 1000 bushels.
The new rule goes into effect July 1st.
The settlement price for overplus lard
deliverable on July contracts has been
fixed at $9.3215
The aggregate shipment of lard during
the past two weeks reach $4,000 tierces of
of the value of S2,40O,OO0.
Shippers to this market will bear in
mind that on Wednesday and Thursday
next there will be no session of the board
of trade, and they will save mouey by so
arranging that their consignmepts will
not arrive here on those days.