Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-04-27
A Weak Opening but Subsequent Stiff
ening Of Prices.
CORN MORE ACTIVE AND FIRMER,
Provisions Lower on All Varieties and
Not Sought After.
LITTLE BUSINESS ON WALL STREET
The Granger Stocks the Best Deals on
Account Of Large Earnings.
CHICAGO.
Especial Telegram to the Globe. I

|
CHICAGO, April 26.-A little more activi-
ity was manifested on change to-day, but
prices were quite irregular and the feeling
rather unsettled. At the opening both grain
and provisions were weaker and lower, but
the decline brought out an active demand
to cover shorts, while local brokers also
bought freely for scalp on an upward
turn, majority of operators thinking that
the break was too severe to be permanent.
| Consequently when the urgent sellers had
sold out, prices reacted all round, carrying
values above yesterdays closing quota
tions. The afternoon feeling in the grain
markets was not SO strong, however, and
prices settled back somewhat, provisions
holding up quite firm with yesterday after
noon's sharp break more than recovered.
The furry over the failure of Handy, Rich
ardson & Co., seems to have subsided with
the day on which it occurred. The matter
was not the subject of any general discus.
| sion on the board to-day, and the few COM
ments that it ELECTED were generally in the
way of regrets for Handy's enforced re-
tirement from any deals for the present at
least. 1t seems to be generally believed
that the suspension is only temporary, and
that it has affected nobody, not even the
market, for even the briefest moment
ut has hurt nobody that I know Of"
said prominent operator to your CORE
| spondent this morning, ''and believe they
suspended simply because they had got to
the end of their rope"
Il can't tell you anything about the sus-
pension" said Mr.. Handy. ''It is nobody's
business except mine and my creditors'
The public has no concern in the affair. 1
can't give even an approximate estimate of
my liabilities and assets. To do so would
be to forestall the statement which 1 am
preparing to give my creditors"
SLOW will you give it to them? At
meeting Of these gentlemen or through the
courts?"
Il will send it to each one of them by
mail as early as Monday next. Most of
them are scattered over the country"
SIS it true that your failure was due to
private speculations of your own, apart
from the frm?''
81 can't say"
That statement has been made"
Il can't help it,
''Do you deny that such is the fact?"
81 neither deny it or affirm it."
'Will the suspension be final or only
temporary"
Il don't know about my partner, but so
far as l am concerned, it is only tenn
porary."
Mr.. Handy was extremely nervous, and
his mental irritation showed itself in a
constant twitching of the facial muscles,
but he could not be persuaded on any &C
count to give up any information, except
to sneer at the statement of a
morning paper that he had been short on
400, 600 bushels of wheat. He admitted by
silence, that, being short on wheat for May
was one cause of his suspension.
Richardson, this afternoon, filed a bill
of complaint against Handy. The bill sets
forth that their copartnership was entered
into on the I'd day of January, 1888, and
by its terms each partner was to share
equally the losses and profits of the firm;
that they have become embarrassed fnan-
cially, and various suits have been insti-
tuted against the firm. He asks for re-
ceiVer. The suit is evidently a friendly
one. Although the liabilities of the firm
of Handy individually are large, a good
share are secured on Handy's property,
being for borrowed money sunk in their
speculations. Hence the country cus-
toners will be the main losers.
In wheat on the board fair aggregate
business was transacted early in the day,
owing to numerous selling orders, being
continuation of the weakness which ex-
listed yesterday, the market ruled lower and
prices soon declined to a point about IL
@15sc below the closing figures on change
yesterday. Fine warm weather early in
the day probably assisted the decline.
Later, however, under a more active de-
mand, especially for June and July deliv-
somewhat by indications of stormy wealth
or, and other futures sympathized and
prices were advanced 1A@2c above in
side figures, then fuctuated and finally
closed about 1S@4c higher than the clos
ing figure on change and 3s6 %c better
than the last sales on call yesterday. In
the afternoon the feeling again became
easier, and values acceded 4@56c, July
closing just where it did yesterday after
noon, but May holding 55sc better than
then. Winter wheat was in better de-
mand; No. 2 red was quiet and
1c lower at the opening, but fully re-
covered. Spring was quiet with little
| offered.
Flour was more quiet, and there was less
disposition shown to trade, with the weak
ness in wheat-taking buyers of the trade.
while the advance demanded by dealers
has checked what little prospect there was
for sales. Rye -four slow and dull. Bran
and all millstuffs were in light supply and
holding at fully previous prices.
There was fairly active business trans
acted in corn on the board and stronger
feeling most of the session. At the close