Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-07-02
A CONSIDERABLE RISE IN PRICES.
PROVISIONS TAKE A TURN UP.
CHICAGO.
| Special Telegram to the Globe.


change to-day was frmer than it has been
for two weeks past. Everything opened
higher, and after a couple of hours of
skirmishing between the bulls and bears,
during which q great deal Of stuff was
thrown on the market and readily taken
by buyers, the figures moved steadily up
ward, closing at q strong advance over
opening prices. Phil. Armour returned
this morning from his northern pleasure
trip, and the sight OF his jolly face On
change seemed to inspire confidence
at once. There was 10 talk OF fail
Ur8s or panicky rumors Of
any kind, and il may be that this is the
turning point. Concerning the recent
rumors affecting his standing, Mr. Armour
said to your cores onGeut: = have never
heard OF such a senseIess thing. There is
not the least shadow o. n Foundation for
one OF them or of suspect;ng that Armour
u Co. axe IN any trouble of any kind, or of
any house with which they are directly
connected. L am not the kind of a man to
go off fishing if there is any trouble of that
kind ahead, or even if we are carrying a
load of any kind. If Armour & Co. owe
any man a dollar who wants his money,
let him step up to the counter and
he will be paid 100 cents on demand for
evary dollar that is coming to him. The
fact is, we were never in as good condition
financially as We are to-day, or in a better
position to meet all the Legitimate de-
'nands that can be made upon US. never
(had 80 much ready money on hand as I
nave to-day, and the reports of our being
IN trouble are most absurd. We were not
connected with the McGeoch affair in any
way, except that we carried some stuff for
him as one merchant will for another in a
Legitimate way. We held property
against every dollar that we ad-
~7anced for him that was fully sufficient
TO meet his liability, and we did not lose a
dollar by his failure. We simply stood in
the position toward him that banker
would having good colIaterals for every
dollar that we advanced for him, and those
have all been disposed Of now, and his
affairs Strengthened out as far as we are
concerned, and as I said before there is not
a shadow OF foundation for the reports
that have been started about US. They are
the siIIiest things ever heard OF. I sup
pose some worthless wreckers started them
in the hope OF temporarily reap
ing an advantage from the general
confusion that might possibly re-
suit. I am confident no respecta-
bic merchant would have anything
to do with such proceedings, bit shers rs
some people everywhere whose business it
is tn live off the ruin Of Others"
Concerning the situation he said: ''There
has been sensIess scare. There is no rea-
son in the world that prices should go any
lower. They are now on legitimate ex-
port basis and products are moving salts
factorIIy. 1 think merchants have been
very conservative and that the wreckage
has been cleared away so that there will be
plain sailing for the future"
On the board wheat was YER Hctive,
though the trading was not on s, liberal
q scale as yesterday, but prices were
higher, and at the close July was 215o
higher than at o'clock yesterday. Sep
tember 234c higher and October Sc higher.
Early sales were at about 12c advance on
the closing figures at o'clock yesterday,
ruled tolerably steady for a time and then
became firm and sold up, with frequent
fluctuations, about Sc on July and 24@
PIC on the longer futures, weakened
some, then Auctuated, and closed quite
strong. Local spectators commenced to
buy freely. when the shorts became
alarmed and also bought heavily. This
demand soon impaired a buoyant feel
ing to the market and near the close
there was good deal OF excitement and a
sharp advance as compared with the last
sales on call yesterday. July is 3 Il C high
or, most substantial gain.
The -four market continues quiet, and
there;was an almost entire absence OF buy
ers with the depressed markets having
taken all the life out of this trade and
made it impossible to sell at near what is
called fair OF paying price. Home deal
.ers were not looking at samples, while the
only shipments are OF the lower grade
stock.
Corn was fairly active and somewhat
unsettled, but generally stronger, the long
futures showing more strong than cash o.
July. At the close July was 10 higher
than it closed at O'Clock yesterday, Aug
ust 115c higher, and September go high
or. There was quite break yesterday
afternoon, and while there were some sales
this forenoon below the closing figures or
change yesterday, the market soor
strengthened, Influenced by the strong
feeling in wheat, and July improved &c
August 115c, and September 12c. the
feeling being strong at the close. Cal
values yesterday we're 1c less for July, AMI
1lc less for August thar
those now prevailing. In oat
a more active and steadier market
was quotable under this head and price!
were averaging about yesterday, with the
better tone in other markets helping tt
heavier buying orders and advanced rates
Business in cash was higher than yester
day. Samples were slow and there wer
few shipping orders and low prices wer
ruling.
Rye continues dull and a shade lowe
prices were quotabIe to-day. There wa