Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-04
LOOKING UP A LITTLE.
Stocks in Wall Street and Wheat in
Chicago.
LIVE HOGS IN GOOD RECEIPT
And Prices yirm, Germ and Oats
Weak and Irregular.
DEFAULTING FIRM REINsTATED.
The Chicago Board Of Trade Give
Seymour, Hunt & Co. Another
Chance.
CHICAGO.
Especial Telegram to the Globe. |

terday, and the tendency of corn was to
advance. Provisions, however, continued
depressed.
In wheat there was only moderate
business, but prices changed q on Janua-
ry during the session, and February about
| &c, and at the close the market was about
the same as it closed at 1 o'clock yes
terday. February 35c higher, March &c
higher and May 15c higher. Early sales
were at trifiing advance on the closing
figures at 1 o'clock yesterdaE
sold up vigorously about 1ac, after
wards weakened and fell 4@2Sc, then
changed slightly and closed quiet. On
call this market held quiet and steady.
Spring is in fair inquiry and winter
| steady.
Flour continues slow and the feeling in
the. trade is one of oullness, with home
trade buying quite light quantity, out
side orders have fallen off heavily in the
past few days. Prices are weak and have
been shaded to sell.
On the board there was light business
transacted in the corn market and at times
the feeling was quite dull. Receipts coz
tinue quite free. The market advices from
other points quoted quietness, dullness and
the market was governed mostly by
local influences. Prices huctuated
within a small range, rallied shade above
the closing prices on change yesterday, at
one time ruling 2S@15c higher, but the
outside price was not sustained and the
closing about the same as the closing fig
ures on change yesterday. No. 2 rather
quiet, closed dull at 49c4; high mixed in
some request. Rye in moderate demand;
new mixed in good demand. Ear corn
plenty and lower; on call the demand was
better, prices ranged 1s@4c higher. The
receipts to-day we're 500 cars.
Oats were quiet, and after the first open
ing, slow and dull, with offerings of cash
lighter, the weakness in the corn mar
ket giving weak tone to the trade, and
all through futures suffered something of
a decline, were called for to quite light
extent the latter part of the session. No.
cash sold 35@3518c, closing at the in
side. Samples going out reasonably well,
though selling at previous prices. Sill the
supply was lighter and no great trouble
was had in finding sale. In the after
noon the weakness was even more marked.
Rye and barley continue dull and neg
lected, showing little change.
In provisions the market was moderate
ly active in speculative way. The feeling
was weak, lower range of prices prevail
ing. The offerings of leading articles for
future delivery were few, and while early
in the day the feeling was rather frmer,
they ruled weak during the greater por-
ton of the session, and closed at moder-
ate decline on yesterday. The shipping
demand continues fair, but the receipts of
hogs are hardly as large as the majority
calculated upon.
Pork was moderately active, unsettled,
weak and lower, closing at decline of 10
@121ac per bbl. The offerings of futures
were rather few early in the day, and the
feeling was weak during the greater part
of the session. Cash was dull at January
prices.
Lard was quite active, weak and un-
settled, closing at a decline of 58715c per
100 lbs. Cash quiet. On call both were
weaker and 21a@5c lower than on the
regular board.
Twenty-eight thousand live hogs have
arrived during the past twenty -four hours
and found good market at yesterdays
prices.
At the next meeting of the directors the
petition of Seymour, Hunt & Co. for rein
statement will be considered. This firm
set the fashion of defaulting. There had
of course been prior defaults and appeals
to arbitration COMMITTEES, but not until this
concern from Gotham defed the arbitra-
tors decision was it fashionable for mem
bers of the Chicago board to lay down on
their contracts. This firm was caught
short by Handy in the famous July wheat
corner engineered by him through J. w.
Preston & Go. Seymour, Hunt & Co. were
stubborn sellers and refused to settle up
to the last. On the first day of August
they owed one of Handy's brokers (Hokin-
yan) $4,000. They refused to settle on
the ground that the market had been cor
nered and that the price was exorbitant
They appealed for a committee and got
one. They had no case, however.
Wheat went higher in August than
Handy had put it in July, and
the decision was against the New Yorkers.
The matter was carried into the courts.
The defaulters were beaten, as all de-
faulters have been, and an Injunction.
which had been issued to prevent the
board from suspending the recalcitrants,
was raised. The suspension followed. 1t has
always been claimed on the street that
Seymour, Hunt & Co. were speculating on
their own account, and the $4,000 they
lost to Handy was their own. The firm
claimed it belonged to customers and men
compelled to default. Handy has now
paid his $S0,000,and the proceedings of the
courts have been dismissed. Messrs. Sey-
mour, Hunt & Co. will be reinstated, and
one of the most notable instances of contu-
meciousness on the part of the board of