St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-14
There is Good Deal Less Speculation in
Corn Than in the Chances for
Corn Corner.
wall Street Enjoyed a Day OF Unusual
Animation. and all Leading Stocks
Get Little Boom.
CHICAGO.
fppecial Telegram 10 The Globe /

which Closed &c higher. There Is considerable
diversity Of opinion TO the existence OF a cor
ner in this option, which has tendency to keep
Il active. Year corn only went up &c. Oats
were firm and &c higher for November. Provi
sions were more active and stronger, notwith-
standing material increase in arrival OF hogs
and pork closed loo above yesterdays dgures
! lard 25Ec higher and January ribs SC higher.
Closing quotations on the afternoon board were
December wheat 7s1se, November corn 45c, May
oats ssc, January lard SO. s7x, January ribs
IS IS.
In the wheat pit the smaller fry were were on
the bear side. probsbly on the ground that as
values went mp yesterday they would 20 down
to-day, bat the heavier operators seemed in.
elined to bull the market in the face OF dull aud
depressed foreign markets and an increase OF
100000 bushels Of wheat on passage to the
United Kingdom and the continent They had
however, on their side the stable factor for low
prices smaller receipts and reduced acreage
for next years crop. The opening was steady
at about yesterdays close, and went up &C, the
advance being helped along by private cables re-
porting better feeling abroad Kent & Adams
began covering al the top and quite a number OF
other brokers bought lines ranging from 900 TO
$4,000 bushels. McHenry was also persistent
December. On the other hand Schwartz &
Dupee were reported to have sold SOC, 900 bushels
for Billy Murray. This and free selling BY a
crowd Of scalpers the bear side, with realizing
by some Of the bulls, coupled with the absence
Of outside support, caused a weak feeling the
latter part Of the morning session and a decline
OF nc. In the afternoon the market hrmed up
up again on a telegram from New York that
freight room for l,000,0 900 bushels OF grain had
been taken for export at the four chief ports,
while New York exporters had taken 100000
bushels and negotiations were pend
ing for twenty boat loads more
The result was that at the close
prices were &c better than at the same time
yesterday and the feeling strong. November
opened at &c, ranged at Al Z 672Kc, and closed
at 72sc. December opened at 73k, sold At
7szc, declined TO 7Slc, rallied and closed on the
regular session at 7si4c, and on the afternoon
board at 7SHc. January closed at 74Sc No.
spring in car lots was in good supply and sold at
72h@72Sc cash. No. sold at 56X057Kc.
No. red winter sold at 73GT3kc, and No.
at Gle
Viewed from the present standpoint" said
A. NJ. Wright. Il am unable 10 discover any evil
dence Of legitimate character likely TO cause
an advance, and think that any improvement that
may be secured by speculative Manifestations
viii be temporary, as the consuming market of
the world, being well advised as TO the extent OF
the reserves in producing counties, are in no
hurry IN secure supplies in advance OF wants ON
the contrary, they are disposed TO allow the bulk
OF stocks to remain near the source OF produc-
ton until needed for immediate distribution 10
business
There was good deal Of lveliness about the
corn PIT and the prices generally were higher
The fluctuations In the November option were
wide, and owing to the uncertainty about a
corner IL, its future Is hard 10 predict. Quite
number of persons who ought TO be wei up on
'aley' topics think they see strong evidences OF
corner. There is little doubt that the crowd is
principally on the short side OF the option and
this fact, in connection with light stocks and re-
ceipts. good demand and bad weather for curing
the new crop, make the time seem ripe for ma
nipulation OF some kind and bull operators pre-
dict 55c or Coo for this month great manv
are disappointed in the hopes they have built on
the new crop. II does not dry out as rapidly As
was expected and there Is also some COMPLAINT
where they looked for an extra crop in auant
ity as well quality Receivers
generally expect increased receipts next week.
but il is not thought that much of II will 20 As
high as No. 9. The situation seems 10 narrow
down to abont this. II there is any concentrated
holding there is pretty certain to be shortage
enough TO make a bad squeeze, but IL not every
body will turn seller and the break will be a bad
one. There are any number OF small holders who
bought for corner last month, and who have
held on ever since.
a don't know just what the boys are doing I'm
November corn. said Bliss this forenoon. s.but
think it's dangerous option to be short of
shortly after the opening the market was
stimulated by the demand OF November shorts
Harry Champline, Jim Love, J. NJ. Baxter. and
several others OF the secret coterie of brokers
who circled around P. .. weare in the late Sen.
TENDER corn deal. were bidding IN November
this morning. but a noticeable feature Of the de-
mand for this option was the fact that none Of
them bid for less than $4,000 bu-hel lots
few outside shorts occasionally put IN for
5000 bushel lot but it couldn't be got. The
clique doing that sort OF business. Novem
Der was bid up &c, but the advance induced
free selling. and there was decline OF iisc. and
another rally at the close TO within &c OF the
highes; figures. the last quotation bcin, 4se
sainst Isc'sc yesterday afternoon. There was
also good demand for year, bnt the range was
much more moderate and after going up &c 10
40c. il declined 10 sage, and finally closed AZ
$3.50.
Ilamill & Brine say: eve can see nothing IN
indicate concentration OF the November OPTIONS
nor any sign, so far. of manipulation. The ner
vous condition OF the November market sna
consequent rapid fluctuations. are attributable.
we think. 10 the covering OF short contracts
whilc traders generally confne eiroperatious IN
more deferred deliveries"
= wilmire, Bodmal & Co. say: 1--WE see no
good in the market either way just now. The
trading Is too light and public sentiment too
fcklc and uncertain 10 sustain values bevoni
most insignificant changes. There are no point
ers wor6hy OF mention. except. perhaps all are
expecting falling OF in receipts and better
prices and are waiting 10 see. Corn is absorbing
the attention OF the more active Spectators Of
late. All seem to have made mp their minds that
there is nothing in wheat for the present Stocks
abroad are reported as one-third less than At thc
same time last year and exporters are sn-icipat-
ing better export demand next month. Tho
prevailing sentiment still iEclines 10 the hpu
side. That is sll. We think we must De near
the bottom for the present.
Oats ruled firm and the volume Of trading was
firm. Consumptive demand was good and there
seems 10 be general confidence in current val.
ues. AS compared with last night November
closed "a higher at &c = &c and May unchanged AT
2sc,
Provisions were fairly active, and a stead;s,
feeling prevailed in spite Of the heavy recepts of
hogs, which was partly owing to the steadjer
foreign adrfces and an advance OF Sd in Lirerpool
for lard. Eastern markets were fairly active
and the shipping demand here was good. Janu-
airy pork fuctuated between Sill % and s11 an
closing at the outside hgure, and lOc above YES.
terday. and the February options showed a
similar increase. Il fiuctuated between 81 erE
and $il-5o, closing at the outside. Lard for
prompt delivery yet demands good premium
&c having been paid to-day over the November
option. November opened &c highar at So ss.
ranged at $3.50 and So.s7K and closed At the
oDeniHg figure. January opened at $3.50 and