St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-09-18
The Fact That Certain Prominent OPP
orators Are Putting Their Heads
Together Frequently
Creates the Suspicion in Some Quarters
That Gigantic Corner is Being
Erected on the Quiet.
CHICAGO.
Especial Telegram to the Globe. !

efal advance all along the line. Trading
was active at times bidding was very spirited
The local crowd busted themselves between
scalping the wheat market and specializing
in the probabilities concerning the corn
corner, for there is no longer much doubt in
the minds Of the majority of traders that
cash corn is being manipulated to an extent
seldom before seen. 1t is now whispered
that Armour and Sid. Kent are the prime
movers in this crusade against the shorts.
ArmOur's head broker is understood to have
been seen of late in frequent and mys-
terious conferences with Baker, and the
inference drawn therefIom is Of a nature
calculated to awaken in the bosoms
OF the shorts feelings Of the direst appreben-
sion. 1t was rumored about the alley to-day
that one Of the large operators was forced by
the sharp advance to buy in something like
2jO, 600 bushels OF short corn. This would
naturally contribute to the upward turn of
market already strong and advancing under
manipulation. Wheat also went up, though
not in SO startling a manner as corn did. It
was reported that the amount of this grain
taken for export was onls $4,000 bushels,
and in view Of this poor showing the export
demand, which they say is the only feature
which could influence the market to higher
prices, the bears are unable to account for an
advance OF over &c, and a strong market up 10
the close, Provisions are cutting almost no
figure on Change at the present time. Lard
was little lover and other articles about
steady. Closing quotations for the October
options were: Wheat, 76Ic, an advance Of
e
25Mc, an advance of 13c; pork s17, I'M
changed; lard S7.15, decline of re, and
ribs $3.50, unchanged.
Wheat attracted liberal share of atten-
ton from the shorts, VINO showed a DISPOSE
ton TO provide for their contracts, and al
though the announcement that the state
ment of the visible supply as compiled in
New York showed an increase OF a trife over
amillon,and half bushels, as compared with
last weeks statement, caused a temporary
weakness and 4 slight decline. At the open
ing the offerings were small, and under a
brisk demand prices soon turned upwards
and advanced 1@l4c from the lowest
points, closing at a shade under the highest
prices. There was very little increase Ia the
outside demand and London and Liverpool
dispatches quoted dull and quiet markets on
that side Of the Atlantic. But there was q
large line Of shorts out and the bulls took
advantage of a decrease of 1Gl cars, together
with the reports that dry weather in some sec
tions Of the winter wheat belt was interrupt
Ing plowing, and used that to good account
in frightening the shorts into covering
Nor, bearish opinion TO the contrary not
H. ia,
could have been reasonably looked for, as
the long depression has induced nearly all
the weak holders, as well as many outsiders
OF a more substantial character to close out
and shifted a large portion OF the load on to
strong professional mauipulators, who are
now turning every fayoriug circumstance
calculated TO influence prices upward to
good account, and while a further apprec-
alton in prices is not unlikely there is really
little in the situation to justify permanent
advance, as any material improvement will
be followed 10y increased arrivals. Receipts
to-day were PIG cars and Withdrawals from
store were 200 bushels, but no additional
freight room was taken to ship.
Late in the day a good many buying orders
were received from Liverpool, which leads
some to think that the western exporter will
now have chance in the foreign market
again. October opened at T64c, or &c
over the last sales Of yesterday; but under
the influence of the New York visible supply
statement aud a lack Of support, fell to
157sc, but rallied from this point under
strong demand 10 cover shorts and buying
by scalpcrs, and after frequent fluctuations
advanced to 11ls and closed at both boards
at 16$ic. November opened at 7s4c,
sold at 753+c@5SEc, and closed
at 1S5Sc. Red winter was in better
request and advanced sc, closing at 7914c.
No. spring closed at 15s@755sc.
y NJ. Wright begins 10 have some faith in
the wheat advance, and was a purchaser OF
lsvrc lines Of the near futures, and Nat
Jones' Notwithstanding his bear talk, was u
large buyer.
j. W. Rumsey said to-day: at looks as
though the turn had come and that better
prices are probable, as our latest private
cables from France are very favorable. The
tone Of our market is healthy, and l would
sun advise buying and hanging on"
Frank Kenuett said: Although I don't
anticipate a material advance in the near
future, look for higher prices eventually,
and advise following the long side on soft
spots"
Corn was active and the near futures ex-
cited. TIE New York estimates OF the visible
supply showed an increase of about 90. 000
bushels, but the bears became frightened at
decrease OF eT9 cars in the receipts, and
set about covering their contracts for this
and the next month with unusual energy,
and IS the bidding increased without s cor
responding response from ST. Louis. prices
bounded upward With run that reminds one
of old time trading. Cash and September
advanced S1le over tue lowest price OF the
day sud October sc, the advance being
pretty well sustained. The buying was done
principally by Wethereu, Schwartz * Dupee,
Comstock, Baker, Bliss, Hepburn, Brown,
Poole, Pope X Davis and MeCrea Baldwin
WAS higu seller and so were Stevens.
MoGarlane, Kammerer, Coulter and
Champiin. September opened at s5i<e.
advanced to sec aud closed at 5StSc on the
regular board, aud at 5Sc on the afternoon
board. where the feeling in the option was
weaker. October opened at 5Istc, sold up
to 5Sssc and closed at sSc. November
opened nj 44ilc, sold Al s5e and closed At
that figure.
Said George :. Brine: y stil think that