St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-09-19
Wheat Scores a Half Cent Advance in
Spite Of Adverse For
eign Quotations.
CHICAGO
Special Telegram to the Globe. I

being put up Sc on the September option and
1c on the October. Wheat was also active
and higher and in both cereals the same
nervousness exhibited during the previous
days 0? the week was shown by operators.
On the afternoon board wheat and the long
options of corn weakened a shade, but Sep
tember corn advanced 1c, making the &c
gain, which gave the futures strength and
the reaction carried prices up shade beyond
the ciosiDgs on the regular board. Oats we're
firm on the morning boari, but weakened
somewhat in the afternoon and provisions
were duh and nominal most of the day. The
closing figures for October were: Wheat,
T714c, a gain Of &c; corn sac, a gain of 1c;
oats, 2515c, a loss Of 14c; pork, Sl6.75, de-
cline of 25c; lard, $T15, and ribs, $500,
unchanged
Wheat was quoted quiet in Liverpool, and
cargoes to arrive easier, at decline of Cd
per quarter on California, and the market
here responded, with dull and weak open
ing. But our re ceipts failed to show much
increase on yesterdays moderate arrivals,
aud at other leading points they were only
fair. Stronger quotations came from New
have been bought in for account of European
operators, who nave recently been heavy sell
ers Of futures in the leading American mar
kets, and an additional installment Of stories
about dry weather and restricted operations
in the winter wheat belt were in circulation
These factors were turned to good account
by the bulls who have been manipulating the
market and as the bears were timid and not
inclined to stand on their deals, it required
but slight effort to start and keep up an ad-
vance. There were, however, few strong
features Ola Legitimate character to justify the
appreciation. The late advices from New York
stated that the export demand had almost
entirely disappeared since the recent advanc
there, and the statement Of the available sup
ply in sight in this country and ahoat on the
ocean for Europe showed an increase of
100000 bushels over last Thursdays state
ment Unless a better shipping demand is
speedily developed there appears to be little
in the situation TO sustain prices. The re-
ccipts here were 23G cars and the Withdrawals
from store were very light, 27,425 bushels
against III, 600 Yesterday. There was good
deal of active trading, but the feeling was
nervous and fluctuations rapid. October
opened a shade lower at 7G5{c, receded to
76bc, when free buying to cover contracts
and liberal tal0ngs by scalpers started prices
on the up grade, the most prominent pur-
chasers being Comstock, Carr 81
SlautTcr. Quotations reached 7754c, but
there was SO much realizing at the top that
prices dropped to n close Of 771ic on the
morning board, but recovered to 7795c in
the afternoon. November is now the most
active deal, and operators are transferring
October deals TO that month, which opened
at 5Sjsc, receded to rs 4 c, advanced to 79J5c
and closed at 19lsc. No. ? spring sold at
757s@7G2lc and closed at 75IS@76L, and
No. 3 spring closed ut 551(a5sc Winter
grades advanced 1l4@12Ic and closed at lie
for No. red; G+l5@G5c for No. 3, and 4sc
for regular.
said c. d. Hamill to-day "The low
prices recently current have had the effect
of curtailing farmers deliveries, and the
outlook is for only very moderate receipts
for some time to come. The tone of the
market and the feeling of operators have
very lately undergone a noticeable change.
and should foreign markets retain the
strength and better feeling which are indi-
Gated by recent ndvices / think the period of
depression is past and look for activity and
good trading markets heuceforth.n
Corn was active and further sharp ad-
vance was scored, the closing price Of cash
aud September being at the outside figures
Of the day. The receipts were smaller and
the manipuiators, seeing their advantage
and being desirous Of whipping the shorts in
and knowing the small offerings for Septem-
Der gave them control OF the situation,
made good Use of their opportunity and Sc
cured a sharp adv ance. At the opening OF
the session the burly form of Mr.. A. G.
Low, surmounted by a chip hat OF unknown
age, might have been seen moving toward
the cash crowd. Mr.. Lows pockets were
we'll filled with buying orders and that gen
tlcman operated with 4 confidence that gave
the impression that there were millions be-
hind him. Low opened the bali this morn
Ing by buyiug the carloads OF corn at 5SiSc.
He wauted more and was promptly accom-
moiated for the crowd seemed 10 be pretty
wei loaded. He kept on buying, filing one.
trading card after another until he had
ttAN'A tt eSNNl1t uNuAEtQ cari0auS
Hutch" was at times an interested OBJ
server and SO far forgot that he was run
ming the deal through broker As to bid 50 sc,
The market weutup to Gee, and still the
clique broker Was anxious to buy. 1t is
claimed that the September corner is the
ioiut scheme of several men well known on
Change. Baker, Wease, Kent, Hutchinson
and Simous are frequently spoken Of in this
connection. Whoever is behind the deal. it
IS apparent that they have confidence in their
ability 10 take care of all cash offerings. and
It is predicted that the selling price FOR Sep
tember shorts viii not be less than Csc.
There is, however, good deal Of corn in the
country that viii be rushed to market during
the next two weeks in case the market is
sustained, making the ultimate success OF
the corner somewhat problenatical Cash
opened &c higher al soc, sold up and closed At
G0c. September opened at SSc and closed
on the regular hoard at 60c and on the fore
noon board at sic, and October opened at
5Sisc and closed on both boards at SIC. The
leading buyers were Pickering. Stanley,
Brown, Baker, Wheeler & Gregory, Hep
burn, Baxter, David Dows, Poole and Rum
sey. Among the sellers were Canther.
Champliu, KOmmerer aud Bliss
Nglniue x Bodman say; 'sThe shorts in
September and October are very weak and