St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-09-09

or who is there aW fat on speculative gossip
who does not recall the regularly recurring
operations on the same plan at New York OF
HaZeltinc, and at Chicago of David Bows 81
Co., who is at the head of the present manip-
ulation. Remarkable as it may seem there
is no head 10 it. 1t doesn't need any. There
are so many silly sellers of corn for these
months and the farmers are so certain to
hold on TO what corn they have left and the
demand is so certain to be good at this sea-
son that corn Invariably corners itself just
as oats do in October and November. W. r.
Baker u Co. have been long presumably for
a rich trader at Kcnosha, Wis, and c.
B. Weare, rich local commission
man, has had perhaps several bushels
of corn and old Hutch Las had line. Was
it any great trick with not above 10000
bushels Of contract corn in the elevators.
with the demand from New York far exceed
ing receipts and with these houses 'long'
three or four times the amount in store and
the total shortage probably exceeding the
supply by many million bushels, to advance
September corn to 5Sc. The chances are
that cash corn will 90 above 60c, although
Neare, Baker and Hutchinson were all sell
ers Saturday, and none have the inclination
TO undertake the labor OF running corner
"a sustained corner. that is, that shall last
plump up to a delivery day, aid that shall
provide for the receipts day by day. Still
there is more shortage out for October than
for September, and vastly more for year
than for October. Now that the real
danger of squeeze is over, the
little shorts will become greatly alarmed and
ali try 20 cover at once. 1t ought to be a
good time for the farmers to sell their cash
corn-but not good time for q little spec
uiator, with no knowledge Of the situation, to
go short.
October was the most active future and
showed more strength than cash and Sep
TENDER, opening at 5355c, sold up to 5535c
and after repeated fluctuations closed at
5415c on both boards. November was fairly
active. 1t opened at 1870, sold up to 4715c
weakened after rapid fluctuations between
1870 and 47j5c and closed firmly at 4615c.
Milmine q Bodman say: THE outside
operators are all dropping their loads freely,
and farmers are disposed to market their
crops regardless of price. We think the lower
it goes the faster they will sell. We hope to
see the market touch bottom on this down
run, but think it viii sell several cents lower
ere we strike adequate export demand. We
do not think we will find good strong de-
mand until we strike about zoe for cash and
it looks now as if it would soon find that
price. When we can buy the long futures
at discount we shall feel like advising pur-
chases, but really We have no good reason
why November wheat should be worth more
than spot. Oats ruled rather easier, with a
fair trade, the demand continuing good,
preventing any heavy accumulation of stock
in store. Provisions were more
animated and weaker. owing to
free selling orders, mostly for lard and chiefly
on New York account. Foreign markets
were hfeless, but quoted easier, and shippers
were doing little or nothing. Lard was active
and weak, Raymond being free seller on
account Of certain parties and the price drop
ped soc on the October and November op-
tons, the former closing at S7.011l and the
latter at S1.0215. Pork was quiet and weak
and fell of to S17 for October and S11.4O for
year. Ribs were very dull and fell off 1Oc
for September and zoe for October, the clos
ings being respectively 1890 and S9.75.