St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-16

and euro. IL is said that Lester has a good
deal of corn bought especially for year, and
the impression is that he will try TO give the
option a little squeeze. Norm Ream said nine
months ago that the crowd would be beaten
in corn the year through and he was right
enough, but according 10 some brobers the
prophet himself got into the "crowd" aud
was beaten along with the rest. This opinion
is not unanimous, however, as evidenced by
the following dialogue, which took place in
brokers Office anent year corn:
''Whos got it.''
''NOrm Ream."
'Who wants itl''
''They all want it,"
'Who wants it the worstii
''Nat Jones, / guess, and, between 'em
both-Ream and Jones-they can probably
handle the crowd as they please.''
Still another statements TO the effect that
Jim Love and his friends hold all the cash
corn. Several individuals with consterna-
ton, or good imitation OF it, depicted on
their faces talked significantly with each
other and such expressions as, '"Nuther
corner-year corn 50c-told you so-make
the shor is sweat-light receipts-splendid
opportunity-Phil. Armour-unlawful man
ipulation " and others equally potentous
were emphatic enough to be audible. II is
thought that whoever is responsible for the
bulge is precipitating a settlement thus early
in the month on account Of the danger that,
as the weather groes colder and the receipts
grow higher, there will be less TO be made out
OF the necessities of the shorts. Nathan
Smith sold one lot of 200, 900 bushels Of jan
uary corn to Murry Nelson at 35c. Every
body was an xious TO know who was going
short Of this grain for so near an option, for
Smith does not trade in these sized lots him
SELF and as TO the traders in year corn, they
were legion, there being hardly broker of
prominence on the floor who didn't take a
hand. In their circular to night MINNIE,
Bodman d Co., have the following interest
ing matter;
''We have gotten about far enough into
the new corn crop TO begin to form some
intelligent conclusions regarding it. From
our correspondence we conclude that the
yield in Iowa, Nebraska, Kansas and Miss
ouri is disappointing, so that, in many sec
tons where they supposed they had heavy
crops, in shucking out they only got about
twenty bushels per acre and forty TO forty
five is about the largest. In Illinois while
the yield is less disappointing perhaps, it is
still far short Of a big crop as to yield. The
quality of the crop seems universally good.
and with good weather the bulk of it will
soon be grading No. 2 in all markets We
find along the Missouri river points there is
a large southern demand at present
that is taking about all the offerings
SO far at three to five cents
above what will pay any primary market, and
this demand is likely TO continue all winter.
AS the southern states generally had short
crops there is already an urgent export de-
mand, and this we shall expect to see in
crease, should prices continue low. Feeders
are using an unusually large amount. We
had no old corn on hand. Stocks are very
light all around, whence we are ready TO con-
clude this crop of corn will not sell as
cheaply as many spectators have been figur-
ing on. We think corn good property at 35c
or under, and shall not be surprised 10 see
more of the crop marketed on a basis OF 4Oc
or over here than under that figure. The fine
quality of the crop makes It salable. OF the
two previous crops we expected a very small
per cent, yet we have consumed them all now.
We may export IL per cent. of this crop, and
will consume at home quite as much as
usual.n
Despite the Chicago Packing company and
despite the few outsiders who tailed after SID
Kent and B. H. Hutchinson, pork is getting
back to $40 again, the point from which this
team of venerable pork packers bulled it.
All that the crazy bull raid which these two
sly millionaires profted has done for them SO
far is TO lose them perhaps $500, 900 apiece,
and by bolstering up the price of live hogs
say &c per pound, to cost the packing fra
ternity three or four times this in increased
cost of killing. Live hogs are now costing
at the yards little over 4c per pound on the
average. 1t is the general opinion that, If IL
had not been for the unhappy bull move
ment of three weeks ago, they would by this
time have been going at 31E@3S[c. The
packers are really not any better of this year
than they were last so far as outsiders can
see, and when last years experience is re-
called to Chicago pork packer he shudders.
Last year, when the season started in, hogs
were about Axe, and instead of
going down, went up to about SIZE
This year they are averaging about 4JSc
only, but pork is now $1,000 against $3.50
twelve months ago, so that there is little
choice between the two situations. February
pork opened 711c lower, and on further sell
ing by the packing establishment which has
been at the head Of the deal, declined an
other &c. AT the decline there was good
buying, and aided by the course of grain the
market strengthened and advanced to zoe
above the opening. Later about half the ad-
vance was lost, but with small reaction at
the close 10 s1O.721S, showed an advance of
121Sc from the opening. January lard
opened unchanged, but showed considerable
strength, advancing 10c from the opening,
and closing only 21Ic under the highest
figure at $6.55. 1t is claimed that
the Packing company and Armour sold large
quantities of February lard at the opening,
but little later number of brokers were
on the floor with outside orders to buy TO
cover short sales, which is the probable cause
OF the advance to s6.65. Ribs ruled stronger,
closing &c higher at s5.471z for January and
$3.50 for February.
AT the stock yards the receipts Of cattle
were light, and the general market steady.
The demand was not at all urgent and
prices underwent little or no change.
Receipts Of hogs were fair and the quality