St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-10-02
The Remaining Shorts Expected
to Square up Without a
Protest.
The Wheat Market Very Active and
the November Option Nearly a
Cent Higher.
The Trade in Provisions Generally
Speculative and Prices Somewhat
Lower.
The Room Traders the Chief Operators
in Wall Street-COnsiderable Business
in the Changers.
CHICAGO.
Especial Telegram to the Globe. |

CHICAGO, ILL.,, Oct. lon 'change to-day
the leading articles were generally stronger
and higher, the greatest activity and strong
est feeling being toward the close. Transac-
tons in wheat were larger than for a long
time past, while the trade that almost de-
serted corn during the time of the Septembe
corner in a measure returned and tow ards
the close there was almost boom in the
options for November and year. Pork was
quiet, lard firm and higher and ribs steady.
The closing quotations for the November
options were: Wheat S15Sc, an advance of
&c; corn 1890, adecline of re; oats 261Ic,
pork (October) $3.50, decline of soc; lard
$3.50, an advance Of 715c, and ribs $3.50,
unchanged.
At the opening the wheat market exhibited
feeling of indecision on the part of OPP
orators, but later it changed to frmness.
The fluctuations were at first frequent and
rapid in both directions, and confined within
narrow range. In stock exchange par
lance, it might have been called a room
traders market, in which scalpers wrestle
with each other for quick turns and &c
profits. November wheat opened at SO15c,
ran down to 795sc, then back and forth,
finally closing at Sic on the regular
board, and at $3.50 in the afternoon.
October wheat being now cash wheat prac-
tically ceases to be a speculative deal and
the changes in it were few as compared with
future options. 1t opened at 1880 and fol-
lowed the course of November, though at a
slower pace, finally closing at 795Sc in the
morning and 791Sc on the afternoon board.
No. spring advanced 94@1c and closed at
1880.
Counselman, Adams and Crittenden 6;
Harvey sold great deal late in the session,
and Schwartz & Dupee were mentioned as
the principal buyers. Liverpool reported
wheat as ''firmly held" and Mark Lane was
also firm, but New York was early little
lower and st. Louis &c lower in November
Our receipts continue steady and average
about the same number of cars from
day to day. These are not very
large, it is true, but they
are larger than the shipments, and
so the visible supply is steadily
increasing with enormous quantities ready
to start from first hands whenever condition
and prices are favorable. This keeps the
market in changing, see-saw state, where
no advantages are gained by either side. The
foreign adyices would seem to warrant
strength, but the export movement is COM
paratively light.
Corn again attracted good deal of atten-
ton and good deal of anxiety was mani
tested as to what would be done with the OPP
ton for this month. The same brokers who
ran the September deal were on the flour
again taking in the cash corn, and the gen
eral opinion seems to be that the clique
will attempt to corner October.
Receivers say that no new corn of contrast
grade can arrive before November. The Oc-
tober option it is claimed on inside authority
is short 10000, 900 bushels. The shorts,
however, do not seem to learn by being
burned once, and this morning, some oper-
ators who had had the life nearly squeezed
out of them in September option were
selling October short. October opened
&c higher, at 574c, advanced under good
demand to cover shorts and buying for a
scalp and sold at 5s15c, declining later to a
close of 572lc. November opened at 1870,
advanced to 4S13c, at which it closed on the
morning board, while in the afternoon il
was stronger and higher and sold up to q
close of 1870.
1t is learned that there is large line Of
shorts who defaulted on September corn.
About 5000, 900 bushels has been settled fol
at SIC since yesterday. One house alone
was caught to the tune of $50 900 and an.
other to the extent Of 250,0o0 Both firms
settled, their net loss being about 25c pei
bushel. Only about $50, 900 bushel now re-
main unsettled, and 1t is thought that the
defaulters will come in rather than endure
the odium of a trial before the board of di
rectors.
moderate business was reported in pro-
visions, but trading was largely on specula-
tive account, the shipping demand being
light, excepting for lard. Foreign advices
showed a weaker feeling in pork and a de-
cline of Is. The delivery on October con-
tracts was moderately large for lard, but
light for other products. Trading in p)rS
was light and little stronger feeling pre-
vailed in distant futures, while near deliv-
cries ruled easier. October closed at s16 SO
against ST. yesterday, and year was 1915
higher at S1Ls25E. Lard was rather active,
and steadier feeling prevailed. Prices
ruled stronger and advanced Sake, the
advance being maintained to the close, which
was s7.27J{ for October and $3.50 for No
vember. Short ribs were quiet and closed
2JIc higher at $3.50 for October and un-
changed at $3.50 for November.
MILWAUKEE.
Especial Telegram to the Globe