St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-09-07
NO. 25l.

holdings for fear the manipulators who have
the market in their own hands would ad-
vance the price to 60c. The Adams crowd
tried to cover, and kept a number of brokers
buying all the morning, but they did not get
over 1000, 000 1t is estimated the market
is short anywhere from 5,000,O 900 to 10, ,000,-
600 bushels, and what seems to aggravate
the case is the fact that New York is also
overdosed, and squeeze is being engineered
at that point. Hutchinson is credited with
being long 1,500, 900 bushels, but the real
head and front of the corner is now said to
be Sid. Kent, who is reported to have both
the Chicago and the New York markets un-
der his thumb. He is one of the heaviest
shippers in Chicago and New York, and is
many times a millionaire. There is no dan
ger OF his running short of funds, or of
corner engineered by him colapsing So long
as the shorts thought that no one but Hutch
inson was behind corn they were not fright
ened, for they knew ''Hutch" never squeezed
the boys for more than or 4c. Kent, how
ever, is horse of another color, and the
shorts beginning to see which way the wind
blows, frankly state they see nothing to pre-
vent prices being run up to zoe. The short
purchasers included about everybody on the
floor, but among the most prominent may be
mentioned Wheeler s. Gregory, Nat Jones,
Comstock and Canther, Pickering, Parker
and Sherwin. September opened at 5514c,
ranged at 543s@5Sc, and closed at 56sSc.
October opened at 52fsc, advanced to 541Sc,
and closed at sac, while November opened at
1870, sold at 471Se, and closed at 1870.
Oats and corn continue dull and de-
pressed, with few traders giving them any
attention. October opened and closed at
257Sc.
There was no new feature in provisions
except the report that Cudahy & Steevers
were taking in the ribs offered at 1895 for
October. The common compl amt among
commission men is the stagnation of the
business throughout the country. They say
that there is no cash trade and sales when
made are all on one and two months time,
! and payment secured by note of hand. Mess
pork was as quiet as usual, with no changes
worthy of note. Prices in lard ruled shade
lower and at the close October was quoted
at $685. and November at S7.321S. Ribs
wiz OquoAJ Nu4l anu pIlCGS IulCO lOWGT,
closing at SO for September and 1895 for
| October.
Hamil 81 Brine in their review of the
market say: Grain markets during the past
week have generally lacked animation, corn
being the only option for which there has
been an unusually active demand, both
shipping and speculative. Provisions have
ruled dull most of the time, with
tendency to lower range of prices on the
whole list Wheat has suffered decline of
about &c per bushel on the week. The vol
ume of trade has been light and speculative
interest having been largely diverted to
corn, operations have been on a very limited
scale and confined almost altogether to To-
cal traders. Foreign advices continue of
depressing character, and all although the ex-
port trade of the seaboard has been fully up
to the recent weekly average speculative op-
orators there have found nothing sufficiently
attractive in the situation to induce activity.
There seems to be no indication here as yet
of what may be called revival of interest in
this grain, and while any serious deprecia-
ton in values from the current range seems
almost out of the question, it looks as if we
should have to wait for some contin gency,
which cannot now be foreseen, to infuse
confidence.
Corn has been very strong and active dur
ing the week The extremely low Stocks in
this market, to which we have frequently of
late called attention, have been further de-
pleted by recent shipments of the contract
grade, and short sellers have been made
very nervous. For the past two or three
days there has been much excitement, and
| NJ lGrU h11yiu IN cf
ments preYiou sly made as well as on ac-
count of parties who have been for some
time, and who are yet large holders, an ad-
vance of about &c per bushel on the near
future has been established. This market
promises to be one of great activity during
the next sixty days. and we look for unusu-
ally sudden and wide fluctuations, but be-
lieve that on all weak spots pur-
chases will be found remunerative.
The growing crops in most sections
promise well and should no damage from
frost occur within the next few weeks the
country will be undoubtedly favored with
the largest yield known. Empty cribs ev-
erywhere must, however, be borne in mind
as well as the immediate feeding demand
consequent upon the present actual scarcity
of old corn, as these conditions must exer-
else marked influence upon the extent of
the early movement ofthe coming crop.
Oats have been without special feature
during the week. The demand has been
fair, the weekly shipments showing about
equal to the receipts. Activity and advanced
prices in corn have impaired some strength
to this grain, but we note a lower range for
the week with the close quiet at 255sc for
October.
Provisions have been generally quiet since
our last. In pork the trading has been ex-
tremely light, but the offerings of the year
and January options have been
more liberal and prices have declined,
closing to-day at s12 for the former
and S12.20 for the latter. Lard has ruled
dull with tendency downward, but fair
shipping demand is noted. Ribs are with
out material change.
MILWAUKEE,.