St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-05
The SDeeter of the September Corn
Squeeze Stalks Abroad in the
Memory and Holds Quota
tiOns 1aut.
Firm Closing In Wall Street, Vita Con-
centrstiOn Of Strength in Central d
Hudson and Western Union.
The Western Union Wants to Know How
It is To obey tie Bucket-shOp In
Junction When Its Loard OF
Trade Contract Il
Cancelled.
CHICAGO.
Ispeel.l Telerran . be Co.. |

49, AAAAH aAAEuAAhl "a rtHNNAAAAaiNs Au0u-l
excitement OF yesterday was lacking aud
there was = material falling OF IN al lines
FROM yesterdays figures PORK closed 22B(.
of and ribs I1;( r3Oc OF. Tac grain mar
krts were faHly active, but the feeling ln
wheat WAS walker under excessive :. ceipts
aud a rather easier tone IN foreign aud -ast-
ern markets. In consequence ihis cereal
sold down nesriY cent and closed 5(c be-
low yesterday. Corn Was iFmer al q sold up
&C from the opening for the year option, the
main cause being a nervous fear th=, there
would be manipulation. 1T the close this
option was l sc above yesterlly, while My
was &c below. Oats we're easier az sc low
er for December aud ilc lover for May.
Closing quotations on the afternoon were:
January wheat 735Sc. year corn 375Sc, May
oats 2Sc, January pork sll621l, January
lard s6.S5, January ribs S5.S2<.
Among the brokers tue action Of the
injunction dissolved, whereby il is required
10 furnish quotations TO certain bucket
shop, was commented upon In various ways
A certain element among members OF the
board OF trade has always been In favor Of
permitting the Quotations TO be as widely
distributed as possible, denying no indlvid-
ual or corporation the chance tO make use OF
the market quotations, holding that such a
course would bring infinitely more trade 10
the board than IL their circulation were re-
stricted on accounted competition from the
bucket shops. Such members clsim that
the bucket shops actually furnish the board
with customers, as when a man has made a
few hundred dollars be invariably seeks a
broad teld for his operations aud comes nat-
uraily 10 the board 10 find It.
member who upholds this
theory remarked lately, when asked
what Interest the directory had in jeoparliz-
ing its organization: "The ways Of board
Of trade directory are iDscrulzSle.n On the
other hand the directory is upheld by the
majority Of the old and conservative mem
bers, who regard the bucket shop system as
nuisance which must be abated at any cost.
They accuse the other element OF eo-oper-
ating with the bucket shops and denounce
such sentiments as unmerchantlike and be-
meath the dignity OF members Of board Of
trade. II is remarked that the Western
Union is armed with the best of grounds
for Ssking that the injunction against it be
dissolved. 1t cannot obey the injunction
when the board Of trade, by cancelllng the
contract giving It the quotations, deprives ii
OF the power OF doing so.
Wheat opened a shade easier at 743zc for
January, and declined gradually. under
heavy offerings. The chief depressing fea-
fn ha
prospect of their abatement Liverpool was
firmer aud Mark Lane was steady, with an
advance OF pence per quarter for American
spring of coast, but red winter, for prompt
shipment, was pence per quarter lower
Heretofore rcd winter has advanced too fast
ana spring too slow, but now the proportion
is being made more equitable and hea.thful.
When the market had declined about &c,
the sellers Of privileges concluded To check
the downward movement and began buying
against their put, toe result being frac-
tional advance. Lester is reported as being
long on a large line by buying. Tne bears,
however, persistently hammered the market
and finally got the price Of January down to
7S5<c, but under renewed support from priv
ilege sellers, there was an advance on the
morning board to 7Ss[e, followed by de-
cline 10 1899 in the afternoon, decline of
go "a compared to yesterdays icIose .Decem-
Der fell &c 70 a close of 73i4c, and My the
same To SO5.e.
Nilmine, BOcman & CO. say: The trade Is
stil arsely al. hut almost exclusively OF the
scaiping order. with no staying power 10 the
market. When il makes sse advance AZ any
time, long stud comes out and there are q lod
many operators scalpins the market con-taally
from the long side By selling Oh the bulges, aud
so far there has not been bulge enough At any
time 20 scare them oat. Others. again. net frum
the other side by buying on all weak spots, and
this keeps up the constant dicker from day 10
day, each side sailing too close 10 Outside orders
10 give the market ans decided inslinatiou either
way. We shOnld ike T. write In favor Of the
bull side, bot are Al loss to FAD any good solid
argument o. thai side. We shall not feel Ike
bnling the market until We see some failing OF
in receipts, and this may not conc foE siAty GAYS
yet
There was the usual degree Of activity in
the corn pit, but prices were unsettled and
thS trading went by fits and starts. In the
year option the bulls had it pretty much
their own way. The small receipts and the
very small percentage Of them grading No
2, frighteu ed those who had sold this option
e-AA ~ bACat " tucN
prices up lc from the opening at 361<c,
when there was a lul in the demand aud a
decline of &c. At this point the shorts
again began covering, aud sent prices up
] &c, the morning close being at 3Tssc. The
demand continued in the afternoon, with
the result Of an advance of le more, but
this was not entirely maintained and the
final close was at 37Xc against 36{e yesier-
day. Deferred deliveries did not participate
in the boom, January closing z but &c higher
at 35c aud May Sc lower at 37xc.
1.-The opinion seems TO prevail said George
Shepherd. .'that there are no concentrated hold
iugs Of seller the year, but Fhis may prove 10 DO
advance OF 20 day would seem 10 indicate some
thing in the nature OF deal, but do not feel
positive enough about IL 20 give that IS my
/ opinion.
In oats the business was light, the only
transaction Of any note being the sale of
100000 Of May BY Nat. Jones at 271c,
which was the lowest point reached by that
option. II opened at 2sAc aud closed at
2Se. Decem Der opened at 2ixc aud closed
at 24zc, or nc lower than on yesterday.
The provision pit seemed to attract the
most interest and the crowd filed q as on
yesterday, The feeling was weaker. how
ever, aud the January option, after opening
\ Sc lower at Sl1. so, got down to $1l.6O and