St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-09-16
A Suspicion Still Exists that Corn is
Being Manipulated, and is
Touched with Delicacy.
The Provision Pit in Quiet State-POrk
Steady and Lard and Ribs a Trifle
Higher.
The Bottom Out of Wall Street Again
Manitoba and the Changers
Heavy Sufferers.
CHICAGO.
Especial Telegram to the Globe. I


usual nervousness among operators, a ma
jority of whom were scalplng and limiting
profits and losses. Dealing in wheat was
fair, and slight advance was scored, the
main strength appearing on the afternoon
board. Corn was quite active, closing at
about yesterdays figures, and provisions
were dull, except lard, which met with a fair
shipping and speculative demand and closed
fraction higher. Closing figures of Octo-
Der options were: Wheat 751Sc, gain of
5Sc; corn 5114c, unchanged oats 253Sc,
an advance of sc; pork S16.75, unchanged;
lard S7.15, gain of sc, and ribs 1885, a
gain of sc.
Wheat showed a fair trade in futures at
irregular prices. The leading American
markets opened weak, and Liverpool and
London cables were adverse to sellers, being
quoted duh and depressed, without demand
from other markets in the United Kingdom
or continental Europe. The receipts here
and at other large western markets were
liberal, the arrivals at st. Louis being
especially heavy, and opening sales were
5s@%c under last quotations on 'cbange
Saturday. But the decline brought num-
Der of heavy firms, who have been on the
short side, to the front as buyers, among
them being the Adams, Eldridge and
Murray. This had strengthening
effect on the market, and the offerings
being moderate, prices soon began steadily
moving upward. The reported appreciation
was telegraphed to other markets and brought
few buying orders on the long side. In
structions were also received to cover shorts,
and the spirited bidding that followed sent
prices up 1@1Hc, but the advance caused
free realizing by scalpers, who were anxious
to secure profits on holdings bought early,
and the shorts having covered, the demand
| slackened. This weak feeling was helped by
Eldridge and Lester, who put out large lines
of November Under these combined infu-
ences values receded &c, and closed weak
on the morning board. In the afternoon
there was rally of &c, and stronger
feeling at the close. There is, however, very
little in the outlook for the future to encour-
age buying except on sharp breaks and then
only for scalp. The receipts aggregated
81 cars and the Withdrawals from store
1S4, 900 bushels. The first sales of October
were at axe, from which point the price
advanced to 759lc and closed on the regu-
lar session at 75c, and in the afternoon at
7513c. November opened at 1889 and sold
at 7735c, and closed on the regular board at
| 76$4c, and on the afternoon board at IKE
No. spring closed at 731lc cash. There
was fair shipping demand for No. 2 red
and prices advanced &c.
| Said on oparotor dow llrbo,o
was, within the memory of anybody there
now such depressed feeling over the con-
dition, not of the wheat crop, but of the
wheat pit. 1t is to be presumed that there
are some few bulls left, but they dare not
open their mouths. 1t would hurt their
credit If they did. This is one of the anon
allies, for uDquestionably the chorus of
bear prophecies, with not even single
voice raised on the 'bulr side, helps along
the decline. In speculative circles talk goes
for good deal. The bulls know they must
talk If they would advance prices, but are
actually afraid to talk for fear of hurting
their credit. Was there ever before such a
condition Of thingsp'
Corn was erratic, and the course of prices
in the October option, which
was the favorite future, clearly indicated
that those who have been manipulating
the deal for the first fortnight have not lei
go their grip and are ready to give the boys
another squeeze. Receipts were 632 cars,
and Withdrawals 233, 900 bushels, while en-.
gagements were made for 167, 900 bushels
The opening was easy at &c decline, and
the trading throughout the morning session
was active, although there was an undercur-
rent Of weakness. There was an early droI
of nc, with heavy selling of May by
Schwartz 81 Dupee and Spears and @.
November by Kammerer, while Martin &
Bennett, Champlaln, Graham aud others
took aboard at all the options. A host o.
buyers came on later, among them beinl
Wheeler 81 Gregory, Foss 81 Strong, Nc
Farland, Canther, Hamill & Brine, Ma
Jones, Sherwin, Hobbs, Baker, Rumsey
Hepburn, Pickering, and others
October opened at sic, and ate
the first weakness, advanced to SAC
and after sharp fluctuations closed
on the morning board at 51L
and nc lower in the after
noon. September opened at 542lc, quietI
advanced to 5514c, and closed at SAKE
Year closed at Csc and May declined nc ant
closed at 3sHc.
6ats ruled slow and inactive with the usus
output Of May by NatJones, who could not
however, get more than 2s55c. Trading wa
greatly restricted on the morning board, bu
, little better in the afternoon, and the clos
was at 255zc for October, and 23$[c 70
May.
The provision market opened the wee
with a good showing Of strength, prices be
ing rather in favor of holders and the clos
in several instances being q shade highe
than on Saturday. General business durin
the day was only moderately active. Tradin
in pork was limited, with prices nominal
firm at Saturdays figure, with the exceptio
of year which went up SC. Lard elaine
considerable attention, though the days but
mess in it was only moderate, still in wa
! the center Of attraction aud the mark,
, showed more strength, closing 2L05
higher than on Saturday, OF at s7.15 for OF
tober and s7.O5 for November. Ribs a
tracted good deal Of attention and lara
= sales Of cash were reported at $3.50. FC
Autulc uSAfSIs5 HN"S'Si' s-S AioAhck vas
little slow, though the feeling was one
: strength and the closing sc higher at s9.5
! for September and October.
In cattle there were 1s4 cars Of Texas an
territorial rangers. Among the fresh II
, ceipts Of cattle about half the tot;
| number on sale-about 30 cars
= were Texas. There was an sctiy
demand and a strong market from first
last, ali sorts selling at q slight advance
. stockers and feeders were in moderate SUI
, ply. demand active and prices firm stoc