St. Paul daily globe., 1884-09-26
Bovine Boosting Produces a Con-
siderable Fever Among
the Shorts.
The Big Deal Still Conundrum
Which the Wisest Spec ulatOrs
Cannot Answer.
Bull Operators in Wheat Fail to Advance
Its Price-Provisions Un-
changed.
Central Shares Lead a General Downward
Movement in Wall
Street.
CHICAGO.
Especial Telegram to the Globe I

CHICAGO. Sept. 25.-There was a good
deal of activity in the whole list on 'change
to-day and the feeling generally was inclined
to strength. Wheat, however, was somewhat
easier after the first couple of hours, showing
decline at the close of the morning board,
while in the afternoon it was quite weak and
registered further decline. Corn, on the
contrary, was at its lowest at its opening.
and from that point rose continually, with
some fluctuations to the close, which was at
SIC above the opening for the September
option and 4c above the close Yesterday.
Oats were without important change and
provisions ruled higher on the morning ses-
sion, especially for lard and ribs, but heavy
in the afternoon, with prices weaker than in
the morning and about the same as at the
close yesterday. The closing quotations for
October options were, wheat 765c, decline
of &c; corn $3.50, gain Of 14c; oats 2515c,
decline of &c; pork unchanged at $16;
lard unchanged at $3.50, and ribs unchanged
at 5000.
Wheat opened quiet and strong and ad-
vanced about 1c early. There was better
tone to foreign cables, and New York was
higher. Liverpool said there was more in
quiry for wheat, but depressed and Id per
quarter lower on corn, while Mark Lane said
there was firmness for both wheat and corn,
and quoted an advance of Cd per quarter on
American red winter. Paris markets were
also higher, but the chief cause of the early
strength was the large decrease of the
amount of wheat and -four on passage to the
United Kingdom and the contlnent-2, $780,
600 bushels. Receipts at the chief western
points were lighter and the falling off of
farmers sales to shippers, noted few days
ago, continues. These influences and the
advance they occasioned caused more
hopeful feeling on the part of the bulls
and they seemed confident that
healthy upward reaction had set in, but
they were doomed to Disappointment for the
day, least. There was lack of sufficient
outside support, and when the demands of
the shorts were satisfied the bulls could not
hold up the market, and there was falling
OFF of about &c, which, however, was recov-
cred again later on the report of heavy ex-
port orders at San Francisco for China, but
later reports of an easing off in foreign mar
morning board was at about &c below the
opening and yesterdays close on the after
noon board. The feeling of weakness in
creased and a further decline of L(03Sc was
submitted to. October opened at 771$@
775sc, sold at 773lc, down to 771Sc, then
rallied and sold up to 7Sc, at which price
the demand was very limited and prices de-
elined regularly to a close of 774c, while
further drop to 765sc was registered
in the afternoon. November opened at
791sc, advanced &c, then down to zoe,
from whence it rallied to SOC, but weakened
under large offerings and closed at o'clock
at 791 Sc and in the afternoon at 7S9lc. No.
2 spring was firm early and advanced, but
weakened later and closed at 764@761Sc.
Cash No. spring closed at &c. No. red
winter declined &c and closed at 7Sc, while
No. 8 was in fair shipping demand and
closed &c higher at Csc. Rejected was 51@
52c. Ream and Jones are said to have sold
freely, and number Of scalpers were active
purchasers in the belief that tomorrow
would see further decline.
G. S. Everingham says: "There seems to be
strong undertone, prices reacting easily and rap
ldly from any temporary depression. The un-
certain and manipulated condition of the corn
market is having the effect OF driving trade ont
of that cereal, and increasing the activity in
wheat. This tends to harden values, as the ma
jority Of traders seem to consider prices too low
to make the ''short'' side safe one for any
thing more than quick turn
Milmine & Bodman say: ''We think that this
bulge is due almost entirely to local effort, and
we hardly think will be carried beyond a scalp of
a cent or so, but at the same time the outside
operators are waiting TO see good advance and
then we think this local bull movement may get
some help from outside spectators, and it would
not be difficult TO enlist buyers enough to carry
the advance right along for few cents good
deal, however, will depend or what effect an ad-
vance on this side may have abroad II they
should show signs of following ours it might
lead to a general advance all along the line and
much higher prices, but so far as we can see we
think the advance is due almost entirely to local
effort and therefore uncertain
Corn was weak early, the nervous feeling
among operators being even more notice
able than on yesterday, but after lingering
along for while at roc, 1c lower than yes
terday's close, with but few offerings, the
bull clique who are engineering the deal be-
gan their manipulations again, and there
was sharp advance of &c on September, all
of which but 1Ec was sustained to the close.
The corner brokers, who have now become
pretty well identified, were omnipresent in
the pit, and although their chief attention
was devoted to booming the September op-
ton, they still found time to devote to the
October and November options, which
strengthens the impression that the princi-
pals will not be satisfied with cornering this
month only. It is said that the large re-
ceipts of corn and the arrivals expected from
Buffalo to help out the shorts are giving the
manipulators uneasiness, and that they have
fortified themselves and strengthened their
position until they are satisfied that it is now
impregnable. The receipts were 6s4 cars,
of which 364 were contract
goods, and the Withdrawals from
store were but 52S bushels of contract and
156, 665 bushels of rejected. October opened
weak, selling of &c, but under some sharp
buying advanced &c, with sales at 5s1<c.
Later this was lost and the last trading was
at about the last sales Of yesterday, with the
close Ac above. For November, year and
May there was liberal trading, these options
being regarded as pretty safe from manipu-
lation. There was quite free selling by
Kammerer, Stuart, Brown, Mead & Beach,
Cantber, Bangs. Jones and MIlmine &
Brodman, the latter putting out big line of
October, and being instrumental in bringing
about a break Of 55@1lc. At the decline
there was buying By Winslow, McHenry,
Crittenden & Harvey, Baker, Mathews &
Dwight and Gillette, which brought about
the advance to top figures, previous to the de
cline Of the day.
Schwartz & Dupee claim to have received
a car Of new corn from Kansas to-day that