St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-15
Prices of All Kinds of Speculative
Property Moving Like the Their
mometer, Downward.
The Year Corn Deal Apparently To-
tallr Collapsed, the Price Still
Falling.
Oats About Steady, but Provisions
Decline Under the Influence of
Heavy Hog Receipts.
A. Bear Raid Carries Stock Down
to the Lowest Point Of the
Month.
Chicago.
Special to the Globe.

Special to the Globe
CHICAGO, Dec. 14.-There is a year corn
deal over which there is some discussion as
to whether it is alive or dead, and there is
some strength in the provision pit. Ii there
is anything else in produce speculation out
side of the routine the traders in the differ
ent pits have missed 1t. Like nineteen out
of every twenty manipulationS which are
begun in the corn pit, this one for year
has apparently failed. From watching the
shorts, lest they should get the cash yeal
and cover their contracts, the brokers of the
bull CLIQUE have turned to watching for a
chance to sell out. 1t takes good deal OF
nerve, a great deal of money and great
deal of skill business. for the success Of a
year corn cover. Since Kicker, the ''corn
king" passed away there has been but one
successful manipulation. That was en-
gineered by Lindbloom. That cover would
have been failure, too, had it not been for
Lindbloom's courage and the opportune as
sistance he got from friends when the bears
made dead set against him. P. B. Weare
and Billy McHenry are clever and rich, but
the cover they tried to run a year ago last
October came nearly giving them their coup
de grace There has been a story floating
about that one of the principals Of this last
deal was n. &. Miller, who was a party to
LindblOOm'S
SUCCESSFUL MANIPULATION.
The story has its local interest heightened
by the fact that everybody here thought that
Miller was busted" but it is explained
that he made some very lucky hits on Wall
street during the rise, and is now as good a
man as ever. When speculative doctor
like Sid Kent, who declares that wheat is
bent for G5c, and a venerable practitioniSt
like old Hatch, who prOnounceS that wheat
viii sell at S125, get as wide apart as they
are it isn't easy for anybody to decide just
what will happen. Provisions are working
up Slowly, because while talking bearish,
the packers are loading up. In month
from now when last one of the manufac-
tors has made all the sacrifices he cares to
On the score Of cheap hogs" then prices
are likely to jump up in way to delight
the bull and alarm the short. Wheat broke
again to-day. 1t opened 55@5lc off. and
declined re before IL o'clock. Cables were
dull, and to the bulls disheartening. Latest
market advices from Liverpool were that
wheat was lower and stagnant. The belief
that postings tomorrow would show an in
crease of from 100, 900 to 1000, 900 bushels
i'll the visible supply was also
and that must be added to the board of
trade tradition, that markets must ease off
just before and during the holidays. This
latter influence is causing many traders on
the long side to get out of the market for
the present and The bears encountered very
little opposition. The board seems to have
settled down to the conclusion that the
Minneapolis millerS are long on wheat.
There is nothing on the surface to base such
conclusion On except the talk of MessIs.
PillSbury and his confreres during their
late visit here, and, as the street gamins
say, THAT don't count" The North
western millers are pushing their stocks of
flour into consumption with all possible
rapidity, not only in the East but in the
South as well, and the mlllers in st. Louis
and throughout. The winter wheat seekers
are complaining of the ruinous competition
they are meeting with from that quarter.
The Northwestern stocks are understood to
De worked down pretty low, and the pre-
fiction is made that the Minneapolis mills
will nearly all be going in short time.
The bulls are anticipating great help on
that account. With these mills in opera
ton they expect to see stocks of grain dis
appear at a rate that will startle the market
md start the long looked for boom. What
some hing
TIME ALONE CAN TELL,
but those who are more interested in what
is going on to-day than they are in what is
going to happen later on, observed that a
large quantity of long wheat came out on
decline this afternoon, and that the bears
were also free sellers. Where the long
wheat came from gave the gossipers some
ching to talk about and chew on. The oral
speculation on this fruitful theme was gen.
eral. and left those who INDUCED in it where
they were i'll the beginning. viz, in the dark.
1t was also observed that when May wheat
touched Gle, good buying set in, that the
market perceptibly hardened and that prices
advanced considerable. The rally not car
rying values back to the point that marked
the down movement, however, wheat closed
at 1 o'clock sc above low water mark, and
&c below Saturday. On the late board
the market was easier at the beginning
of trading, and sold down to within &c of
the lowest point of the day, but the close
was about the same as at 1 o'clock, at S45sc
December, S5Tsc January, 85@Sc February,
81 nc May.
Corn showed a fair amount of activity in
year, early, but the aggregate was small.
The undertOne was weak, offerings being
more than the shorts cared to take. Re
ceipts were fair, 1872 cars, but not up to
expectations.
THE SHIPPING DEMAND
was light, and larger arrivals were pre-
dicted for tomorrow. Year opened unset
tied at 395s @395Sc, declined to 394c, re-
acted on buying by shorts to 395sc and
closed at $3.50, decline of &c from Satur-
days last sales. Longer futures were
quiet and trifie easier. January closed at
3S}sc, and May at 401sc.
There were no important changes in oats,
May opened sc lower, but recovered later,
closing same as on Saturday at 3l94c.
Provisions were weaker and lower owing
to an increase in receipts of hogs and the
weakness in wheat. at the decline. how
ever, the market was rather firm. Trading
was quite active but mainly on speculative
account. Prices at the close as compared
with those on Saturday show decline of
10@1279c on mess pork, and axe on lard
and ~ @5c on short ribs. For February
delivery mess pork opened at SO. 10. fell to
S10.05 and closed at that figure, May closed
at S10.4255. Lard for February ranged at
S6.15@6. 172S, and closed at S615. Short
ribs for February sold at S5.021a@5.05 and
closed at $50.
PETER BERKEY, Pres. F. ". ANDERSON Cashier
c. W. GRIGGs, Y. Pres. A. c. ANDERSON, Asst C.
TIE ST. PAUL NATIONAL BANK,
CAPITAL, 100000.
Coruer Fifth and Jackson streets
The Quotations.
CHICAGO, Dec. 14.-Flour dull and un-