St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-24
GOw the English Exchanges are Worked
in the Interest of Rich American
Spectators.
4 Sharp Hebrew, Former Chicago OPP
orator, Playing Clever Tricks
in London.
A Dull and Lifeless Day, With
Scarcely Anything Doing
on 'Change.
The Markets Close Lower--Stocks at
the Bottom After a Light Days
Business.
Chicago Produce.


was. when here, acknowledged to be very
rich man. a tremendous trader and a
scbemer. He has not been here IN Chicago
for a good many months and some people
don't know where he is. In the LONDON
stock market there now regularly appears
each dav q short Hebraic man Win
stomach like Falstaff'S, with legs like Enlly
Soldene's and with arms like WreStlers. lie
is q desnerate trader When he starts IN 10
hear the market consols drop with tnud,
and when he feels in ''bullish" MOOD all
fall, of war ceases. and the BrltlsherS are
made TO believe that the Russian bear mas
gotten ayav with its dish of crows. IhlS
is Abraham Eichold.
There has been all sorts of guessing over
the cratic and ineXplicable course OF BRUSH
consols. They move wheat up When tiiey
90 down and move wheat down when tney
go up. The
MOST REMARKABLE FEATURE
about them is that they have gone up ana
down with a sort Of regular irregularIty.
For a fortnight they have opened very low
down. then they have strengthened, anu
finally closed steady and composed fer-
hans more remarkable than anything else
however. has been this other fact thai GER
tain Chicago and New York traders nave
n.
what c0nsols were doing. 1t is said, on the
1.arv hest authority. too. that "Old" EichOld
Is i'm Europe as the paid agent Of a very rlch
Chicago and Gotham clique, and that 1t IS
part Of his duty to keep his principals
posted. But the most important part OF his
mission is TO manipulate the market for con-
soJs-tbe English securities which just now
are setting the price for every other kind OF
property under the sun.
Norman b. Ream. Nat Jones, SchwarZ az
Dupee. at Chicago WOerishofIer and Henry
Clews and other large operators at Ne"
York. are known to be among EicholdS
PRINCIPALS. cold Abe" is, of course, III the
clique himself. He naturally, with such
men behind him, has all the money that ne
needs lie
MAKES THE MARKETS
in London. and his principals milk the
markets at Chicago and New YORK. E!ch-
old's scheme is to make hctltious price,
either fictitiously high or fictitiouSly low.
He does it at a sacrifice, of course, but the
sacrifice is small compared with the prolltS
taken in on Chicago and New YORK scalp
ing operations.
E'The scheme is feasible enough, and that
it is being carried on there is no doubt,
said Chicago operator to-day. Inc
process is like this: EichOld sells enough
cOnsolS TO make low quotation. VI course
the market stays there but an instant ana
Abe suffers a loss, but that quotation Is
sure to go over by cable. Abe's principals
know that it is coming and operate on 1t.
An instance: The other day George
Fldredge 81 Co. operated on the drop in
consos to 96 an hour before anybody not
in the clique knew that it had occurred.
The market shows itself how the scheme IS
worked. Consols are Invariably opened
excited. This sends wheat up, and when
the advance has been secured
THE CLIQUE SELLS.
Then consols are steady. Wheat goes
down and the clique buys Outsiders and
countrymen and innocents of all sorts are
whipsawed If there is anybody else who
has anymoney left who proposes to dabble
in produce, they want to watch out for this
CLIQUE and Old Eichold's clever racket"
This was the dullest day that has been
seen on 'change for months. There was no
disposition on the part of anybody to do
trading. and the consequence was That the
market dragged along in the most listleSs
manner. None of the big traders who gen.
orally make things lively in the wheat pit
would touch the stuff. The truth seems to
be that they are afraid to. If there is war
the price will certainly advance, and If not
down it will go. and in the present state of
uncertainty they prefer to await develop
mentS rather than run the risk OF getting
caught The June option opened at 9119c,
exactly where it closed last night, dropped
to g096c and closed weak at 90Ac.
Once more everybody was afraid, and
dispatches will have to be remarkably well
authenticated before they will have any in
fuence, in view that
ROGUS WAR REPORTS
have been forwarded and used is no longer
II matter of doubt, though the tracks have
been covered so sllillfully that it is exceed
ingly doubtful whether an investigation
would locate the culpable parties. But the
racket has been worked out and worn out,
and it will require actual appearance of
blood on the floor to convince skepticS that
war has begun.
The situation throughout the day was
nervous and eXcitabe to an ultimate de-
gree, the heavy operators being notable on
account of their refusal to dip in. a gen
eral idea that n hole would be kicked out of
the whole bottom of the market, and that
it was very liable to become waterlogged
was enough, and, as very natural result
even scalpers were few and scattering. The
close was about lie below that of yesterday,
at S7Sc April, SSSc May, 90Ac June,
Gage July.
The corn pit presented the same demon
alization. There seemed to be general
DESIRE TO REALIZE
during the morning. The May option
which opened mt 4Sc, which was &c over
the close last night, dropped to 47&c.
After II O'clock Lester stepped into the
ring and commenced buying. This was the
signal for Others to do the same, and the
price ran mp 10 A. sc where it closed. Ellis
(who bought yesterday and Love sold to-
day. July sold ut I@&c premium over
June. 1t is expected that a good deal of
corn will come in for May delivery next
week Latest prices Were 47c for April.
axe for May, 4SJsc for June, 4Sic for
July.
Trading in oats was very light, and. in
sympathy with other markets. the close
was 80 &c lower than yesterday. quotable
sac for April. S4s(c for May, S5Ac for
June. 35Ssc for July, S0slc for August.
Provisions We're very quiet and there was
scarcely any trading outside of the local
speculative circle. The market opened
LOW AND LIFELEss,
May Sellinga Sill. so and closing at S11 .67i<.
June sold ut S11.S1iS, declined to Sl1.T5,
advanced 20 S11.S0 and closed S11.11J.
July closed Toe higher than June, but
showed the same decline from yesterday.
In lard there was hardly ally trading and
prices We're sc lower than yesterday at
$500 April and May. S6.9TL June,
sos July. \ slight decline in short ribs.
after sn excessively quiet day. brought the
closing figures to $500 May. S5.97iS June.
S6.05 July.
AT THE STOCK YARDS
receipts of cattle Were heavy. trade slow.
and prices 1O915e lower on the ordinary
run Of tat cattle. such rs are utilized in