St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-26
The Big speculatOr Credited |, With Jon
trolling the Wheat as Well as the
Provision Markets.
Prices of Cereals and Other Speculative
Produce Cannot Keep Over
Thanksgiving.
The Entire List Shows a Falling On
More or Less Serious From
Tuesday.
Raiders at Gotham Put the STOCK
Bulls to Flight at the
Last Moment.
Chicago.
Special to the Globe.

Special to the GlODe
CHICAGO, Nov. 25.-All the speoulatlVe
pits are taking on holiday phase. PriVl-
leges last night sold at cent apart anu
only 1I0o% away from the market. so that
sneculators themselves anticipated dull
market fnr TODAY. December wheat began
at s755c and did not get more than sc away
from that figure for an hour. Everything
else acted the same way. Last night MI.
Armour bought 500, 600 bushels OF wheat.
and his name was given up on 1t. ANY
BODY said he this morning, who thinks
that capital is not on the side OF property OF
any kind will be as badly left as those
were last year who believed that capital
was on the bull side" The market opened
a shade above yesterdays closing. advanced
fractionally, sold down &c, advanced
&c. or such matter, and then dropped OH
to a point below the opening. There was
nothing in the news of an exciting cnarac.
ter, unless confirmation OF the reports OIL
the shutting down of most OF the Mime
apolis mills comes under that head: lhls
intelligence had depressing influence.
Receipts at winter wheat points commune
very light, and the cash crowd reports IN
creasing inquiry from the winter Wheat Sec
tons Armour & Co. were large anu
OPEN SELLERS OF w
however, this morning, and MI FaVorlte
of Armour & Co., was the largest seller
of pork. too. In the wheat pit Rlcnard
Wagner was the broker who did the Ar,
monr selling. De gave up the magical
name on several very large lots. AS the
dav wore away the holiday character OF the
da1. so far as the movement of figures was
concerned. passed away. There was quite
a break along about noon and December went
under SIC. At the close at l o'clock the
buyers of ''puts" last night had just nc in
their purchases. for December WIS to be
had early at s6Tc. But while the drop
was almost cent from last night the
volume of trading was not large. Inc
crowd was puzzled by the ''molkeylng"
which was plainly going on by the big men.
They did not know what was meant by
Armour's open buying last night and open
selling this morning. Just before the close
the market rallied somewhat and advanced
fractionaIly, but the tone was still one OF
weakness. December closed at S6Sc, jan
uary 873Sc and May 1890. The market
was rather tame on the afternoon board and
the feeling was easier, prices declining g @
&c, the decline since yesterday being
A@2Sc.
OPINIONS OF TRADERS
are varied but with bearish tendency de-
cidedly in the majority. Chandler Brown
said: 1--WE regard the situation as very
heavy. The bull combination which has
sustained the market for the past few
weeks have apparently sold out. Receipts
at primary markets so far this week indi-
cate even larger increase in the visible
than last week and this will prove the
principal factor we think in the immediate
future" George Everingham said: "a
temporary increse Of receipts may be had'
and as the output just at present is not
great there is possibility of little further
crowding by the bears. but the change is
pretty sure to come and weak closing OF
the market after five-cent dec line likely
to be delusion and snare. and we think
the general situation sufficiently healthful
for the crowd to turn on any reasonable
preteXt and become buyers.
Corn was firm at the opening, but trading
for the first half hour was light Then the
market began to move upward under fairly
good buying orders, and December and
year climbed up from 4136c at the opening
to 41$lc. Here there was
CESSATION II THE BUYING,
owing to belief in the crowd that Lester
was going to do something, what 1t was
they did not know. but the crowd waited to
see. and meanwhile the market dropped
back to 415Sc, and when wheat took the
downward road corn responded by sending
the December option down to 41c or 3sc
below the opening. The late close was
little fir1ner, closing at age for Novem-
5er 41c for December and year, 374c for
January, 1880 for May.
In the oat crowd the boys were encouraged
by the light receipts, and bid December up
from 2S19 to 2S}s, but it too suffered the
decline along with other grains, and dropped
back to the opening figure, closing 2S%
January, AK May
Provisions showed some indications of
strength at the opening, but only for a
brief period. The receipt of $4,000 hogs
1t the stock yards. which did not look large
1t the start, in the face of $4,000 expected,
began to grow larger the longer the crowd
looked at the figures, and pork weakened
very shortly. Several of the largest pack
Ing houses which have been holding them
selves in the background of late, came to
The front as free sellers of all products.
They do not hesitate to say that they think
HOGS ARE TOO HIGH
with 40, 900, 900 pounds of meats going
INTO warehouses and is, 600, 900 or 20, 000,-
BOO pounds going out per week. They are
aot encouraged to stimulate the receipts at
The yards. The January option opened at
s10.15. sold down to $40, went back mo-
nentarily to $1O.05, and then, when wheat
took tumble it grayitated downward to
S9.971S, or net loss over Yesterdays close
of 25sc, and over the opening of 1719c.
January lard opened point lower than the
close of yesterday, and sold down to
s6.2215, which was 715c lower. The net
loss in January ribs for the day was 219c.
Trading was light in lard and ribs, but was
fairly active in pork. This afternoon trad
Ing was more active, and the decline in all
products was quite sharp. The net loss for
he day amounted to 2O@25c on pork, 100
l214c on lard and 5@71ac on ribs.
PETER BERKEY, Pres. F. W. ANDERSON. Cashier