St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-13
The Advance in East Bo und Rates Re-
ported as Knocking the Strength
Out of Wheat.
Phil Armour and Alex Geddes Have Con-
trary Notions as to the Future OF
the Market.
Considerable Activity in Corn
Though Prices are Lower--Pro-
visions Dull.
The Granger Stocks, Particularly ST.
Paul, Enjoy a Boom in
Wall Street.
Chicago.
Special to the Globe.

CHICAGO. Nov. 12.-The principal thing
wheat did to-day was to cast gloom over
the community of bulls in this lmmedlate
neighborhood, by opening lower and grow
ing weaker and less expensive as the Gay
advanced. Business opened with all the
crowd pretty we'll loaded up as report goes
and anxious to dump it. Mr.. Armour said
that wheat and the st. Paul railroad stock
would sell together at S1.25. Mr.. Armour
said some months ago, when st. Paul
stock was in the COS and wheat was in the
COS, that the stock and the grain would
change places. Mr.. Alexander Geddes,
who has very large following
among the English contingent here
and among the grain spectators ABROAD,
says wheat will sell at roc and that all
Europe has arranged to get what wheat it
needs outside of the United States. NOW,
Mr.. Armour is a much more distinguished
authority than Mr.. GeddeS, but the latter IS
sound man with plenty of money made IN
speculation, so that he is respectable au-
thority too. Between these two widely eX-
IRENE views all those who have anything to
do with the grain market, commission men,
shippers, receivers farmers and spectators,
are disturbed. Fraley, it is said, bought
enough puts" last night to take care OF his
wheat and when the put price, S71ac for
December, was reached this morning, sold
good deal more. Wheat was
DULL AND LOWER TO-DAY.
Action was limited and business light.
There was no change in the market cables
and no prospects of a change. so far as
could be perceived from the telegraphic adj
vices Some of the operators who had
been carrying wheat long time got tired
this morning and unloaded, breaking prices
sc. Trading was almost altogether local.
A small decline in consols. on account OF
the war in Burmah. was used as lever to
put the market part way back toward the
starting point, but there was no life in the
deal at any price. The viyaclous ST.
Louis speculator who has been
bulling wheat with his purse and his chin
for the past week was in the market. buy
ing quietly and with moderation. The
privilege traders also took a hand when
quotations got down to the put prices
and sustained the market. No very great
effort seemed to be required to hold 1t fairly
steady. The announcement OF an advance
in east bound freights was an element
of weakness, but to offset this was the
growing belief that the next weeks visible
supply statement will show decrease.
The market certainly showed more back
bone and stiffening toward the close OF the
morning session than at any time during
the day. The 1 o'clock close was 1s@19c
below yesterdays closing. The late close
was only steady. at S615c for November,
S919c for December, S6c for January and
9454c for May. Daily business has been
RUBBING THE MINNEAPOLIS MILLERs
pretty freely of late To-day it says edi
tOraly: For wonder we have heard
nothing lately about the marking up of
wheat or the marking down of wheat by
the Minneapolis millers. Whenever a gen.
uine demand springs up for flour, and the
millers actually want wheat. they put the
prices up where it will bring them in
the grain, at the same time
buying wheat in Chicago. know
ing that prices will advance on the
merits of the situation. That is legitim ate
and proper When the millers are making
more flour than they can sell, or than they
have any prospects of selling Immediately,
the market looks weak to them They in
vest by gaslight and put the price OF
wheat up OF 3 cents at some point where
there is no wheat advertise the market up
and sell wheat III Chicago on the market
thus made. They might as well announce
that they will pay ST bushel for wheat on
top of Pixies Peak for to-morr0ws delivery,
as to mark up prices in the localities named
in some of their manifestoes. They would
get just as much wheat. The trade has
made study of the tricks of the millerS.
however and now distinguish between
bogus and genuine advance or decline
IN THE MINNEAPOLIS MARKET,
and the cunning fellow the falls eXper-
fence great difficulty in .arking' this mar
ket nowadays. Whenever they try to
make fictitious market to sell on the
crowd puts the price down on them, and
whenever they undertake to fix the market
to buy on they find themselves obliged to
climb for what they want. They found the
game profitable for a while, but the last
few deals have not PANIED as they hoped,
and they have temporarily retired.
Though somewhat dstigured it is
safe to assume that they are still in the
ring and that they will bob up again when
they think they can see an opportunity for
turn. They like Chicago and say that
Chicago spectators are pleasant gentle
men to do business with. The Chicago
spectators also say that the Minneapolis
millers are pleasant gentlemen to do bust
ness with. This mutual admiration is
something wonderful to behold
Corn was excited. irregular and lower
The opening was strong, nervous and 4c
higher. Everybody came into the pit with
selling orders, suppoSing that there would
be a rush to buy. There was
VERY LITTLE EARLY TRADING
in cash, but November sold down from
445sc to 42%c, year from 4114c to 405s,
and May from 3919c to SOC, November re-
covered 1c and the later months held
steady with a slight improvement. After
some sharp fluctuations November closed at
44c, loss on the day of &c. Cash closed
at 46c, and May at 1890, or sc higher
than yesterday. Receipts of corn continue
light, but the predicted cold wave led
many to expect an increasing movement.
Later November sold down &c,
other features closing about steady.
Provisions opened lower, spurted upward
little, relapsed and closed rather weak at
prices shade lower than yesterday. Bust
ness was OF a lighter volume than for some
days past. The impending advance in rates
has not as yet produced an increased ship
plent of the product, but it is expected that
the coming week will see a good deal of
stuff go out. Pork closed a point higher
than Yesterday at $500 November, SS.6779
December, S96215 January, S9.72H Feb
ruary, the latter 215c decline. Lard was
off 213c all around at SCOTS November
and December. S6.17H January, Sc. 25
February. Ribs were unchanged at S4.S5
for January.
PETER BERKEY, Pres. F. W. ANDERSON, Cashier.
c. W. GRIGGS, V. rres. A. c. ANDERSON, Asst. C.
TILE DAHL NATIONAL PANJK