St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-25
The Market Quite Decrepit, Bears Indulg-
ing in Slight But Effective
Squeeze.
The Markets Very Dull, And Close Lower
Under Lack of Trading Slim
illus.
More Gossip About the Clever Chica-
goan Who Manufactures War
News in England.
Stock Jobbers Have Abundant Time
to Talk, and Are Not Bothered
With Business.
Chicago.
Special to the Globe.

Special to the GloDe.
CHICAGO, April 24.-The expose in yes
terday's GLOBE of the scheme of rich
clique here and at New York to work the
London market for consols for the purpose
of milking the wheat market at Chicago,
caused great deal of talk. The scheme
once exposed was of course exploded. This
morning the precious coterie which has
been getting so much war news IN advance
of everybody else in town, were utterly at
sea. ''There's nothing to trade in,' said
one disconsolately. ''Do you lind things as
dull everywhere as they are in this Officer"
inquired another, plaintively. There was
no war news. This was remarkable, for
during the past thirty days there has not
been a day when there has not been any
amount Of war news. The members of the
clique did not even have consols quoted any
later than anybody else on the floor. Every
body noticed this fact and commented on It.
1.-THE whole story" said John Dupee, ''con-
corning Eichold was
AN ATRoCIOUs LIE.
/ have cables from EichOld every day and
he is in Paris. He has not been in London
at ALL He is not i'll the employ OF any
clique ito milk this market. He simply
sends US advanced information when he
gets it."
Are you sure he has not been in Lon
don?"
'.Sure. have cables from him every day,
| tell you and he is in Paris"
''All lie. said G. II. Roche, referring
to the special published yesterday. ''Eichold
is in Berlin. l know what Pm talking
about. l guess 1 ought to know, at any
rate, l make all Mr.. Eichold's investments
and have charge of his finances. | receive
cables from him regularly. Mr.. EichOld is
in Berlin Been there all the time, and
been 10 where else. | know what Pm
talking about, and don't you forget it,"
Nothing in the story at all, " said Norman
B. Ream, who was charged with being one
of the clique employing Eichold. ABE is
not in London, and has not been. He's
been in Vienna all the time, l hear from
him all the while. He has been giving us
prompt and
RELIABLE INFORMATION.
as to markets and the diplomatic situation,
but has not been ringing the market, as is
charged. Mr.. Eichold is nice gentleman.
l know him well. Where is he? Why, l
tell you, in Vienna. L know what Pm
talking about"
The opening was marked by weak feel
ing and an almost entire absence of outside
orders The variation in conSols was not
decided enough to have much influence and
the general tenor of the crop reports was
more favorable than for several days past.
The decline was graded but steady and at
the beginning the heavy operators had no
inclination to indulge in the boosting pro-
cess. Throughout, the day was one simply
for scalpers and the locks they garnered
were few, but not very hirsute In the abb
sence of cables the report that lot of
wheat in leaky vessel at Milwaukee had
become heated was used as the basis for the
statement that everything In sight
WAS DAMAGED,
but the attempted scare was not effectual,
and prices retained remarkable steadinesS.
Nothing aside from an actual declara-
ton of war will start anything like a
BOOM" said an old timer. There are
many things just at the present time opera
ting against higher rates and nothing short
Of gore actually shed will help matters out.
Aside from everything else, the mere fact
that general moving is taking place, and
that nine out of ten firSt-claSS firms are
breaking up housekeeping to launch out in
new quarters, is enough TO demoraliZe things
somewhat A man can't move his place of
business without deyoting very considera-
BILE portion of his time to it, and you will
notice that very personal attention Is be-
ing given to the details by the heads Of
firms. In the meantime they are repre-
scented on the boards, but their men are
more IN the nature of lookouts. l expect
lively business, when we get fairly settled
III our new home, and not before"
AT THE OPENING
the London market was firm, with good in
quiry; higher prices asked, but no advance
established Consols opened ut % 4, adj
vanced to 95 5-16, declined to "a 1916 and
closed at % l-16. Our market was quiet
and featureess with rather light trading
throughout the entire day Dealers seem
to be as badly mixed as Gladstone and De-
GierS and each is waiting for the other to
knock the chip off his shoulder.
Local dealers are still very bearish and
now largely short and while anxiously
waiting and hoping for lower prices,
show no disposition to close their
line of shorts. On the other hand the bulls
show no anxiety to buy, and seem to be
waiting for the shorts to come into cover.
June wheat opened ut 9015c, declined to
S99sc, advanced to 90@sc, and closed at the
highest point of the day, being just the
same rs yesterdays closing. Receipts were
light and shipments are steadily increasing.
NEW YORK REPORTS
one hundred thousand bushels taken for
export, and ST. Louis says Illinois and
Missouri millers are buying wheat and ship
ping it back to their mills. April closed
STSSc, May SSSsc, July 92$c,
Corn presented the same phase. Ii
started in weak on slightly higher cables,
and but very little was sold ut the start,
Opening at 4T15c for the first sale of 500
bushels it broke Immediately to 476c.
During the forenoon il sold Us low as 1880,
and on the decline there was fair amount
of buying. Lester and Everingham seemed
to be buying more than others. but the
amount they took in was not very large.
The May option closed ut axe, on the
early board. Later there was slight re
action, although the close was about &c
below yesterday, at 1880 April, 47$C
May, 472lc June and 4Sh4c July.
Oats ruled quiet and steady, the move
ment only being nc and the course down
ward. in sympathy with other grains, clos
ing sac April, S4$c May, 35hc June, S5S1C
July. SO4c August.
PORK REMAINS FEATURELEsS.
The outside crowd are reputed to be LONG
and waiting for some change. They have
formed an opinion that Armour will try Il
run n big deal this year. but there is little
likelihood of his doing SO. Some of the
brokers whom he employed to run his last
deal, are said to have suffered heavily and a
prominent trader. speaking of the matter,
to-day said: 1T will be hard for him e
getaString of brokers to do his buying again. =
This same trader said: For the first time
in ten years lard is selling on its consump-
tive basis, At the same time it is dragging,
but this arises from the fact that there is no
speculative trading in it. l have for years
kept carefully prepared table of statistics,
and | find that l50. 600 more tierces have