St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-01

prices, certainly not the trunk-line stocks,
Whatever may be the fate of minor lines
selling at lower prices, always open to
manipulation. There seems to be some
working power, however, whose interest Is
evidently in the direction of higher figures.
1t made itself conspicuous on Saturday by
closing prices at the highest quotations OF
the week. but the trick is an old one. The
object Is to open prices strong in London on
Monday morning, and to make good SELL
ing market here. Several names were
mentioned in connection with sthe move
ment, but there is no way of finding out
who the guilty person was. The prevailing
belief was that w. +. Conner was the
man. But those who know Wash" Con-
ner's views do not believe that he is likely
to buy stocks at the current figures
ANOTHER NAME MENTIONED
In connection with the advance of prices
was that of Mr.. Victor NewcOmb. who
says he has but very little interest in the
market, and he usually tells the truth when
he says anything. Another story was that
Woerishotfer was continuing his process Of
milking Canmach, process in which he Ia
reported to hare been indulging for some
time past. They would sell together large
line of stocks. but as soon as prices broke
under the sales Woerishoffer would
buy on the sly a pile of stocks
and keep them for old CAMS accomo-
dation at or 3 per cent advance,
Another milking process was attempted in
the street when Armour and Mitchell tried
TO get off some 81, 600, 600 bonds of the ST.
PauIs Kansas City extension. So far it
has not succeeded, the new line is to leave
the main line at Marion, between Chicago
and Council Bluffs. with cost of $40, 600,
according to Mr.. Mitchell, so that 81, 000,-
600 or So, 600. 900 should be sufficient for
the whole construction. but this great BOOM
ing concern wants 81, 900, 600, and this, it is
expressly stated, will not provide for
bridges or terminals. 1t is no won
der, therefore. that the street looks
askance at this new cheeky proposition.
Bradstreet's has always been treated in this
column as a reliable and careful exponent
of the state of the grain market. Its
articles are either signed, or the authorities,
whether official or semi-official, for statiS-
ties are always given. This week, how.
ever, an article is published to which no
name is appended, and in which
LOTS OF FIGURES
are given without any mention of the
source from which they come, so that the
reader cannot judge of their correctness.
The gist of this article is to show that in all
probability the stock of wheat in the United
CtdlSo Will NC OOMu Ou July UcXL ID
$4,000, 900 bushels, or what is generally
known as the famine reserve. If the
reader accepts the premises as
true, the conclusion is inevitable,
but the premises will seem to many
people deficient in substantiarion. Thus,
for instance, the visible supply of Jan. 1,
1886, is put at 1877, 900, 600 bushels, but we
are not told how this result is arrived at,
The farmers are sly fellows, and they may
have many thousands of bushels on hand
of which Chicago spectators know noth-
ing. Again, we are told that it is
understood" ''said" and reported"
that India, Australia and Russia cam
not supply the markets of Europe.
The general opinion has been
that they were able to do so and underseli
US by means of their cheap labor and cheap
transportation. 1t would have been much
more satisfactory if Bradstreet's had given
its authority for so suddenly changing its
views. 1t is very likely the worlds wheat
supply" will put up prices for breadstuffs
in this country and help Mr.. Armour and
the bull party generally. but that is not say
ing that the foreign demand for our wheat
will increase or the American farmer viii
get better price for it.