St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-26
A MYSTERIOUS DEAL.
The Operations Of F. A. Howe and Phil
Armour in Pork Said to be
Closed Out,
Thereby Causing Excitement in the Pro-
vision Pit, With Lively Trading and
Decline in Prices.
Grains Open Strong, But Decline
Later 10 the Disappointment OF
Expectant Bulls.
Stocks Keep Very Slow Within Mar
row Range in the Gotham Stock
Exchange.
Chicago Grain and Provisions.


Special 10 the Globe.
CHICAGO, Feb. 25.-Wheat was dlscoroahI
.haky and uncertain to-day, cables ditto,
crop news ditto. traders in the pit ditto.
The market opened strong and zee higher on
news Of the approach Of q mighty blizzard
from the Northwest. Public cables denoted
an Improvement abroad, but private cables
were very conflicting. The market did not
have the firm support that was expected,
and prices receded 1zB5sc. again raliying on
rll!nors Of export enga2 ernents. wh!co reports
we're subsequently denied. The l O'clock
closing was at the lowest point Of the morn
in2. An increase in the amount on passage
was a very important factor in the weakness.
The shippers Of wheat insist that all Inc re-
ported exports are bona fide. II they nave
been $50 900 bushels of wheat will move out
of New York harbor for Europe in the next
ten days. It is said Indian wheat was apenny
deurer, and that American wheat Was
firm. There was an impression prevaLlhg
to-day on the floor that Ream had made ms
turn in wheat ana was out or II. AGAIN IuiS
afternoon wheat was lower, selling down &c,
closing weak 5EG1sc under yesterday ut
SO5zc for February, S054c for March. o5ezc Tor
May and 6T&Sc Tor June. On the curp puts
on May sold at S559c and calls at o63zc. Corn
was quiet until after II O'Clock, when the
market Lecame moderately active. Early
prices were a shade higher. as Liverpool was
firm, and q strong operator was buying. Later
New York became weaker. Offerings in
creased. Shippers did not take hold freely,
ana prices declined 149aac, and closed Alg19c
lower tnan yesterday. May opened al 4OIsc,
sold 10 4U2Sc and closed with that price bid.
March sold at 371z0371ac, and closed weak at
lowest prices.
THE DEAL IN PORK,
which F. A. Howe of the Grand Trunk has
been credited with running for some mys-
tefi0us principal, and which has been the
N inn
lators for two months, is said TO have been
closed out. Pork bought by Howe is said
20 have been settled up, especially
March pork. Howe is supposed TO have held
1900 barrels OF pork for MS principals.
Who they were nobody knew. lnasmuch as
Howe was connected in business way with
Swift, the millionaire dIessed-beef shipper, IL
was at first set down IS his speculation. 1t
is said that he denied having anything TO do
with it Then it was said that Howe repre-
scented crowd of rich Canadians. Just as
soon as it was reported that the Howe deal
was closed May began TO drop. From
SllI5 May went to SO. go, with every
body feeling very weak and nobody buying
but shorts. The operations OF the Howe
clique have been a damPer Oh operations by
anybody else. Nobody wanted to buy for
fear that Howe would sell; nobody cared To
sell for fear Howe would keep on buying. 1t
was the puzzle of the pork crowd fora month.
''lt is now likely" said broker, THAT the
market VIII decline unless Armour takes nOld
of it," On the late board May pork sold down
to $40. 65 with q rush. but reacted anu closed
at $10.721l. 1t was generally believed that
Howe had, after all, unloaded; that his deal
was for Armour, and that great operator was
now short instead of long. The feeling was
decidedly nervous. 1t was veritabe scare
market. Some thought that Armour was
breaking the market TO pick up lot Of cheap
property. The loss for the day on pork was
40Q421Sc, on ribs I0c, and on lard l254c.
PETER BERKEY sPres. +. w. ANDERSON, Cashier.
c. w. GRIGGs V. Pres. A. G. ANDERSON, Asst c.
THE ST. PAUL NATIONAL BANK.
CAPITAL, 100000.
f~o-,,or I7;ftb .Dd IanLrsan straafa