St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-10-13
The COMMERCIAL RECORD
A Cleverly Manipulated Market, Many
Being Compelled to Steer Clear
of It.
The Talk Of Corner Still Continues,
and Hutchinson Is Puzzling the
Crowd.
Financial Operations in the Monetary
CenteTs---The General Quo
tations.
Special to the Globe.

Special to the Globe.
CHICAGO, Oct I2-Wheat was not only ex-
cited and unsettled today, but there was such
an erraue and irregular string of changes in
the relations of the leading futures as 10 en-
tirely upset those who tried TO follow the
market. 1t HAD no course: il was ZigZag
path. Conditions have not changed enough
In week to cause one cent change in prices
II they were based on natural causes. The
action of the market today shows manipula-
ton more clearly than ever, and very many
were obliged TO keep clear of the deal en-
tirely. as there was no safety for small traders
or outsiders. Hutchinson was both buyer and
seller, and that, too. at the most unexpected
times. December was by far the most erratlc
future The talk of a cOrneIStill continues, with
Hutchinson puzziing the crowd by his tao
tics and Jones Kennett credited with invest
ing for a New York syndicate. December
started at SLY, bulged Up TO 81. 1SI2, there
being but little for sale, Linn. Stauffer,
Boyd & co. and Mccormick & Co. were all
sellers after the top point was touched and
the price went quickly Gown to SI.l5. May
sold up To Sl.I7l4 and back to S1.l4 When
December was at S1.l6 May WAS at Sl.14,
or &c premium. When December declined
ferenee one hour later. About noon Deem
Der bulged up to SLY and May
climbed only to SI15, again &c differ
ence There was little done in Novem-
Der, which sold Letween 81. 1919 and 81. l4l2.
At Duluth December was equally unstable.
1t opened 4c higher at S1.27I2, but went off
TO 81 .2514 in short order At ST. Louis De
cember opened at S1.13s4 and declined 1c
during the morning. The bears and export
erS at New York did little, through
4 fear of transactions here. Philadel-
phia exported $4,000 bushels OF wheat
and Atlantic points sent out considerable
-four. October corn sold to-day at 45lsc and
45l2c, closing at 45l8c. November, 4j1sc to
46c closing al 45l4c. or s4c under yesterday.
December closed AT 4Is4c and May 39ssc, or
but lsc under last night Receipts con-
tinue uniformly good. The number of cars
this morning was 5l7. of which 35I cars
were of the contract grade. The estimate for
Saturday was GEO cars. Out inspection for
twenty four hours, 215,0 900 bu. Charters to-
day, IL, 20OO bu at 2I4c to Buffalo. Oats
were quiet. closing lSG4c higher; receipts,
257 cars. january pork opened 7l2e higher
at S145O but il was offered rather freely,
and there was not very good demand. Ii
dropped of TO S1437l2, but finally reacted.
closing al Sl4.50, where it opened. Novem-
Der closed at Sl445, or 2I2c higher than last
night The provision market was dull much
of the time. November lard sold at SS.5O@,
S.57Ia, closing at the outside.
TIE ROUTINE REPORT
CHICAGO. Oct. l2.-The wheat market was
again a repetition of the preceding DAYS. not
N)ly so for rapid and violent fluctuations. A
.Aw speculative business was reported, but
generally confined TO professional traders
outside operators doing but comparatively
little business Domestic markets. although
ruling stronger do not respond to the ad-
vance here. I'D Chicago prices ruled from &c
10 &c above n " York. st. Louis and other
markets. except those in the NorthwCs',
which are higher than Chicago. Should this
difference in prices be maintained, it will
have the effect of turning wheat i'll this direc-
ton which would naturally seek other chan
nels. Still. the receipts here show but little
increase over preceding days Prices at the
opening were advanced 2I2I4c for Deem
Der and lI2c for May over closing fig
ures of yesterday, with May at one
time at &c discount Later declined
DC for December ana Sc for May. again raj
lied, but the closing was I2c lower for Dec
ember and 34c lower for May than the clos
ing figures yesterday. There was a mOder-
ate trade in corn. the feeling developed being
inclined to eaSiness. The market opened at
the closing figures of yesterday. and under
liberal offerings sold at 7sc. reacted Ice ruled
easy. declining lac became steady and closed
Ill SSitt+Yit lONtI illdll AtSlcEUdN- Inc tDleI
influence that caused the early decline was
the rather free selling by parties supposed
10 be acting for the operator who had been
identified with this market for some time
past, and whose operations have had good
deal 10 do with the course of prices
There was quite a brisk trade in oats
for May delivery, with prices ranging I2c
higher. Near futures still rule Quiet but
were shade better about IsG 4 c higher in
sympathy with the improvement on Nav
and a stronger cash market. \ fair business
was transacted in pork within moderate
range Of prices. Offerings by several large
operators were fair, and after opening 7I2c
higher declined pc before noon. Offerings
were small, but a stronger feeling developed.
and all the decline was recovered. Traders
took hold Of lard sparingly, and the market
was quiet. Offerings were not large, and a
steady market prevailed. y moderate bust
ness was transacted in short ribs. 4 steady
feeling developed ana prices showed no
change OF Importance.
THE GENERAL QUOTATIONS.
Wheat-N0. > October oTened at 81 l4Ia
closing at 81 II: November, SI.I6. closing at
SI.14l2 December. Sl.lL closing AT S1.I6:
May, Sl.16. closing at Sl.l434. Corn
No. 2-Octoler opened at 4Jl2c closing
al 45ssc; November, 455sc, closing at 454c;
December, 4Il2c, closing at 41Ssc. Oats
No. >, October opened al pic, clos
ing at 24l4c. November. 24lac, closing at
24s4c: December, 25c. closing nj 25I4c:
May, 29lsc. cl, sing at 293Sc. Mess Pork.
per bDl-NuNclhDtI. Optlltu Ut cl4-DU, CLOS
ing at Sl4.i5: year, S144O. closing at
S14. 40; January, S14.50. closing at SI4.5C
Lard, per 100 lbs-November opened at
$3.50, closing at SS.55I2; December, IS. I7I2
closing at SS.l9l2; January. SSI5 closing
at ssh. Short Ribs, per Zoe lbs
October Orened at $3.50 closing at
$3.50; january. S7.32l2, closing at 81. 32I2
Cash quotations were as follows: Flour
Firm and Homnallv unchanged Wheat
No. spring. 81. l30I.l1: No > spring, %
@99c; No. > red. S1.13GI.I4 Corn-No
?: 454c, oats-No. >, 24lsc Rye-No =,
57Is@5Sc Barley-No. nominal Flax
Seed--No. l, S1-53. Timothy Seed-PIime,
SI5o9l 90. Pork-Siess. per Dbl. SID Lard
Per 100 liJs. $40. Short Ribs-Sides
Qoose). $500. Dry Sailed Shoulders
(bOXedD, So: as. S7l2 Short Clear sides
boxed. $3.50 10. WhiSky-Distillers' fin
ished goods, per gal 81 % SugarS-Cut
loaf, Si4G S5sc granalated, use. standard A.
Tl2c. RcceiptN-Flour. 1900 bbls: wheat
10000 bu: com, 2Sl0O0 bu; oais. 229,-
900 bu; rye. 3l.0a0 bu: barley, 81 600
bu. Shipments-FlOur, I7.00J bbls: wheat
b 000 bu; corn. 25S, 900 bu: oats 22I $50
bu; rye. 12.OG0 hu: barley 81 600 bu On
the produce exchange to-day the butter
market was steady and unchanged. Eggs
o. I l -