St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-09-05
THE COMMERCIAL RECORD.
Manipulators Squeeze Out the Small
Fry and Heavy Sales Cause
Tumble in Wheat.
a Good Feeling in Corn and Oats, the
Provision Market Being Without
Interest.
Financial Operations in the Money Marts
1.-The General Quota
tons.
Special to the Globe.

CHICAGO, Sept. 4-This was day OF SEN
sahonal trading in wheat. The crowd seemed
ready to sell long wheat and lots OF II on
short notice but the short sellers were scarce.
There was considerable new hard No 1
wheat received at Duluth from the territory
where the dispatches said there would not be
bushel. The visible supply figures showing
an increase Of over 100000 bu for the
week caused I9c reaction about noon, The
the opening price for December was l2c
lower, at 95c, and realizing sales put tha
price to 94l2Q94ssc, from which brisk ad-
vance took 1t to 95ssc, or Isc I'M
der the outside point touched at
the late session Monday, when the price
eased fraction TO 95I4c. Bloom sold
Hutchinson 100000 bu at one time and the
deal caused considerable cOmmotion. The
market then eased to 945Sc and Bloom had
an opportunity to cover so much of his sale
as was short wheat at a good profit During
The closing hour there was a second bulge,
and December went to $3.50; May sold be-
tween 9S7s and 81. There was good feel
ing in corn to-day and prices ruled higher.
The early strength was caused in part by
the cooler weather in the Northwest The
crowd realizes that the corn crop is not
made yet, and the lower temperature soon
frightens the shorts Receipts were
over 1000 cars, as expected, with $40 cars
of No. 2. The estimate for Wednesday is
525 cars. Oats were steady and a shade
higher. Provisions fluctuated within mar
row range, and the market was productive
of little interest. Hutchinson sold some pork
on the call, but October did not get below
S1440, closing at l o'clock at S14.42A, or
7l2c lower than last night. Lard held up
pretty we'll, and closed 5@10c higher than
yesterday afternoon, october resting at 50. SIS.
Ribs closed 2I2c lower on near futures, Octo-
Der resting at SS.57l2 at 1 o'clock. AT the
afternoon session the activity in wheat con-
tinued, but there was weakening in price
of about lsc. Corn continued firm. There
was a slight decline in pork.
THE ROUTINE REPORT.
CHICAGO, Sept. 4.-This was a day of sem
sational trading in wheat. The range was
wide, but no new ground was covered.
Sealpers profited by the action of the mar
ket but the smaller conservative trader was
squeezed out by the demOraliZing action of
the manipulatOrs. To begin with, there was
very little fresh news. The weather on the
other side was improved, but this appeared
to ease foreign markets but little, and conse-
quently encouraged the bears here and else
where very little. The crowd seemed ready
TO sell long wheat and lots of it, on short
notice. but the short sellers were scarce.
Whatever reports came from the North
west were pretty well OlNlu6u. Inc
visible supply figures showing an
increase of over 1000 600 bu for the week
caused I2c reaction about noon. The OPEN
Ing price of December was l2c lower at CSC,
and realizing sales put the price to 94l2@
947sc, from which a brisk advance took il TO
$3.50, or 1sc under the outside point touched
at the late session on Monday, when the
price eaSed fraction to 951sc. Bloom sold
Hutchinson 100000 bu at one time and
called margins on the old gentleman, Mr..
Bloom himself quickly putting up $3.50, 900
in securities. The deal caused considerable
commOtion. The market then eased to 945sc.
During the closing hour there was a second
bulge and December went TO 96sSc. May
sold between 9Sc6SI. Wheat closed at l p.
m. &c under last night, at 954 for
December. Other futures closed: Sep
TENDER. 94l2c; October 94lsc; May, 99S4c;
There was good feeling in corn and prices
ruled higher But for the unusual attention
given wheat there would have been big bust
ness i'll the corn pit, and very likely still bet
ter prices. The early strength was caused in
part by the cooler weather III the Northwest.
October sold at 44S4c to open, up to 45c,
back to 44s4@44l2c. and after another bulge
TO 447sc and closed at l o'clock at 445sc,
Oats were weak. in the early trading owing TO
a large gain in the visible supply, and de-
clined Isc. but recovered and closed steady.
Provisions fluctuated within narrow range.
and the market was productive OF little in
terest. Opening figures were slightly
lower for pork and ribs, while lard
started in at Il duNdIlcS over ldSl hight.
October did not get below Sl4.40. closing at
l o'clock at S14. 42l2, or 7l2c lower than last
night. Lard held up pretty well and closed
5@10c higher than yesterday afternoon, Oc-
tober resting at S9.S5. Ribs closed 2l2c
lower on near futures. october resting at
SS.57l2 at o'clock. During the afternoon
session wheat was moderately active and
weak. December closing Ss@l2c lower than
at O'Clock. The trading in corn was light
at unchanged prices. Oats remained quiet
and steady. Pork was easier, declining sc
from the l o'clock closing. Lard was steady
and without quotable change. Short ribs
were quiet and unchanged for September
and October, but January was 2l2c lower
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2 September opened at 94L2c,
closing at 94Ic; october, 94c, closing at
e35sc; November, 943sc, closing at 94Isc;
closing at 99lsc. Corn-No. 2 September,
d4I2c, closing at 44s4c; October, 44l2c,
closing at 445sc; November, 4.s4c, closing
at 43c; December, 39Ac, closing uat .39I2c
No. September, 24c, closing at 24c; Oc-
tober, 24Ae, closing at 24lsc; November
closed at 24l2c; May, 2Sssc, closing al 2SSsc.
Pork; Mess, Per Bbi,SePt 34I closed at at
Sl4.37l5; year opened at Sl3.75: January,
Sl3 so, closing at SI3.75. Lard Per 100
tbs-September opened at $3.50, closing at
S9.S5; october, $3.50, closing at SO. So; No
200 ~, C4bSliiS at VO-OO. 4,
SIS. I7I2, closing at SIS. 22l2. Short Ribs. PEI
100 Lbs-September closed at SS.57l2
October, $s.57I2, closing at Ss:5712
January, S7O2p2, closing at sos.
Cash quotations were as follows: Flour
firm. Wheat-No. 2 spring, 94@94hc
No. 8. s5QS9c; No. red, 94I2c. Corn-No
2, 44ssc. Oats-No.2, 237sc. Rye-No. 2,
53c. Seed-No. fax, s1.24; prime tim
othy, S1.75. Mess pork, per Dbl, Sl4 42lga
14.4o. Lard, per 100 lbs SO. So. Short ribs
sides Qoosel, Ss.57I.@S. 60; dry sailed
shoulders (boxed(, .$7;50@7 20; short
clear sides boxed, S9G9.25. Whisky
Distillers' finished goods, per gal, Sl.20.
Sugars-Cut loaf, slsGSi2c; granulated, Use
standard "A" 7l2c. Receipts-Flour, IL
2lO bbls; wheat 13S, $40 bu; corn, $40, $50
bu; oats, 23s. 992 bu; rye, 22,930 bu; bar.
ley, 23,349 bu. Approximations, S,47S
bbls; wheat 29,024 bu; corn, 141, $50 bu;
oats, 1914, 1913 bu; rye, 1884 bu; barley, 70,
119 bu. On the produce exchange to-day
the butter market was higher; Elgin, 22l2@
2314c; choice Western, 1SI2@19I2e; dairy
fancy, 16@17c; good, 13@14l2c. Eggs
steady. Cheese-Northern. 1543Ql6c.