Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-09-23
GRATIFYING STeAOlNESS.
Chicago's Market Took All the Corn that
Came-The Offerings Immense.

iBy telegraph 10 the Dlsphtch.I
CHICAGO. September 22.-The compara-
tive steadiuess with which this market
stood up and absorbed the immense offer
ines Of corn that came out when Whites
failure was announced WAS generally re-
marked with surprise and pleasure 10y the
trade. Mllmlne. BOdman Il Co. alone sold
.OOO. 900 bushels. "for the. account Of
whom il may concern This was assumed
to mean White II Co... aud was
supposed to be corn bought on
! " hite's order during the deal. The
quantity of grain which the clique had
bought for September and October de
livery j. unknown. hut II must have been
enormous. for the actual arrivals OF corn
here daily for the past SIX weeks have ap-
proximated nearly hall million bushels,
and nearly oil OF TINS has been dehveI.d
on September contracts. while the toward
inc- have been nearly as large, the clique
in this way avoiding great accumulations
here. Only yesterday COunsellnan & Day,
who are accredited with beng the ship
ping AGENTS of the clique. took vessel
room Tor 100000 bushels.
WHAT HAS BycoME OF THE CORN?
What ha. become OF the vast amount Of
corn thus shipped 10 the seabOard Il not
definitely known here. Weii-lniOTmcd
trader said 10 an Associated Press reporter
some days ago, when talking of the mat
ter. that he understood that arrangements
had been made III advance by which a
large part Of II had gone abroad. but the
r0ld and stock gossip reports thht TINS
grain has been turned over 10 an eastern
finn. the price being marglned down SUI
ticleufly TO give that firm an outlook OF
nrotit IN il. Much of this gram was
ioupht at between 60 and 70c., against less
than soc. as the price to-day.
The LOSS TO THE CLIQUE A MILLION.
One estimate of the quantity of corn in
vnlyed in the deal puts 1t at lO,OOO,OOO
bushels and the average loss on III al ten
cents per bushel. or ~ ,0OO, 900, but Ills Is,
of course, mere guess-wOrh. CERTAIN IL is,
however. that the amount OF corn brought
on, from the presumably empty cribs III
tbe corn belt has been many times more
then WIS expected. In the latter part OF
.Iuly and the first of August, when the
dcal was IN It's early stage, there was talk
ot a corn famine before the arrival OF sup
niles from the next crop. mere WAS
Scarcely any corn IN tho elevators the re-
cents were insignificant, and cash corn
S,rTe,bt 81 marked premium. The sltua-
ton doubtless suggested the corner "Aicn
has lust proved so disastrous.
THE CHICAGO LOSSES LIGHT.
A. far a. can be learned the losses mere
are light, as local traders have iouent shy
of the deal from the beginning coiinnins
their operations mostly to other futures
than the manipulated ones. .Occaslonaily
thry made scalping deals, selling or puy-
mo as the case might be when the chance
offered. and covering whenever decent
profit was secured. In TINS way they were
anabled to nibble considerable out Oh tho
rrofits Of the combination WITHOUT run
nnin~ much risk or involving themselves
d.enlv. Commission houses also, with
cl,one orders, were mindful OF past ,, ex,
,er,ence with corners and generally called
,"aroins on the combination very closely.