St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-11-01
Melted A BIG PROFIT
Successful elimination Of the
Big Deal in October
RIBS.
Cudahy and Wright Clear at
Least a Million Dol
lars.
Notwithstanding Heavy Re-
ceiptS Wheat Closed
Higher.
Stocks Continued Buoyant,
and Prices We're Higher
on Wall Street.

CHICAGO. Oct 3l.-Today marked the cul-
mination Of the big deal i'll ribs on the board
of trade. and when the gong sounded the
honr for closing ribs were still king ana
Wright was their prophet. The pit was
jammed during the last quarter of an hour
the general expectation being that the shorts
would come in and attempt to fix price by
wash sales General expectations was
wrong. however, as the shorts did nothing OF
the sort and the great deal eliminated with
out a ripple of excitement. The price at the
wind-up was SI2 even, and the indications
were that the shorts had practically all set
tied, netting Messrs. Cudahy and Wright
about 81 100000 The deal was the outgrowth
of an attempt by the packers TO break Wright
who was long at the time of the cholera
scarce.
Wheat closed 5Sc higher, Notwithstanding
big receipts and a very close approach to the
heaviest visible supply on record. Corn
gained from S4c to Csc over Saturdays clos
ing rates. Outside of october ribs provisions
were weak and lower.
The general sentiment was decidedly better
i'll wheat than AT the close OF business last
week. The cables were higher domestic
markets better, anJ there were strong lnulca-
tons of a material falling off III the del1v-
cries The receipts at primary points last
week were nearly 100000 bu less than the
week previous, and the deliveries today at
Minneapolis and Duluth were over 300 cars
less than a week ago. The threatening
weather was also regarded as a bull factor.
as ii was thought it w6Ild have direct In
fluence in restricting receipts. This, in con-
nectiOn with the low prices, prompted good
buying. gGd also checked the selling. Coun-
selman x Day, Geddes, Wright and Haughey
and other prominent dealers were good buy
erS, but Logan and Milmine-Bodman met the
lpmqn6 for q timn and evidently had liberal
selling orders, presumably from New York
and st. Louis.
Generous crops were reported in the South
west and the inspection today was ITO cars
more than the estimate, but this did not
weaken the market to any great extent. The
market ruled firm during the last hour, espe-
cially for December, which advanced TO
within 534c of May 1t was rumored i'll some
quarters that Counselman q Day were large
hold ers of that month, and were vigorously
supporting the price of that month as well
as May. The visible supply did not show as
large an increase as some had expected. The
opening was about lsGpAc higher for Deem
Der, and Is DAc higher for May than the clos
ing figures of saturday. but December adj
vanced about S4c, while May advanced only
l2r, bringing the December and May within
sac spread. while at one time last week
there was 6lac difference. The close was
steady, l8c from the top for the day.
Corn was more active and higher. The re-
ceipts were about 81 bars less than expected
and the bad weather was expected to restrict
interior deliveries. Primes report as 10 the
husking was also regarded as decidedly bull
ish. Shorts covered freely, and. as there
was little for sale, the market was quite
strong for a time: but on the advance Cuda-
ny and Charley Wright sold freely.
Oats were firm all day. and closed with 70
@5sc gain. The condition. of the other mar
kets, buying by Logan, Harvey Schwartz. Du
pee and others. wet weather and good de-
mand for shipment were the principal rea
sons for the strength
The receipts of hogs were heavy, and the
market tor provisions ruled weak, with the
exception OF October ribs. There was quite
Il slump in everything else toward the close
January pork shows a loss of 37l2c; lard. zoe,
and January ribs of l7l2c.
Freights were quiet and steady at 24c for
wheat. and &c for corn, to Buffalo. Eslimat-
ed receipts for tomorrow: Wheat, $50 cars;
corn, 800 ears; oats, 26J cars; hogs, $4,000.
The leading futures ranged as follows: