People's Pilot, Volume 5, Number 13, Rensselaer, Jasper County, 19 September 1895 — AN UNTRUE MARKET. [ARTICLE]

AN UNTRUE MARKET.

CHICAGO WHEAT TRADERS CHAPCE MANIPULATION. September Price Advance* 3 Cants — Shorts in Corn Also Get a Squeeze Provisions Higher on Cash Business — Wall Street Unsteady. Chicago, Sept. 18.—Good judges of marker* looked on this morning and called the action in wheat the result of manipulation. It was argued that a local combination bid prices up to start outside buying. Others said it was an elevator scheme and pointed to the sharp advance in the September price. The chief result of the manipulation was to cause a scramble among t i e local shorts. Northwest receipts were heavy at 1,092 ears, against G9s same day last year. The exports were less than 100,000 bu wheat, and flour moderate. The early public cable was indifferent at %d gain at Liverpool. Later private cables were stronger. The market started with a strong leaning to the buying side, When the September price was rue*ed up 2c or more quickly the Morts got scared and general buying for December followed. The early advance was l%c over last night. The September at 60c, the December at 60%c, the May up to 64 : %c. Some selling against calls by local houses, some New York selling on an adverse gold rumor and some taking of profits by those who had no faith in the advance, caused a reaction of about Ic. September dropped back to 5914 c, December to 59%c. Before midday there was a revival of good buying and Decembe r price again touche 1 60%c. Just after 12 o’clock the market had another lift to 60%c December, 2c over last night, with bull market apparently gaining strength. New York reported no export sales of wheat. There were no cash transactions of Importance reported here. There was moderate»realizing by people who doubted the stability of the market at the advance. The close was at 60%c for December, %c off from high point, l%c up from last night. The September closed at 59%c, 2c up. May closed at 63%c, l%c up. There was in corn, especially the old crop months, a large short interest. When the bull wave struck wheat the shorts in corn became buyers. As the market was narrow prices were advanced easily. September opened 32%c and went to 3314 c. October sold 31%c, 1c over last night. Decern oer sold 28%c and 28%c. May gained lens, selling at 29%@29%c. The cash demand was good. Exports five ports today reached 253,000 bu. Withdrawals were large at 326,000 bu. Frojn 33%c for September corn oa the late rush of covering the qjose was 33%c, 114 c up. October 32%e, 1c up, December 28%c, %c up. May 29% <t) 29%c. Charters were for 231,000 bu. Quotations w«r» Articles? High” Low 7 —~Close. Wh’t-No. 2 sept. 18. Sept. 17. Sept. ..$ .60% I 55% | .59% $ .57% Dec «»% 49% .60% .58% May ... .6 4% 43% .63% .62% Corn — Sept. .. .33% .32 % .33% .32% 0ct32% .31% .32% .31% Dec2B% .28% .28% .28% May ... .29% .29% .29% .29% Oats — Sept. .. .19% .19% .19% .19 Octl9 .18% .19 .18% Decl9 .18% .19 .18% May ... .21% .21 .21% .21 Pork Sept 8.20 8.15 Oct. ... 8.25 8.22% 8.25 8.15 Jan. ... 9.55 9.42% 9.52% 9.40 Lard Sept 5.80 5.75 Oct. ... 5.85 5.80 5.85 5.77% Jan. ... 5.80 5.77% 5.80 5.75 S. Ribs — Sept 5.10 5.07% Oct. ... 5.17% 5.10 5.15 5.12% Jan. ... 4.87% 4.82% 4.87% 4.82%

Chicago Piodncn Market. Aples. [email protected] per bbl. Vegetables —Cabbage, choice, 75v@51,25 per 100; cauliflower, 25@40c per case; celery. 25c@$l per ease; cucumbers, 50c@$lper bbl; green peas, [email protected] per sack, onions, 20@25c per bu; squash, 15@25c per crate; Lima beans, 10@15c per qt: string beans, green, 50@60c per sack of 1% bu; wax, 75@90c; sweet corn, 2@ 5c per doz: turnips, white, 25@30c per bu, tomatoes, 15@35c per crate of 4 baskets. Beans —Pea and navy beans, hand picked. $1.25@L30 per bu: gaol, clean, [email protected]; Lima beans. California, $5.75@6 per 100. lbs. Cheese Young Americas, choice, 7%@Bc; twins, 7@7%c; Cheddars, 6%@7%c; brick, 8c; Limburger, B%c; Swiss, 10@10%c. Potatoes. bulk stock, 23@30c." Sweet potatoes, [email protected] per bbl. ButterCreameries, extra, 20%c per lb: first 18%@20; second, 13@16c; third. 9ff 11c; daries, extra. 17c; first, li<f 15%c; second, 10@ll%c; imitat inn creameries, extra. 15c; ladles, first, 11 @l2c; second, B%@9c; packing stock, fresh, B@B%c; greasg, 3@sc. Live Poultry—Turkeys, choice hens. 9%@10e pe: lb; fair to good, 7%@9c; chickens, hens 8c; springs, 9c: ducks, fair to choice. 8 @9c; geese. s4@s per doz. Eggs Salable at 13%@14c per doz when case.\.tre returned, 14@14%c when cases are included. Veal—Fancy calves, 8c pet lb; fair to good, do, 6%@7c; small, thin 6c; coarse, heavy carcasses, s@s%>c. Wall Street. New York, Sept. 18. —The stock market opened active and strong. The speculation was irregular after 10:15. Values receded fractionally, then improved with the gains in some cases quite pronounced. Share values at 11 a. m. were receding with considerable celerity. The pressure to sell against the ; > > ' ral list abated somewhat after 11 < a. but marked weakness was

noted in some of the usual in act its shares, particularly Erie preferred, which yielded 2%, and at noon rallied 1 per cent. The market at noon waa steady. Money on call easy; offered at 1 per cent. Prime mercantile paper 4@5 per cent. Sterling exchange steady, with actual business in bankers’ bills at 489%@489% for demand and al @488% for sixty days. Posted rates 489@490 and 490@491. Commercial bills 487%@487%. Closing quotations were: Atchison2o% Manhattanlo9% Am. Cotton Oil. 22%'.Missouri Pacific 36 Amer. Tobac.... 97 Michigan Cent..lbl Baltimore & 0.. 63 Nori hern Pae... 5% Can. Pacific ... 58% North Pae ofd.. 19% C. B. & Q 85% N. Y. Central. 102% C. & St. L.. 44% Northwestern.. 103% Cordage 7-\|N. Y. & N. E... 53% Chicago Gas .... 67% N. American Chesap'kdt 0.... 19% Omaha 42% Del. & Hudson.. 132% Omaha pfd D. L. & W 166 Ont. & Western 17% DistCatl FdC.. 19>« Pacific Mail.. 33% Den & It G pfd.. 53% Pullman Erie 8% Reading 19% East'n Illinoisßock Island.. . 76 East Tennesseeßichmond Ter Illinois Central. 102% Silver Cer Jersey Central.. 111% {Sugar Refinery.lo7% Kan & Texpfd.. 36\ St. Paul 74% Lead3s% St. Paul pfd L., N. A. & C.... 9 Texas & Pacific 12 L. & N 63% Union Pacific Linseed Oil 25 Western Union. 93% Lake Erie & W.. 25 Wabash 9% L. E. &W. pfd. 78 Wabash pfd.... 23% Lake Shore ....149% Wiscon’n Cent Government bonds stand at the following bid prices: Registered 25777. 96%;(hirrency rts.”'977l >l4 Registered 45.... 111 urrency 6s, ’98.107% Coupon 45112% Currency 6s, ’99.110 Currency 6s, ’95.100 {Coupon 5s Currency 6s, ’96.101 % 1 Registered 55... 115% Live Stock. Chicago, Sept. 18. —Cattle—Receipts, 16,000 head; calves, 200. Common to choice dressed beef and shipping steers sold at [email protected], chiefly at $4.80@ 5.50, with extra grades about nominal at $5.75@6. The stocker and feeder trade continued active on the basis of $2.4p@4,25 for common to prime, with sales largely at [email protected]. Most of the bulls went at $1.75@3, and cows and heifers were wanted at $L50@3,50, the bulk of the sales being at [email protected]. Calves were In good demand at $2.50@ 6.50 for inferior heavy to choice light weights. Hogs—Receipts, 20,000 head. For common to choice heavy hogs the ruling prices were [email protected], with prime butcher weights selling at [email protected]. Mixed lots found buyers at [email protected], and sales were made of common to prime assorted light weights at $3.90@ 4.65, pigs fetching [email protected]. Little pigs that weighed 60 to 80 lbs sold freely at [email protected], while those weighing 100 to 125 lbs sold largely at [email protected], Packing hogs sold largely at [email protected] and shipping lots principally at $4.35 @4.50. Sheep—Receipts, 18,000 head. Western sheep, of which the supply was chiefly composed, sold at [email protected], and natives sold from $1.50 to $3.65 for inferior lots to prime heavy wethers, the bulk selling at $2.50@3. Lambs were disposed of at [email protected] for poor to fancy, sales being mostly at [email protected]. Wheat and Corn. Closing prices of wheat and corn at the following named cities were: Wheat—New York —September,63%c; December, 65% c; May, 69c. St. LouisSeptember, 59%c; December, 61%c. Duluth—Cash, 56%c; December, 57 %c. Minneapolis-Cash, 55%c; December, 55%c. Baltimore—September, 62c; December, 64%c. Toledo—Cash, 65%c; December, 66%c. Milwaukee—Cash, 58%c; December, 59%c. Detroit-Cash, 64c; December, 65%c. Corn—New York—September, 39%c; October, 39%c; May, 35% c. St. LouisSeptember, 31%c; December, 24%c. Baltimore—September, 39%c; year, 34 %c. Liverpool. Liverpool. Sept. 18—Wheat—Spot, No. 2 red Winter, 4s 9%d; No. 2 red Spring, ss; No. 1 hard Manitoba, ss; No .1 California, 4s 10%d. Futures— September, 4s 10%d; October, 4s 10%d; November, 4s lid; December, 4s ll%d; January, 4s; February, 5s %d. CornSpot, American mixed, new, 3s 5%d. Futures—September, 3s 5%d; October, 3s 5%d; November, 3s 6d; December, 3s 6%d; January, 3s 4%d; February, 3s 4%d. Flour—St. Louis fancy Winter, 6s 9d. Peoria. Peoria, Sept. 18.—Corn—No. 2, 31%c; No. 3,31 c. Oats —No. 2 white, 20%@ 20%c; No. 3 do, 19@19%c. Rye—Dull; nominal. Whisky—Fnished goods on the basis of $1.22 for high wines. Receipts—Wheat, 6,600 bu; corn, 22,300 bu; oats, 80,000 bu; rye, none; barley, 3,500 bu. Shipments—Wheat, 4,200 bu; corn. 19,500 bu; oats, 98,450 bu; rye, none; barley, 700 bu. New York. New York, Sept. 18.—Butter—Receipts, 6,973 pkgs; western creamery, 13@21c; Elgins, 21cx Cheese—Receipts. 3,868 pkgs; large, 5%@7%c; small, 6@B%c; part skims, 2%@6c; full skims, l%@2c. Eggs—Receipts, 9,140 pkgs; state and Pennsylvania, 16@ 17c; western, 16@16%c. Coffee —No. 7, 15%c. Toledo. Toledo, Ohio, Sept. 18. —W’heat — Cash, September, 65%c; December, 66%c bid; May, 69c; No. 3 soft, 63c. Corn—Cash, 35c. Oats—Cash, 20%c bid. Big Blaze at Oshkosh, Wis. Oshkosh. Wis., Sept. 18.—Fire started in a carpenter shop connected with the Morgan Company’s sash and door factory this afternoon and soon completely destroyed it, together with the carriage factory of Gals Steich, tour or five brick stores and residences and piles of lumber owned by the Coulee Lumber Company. Losses are as follows: Morgan Company, $200,000; Gals Steich, $75,000; Coulee Lumber Company, $25,000; stores and residences, $50,000.