Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-05-17
COMMERCIAL.
The ST. Paul Board of Trade--Proposal to
Erect AN Exchange Buliding--The Wheat
Market Deprt ssed--The Stock Market

|
Market Depre ssed--The Stock Market
| Stronger. 1F
ST. PAUL, May 10.
The eccentrioity of tho wheat market was
illustrated yesterday by sales of car lots on
track, No. 2, at $1.0S16. OF course wheat isn't
| worth that money either for shipping or mill
| ing, bat it is worth for selling all that the
owner can get for it. Business generally was
light with the wholesale houses as is usual of
SATURDAYS. and at the banks there was the extra
rush that Saturday always brings, for cash to
pay the weekly wages of mechanics and other
wage earners.
The board of trade meeting last evening was
attended by onlya minority of the signers, the
notices of the meeting not having been sent
personally to all the signers as intended. A
new proposition was advanced, and met with
some favor--to enlist membership of one
hundred, with $500 for the membership fee,
for the purpose of erecting an exchange build
ing and a volunteer committee has undertaken
to canvass the business community In further
ance of the project, and to report at an ad-
journed meeting to be held Tuesday evening at
the Merchants.
Wall & Bigelow's st. Paul circular of last
evening reviews the lake markets for the week
az follows: Wheat closed weak after week
of dali markets. The highest Chicago sold was
$1.I4A May, $1.141IJune, and 81. O5I July
the lowest Sl.l6 Nay, $1.1lI June, $l.051a
July. The market shows a decline from MN
days opening to the close of to-day of 81. q
milwaukee, highest points of the week wsre
$l.l4Ll May, $1.13 June, and $l.O9ss July; the
lowest 81 II May, $1.1015 June, and Sl07
July. The market shows decline from Mon
DAVIS opening to the close of to-day of 2$4c
May, 1%c June, and $5c July.
Foreign markets were very strong and higher
oil the week, closing steady and firm. New
York opened Monday at $50 for May; red
winter sold as high as $1.33, closing to-day at
81. 49, Exports of wheat from New York for
the week LOSS, 900 bushels. Exports of wheat
from all seaboard ports, including New York
for the week, 1880 900 bushels. Provisions
were very active this week. Chicago receipts of
hogs for the week, 1882 Pork
sold as high as high as $l0.65 June
and as low as $l0.111 4 June; showing an adj
vance from Mondays opening to the close to-
day rs to SOC per Dbl; close steady oniy a tribe
higher than Mondays opening. Short Iibs
show an advance of about 15c from Mondays
opening to the close of to-day"
New York dispatch of last evening says:
''The general condition of the market is I'M
changed. Business quiet mall departments.
Cotton in light demand for current trade, but
buyers not anticipating future wants. Prints
quiet, but ginghams, lawns and dress goods IN
fair request, and wooden goods quiet and
steady. The Bulletin says 1,500 cases of
Brunswick prints printed lawns, etc.. will be
peremptorily sold at auction on Monday next.
New York World, Wednesday: 1.-The govern
ing committee of the stock exchange this after
noon placed on the list $7,GOO,000 Chicago,
Milwaukee & st. Paul railroad cOmpany's six
per cent bonds, Southern Minnesota division,
and 81, 500, 900 seven per cent bonds to cover
the purchase of the Hastings Dakota road.
e. The Ne,g York Shipping List maintains that
the present anomalous and very unsatisfactory
condition of the iron trade can not be wholly
charged to the speculative element. Our do
nestle transformers in their haste to recoup
themselves from the improbable business of
the preceding i've or six years, put up their
figures during the boom to such extremes that
a pressing invitation was extended to foreign
makers to enter and occupy field that prom
Used SO extraordinary harvest. The invita-
tion was accepted; the result is now seen.
Concerning the New York wool market, the
Commercial Bulletin of that city. in its issue
of Wednesday, says: $50 far as made public,
the sales for the opening portion of the week
are of q limited character, and with
out the development of any really new features
as to the condition of the market. No holder
of domestic or any other wool is bringing de-
cided pressure to realize, and in most cases the
offering ia quite indifferently made, with the
limit of valuation much the same as for some
time past. A desire to secure customers, how
ever, would compel the naming of much easier
terms, as the current demand from manufacture
ers is unquestionably not only limited, but in
different, and they stand off awaiting the turn
of affairs as the new clips come upon the mar
ket. Thus far both California and Texas
growers have been compelled to modify the ex-
treme views with which they started, and this
naturally leads to the hope that similar results
may be obtained in other sections of the coun-
try.