Daily globe., 1880-05-15

eose POIson-The Wheat Deal Held Steady
Provisions Up-Ths Stock Market Re-
acting Little from the Late Bear Move
ment,
ST. PAUL. May Is.
In St. Paul banking and commercial circles there
was nothing new yesterday. Business continued
active for the season, and material changes OF
values were reported For wheat, it is difficult to
ascertain what are correct quotations. Among street
buyers yesterday some were bidding 81 OS aad others
SI.O5 for No . wheat AIillers paid at their doors
SIC7, and sales of car lots to miers reported
at Sl.06. Shippers also divided in opinion,
some placing the value on track at SIO5 and others
atSI.O7 1t probable that for shipment to East
ern markets wheat on the track here, incoming, is
barely worth St.C5, but on milling orders, Eastern
and State, purchases a e made IN small way at
s l.05 to $IOS for No. 2.
twenty-five business men of our city have
signed the roll Of the new board OF
trade and agreed to pay the initial membership fee
OF $50. A meeting of those who have signed has
been called for this evening to organize the board
and discuss details of its operation 1t is probable
that an effort will first be made to bring in all the
heavy dealers in grain, provisions and country pro-
du e. and that then tn membership fee will be ad-
vanced. II is designed to conduct the board as
to encourage ransac Ions ou the board ana IL II can
be established as general rule that commission re-
cepts will be offered the board will be of great
advantage to st. Paul as market in steadying
ers something reliable 10 go upon in purchasing and
shipping. Undoubtedly 1t would be more satisfac
tory to the country owner OF goods
with all leading buyers present and competing and
ce -tainly it would be useful to him, and give him
90 Ihdence in the market, to have daily reports Of
TIA sactions aud the prices at which they made.
While it Is improbable that immediate success
would attend the adoption of the proposition made
by of the prominent wheat buyers of st. Paul to
withdraw purchasing agencies from the country and
establish the plan of selling for consignors on COM
mission Ia open board at St. Paul and minneapolis,
cou pled with the furnis hing of money to country
buyers it evident that tho wheat buying business
IN this State will within few years come of itself
to some such sy ten. Against any at
tempt to bring about SO radical change
by concerted and immediate action, is objected IN
sOns lIrtecs thI t1s tEJ tck4ts would be dtsas-
trousy affected by the rivalry between the two cities,
which is believed to be in Minneapolis as much of
disease among Ousiue.s men as it is among those
who have little mo hxed interest in either place.
True ths feeling of rivalry might occasionally crop
oit in ths two boards but the inexorable logic of
trade values would bring business men ia their
senses aud the market which VAS least affected by
such rivalry would soon come to be regarded the
most reliable and therefore the best. And since the
objection referred to would apply to all open
dealings In these two markets and to the pending ef
fort TO establish produce exchange in st. Pau 1t
Is well to bear mind that the different destinles of
the TWO cities to-day distinctly outlined than
ever before and increasingly different. st. Paul
is the commercial city and Minneapolis manufac-
turing town. and, despite local pride jealousy, the
unchangng influence of business interests will final
u bring the funess of what is already begun-that
St. Paul will do both the buying and selling for Min
neapols for many other centers of local trade or
manufacturing. Meantime, commercial property is
worth much here as anywhere else and finds
quicker better and larger sale here than anywhere
else northwest Of Chicago.
Street buyers were paying yesterday on Bridge
Square Csc for early potatoes, SG32c for OATS
S5c Tor in the and 9Sc, $lO5 and Sl.0S for
wheat.
A o. Bailey, Jackson street. yesterday received
over 81 900 hides from Eau Claire and Menomonie,
and consignmsuts of wooled pelts from various
sources amounting IN all to about l. 100 pelts
New York dispatch of last evening says: Tine
package trade remains quiet. Cotton goods in light
demand, blt agents prices unchanged. Prints dull
in first hands, Ginghams closely sold up and firm.
Lawns aud wide prints in fair request and steady
Mems wooens quiet but leading makes steadily
held. Foreign goods in light demand"
New York dispatch of last evening says: Dry
goods imports for the week. 81 1888, ,0OO.
Wall & Bgelows st. Pau circular Of last evening
says "Chs clIq1 is reported to have been selling
June in Chicago this morning. 1t looks as If the
clique did not desire the market to advance just yet
and was keeping it down." Also "Faken for ex-
port at New York to-day 1850 bushels. The stock
of wheat in sight in the United States and Oanadas is
21,2i2000 bushels decrease of 941,O00 bushels
since May " -
Chicago Tribune, Thursday morning: "The large
stock in sight coupled with dull markets abroad and
the fue outlook for the coming crop, made many
people think that prices must go much lower, and
they sold freely, the result being that an enormous
line of shorts were put on for May June and July.
The quantity sold short has been widely estimated all
the way from $1,000, 900 to three times that guam
tity: but outside the longs has any we'll de-
fined idea of the extent OF the DEAL as it Is very wide
ly scattered on the one side, however 1t may be on
the othsr." IBID: SIT remarked YESTERDAY that
There is not market the floor but has its boss.l
At the meeting of the Western Nail association,
Wednesday, Pittsburgh manufacturers strongly op-
posed the reduction, which was carried by major
ity OF one the West voting soid!y for the PROPOSE
ton. The rate iE now 1925 per keg instead Of 81.
proposition IVES also adopted to close all the mills
in the association for three weeks, beginning Mon
day next This action the part of the association
was partly Drought about, 1t is stated, by the ct
late developed that stocks are larger than was gem
orally estimated. At Pittsburgh the first impression
was that the trade would not be affected either way
by the action of the association.
Innoculation has been applied in Australia and
Scotland as preventive OF pleuro-pneumonla, with
good results. Daring the past three years Mr.
Rutherford has inoculated about 5000 cattle IN
Edinburgh and vicinity, reducing the mortality from
rs to about 5 per cent.
Mr. George 7. Angel, of Boston, who will be re-
rnembered in st. Paul. where he visited and leo
t1red last fall writes IS Jows concerning glucose
and glue Sc authorizations of gar: "Prof. O. r.
Fletcher of this city, Massachusetts State assayer,
also lecturer on chemistry at Boston university.
writes me that be has recently analysed various
specir ems Of glucose and glucose syrup, and found
quantities of free suIphuric acid in every instance
have also recent letter fran Chicago chemist that
the same is found there. The manufacture of this
article is enormously increasing in various parts of
oar country. 1 an told by dealer in Boston that
he supplies bakers conf5etiouers and brewers, and
that people are coming for it to be applied to new
uses almost every day This article sells from to
8X cents a pound. The highest grade of syrup,
think. brings 81 lnclose also evidence or adul-
tAration OF suga s, etc. taken in Chicago last fall
from most uuiupeachable sources, and which has
never to my kno Wedge been denied, and would add
that the great manufacturing chemist Of Detroit
told me last fall at the close of address gave be-
fore the Prismauc club of that place. that he could
not buy pound of sugar in Detroit which he could
use to coat his pills."