Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-05-16
COMMERCIAL.

| The St Paul Board of Trade--Proposal Il
Erect AN Exchange Building--The Whea
Market Depressed--The Stock Market
Stronger.
| ST. PAUL. May 10.
The eceentricity of the wheat market was
illustrated yesterday by sales of car lots or
track, No. 2, at $1.0S1a. OF course wheat ISM
| 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 tu
pay the weekly wages of mechanics and other
| wage earners.
| The board of trade meeting last evening was
attended by only 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 adj
journed meeting to be held Tuesday evening at
the Merchants.
Wall q BigeIow's St. Paul circular of last
evening reviews the lake markets for the week
as follows: Wheat closed weak after a week
of dali markets. The highest Chicago sold was
$l.l4I May, $l.141lJ il G, and $40 "a July
the lowest $1.l6 May, $l.1lA June. $l,051
July. The market shows decline from Mon
days opening to the close of to-day of so. IA
May, 1Ic June, and 4c July.
Milwaukee highest points of the week wsre
$l.14I May, 81. ID June, and $1.09S6 July; the
lowest 81. IL May, $l.1019 June, and SLOT
July. The market shows decline from Mon
days opening to the close of to-day of 2slc
May, l. 20 June, and s6c July.
Foreign markets were very strong and higher
all the week, closing steady and firm. New
York opened Monday ut $1.30 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 1858, 900 bushels. Exports of wheat
from all seaboard ports, including New York
for the week, 2250,000 bushels. Provisions
were We, y active this week. Chicago receipts of
hogs for the week, 1882. Pork
sold as high as high as $10.65 June
and as low as $1011119 June; showing an adj
vance from Mondays opening to the close to-
day rs to SOC per bbl, close steady only trife
higher than Mondays opening. Short ribs
show an advance of about 15c from Mondays
opening to the close of to-day"
A New York dispatch of last evening says:
s'The general condition of the market is I'M
changed. Business quiet in all departments.
Cotton in light demand for current trade, but
buyers not anticipating future wants. Prints
quiet, but ginghaIns, 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: ''The govern
ing committee of the stock exchange this after
noon placed on the list 100000 Chicago,
Milwaukee & St. Paul railroad company's six
per cent bonds, Southern Minnesota division,
and $4,000, COO seven per cent bonds to Cover
the purchase of the Hastings & Dakota road.
The Ne1O 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 furnace-Owners, in their haste to recoup
themselves from the improbable business of
the preceding five or six years, put up their
figures during the boom to such extremes that
pressing invitation was extended to foreign
makers to enter and occupy field that prom
ised go extraordinary a 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 limited character, and with
out the development of any really new features
as to the condition of the market. No holder
or 0omestlc or any otner wool Is bringing oe-
cided pressure to realize, and in most cases the
offering is quite indifferently made, with the
limit of valuation much the same 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-
IRENE 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