Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-22
CHICAGO.


Special Telegram to the Globe.
CHICAGO, Nov. 21.-The markets to-day
we're generally quiet and easier, cash corn,
however, being an exception. The pro-
vision market continues demoralized, a
direct result of the railroad war now in
progress. Last week a number of heavy
operators, both in the Chicago and New
York markets, who were long on certain
stocks, bought largely of pork and lard.
The break on the New York stock exchange,
consequent to the railroad troubles, has
compelled them to unload part of their
burden. and as consequence large guam
titles Of hog products have been dumped
onto the market here yesterday and to-day,
which in their present unsettled state
was more than they could
stand. All commodities dealt in
were affected. Among the heavy Chicago
houses selling were B. p. Hutchinson, the
Chicago Packing company and the Muir
ply Packing company. The futures sold
were January and May. November was
also affected, though not so much. 1t was
not in the form of ''raid." Heavy re-
ceipts of live hogs are expected this week,
and they are increasing daily. Packing is
in full blast, and many of the houses work
their men over time. Receivers experience
but little difficulty in disposing of hogs to
packers, while shippers of meats are re-
ceiv'ng big foreign orders. It is thought
by the shrewd short sellers that this will
cause the visible supply of pork to in
crease. Prices will doubtless go some
lower, although the bottom must be nearly
reached.
On the board to-day wheat was quiet and
weakening, afterwards improved some, then
eased off, closing with the month Nc lower
than it closed at 1 o'clock yesterday. Sell
Ter December but 70 lower, seller Janu-
airy about 1c lower, and seller May was
about ]4c lower. Early sales were at
about the closing figures at o'clock yes
terday. ruled generally weak and gradually
fell off 5s@Ic, then recovered a trifie,
again eased off, but closed tolefably
steady. On call the demand was quite fair
and prices steady. Later in tho after
noon ruling was easier again. Winter
wheat was rather easy under larger re-
ceipts, and spring quiet but without
special change.
A steady and firm feeling existed in the
flour market, exporters buying fairly,
taking good to choice f1ours and considera-
BILE low grades. The home trade was light.
Stocks are small, the export movement
keeping supplies pretty we'll reduced.
The strongest feature of the markets
to-day was cash and November corn, which
reacted strongly from their recent depres-
sion, and instead of following the futures
downward scored substantial advance
Both are held up by strong support that
will fight hard before it owns up beat and
pockets loss on account of heavy deals
in this month. This cereal generally to-
day was very irregular, being weak early
and selling down considerably, but be-
came strong later, and improved sharply,
and at the close cash No. 2 was lie high
er than it closed at 1 o'clock yesterday,
month e higher, year Ac lower, January
about 4 c lower and May c lower. At the
opening prices were about as they closed
at O'Clock yesterday, but ruled weak and
fell 10 on November, &c on year, and
4@3sc on January and May, but later be-
came decidedly strong. November advanc-
ing 155sc from the lowest point, year Ac,
seller January. nc, and May &c, afterward
fell off some, and closed tolerably steady.
On call, when the upward tendency was
stronger in all grains, further advance
of H@4c was made, but later in the
day, in curb dealings, there was an easy
feeling all along the line, and this last ap-
probation was mostly lost.
In oats there was 1a04c decline in
prices early for futures, due to fair re-
ceipts, fine weather and a decline in corn.
Sellers we're not numerous, and the mar
ket reacted 4@3sc, ruling quiet and easy.
Cash oats were about 60 lower and quiet.
In the afternoon, under a somewhat bet
ter demand, prices were tr1fe sitter.
Barley was in light demand and very
dull, and the rye market neglected.
Under the influence of causes before
mentioned, together with largely increased
arrivals of hogs and lower prices therefor,
the offerings of hog products were largely
increased, especially by heavy operators,
and the market ruled weak and unsettled
during the greater portion of tho session.
Prices declined materially on all the lead
ing articles, both for present and future
delivery. Shipping demand moderately
active, but orders chiefly for small guam
ties. The receipts of product we're mod
crate, and the shipments of all kinds quite
large. Advices from foreign markets
indicated an easier feeling in that quarter
and lard was quoted Cd lower. Reports
from the eastern markets showed sympa-.
thy to some extent with the weakness man
ifested here '',S
The offerings of mess pork were few,
and the demand quite active. Prices ruled
weak during the greater portion of the
session, and declined 3O04 Oc on the whole
range, but showed little more steadiness
near the close. Cash in fair demand. In
the afternoon there was good request,
but prices were still easier on call, and
closed the day on the down grade. The
demand for lard was moderately active.