Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-02-06
STOCKS DEPRESSED IN NEW YORK.
CHICAGO.
Especial Telegram to the Globe.l

CHICAGO, Feb. 5.-Only moderate Dusl-
ness was transacted on change to-day, Ow-
ING to the continuance of wire troubles; out
side orders were again greatly curtalled.
All markets opened weak, wheat being I'M
able to make much of rally. Corn, how
ever, made up its loss within 78@4c'
Provisions fully recovered, and oats held
better than on Saturday.
In the wheat pit trading was slow and
the market during most of the session
was quiet. Not many outside
orders were received and local
operators traded on moderate scale. Re
ceipts were small and market advlces OF a
favorable character for holders. The mar
ket opened about &c lower, rallied q @ &c
eased off again, became very weak, and
finally closed about 112c lower than the
closing figures Saturday, February selling
1Hc less, March and April 11ac, and May
%c. During the afternoon a somewhat
frmer feeling pervaded all the markets,
wheat being in fair request and sc higher
than on the board, and 100000 bushels
were sold on Call Ane
weather has had most unfortunate in
huence on the wheat trade, which was IN
the midst of healthy little boom. Late
financial crashes have also had their in
fuence to impair confidence. Last week
was particularly encouraging for the trade.
From its beginning there was lively
business in this market, prices ruling firm
and at the close February was about
416c higher than it closed the week before,
March 4 &c higher, April Al &c higher and
May 438c higher. The upward movement
commenced with the opening of business
on Monday, and continued steadily
throughout the week, the close of every
days business showing some improvement
over the day previous, but the extreme ad-
vance on Saturday was not fully sustained.
The cause of the advance was the strong
bull feeling which seems to pervade all
classes. Not only was there brisk de-
mand from local operators, but the market
was flooded with buying orders from out
side points, and the competition caused by
the filling of these orders led to a strong
and at times rather buoyant feeling. Con-
tinued strength in eastern and European
markets also contributed to the tirmness,
with the light receipts and rather unfavor-
able weather for the growing crop, also an
important factor in the situation. This
week does not open so auspiciously.
Spring and winter, although very quiet,
holds pretty steady. The flour trade
shows little increase. Instead of meeting
the views of buyers, holders
are asking former prices for the better
grades.
Owing to the storms very little -four is
being received, and the present prices
asked for wheat have caused millers to be
very independent. Local buyers, however,
show some readiness to accept asking
prices. Considering the snow. blockade,
the business of the past week has been a
good one, and the movement liberal,
in and out, although the
refusal on the part of
Eastern roads to report business making
it impossible to give figures, and it is said
all the mills are running to about their
full capacity. Although millers have adj
vanced prices for all good to fine grades,
they have to pay so greatly increased prices
for the wheat that it is said there is little
profit in the manufacture, with the export
stock being made from lower grade of
wheat, and can be sold at a fair profit at
about previous prices. The home trade
were buying more freely, and
having confidence IN future prices, were
willingly paying the advance and bought
fair quantity. Rye -four was going out
fairly. Buckwheat -four slow. Bran and
all mill stufs in light supply and ready
demand, and prices were holding up we'll,
with bran selling mainly at $12@1250 per
ton. Tue receipts of -four during the
week, as near as can be ascertained, were
13O,719 barrels, against 115,7SS for the
same period of 1882.
In the corn pit to-day but
a moderate business was transacted. Al
together the market was more quiet. In
reference with telegraphic communica-
ton by the cold weather and storms re-
stricted trading on outside account some
what, and the local spectators also traded
on a more limited scale. The receipts
MSIo SllIdlls anu d0N4OSo 1AO144 clD1OdO HSI0
of favorable tenor to holders. The mar
ket opened easy, and prices de-
clined $8@1ac below Saturdays
closing figures, then ruled stronger,
advancing 5000, fuctuated again, and
finally closed about 3S@1ac lower than
Saturday. No. was quiet and closed at
about 5515c. Rejected in fair request and
offerings light, sold at 4715@4 Sc, and spe-
cial locations commanded slight pre-
MUM; closed at 47115c bid and for certain
locations 1880. New mixed in good de-
mand and offerings light. The trading
during the afternoon was done at prices
H@4c better than the above. The feel
ing in the interior and at most
seaboard points continue quite bullish,
and of the orders received buying orders
predominant, The points most affected
by the tOlegraphic troubles are now south
erly and southwesterly, the heart of the
corn country, in fact. This undoubtedly
has something to do with the unexpected
lightness of receipts since the rush to
market during the late bull raid closed.
Oats to-day were firm. Cash ranged a