Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-05-23
Little Doing in any Of the Other Grains
on Speculative Account.
PROVISIONS SLIGHTLY EASIER.
Very Little Activity Among the Stock
EBrOkers on WallIStreet
CHICAGO.
Especial Telegram to the Globe.

the average of late, but the trading was by
spurts and between intervals of dulness.
Some life was given to the wheat market
by Lindbloom, who bought heavily during
the morning, seemingly for the purpose
of sustaining prices. Corn was the weakest
of the cereals and has now ceased to cut
much of a figure; its boom has disap-
peared.
The board OF trade held an election to-
day for director to fill the vacancy
created by the retirement of Mr.. George
G. Eldrege. The only candidate for the
position was Mr.. James II. Milne,of James
II. Milne & Co., and the gentleman was
unanimously elected.
The conflict between the railroads and
the board has at last come to peaceable
close. The eastern roads, finding that the
board remained stubborn, and also that
the whole trouble was giving rise
to much inconvenience among the ship
pers, have resolved to again permit ship
pers to appoint such persons as they see
proper to attend to the weighing of east
bound freight and certify to the correct
ness of weights, and also to furnish the
board of trade hereafter with daily stats
tics of shipments. This action. on the part
of the railroads has been
taken without asking any con-
cession whatever from the board of
trade regarding the arbitration rule. The
roads will still refuse to go on Change to
solicit shipments until the board shall see
proper to change its arbitration rule so as
to make arbitration entirely voluntary,
with no penalties attached for refusing to
arbitrate.
At the opening of trading on change
wheat was a strong market. The receipts
showed a small increase, being sixty six
cars against twepty-seven yesterday, but
the speculative inquiry was good, while
sellers were not at all larger.
Later in the day the offerings
we're largely increased, causing an easier
feeling and at the close July was about
38c higher than it closed yesterday, August
"a &c higher and September 18c higher. The
cold, unreasonable weather caused a nerv-
GUS, uneasy feeiiass among the shorts, who
were quite liberal buyers most of the ses-
sion. In addition to this prominent OPP
orator was in the market early and bought
heavily, bidding prices up whenever there
was lnll or indication of weakness. This
increased the nervousness of the shorts,
and gave confidence to the
bulls, and brought in quite following of
tailers, who also bought freely. Under
these influences, July sold 1 7sc over the
lowest point yesterday, August 17sc over,
and September 20 over. Extreme prices,
however, were not sustained and July fell
| 58c from the highest point, August 5sc and
September 15c, all closing easy. The af-
ternoon trading was at lower figures, the
mornings advance being wiped out on the
call board, where concessions of I@hc
were made by sellers. Lower values called
out good many buyers, and the call
sales amounted to 100000 bushels,
of which a million were for July delivery,
which was bid down to $1.11% and closed
at $1.12@1.121s.
Flour continues slow, and holders found
it difficult to obtain any kind of a sale. or
at least at previous asking prices, and the
tone of the. trade was dull one throughout.
Home buyers were taking only sufficient
for present wants, and shippers and ex-
porters cannot operate at all, being I'M
willing to even take the lower grades at
any price. Bran and all millstuffs were
going at lower prices.
Corn was quiet and dull, with specula-
tive traders doing but very little, not even
Offering to sell very freely. There was lit,
tie disposition to buy for an advance.
Outside orders were light, but the market
ruled tolerably steady and firm. June
closed about the same as at 1 o'clock yes
terday, July &c lower. and August nearly
unchanged. The continued cold weather
was favorable for the bulls, and there was
also good shipping demand, with pretty
fair charters, while the natural sympathy
with the frmness in wheat caused strong
feeling most of the session. The whole
fiuctuation of the session was only Ic in
June, sc in July and 10 in August. At
the close the market was rather weak.
The afternoon feeling showed little change,
and only about $4,000 bushels were sold
on the call. Buyers generally shaded their
bids trihe, but sellers were not willing,
in many instances, to accept any reduction.
All local operators say that one cause of
the dizziness is the fact that New York and
other eastern operators are tenn
porarily out of the market.
Habituss of Wall street are Just
now busy protecting their home accounts,
which are threatened on every side. The
bear influence is now so strong in Wall
street and railroad stocks have undergone
so sharp decline that New Workers who
were wont to deal in Chicago wheat and
corn have all they can possibly attend to to
protect themselves. The last of them, it is
| believed, threw overheard their Chi
cago accounts last week, and, as must be
regretted, most of them did so at loss.
A leading broker here says
that the Eastern spectators
have been singularly unfortunate
in their grain deals this spring and are be-
coming discouraged. Even if they were
not on the verge of panic in Wall street,
| he doubts if they would continue to buck