Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-06-20

Lester Hobbs hammered away, Offering
lots of $4,000 bushels. Prices weakened
18@l4c, and $4,000 bushels sold at this
decline. The improved appearance of the
corn fields helped the tendency. Receipts
are also liberal-642 cars-although vessel
charters provide for moving $4,000 bush
els. The close is unsettled with a rather
waiting for the next" feeling be-
fore any decided movement one way or the
other. The bears are encouraged by their
success, and are talking SOC for August
corn.
Oats followed the lead of corn, and ex-
cept for the heavy premium of July over
later months, were featureless. On
the board cash and other
near futures were dull and lower.
The shipping demand was very limited
speculative demand for the near futures
also light. From indications shorts were
well filed, or did not take much interest
in the market and trading apparently was
largely in the way of closing contracts.
Considerable confidence was manifested in
futures of the new crop, for such deliveries
and the demand was equal to the supply.
On the call an effort was made to break the
market. \ very large line for July was
sold for Geddes. With this object
under sales of 100000 bushels this
future sold down &c, while other deliver
les lost but about 16c.
Cash rye sold off 15c and the options =
q 1c; but partially recovered on the call.
Nothing whatever was done in barley,
and the flour trade is at an utter stand
still.
The provision markets were less excited
than yesterday or Saturday, opening quite
strong and advancing, then weakening and
closing at lower prices than were current
at the close of Change yesterday. Receipts
of hogs were fair, considering the recent
large drop in prices, and light grades were
shade higher but with packers generally
buying sparingly. The shipping demand
for product was not good, but was fair
| and showed considerable improvement over
several weeks back. There was a much
steadier feeling prevalent, and one would
hardly realize from the current OF events
to-day that the market had been so badly
| demoralized within the previous two or
three days. Operators were uncertain to
considerable degree as to the possible fu-
ture of values, but the general sentiment
seemed to be that the market has been as
low as it is likely to go, for the present at
least, unless something unforeseen or I'M
| ont I'D ,,
disposition manifested to close up old
trades and get the market back again into
a normal condition. Near the close the
market weakened rather freely under sell
ing orders from outside, the Nichols mat
ter being telegraphed to outside markets
and creating uneasiness, causing some to
throw their property, evidently fearing
they did not know the worst. There may
be moro decline before the turn, for the
tone at the close Is very weak. The fear
that banks would precipitate another col
lapse by realizing on a large amount Of
stuff they hold as collateral, has been used
with considerable effect by the timid, but
would appear to be unfounded. The in
terest in the lard trade was unabated, and
trading, in the aggregate, was heavy. The
undertone Of the market indicated
considerable nervousness and changes in
prices were frequent on slight pretenses.
The market opened at about ye5terdays
closing figures, and under the influence of
an active demand an appreciation of 100
15c per 100 pounds was gained and mod
erately well maintained temporarily. To-
ward the close an easier feeling prevailed,
and prices receded 2115 a sc per 100 pounds,
and closed comparatively steady, The
shipping demand was quite active, and it
was understood exporters were purchasing
round lots and exchanging July contracts
therefor, and that 5000 tierces were taken
for export. In the rush of outside selling
orders later prices were pushed down $50
zoe. The transactions were large,
being 10000 tierces. Armour
has been heavy buyer
to-day, bnt it would seem as if all his boil
STEERING was proving insufficient. 1t is re-
ported he was carrying 10000 or 10000
tierces Of cash lard for McGeoch, on which
he had advanced 10c, and in order TO save
himself from slaughter, he has taken the
cash that the bankers were carrying at same
prices agreed on so that the whole deal
was arranged privately. This induces a
somewhat better feeling in the trade, but
all operators would be glad TO see business
very moderate till it is again smooth sail
ing. A great many are beginning 10 think
a sale opened at about SO would pay a
profit, and the opinion prevails that lard
will range from 50 to so for some time.
The offerings Of mess pork were quite
free and the demand fairly active. The
market vas unsettled and prices
subject to quite frequent fluctuations, but
confined within q moderate range. At
opening Of market prices were 1O9 15c
lower than at close yesterday, and a fur
Their slight reduction was submitted to-.
Later the demand was quite brisk and
prices were afterwards advanced 15@ zoe,
with an active business reported. Toward
close quite a sharp reaction set in again
and improvement il prices was lost. The
call decline was 15@ CSC. There are more
sellers than buyers and close is nearly
SOC under yesterday. Philip D. Armour,
L