Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-02-25
UNFAYORABLE BANK STATEMENT
Has Depressing Effect Upon Stocks on
Wall Street.
CHICAGO.
TSneeieI Telegram to the Globe. I

shown and better prices were realized IN
nearly all the markets, but a reaction en-
sued and heavy feeling prevailed during
the larger part Of the day. The advance
induced free offerings, and the supply ex-
ceeded the demand. Provisions, which
has shown signs of another upward move
ment, sympathizsd with cereals and closed
very dull. The weakness feared from
Germany's action in excluding American
pork has not taken place, however. Large
quantities had been sent to that country
in anticipation of the event, and this has
somewhat reduced the stocks here The
course of the German government is fol-
lowing the action of France of two years
ago, and it is noticeable fact that the de-
crees were passed on about the same day
of the month. This is hardly the place to
discuss the matter. We shall
only re-echo the sentimens of the
American trade when we say
that this action on the part
of so prominent government as Ger
many is looked upon first, as unwarranted
and unnecessary, and secondly as 4 piece
of spite work. 1t is useless to argue the
reasons that force American hog
raisers and packers of hog products to use
extreme diligence as to the quality of
hogs slaughtered and product msnufac-
tured. They are patent to any enc of Or
dinary intelligence, and We can only sug-
gest that these blows at American COM
merce by foreign governments, are apt to
invite retribution. kilograms from Ger
many are already bringing the intelligence
that merchants there fear legislation IN
America against importations from Ger
many. Such action on the part of our
government seems clesrly warranted by
the current of events. This year we do
not need much assistance from the out
side world to consume our stocks
OF hog product, our supplies
being lare ely short and our home
demand good, but this cuts 40 figure in the
unjust action of Germany. Governments
like individuals sometimes do things that
they have occasion to be sorry for after
wards. This may prove to be the case
with both France and Germany.
On the board to-day, there was less do
ate aggregate business was transacted.
Early in the session the market ruled
stronger, and prices about 15c higher, due
partially to d good demand from shorts
who were influenced no doubi by wet
weather. Later the market ruled quiet
and weaker, and prices declined about rs
@14c. The receipt of wheat were larger
than for some time past, aud this partially
accounted for the reaction. The market
closed quiet and about 3$c lower than the
closing figures on change yesterday.
Corn was more quiet on the whole Early
in the day there was pretty fair specula- /
tive business transacted, and prices ruled
about 20 "a higher, influenced somewhat !
by the wet and rainy weather. Shorts
took hold more freely, but the offerings |
proved quite liberal, and under large offer
ings prices fell of about 1c from outside /
prices reached early. The reaction was |
partially attributed to the increased re
ceipts. During the closing hour
of the session the market ruled |
more quiet and closed easy The market
finally closed about $5c lower than the clos
ing figures on change yesterday. No. .
and high mixed in fair demand and car
lots of gilt edged receipts sold at SIC. Car
lots of regular receipts quotable about 16c !
under gilt edged. Round lots quotable
the same as February. Rejected in mod
crate request and sold at 1870 and special
at SOC.
Oats opened frmer and at one time
prices for future showed 4@1c advance
over yesterdays closing quotations. An
easy feeling in corn late in the session,
together with heavy arrivals influenced the
market unfavorably, and about &c of the
advance was lost, and quiet, dull market
was experienced. Sales of cash in store
oats light, for consignment not held
against contracts were offered by sample.
Car lots of No. 2 sold at 3924@4Oc, and
closed nominal. Sample lots in larger
supply, but demand very good and prices
steady. Owing to the oats being light and
stained. over one half of the receipts
inspected rejected. Cash sales of rye
were made at Co. for No. 2. Prices all |
around were without change. Market dull I
with only a light speculative trade. Sam
pies slow. Rejested in store nominal at
55c. Future deliveries were quiet with
the near futures entirely neglected and
May salable at yesterdays quotations.
Barley was dull. The in store
market vas nominal, and the
few bids and offerings of No.
for future delivery showed the bids to
be reduced, and buyers and sellers were
about 1c apart in views. Sample lots in
fair supply and quite slow sale.
The demand for hog products was mod
erately active and offerings fair. Early in
the day the market was stronger and prices
were advanced slightly on the principal
descriptions, and about the middle of the
session weaker feeling set in, and the
appreciation in prices was lost. Shipping
demand fairly active on domestic and
foreign account. Foreign advices were
more favorable to holders, and prices were