Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-18

hence the crowd will be gnashing their
teeth because they cannot buy corn at less
than Csc for May, and there are plenty
who predict that within the same time the
crowd will be rushing over one another to
cover May at 55c.
Schwartz and Dupee did not seem in
clined to dump the 10000 barrels of pork
which they bought of Charley Singer last
Saturday, and some other dealings during
the day were put down to them, showing
that New York parties are taking an inter-
est in provisions as well as in grain.
There was an active business for
while in pork products. Although
the receipts of hogs were quite liberal
their prices went little higher, despite
the reported agreement between packers
not to bid against one another and to join
forces against the stock yard clique of
'shog scalpers." Armour, Cudehy and
Stevens were feeding out' product to-day
quite literally, and there was nervous
anxiousness on the part of shorts which
contrasted very strongly with the conf
dence with which they sold large lines only
a few days ego. Pork opened strong
advanced 10@121ac followed by gradual
advance of 15@ 20c. There was depres-
sion of 1oc, followed by rally of 100
1870, and then under large offerings the
market declined to the inside prices.
Lard developed considerable strength
but finally closed easy after losiDg an ad-
vance of 15@121sc.
February ribs we're moderately astive
and closed easy after losing the advance of
10@15c Per 100 lbs, gained in the
first hour. Pork products were
all easier and lower on
call and curb. I quote January wheat
99ss, May, SLOTS bid; January corn
$500, May, 61M; February pork s1465;
February lard $9.05.
Crittenden and Harvey say tonight
that wheat opened firmly with active trad
ing, and has averaged strong and higher.
Shorts were providing for outstanding
contracts literally, and the buying for out
side and local account IVES better than for
some days. The market at The closing
was little easy, but we think We can call
the general undertone firm.
Prices have already advanced sc
from the low point reached On this turn
and we deem little decline favorable,
but on any reasonable break would buy
wheat in confidence, as we believe with IL
creased speculations in its current prices
will soon appear to have been cheap. Corn
has been moderately active and firm. The
market did not seem TO ehoW great deal
of independent strength but wheat was on
the up turn and the local shorts were
anxious and covered where they could ind
sellers. The volume Of trade was not
very large, as holders did
current. We believe corn will prove pur-
chase on any reasonable decline, and anti
eipate better prices after few days. Pro
visions opened strong and prices wsre ad-
vauced sharply under a liberal feeling by
shorts, along with some good buying. All
the advance realizations by local holders
created an easier feeling, and prices grad
ually worked down to 1.-THE opening point,
closing steady at quotations. Prices
may be worked down little
further by the packing interests
bat the speculative interests are 30 large
and favor the buyers side so strongly that
we are inclined to think we would buy pro-
visions on weak spots and awaitfo appre-
citation. Receipts of hogs were $4,000
head; the estimated receipts for to-mor-
row 35,O90."
Shepard & Peacock wrote to their Gus
toners tonight: "From the opening Of
the market firm feeling has ruled, and
the impression was not slow in getting
around that speculation was again center
ing in wheat and leaving corn. The
market had sharp spurts of strength
and bat for the liberal realizing on the
part of some local longs the prices would
have held up better. Wheat has more
friends than it had on the last advance,
and consequently looks more like making
good stand for higher prices. Influences
are shaping themaelves more in favor of
the long side from day TO day. New York
keeps reducing their stocks and we expect
to see oar receipts falling OF, certainly
after the holidays if not before, but
not weak. Corn opened wsak,
advanced with wheat and then
suddenly weakened off, closing barely
steady, with January and May pretty close
together, The corn crowd has thinned out
considerably, as good many left for
wheat, whore the next boom is expected.
Receipts were not large. but the inspeo-
ton was little better. The present
snow storm is likely to keep receipts back
some, and if the weather turns of warm it
will not keep its grading qualities. As
We have heretofore noted the best bulls
have left corn, and the mar
ket has gone back to ita
original personality very much and
therefore more of scalping one."
Howard, White & Co., reviewing the
week in the Commercial Bulletin say
Packing operations were not prosecuted
just SO actively during the week just
closed. The supply of hogs was lighter
and some of the packers were not inclined
to buy quite SO freely at the extreme
prices demanded. more especially as th.
inquiry for product for immediate deliv
cry has slackened considerably. Ths
larger houses transacted good business