St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-22
A Large Line of Transactions in
Grain, but No Marked
Advance.
Reports of a Heavy Export Demand
Cause a Better Movement in
Wheat-COrn Lifeless.
Pork Shade Higher and Moderately Active
Lard Dull and Unchanged-Cattlei in
Good Demand.
No New Features of Interest in Wall Street
and the Prospects Are for Period
of Inactivity.
CHICAGO.
Isnecial Telegram to the Globe.


,change showed a large line of transactions
in grain, and although no very marked ad-
vance was secured on any article dealt IN
for future delivery, there was stead1er tone,
with indications of increasing confidence,
while the movement in provisions was mod
crate, and closely confined to the ring OF
specuators from the so-called provision
crowd, who represent the packing interest,
either as packers or brokers, and outside
spectators were not disposed to touch any
article on the list and the demand for ship
ment to consuming points is small 1t IS
proper to say, however, that the small re-
ceipts of hogs and the very low quality OF
the bulk of the arrivals coupled with the fact
that nearly all the marketable hogs received
are taken for the eastern markets is favor
able for reduced stockers and better prices
were it not that the speculative manipulat1ons
have driven legitimate dealers entirely from
the trade.
Wheat was the leading speculative article
and trading was heavier than on any previ-
GUS day this week, and at times in large
blocks. Poole, Kent 81 Co. were heavy
sellers early, and among the buyers were
Kershaw, Walker, Lester, Lindblom, Driver,
Brega and the ''big two'' Jones and Ream.
Armour and Kent were also reported to be
in the market and to have taken a good
line for bulge, but just how much it is
impossible to state. Both of these gentle
men are at present in New York and the
latest gossip is that they have formed pool
for bull movement in wheat and on every
break liberal purchases will be made. About
2:30 Mat. James, who had bought 100, 900
bushels of wheat early, entered the pit and
sold 100000 bushels, 200 bushels to
Brega & Co. at 953sc and 200, 600 bushels to
Driver & Co. at the same price. Brega has
been heavily short and was covering
The same may also be said OF
Walker, Lester, and Kershaw, but Drivers
not, and after the call he sold it back to Jones
at95Hc. Lindblom also turned seller before
the close on 'change, but his largest sales
were on the call, where he let out 1,250,O ,OO0
bushels at 951S0951lc, and on the curb $780,
600 bushels more at 95@95Sc. On the curb
the purchasers were Brega, who took 25O, OOO
bushels; JONES' 200, 900 bushels; Lester 1OO,-
600 bushels; Jonnie Bearan, who trades
through Fleming q Boyden, $50, 600 bushels.
The remainder was in small lots.
Jonnie Bearan tried to bull
the market and bid for $4,000 on the bluff,
but got it so quick that it made him turn
pale, and he went out and dumped it in the
corridor in small lots at the same price he
paid for it. There was also number OF
smaller lots bought for bulge by other oper-
ators who followed the example OF Driver
and Bearan and sold their purchases at a
loss.
Corn showed less life than any day this
week, and the market had a tired look.
Many longs became frightened, and un-
loaded their holdings while they had profit.
Among whom were Comstock, while the
most prominent buyer was Lindblom. The
feeling was weak from the start, and fuctu-
ations confined to &c range. The weak
ness was due to the report of hot corn in one
of the vessels in the harbor, loaded with S0,-
600 bushels of rejected, put
in last fall, and was the
first vessel loaded. Inspectors say, however,
that the corn was cooled off and dried out
when discovered and will not have to be un-
loaded. The decline in rail freights 1219@
15c to New York has increased the inquiry
from shippers for wheat and corn, and
number of trades have been closed, Kershaw
taking over $4,000 bushels of No. spring
for which he gave May at 4Ic difference or
9O4@9O1Sc for winter receipts.
David Dows & Co. have purchased corn
for shipment east and south, and have got
engagements for 500, 900 bushels with the
privilege of making it 100000. Rumors
of engagements of from 1000 to 1000 cars
of -four and grain and provisions were freely
circulated, and a railroad official who was
anxious to know exactly how much had ac-
tually been taken figured up 1850 cars, after
consulting the agents of the. different
railroads, and his statement is believed to be
nearly correct The loadings of wheat and
corn to-day at the elevators were the heaviest
for months, especially at the Rock Island,
where the shippers are allowed rebate on all
rail shipments. The commission men and
brokers are working harder than usual to
secure business and spend their after
moons and evenings in the corridors of the
leading hotels looking for customers, and
whenever they are fortunate
enough to meet one he is
Immediately taken to the theatre or
shown the town at the firms expense. Last
evening broker who boards at one of the
leading hotels, went into the corridor to look
upa customer, and found him surrounded
by sixteen commission men and brokers.
all trying to get word with him. The out
side spectators who want to have good
time with the "boys'' should come in now,
as they will be treated better than after trad
ing becomes brisk, as the traders will not
have as much time on their hands then.
A. NJ. Wright & Co. furnish the following
from London letter, dated Feb. 30: seWhile
we have apparently heavy wheat reserves, a
majority of the surplus is of a nominal or
uncertain character, SO far as the milling
supply is concerned, very large per cent.
being low grade India wheat although it
figures as stock, not much over half is really
fit for grinding for flour and the good can
only be utilized by mixing with higher grades
from other countries"
Wheat in Liverpool and London was dull
Opening quotations in New York also noted
decline of 14@3sc from yesterdays close,
and the general character of the weather was
favorable for the winter wheat, but these in
fuences were balanced by reports of large
export purchases yesterday afternoon, and a
further inquiry for that purpose to-day.
Opening sales for May were at 95%@96Ic;
sold at $3.50, which brought
out large offerings and fell
TO 94%c, which checked selling, and for a
time ranged at 94sl@95c. The shorts COW
cred freely and with better demand nrices