St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-24
Union Pacific the Principal Suf-
ferer in a General Down.
ward Movement.
Spectators Advised to Look Upon
the Marked Reaction in Union
Pacific with Suspicion.
Operators and Visitors on the Chicago Board
of Trade Enliven a Dull Day with
Speech Making.
The Fluctuations in Cereals and PrOvi-
ions Very Slight and Traders Even
ing Up Deals.
CHICAGO


nc Iaru Things are dull enough in all conscience,
Rhy way but when to the usual depressing in
fuences you add the fact Of its being Saturday
day when any trades except evening up will
have to be carried over Sunday, the effect can
easily be imagined. Outside influences were
bearish cables reporting the usual dull and
heavy markets the other side, and the stock
market failing to show u single element of
strength III New York, reported more sellers
than buyers all day, thus helping he depression.
Nobody seemed to have any pressing business
to transact and when the chamber was invaded
by party of distinguished visitors there was
general cessation Of trade and for an hour
speech-making was the order Of the day, and
short addresses delivered by exGov
Ogesby, Gov. Hamilton and Senator Cullom,
who were among the visitors. This over, bust
ness was resumed, but no new life displayed.
September wheat opened at 79c &c above the
close yesterday, and closed at 1890 Corn for
the same month closed at 52c, loss of u over
yesterdays and oats closed at 251sc for that
month, gain Of &C. though the other options
hardly held their own. Provisions attracted but
little attention and ruled weak at Il slight decline
from yesterday prices.
The speculative market for wheat opened quiet
but comparatively strong and shade over the
last quotations yesterday but the situation be-
came weak almost from the start and prices
moved almost continuously downwards with yes
terday's buyers leading in the selling. Among
the depressing Influences private cables TO
the effect that Notwithstanding the report here
that war had been declared between France and
China, French exporters free sellers, and
this had tendency to discourage those who
had made the war ground for buying.
September opened at 79c, went up 1s { and then
fell oil to a close Of 7S &c, a decline OF 96c. Oc-
tobcr opened at SO1ac, went up to SOalc, and
then down to II close Of 79Gc, decline Of &c.
An operator in the wheat pit speaking OF the
situation said ''The receipts of winter wheat
will no doubt fall of materially after the close of
the month. There were heavy saes of early
August grain on account Of country shippers,
and this will account in some measure for the
large movement we have had thus far When
these contracts are all shipped in and filed l
think we will see lighter movement of wheat. -
Stocks Of corn are light everywhere and hence
there is not much trading in the near futures for
fear Of manipulation.
"Tho prospects arc so fine for the new CROP"
said Frank Kenneth 'that believe may sale
all bulges for 55c next May"
The opening about steady at an advance of
J.. g and for time there fair buying by
Canthcr, Baxter and Hepburn, witch sent prices
up another iic, but the weakness In wheat af-
fected the corn market unfayorably and at the
advance Shcrwin, Eycriugham and Schwartz and
Dupee were quite heavy sellers and broke the
market, the feeling for tina rest of the day being
dull and weak, the decline being to 52c for Sep
tcmbcr and 50aa c FOR October.
oats were generally heavy and quiet, the only
strengthening feature being good sized pur-
chascs Of September by Wallace, which advanced
that option &C. though half Of the advance was
lost after the influence was Withdrawn, the
closes being barely steody ut e5iac for Septem-
bcr and 25aac for October, gain OF &c on the
former aud II loss of q C on the latter as com
pared with yesterdays last sale
Very little was doing in the provision pit and
there no important changes to note Both
Offering and on speculative accounts were light
aud the fluctuations OF prices were within u
narrow range. Foreign advccs showed no ma
tcrial change, and eastern markets were quiet
and steady, while the shipping demand very
moderate Very little was doing in pork, and
the only change to note drop in the Sep
tembcr option from S9l to $50 Trading was
light in the lard market and prices ruled steady,
the only change being in October, which fell
2tac to s. g. Ribs attracted little attention,
Prices ruled l0Nl5c lower and closed quiet at
SlO.I2ia Tor September and $500 october
The supply OF cattle was small as compared
with last saturday. There was only u fair
demand. In fact, trade was rather slow, yet the
fresh receipts were disposed OF at about the
same prices rs yesterday, the market for the
week closing firm on good natives, but lower on
common and western cattle. The best natives
may be quoted AZ S65O501. second class So 500
BIS, native grasscr s.. .S0lI10, native cows
and bulls 81 5O.J2.75 Texas 50. l013Sl, Wy
NJ, IL
$o15at9t7.
With the fresh receipts there were about 90
GOO hogs on the market, which were Mt least TO-
GOO more than wautcd. The market generally
slow, and prices. especially on common.
medium, mixed and light, were lOGl5c lower.
The best heavy were about 558lOc lower and in
fair dcmaad. The market closed dun, with :, 600
to 5000 unsoid. Packers were not buying to any
great extent aud there was little or no shipping
demand, Armour it was reported, had a lsrr,
consignment direct from Kansas City aud II WAS
said there were other co0sigumcnts for other
packing firms. The bulk OF the best heavy sold
~ Sa.&5aG.50, a few extra aud Phi,adeiphias
S6Gug6.65. Light sold at S64J6.5O for corn fed
and S5.5l Gs5.Qo ,og grasScrs
The sheep market quiet with little or no
change compared with the past few DAYS.
llamll 4 Brine, reviewing the market for the
week, say: 1--WE have 20 note Il fairly active
grain market during the past week with no AL
terauou from prices curreutat thls time last week
Wheat closes almost w,houta fractional change.
while corn and oats show some improvements.
Provisions have been active, Speculatively, with
fair con~umptiye demand for the whole list.
Pork has been steadily held At S25 for August.
while for September and October the tendency Of
values dUsinc the latter part Of the week has been
downward, resulting IN \ decline Of about s.. so
per barrel for delivery durins the months last
named. Lard shows decline OF the week of
shout &c per h., while ribs remain
practically unchanged The auctua-
tons in wheat have during the past
week been on somewhat higher range OF value
than that current at the close Of last week and
although prices arc unchanged from those OF last
Saturday we think that the trade generally are
inclined 90 believe that advance is more probable
than decline. Foreign adyices are yet OF most
depressing character and reported sales on for
ei-U account IN this and seaboard markets have
addcd 70 the ,imidity OF buyers Receipts,
however AZ Kansas City and st. Louis show a
marked decrease Tor the past week compared
with tue preceding one and sdyices from the
winter wheat belts generally indicate thst farmers
Arc unwilling sellers at present prices. This can
hardly be otherwise and as there is probably no
country In the world where wheat now be
sold At productive cost. We think this seknowl
edged condition OF affairs amply warrants the
r.rtstf8n OF 4 favorable cbAusa before