St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-28


closed at 62c.
Pork was rather quiet, opening weak at
$3.50; sold up on moderate buying by
shorts and scalpers, and closed at S17.7214@
1915 on 'change and on the curb at 1890
Lard shared with pork, opening
weak, and 7N@1Oc per 100 lbs.
lower at s9.25@9.2719. May sold at 1920,
advanced and closed at SO. 35@9.371a, but
the trade was chiefly local. Short ribs at
tracted little attention. The offerings and
demand were both moderate. Prices opened
weak at Sc. 221l@9.25, and closed at s9.35@
9.371l.
Receits Of cattle 5000, against 1876 last
Thursday. Exporters bought cautiously
and were particular in their selections,
wanting reductions from former prices
which holders Of good stock were slow to
grant, and bulk Of sales were at old rates
Common grades and butchers stock slow
and easy at 50. 00(04.5O for COWS, So 50QQ4. 80
for corn feed and 50. 5009450 for distil-
lery bulls; stockers 81. 0O(qS4-75 and feeders
81. 0OY@e5. %; light steers $5.OO@e5.80. Re
eeipts of hogs 5000; market again dull and
prices sc lower on all grades. Shippers and
packers are doing nothing to speak Of.
Skips and common light So 5006; packers
and shippers S6.1O@7.O5 choice light So. IS
Q06.69. Receipts Of Sheep, 5000. Buyers
operated with more freedom, the market was
firm and few sales of choice were made at
better prices. Sales at S5.121I0l5. go for
good to choice averaging 50 to 116 pounds,
and $4(14 so for common.
A. NJ. Wright q Co.'S circular letter says:
"Thc available supplies Of wheat and corn,
including stocks at nineteen points
of accumulation east Of the Rocky mount
aims and in transit from the west
to the seaboard and afoat on the ocean des-
tined for Great Britain and continental Eu
rope Oh the dates named compare as fol-
lows:
Wheat bu. Corn bu.
. S. East of Rockies, 800 80, $4,000 17,551,OO0
AAoat on ocean for Europe, 18,659,000 2,520O00
Total March "a, 1884. 5,234,000 @0,071,0 G1
Total previous week. is, 527.0O 1891 900
Total March 25, 1888. Al, $4,000 2O,f15OOO
Mccormick, Kennel 81 Day say: ''Wheat
is very cheap and purchases at present
prices will paya big dividend in the near fu-
ture or we are much mistaken"
Minor, Richards d Co. say: ''The market
can be summed up as being in a very fe
verish state and is liable to go up or down
sharply For the present, as there are many
influences that can be brought to bear on
either side, we would caution conservative
trading on either side; but our judgment
would advocate purchase at about S712c
for May. We are not sanguine but that be-
fore May deliveries are over we may see still
lower prices"
Crosby s, Co. say Of the days business;
''Wheat opened panicy with about the widest
and largest trade we nave ever witnessed.
Longs were slaughtered en- masse and shorts
covered heavily. The excitement was too
intense to read the trading, bat the fquida-
ton seemed complete, and the break attract
ed sufficient buying orders to work sharp
reaction of two cents, after which the market
ruled feverish the balance of the day. The call
was strong and higher under general buying
and the curb closes higher at S955cc May.
The situation mas undergone a change by the
days business, but we are reluctant to think
it permanent. The break closed about all
the outstanding trades, leaving the market
long about the stock in store. Provision
houses were free buyers all day and this led
to a rumor that deal had been arranged
with Armour at the head of it. This, togcth
er with the reported freight engagements of
one million wheat, restrained our local bears
from selling their lines again on the reac-
ton and also was the main cause of the call
and curb advance. If when the excitement
quiets these reports are disproTcn, our
market will be compelled TO resist another
selling pressure, or per contra deal can
bull it. In view of the existing demoraliZa
ton we prefer to see some tangible evidence
to support these rumors before crediting
them"
Shepard & Peacock, whose failure was
announced on change to-day, viii probably
amount to $40, 600. Peacock was formerly a
partner of McGeoch, and has been III bust
ness for himself about eight months. Their
suspension, they say, was not necessary, as
they had offers of assistance from many
friends, but they thought it best to close out
their trades and see where they stood, and
they expect to resume business in a few
days Kenyon Il Co. were also reported as
suspended, but cut no figure as their trading
was small. A number of firms transferred
their trades to protect themselves. j. T.
McCord of the open board was reported
failed, with liabilities $4,000 to $4,000.