St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-09
Amonp The Commission Mon


Among The Commission Men.
Splendid crop prospects with weather made on
purpose for big wheat yield is bringing wheat
dealers to their senses and the gamblers are
struck with CONSERVATION. Wheat sold down to
79Ac at Milwaukee yesterday and closed at soc
at Chicago. Under these circumstances any
paper less modest than the GLoBR
would perhaps remind its readers that the posi-
ton it took upon the question of low prices six
months ago. and which it had steadily main
tanned throughout, had been thoroughly sus-
tanned by the markets-S0c is the intrinsic value
of a bushei of wheat, and everything above this
price is only fictitious value placed on it by
gamblers, and which must be rubbed
off when the grain comes into actual
market OF course wheat will sometimes sell
below its real value, the result of panic and wild
scare. If the political prophet of the GLOBE
proves only as sage as the commercial prophet
and his predictions are based upon as sound
basis what glorious time there is in store for
the country to be inaugurated next
march, One great argument used by
the bulls is that the visible supply of
wheat is rapidly disappearing, that the millions
of bushels in the worlds granaries are growing
delightfully."- less in an astonishingly rapid man
ner. Although are not prepared to admit
this to the full extent of the claim, we would
suggest that there are two very important factors
which they do not seem to or if they
do see them they ignore their
Importance altogether, one is the large invisible
supply, and the other, and by far the more signi-
fcent, the immensely increasing visible supply
of flour. Now we would like to know whether
mans wealth would be in any way diminished if.
possessing thousand dollars in silver he were
to change 500 of them into $50 gold pieces; he
would have fewer pieces it is true, but
he would be possessed Of a thousand dollars all
FL,f tt,o
is gutted; expectation to Europe from the states
is insignificant both of wheat and flour; taking
the wheat and flour for instance exported in one
week-say in the week ending June 90, we have
from the Atlantic Sea board 1,1Si 900 bushels
in the same week England received from Aus
trala and New Zealand 7,50s,00 bushel, aud |
even from Chilli 1,495,000 bushels For that
week England received from all sources II, 0O0- |
000 bushels, of which the insignificant moiety of
i,1S4,000 bushels only were drawn from our
resources. Latest dispatches from England say
wheat dull and I'D and Cd lower. Advices from
the same source say that the crop prospects are
magnificent. These some of the reasons
which lend their significant weight to
influence opinion, but not
our desire for cheap wheat. There has
been less movement in wheat at this point dur
ing the week under review than the previous
week Railroad returns show 30 cars received
and 7s shipped, against 80 and f27 for the pre-
vious week. Elevator returns show 10, 173 bush
els received and 50, sos shipped. The cars re-
ceved were for the st. Paul rolling mill, and the
shipments were to the Minneapolis mills of grain
stored here for the association. Farmers.
wagon deliveries have been from 1900 to 4 goo
bushels street prices have been sOcG1S 5e prices
Ut country points have been 70c0s75c. Millers,
however, are not free buyers even at the present
low rates. They are beginning te learn. or rather
their former experience has taught them, that in
wheat buying it is better to
lot the morrow tax care of itself
and the best policy is 10 buy only
for present use. There has been more wheat Of
fered on change the past week than for some
time, and more has been sold. and although
prices have been low they have been above
HIiileTs' quotations. The local and northwestern
demand for -four reached the highest average of
the year, bat there has not been the slightest
improvement in the Atlantic coast trade, and as
to foreign business it Is just impossible prices
offered. The stocks OF grain in elevator yester-
day
Wheat .............15 IA bushels
Oats MISREPRESENTATION. 1882
corn. ...-...-..... .....-.. 2,S35
Barley Observation-Disclosures. 635 -
There has been slight improvement in the
demand for corn. and all offerings have sold
readily The receipts of oats were 10000 bush
els against 1900 for the previous week These
all went direct the consumer, and
1,s0O bushels were taken from the
elevator. Street deliveries have been light
Half dozen cars of barley were shipped in and
found their way t, masters at low rates. There
has been q fair demand for ground feed and
prices have ruled steady, - cars covered the
whole amOGnt Of transactions. Hay has not
been 80 active and receipts have fallen off Just
oHe-half; prices steady. The butter
MARKETS just where found it last week.
Receipts continue liberal and the de and not at
al rushing; prices are unchanged. It may be
stated for those who COMPLAIN az the aDUarent
~f44-s
above View York ami the eastern markets. Beans
are higher but the market continues slow
Bacon and hams are very firm and mess
pork excited; dealers here are selling
at least s. below Chicago prizes Dressed meats
remain very firm. Hops are much higher owing
to the UnfavOraole crop reports from Europe
Live poultry sell weil-sprfng chickens az 40G
soc, Old birds 59G60e; turkeys according to
weight at shout 12ise Fruits have been VERY
active during the week. st prices rang
ing with the supply aud weath-
er Strawberries are now about over but
ra<pberries. eurranss ard blueSerries are becom-
ing plentiful The markets are well supplied
with vegetables OF every kind and shipments are
made Of sound, fresh goods at prices according
to each days market quotations
II should be vel noted thsf the following
prices current are for round lots only:
BrrTzE-Receipss Increasing =greasete: packing
stock OF EavOE, sc: dairy. common to fair. 10
I1ac: choice dairy, I3G 15c; creamery I7Glscs /
weU known brands 1sgaoc; extra choice in 5Gf0
p. boxes. 3sT53c.
BEASS-conmos, s1-s5G1.s5; Medium, So d
9sS50 nzTy $40
BAe0S AND HAEs-Long clears bacon. f5c:
dry sale &c; shoulders. sGsl.ci hams $50
1s5s.
Mss PoEK-sts50G1s. 20
CHEEsE-SkiHa 5-se. fan cream e-1Oc-
DEEssED MEATs-Beef. city dressed. %
sse;szrsa psi-ae beef. &c -nHfton city dressed
9ss7 10c; veal. belle
FEcCE-Fat=nts ss7s. IS straizh. s4.5z
81 Bakers XX1L- Sz5T5.00: Iow grsies
S2--573-e0; Rye Eoar Ss-50Z4.co per barrel;
graham 81 -z554-50 per barrel: ozckwhsat HO1r. /
s75<t7.S0
HTDEs-Greeu- sslfed. Tsf GS4c. green sore;
az Efnt. lsc; salf, dry. axe: green lie; deer,