St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-06-10
GOULD STOCKS SICK.
Continued Raid on Gould
Stocks and all the List
Lowered.
Chicago Markets Dull, Specula-
tion Light, Large Receipts
of Grain.
Pork Products Strong, Slightly Ad-
yanced. Cattle Trade Slow and
Unsatisfactory.
Financial Situation Favorable Enough But
the Outlook is Bad for Speculation.
Financial Situation Favorable Enough But
the Outlook is Bad for Speculation.
CHICAGO
lspecial Telegram to the Globe. |

| markets were uull ana SpeculaIlOH uSuoi.
Speculation in the grain pit was rather slug
| glsh and the range of prices narrow wheat
as usual attracted most attention. 1t opened
firm, but closed weak at about the lowest
price of the session. The present outlook Is
certainly not calculated to encourage buying
except on severe breaks, and only then Is
the situation such as to justify more than a
| temporary advance; and it would appear that
those who trade on either side have little show
for success, except in scalping way, as
prices are down where it seems risky to sell
large lines of shorts and stand by them.
The provision market was without especial
change, both demand and offerings being
small and spectators being unwilling to
take large risks, while they think that the
few heavy operators are liable any at time to
manipulate the market in the direction that
serves their purpose best.
Wheat opened firm and higher under a
good demand on outside orders which led to
fair buying here. Gables were quiet and
steady, but New York failed to show any
improvement. The receipts were Ill cars, the
largest in any single day since April, and
the Withdrawals from store were only n, 800,
and sitter lake rates. Nevertheless the
opening sales were at 4@3sc over Satur-
days closing at 81 Is C for July, but the ad-
vance brought out large selling by some of
the heavier holders, and they in turn were
followed by small operators on the same side,
and prices fell to 9019c, at which there was
fair buying by shorts to cover sales in which
they had a scalp. Reports of cold weather in
England encouraged moderate buying by
brokers for an up turn, and reaction to Gle
was scored, but then offerings were increased,
including some large blocks by one of
the strongest bull firms on
the floor, who showed
disposition to unload and the demand not
being equal to the offerings prices receded
steadily and closed at 9015@90Ac. On the
afternoon board the trading was light and the
feeling unsettled, July wheat closing at
901Sc.
Dizziness was the prevailing feature in the
corn market. English markets were firm,
and Liverpool prices shade higher. New
York quotations were also better, but the
receipts aggregated 454 cars, of which 105
were contract, and heavier receipts may be
expected at an early day. The Withdrawals
from store were moderate, engagements light,
and crop reports uniformly good. The market
opened weak at Saturdays close 561sc for
July, but the offerings exceeded the demand
and after touching 56Ic prices declined to
5614c and closed on 'change at 565s@561 19c.
On the afternoon board the feeling was some
what weaker, but prices were unchanged.
Oats were quiet and shade lower. The
demand from shippers was fair at shade
) lower prices, but there was less inquiry from
the shorts who are supposed to have covered
last week The market opened weak at 33 nc
for July went down to 1890 and closed at
331lc
Provisions were slow. In both lard and
meats there was doubtless more activity than
on the closing days of last
week, but there was no particular
showing of life and the days
trading in all departments aggregated at
best only moderate volume. The feeling
governing the trading interest was decidedly
conservative and operators were reluctant
to branch out Prices. however, were strong
: and the entire market closed better than on
Saturday.
=
August and year delivery were made, but
there was no life and but little disposition to
to trade. The market was slow though
strong and prices 5@1Oc higher than on
Saturday. July sold at SIS. 9.30@19.3 3715 and
closed at s19 30 on both boards.
Lard was a little stronger and at the close
was quoted 219@5c higher than at 1 o'clock
Saturday. Trading was only moderate.
Short ribs were trading quite freely on
speculative account and closed sc higher at
S.55@S. 57119 for July.
Trade in the cattle market was generally
slow and unsatisfactory, with values 5@1Oc
lower on fair to good corn fed cattle, and 10
(020c lower on common or medium grass fed
cattle. Cows and other common native
stock were 2O@25c per 100 lower on account
of the large number of Texans on sale
Stockers and feeders dull and easier. The
best corn fed cattle made only
Sc. 50@0675, and second class 5000
@625 Grass cattle sold all the way from
So so to $50 for the best, and from these
figures down to S525. There were about
fifty loads of Texans on the market, for
which there was only light demand, being
quoted at s4(l4. so for grassers and 81 so
for so-called corn fed. The market closed
rather weak, and the general outlook was for
lower prices.
Under the light supply of hogs $1,000 less
than for the same day last week. spectators
boldly bought about all on sale, clearing the
pens almost before the regular buyers began.
Good heavy packing and shipping sorts al
! vaneed 10@15c, selling at s5.10@5.75; as
;. sorted light sold at s5@5. IS; skips and light
: : light at So. 75@4.25.
, There is literally no market for
: sheep. The pens were full of stale lots left
over from last week, mostly of the poor OF
common sorts for which there is no demand
;, whatever. Good to choice mutton sheer
y might sell in small way at S4(05. .25; com
mon and medium are selling at S4(04 So
and poor at So 50(0350. A sale of ninety.
nine averaging 55 lbs. was made at 81
> w. II. Minor s. Co. say: ''We consider
the situation as fayoring the long side o.
L L wheat on weak places. Corn is safe prop
y erty to have to stay with"
l. Afilmine, Bodman S5 Co., say: s0Tht
Il feeling is bearish, but at the
;, same time there is very little dis
position to short the market at these prices
/. and the market being practically evened ul
there is nothing in the situation at presen
to boom in on. If the crowd would sci
: short to one-half the extent they feel AMI
10 talk it might get up sufficient short inter
l. est to give us sharp upturn, but scalper
are doing most Of the trading now and sci