St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-26

The severe decline the past three days has
been hard on the small operators who are
long and many of them have transferred or
out the bulk of trade. R. NJ. Murphy, who
operates on the open and big board, and
G. J. Scheifer & Co., of the open board were
among the unfortunates. Their loss will
reach about $4,000 each and they expect to
resume in a few days.
Receipts of cattle $4,000. The rain kept
many buyers away and the market was dull,
there being no export or shipping orders to
speak of and the feeling being weak. Light
steers quotable to SOS. .40c. for $50 to 1150
pounds average and S5.50@6.5 so for 1150 to
1850 pounds; choice fat steers $4,000
$50; calves 3(14.75; bulls 3.50@500. Re
eeipts of hogs 5000, against 1850 last
Tuesday; market dull, weak, and 5t910c
lower; quality of offerings poor; packers and
shippers $6.1507 10; assorted Sc. l0@6.7O;
ships 5.5006. 10. Receipts of sheep 1000;
inquiring light and feeling very weak, buy
ers holding off for better weather. Common
S4.5O@5.5O; s5@5.5O for good natives, and
S5@5.65 for good westerns.
r. Lindblom & Co., say: ''The raid and
panicky market of the last two days was a
natural result of the fact that nearly every
outside operator was long through regular
brokers, as well as the bucket shops. Good
parties have bought, but tried to buy low.
Export inquiries are fairly liberal, but it is
useless to expect any large exports until the
decline has been checked So
long as we continue to decline, so
long will exporters hold back and continue
months. When there is apparently no hope
left for the bulls, then the bottom is usually
reached. The one is the result Of the other
rather than the cause of fresh effects. Corn
was relatively strong, declining Ac but clos
ing higher than twenty-four hours ago. The
wet weather aids the bulls and the shipping
demand is good. Local options
are buying it and express great confidence
in the future.'
Wilmine, Bodman & Co., say: "The
shorts have been the principal buyers, and
we do not think capitalists are disposed yet
to make permanent investments in our
wheat Foreign markets are disposed to
probably decline as fast as we do. There is
still loud talk of the large blocks of our wheat
that is being placed for shipment abroad, but
we do not take much stock in these reports.
At the same time there is some increase in
the export movement, three hundred and
twenty thousand bushels having been taken
at New York yesterday for that purpose.
The decline has been large, and we think the
market may be getting somewhat short again;
and if this warm weather should be followed
by blizzard, which is not
improbable we might get a lively reaction
temporarily, but we still look for lower ere we
strike solid bottom. We think some reac
ton probable now at any time"
Crittenden & Harvey say: "The market
acts as if dragging around the bottom and the
feeling seems to be quite general among all
classes of operators that prices are now too low
to sell short with much safety or profit, and
it seems tous as if wheat bought now would
pay if held for a turn.''
Crosby g. Co.. say: "There are no indica-
tions of any permanent change in the feel
ing, but we are inclined to think that con-
valesence must soon follow this sickness
in all the markets."