St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-08
WEAK AND UNSETTLED.
The Pulse OF Shares, Cereals and Pro-
visions Unhealthy and Devoid
of Strength.
Prospects of an Enormous Crop Make Spec
ulatOrs Chary About Investing
In Wheat.
Stocks Begin to Tumble Early in the Day
aud Continue Downward to
the Close.
CHICAGO.
Isnecial Telegram to the Globe. |

CHICAGO, Aug 7.-''Speculation is dead said
Abroker standing the edge of the grain pit
to-day. 1.-THE bulls stand in much the same
position as the two boys who don't fight, ones
afraid and the other darsn't." And the broker
wasn't very far from right, although there was
little speculation going on. The markets con-
tinue dull and Depressed and all leading articles
were easier and lowz-r except provisions, and they
hardly held their own. The receipts of all grains
were heavy, with the new crop forming a large
proportion of winter wheat and oats
1.-The country is fall of grain said bear
operator this morning Gwen the old bulls ac-
knowledge it and are preparing themselves for the
break which free crop movement must inevita-
bly, cause" Undoubtedly the prospects are for
very heavy yield. Mr.. Smith, of Bucking-
hams elevator, said to-day that all Chicago rail-
roads are receiving orders to send out grain cars
and they will be returned loaded at once. All
the influences Of the day seemed to favor the
bear side. New York foreign and winter wheat
markets were heavy and weak with downward
tendency, receipts liberal everywhere and
shipments light. and the amount of wheat -four
on passage for transatlantic ports is reported at
2,2S0, 600 bushels. Quotations for the day were
rather irregular, being very weak at times, and
then, under the influence of speculative buying
by local leaders becoming quite steady. Running
through them all, however, was strong under
current of weakness. September wheat opened
at s24c, &c under yesterdays last figures, and
closed at Sl2Ic the lowest point Of the day.
September corn closed at $780, drop from
yesterday Of &c, and oats nc
to 25a for September and n on October In
provisions pork went up 25c to S1S.75 for Sep
tember, remaining at S24 for August The pop
Mar bplief that lnrd and riba nre haodad +owords
corner induced shorts to cover, but lard finally
succumbcd to the general feeling of weakness
and dropped &c to Sl7.521:c for September.
Ribs alone higher, and at the close showed
gain Of 212c, the September option selling ut
$500
In consequence of large receipts and other ad-
verse Influences enumerated above the wheat
market was fiat and somewhat depressed. The
only steudyiug influence worthy of mention was
the taking OF a couple Of million bushels by par
ties who sold it yesterday. As a whole the
crowd were sellers and were led by the Adamses,
Lester, Carr and Poole. All these houses put
out large amounts. September ranged at 81at@
62A C and closed weak at the lowest figure Oc-
tober ruled % W1Mc over September and closed
at s3c
Corn opened &c under yesterdays last qnota-
tions, and ruled irregularly downward through
out the day partly influenced by the heavy re-
ceipts-iO0 cars-and partly by the course of
wheat. There was an early advance of &c but
later sellers came in very freely and depressed
values by large offerings. At the o'clock close
the market quiet and almost weak, at u de-
cline since morning of &c. On the afternoon
board the feeling was easier, and the
close for September was 5226c. That
option ranged during the day at 52as0l533ac
October ranged at 81 i l@52c. and closed at the
former figure. The corn crop Of Nebraska for
this year is estimated at 100000, 900, against
101,27s,O0O last year.
Oats Were duh, lower and weak. The fresh
arrival were IS cars, of which 81 cars were of
the new crop. This alone was enough to spoil
the market, which fell a ~ Rc closing at 25 q c.
for September.
only moderate business was transacted in the
provision pit and the feeling vas not quite 30
strong. Offerings were not very large and the
speculative demand, both on behalf Of local and
outside operators, was comparatively light For
eign adyices showed a decidedly stronger telling
in that quarter and prices were advanced Is Sd
on pork and Cd on lard and bacon. Eastern mar
kets were quiet and comparatively steady
Prices ruled easier for lard aud 5Gl7Isc lower.
closing steady at s. 523l for September and 81 G5
or October
The feeling was rather unsettled in the market
for short ribs. aud prices ruled 5@1Oc lower
early rallied again 1O l5c and closed at Ss 80
for September, and SS.S7ls for October
alt is the general impression among the uni
nitated, said provision broker "that short
Ii',a '"" 'r "i"u' out o, i've hogS one day and
u''''e'tN '"e next, "neh there was such
''u@9 mere 10 st" something some OF these
iu''''u"''u 'ooN'u7 oNer'ne Hst passed pork be-
.""'' - - AWAY u'"Ecrous 10 see ana Decause-
- ''" "' Io.Se' We 'n""e' Laru they passed too
o'''"S' w "s S"Pi'''"eSs anu because Oh the
20" '"'" W 'N' PVoP'e u"hu''hs IT, lhey
- '''S' in's was
ny "E''eu tn"t couIu
~, ',' I''""'' "'0 'nu' III we" oil 'He
.. N'eS as "'"p'."' 'n'us 10 90
~ '''' '"'' 7''O 1t "uU N'P' Ss'i'"s up
70 IL" ""H "E'' "neh some anxiety arose over
u'''t'''s' MUS must oe cured sixty days, YOU
N''"' .'''""' VI Pouuus nave oeeh sofa within
'"' |''' lofty u"ysior september delivery Where
are ''tE gong TO get them from: They can't
AZ '"'N''
"N'''P'S o' 'at'e are somewhat IN excess OF
"""' was -tneFal'y anu'lpStea ana among the
SrlH"'S were " large per cent OF hig, coarse, un-
L"'sn'' '"'l''' more OF th's class thaa for any
way ''' '"'"'" past hu!erS ulu not seem to
'.,' ""'" 'r'' '""'H "uu any 'nlhS DETER
.u19 ,I'u $40" ana sol" AT a shade lower
- ''''' '''' "'"'" nave brought on Tuesday
Wv '"' ',n'' manu. good smooth
,,,' ' wei, Is 1T any u'ine' making
So. 1'' "''''' S''o"' ''"SS ana rough sold
~ S''''S.o'|'' Oo"S were IN good demand on
''o'''' -, '''' s0'l'''y u ieA"ns' ana the best
WIZ '""N'"E strung P''''S' H'o'Ners ana iced
erS are scarce Win Il strong demand, aud thrifty
young steers would make good prices if on the
market
Nat Jones, who is in New York, was inter