St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-22
Stocks Down Because the Roads
Will Have Little Grain
to Carry.
Quarantine Regulations Said to be Already
Enough to Suspend Movement of
Products.
Heavy Iron Trade Failure at st. Louis
Adds to Bear Pressure the
Markets.
CHICAGO.
Especial Telegram to the Globe. /


of new wheat at st. Louis, and made conf
dent predictions based upon figures of their
own that there would be not less than 300
900 bushels of winter wheat in that city this
morning and there were but %, 900 bushels,
but the bears didn't seem at all discouraged
at the discrepancy. Over Sunday they had
found a new argument besides which the re-
ceipts at St. Louis did not cut much of a
figure. 1t was the cholera scare abroad. 1t
is undeniably affecting the produce markets.
If it continues prices are likely to be severely
affected by it, and the bears have at last
found an effective argument
''It has been one unfortunate circumstance
after another" said broker this morning,
''for the last twelve months. Business was
picking up little. At the low price of wheat
orders to buy from good class of customers
were commencing to flow in and steadily to
increase. Now the cholera scare has come
and orders have suddenly ceased" The
trader spoke dejectedly. He did not exag-
gerate the situation.
cit is not to be denied,'' said Frank Ken
net, ''that the cholera scare is unfavorably
affecting the trade and whatever cuts off
orders of course bears the market. It is
argued that even if the fears should not be
altogether realized the severe quarantine
measures already in force will cut down ship
ments and encourage buyers to hold off till
lower prices are reached
Another depressing influence was the cir
culation of rumors of the failure
of the st. Louis. Iron, Ore
and Steel company, with liabilities of S.
600, 900, which later in the day settled down
into definite report.
The statement that the visible supply bull
decrease of over 100000 bushels, buoyed
the market up shortly after the opening, but
the adverse influences noted above soon
caused a decline, and at the close August
wheat was &c lower than Saturdays close
and September s4c lower, August corn was
&c lower, September do 1c lower and oats
1sc@4c lower.
In provisions trading was omparatively
light and an easier feeling prevailed. The
offering and the demand were both small.
Foreign markets showed no material
decline, and eastern markets were
iisteady, but prices here ON lard and ribs fell
off somewhat, though not in proportion to
those of cereals.
Wheat opened steady but soon declined
nc, influenced by fine weather and weak
ness of neighboring markets. Later the
market was firmer and with frmer New
York market, improved &c, then fell off
again about &c. Later under a fair demand
an improvement of &c was scored, but the
advance brought out free sellers and prices
declined lie, closing at S3$l @SSTclfor August
and 85c for September. On the afternoon
board August closed at S31Sc and September
at 84$lc.
In corn, receipts were large, shipments
heavy and crop reports favorable. A fair
speculative business was transacted. The
opening was shade firmer but eased off
later &c, which, however, was soon recovered.
Shortly after noon the market weakened
under rather free offerings, and declined 1c,
then fuctuated slightly and finally closed at
sac for August, against 547S Saturday, and
sac for September against 55c Saturday. In
the afternoon the market was weak and lower,
both August and September closing at $500.
Oats were rather dull, lower prices prevail
ing in sympathy with other grains.
Nothing was doing in pork, with quotations
unchanged at $24.00 August and 1872 90 Sep
tomber.
Lard was also very dull spectators not
being inclined to do much trading. Prices
ruled weak and 501Oc lower closing com
paratively steady at S7.O5 August and 81. ~
September.
Short ribs shared the general depression,
there being but little trading. Prices ruled
weak and declined 100l5c, closing steadya at
S757 August and 81 IS September.
Scarcely 1000 cattle out of receipts of
$500, were suitable for the shipping, export
or dressed beef trade, yet these seemed
about all there was wanted to-day, as several
of the leading shippers were out of the mar
ket and trade was anything but active.
Prices, however, underwent little or nc
change as compared with Saturday, the best
making SO. 40(06.65 There were no 'stillers
on sale, and grassy lots In fair condition
were making So. 50(95 80, while thin grassers
were selling at 4.5004.S0. Among the ar
rivals were nearly 5000 Texans and western,
including thifty cars Of Colorados and twenty
cars Of Montanas, the latter the first of
the season. The outlook on
Texans was for lower prices.
One train of nice little cattle averaging un-
der 500 sold for S3.7 There was little or
nothing doing In stockers and feeders, but
the chances were that prices would rule as
low as last week. Common native stock,
including COWS, bulls, etc., arc selling very
low.
The hog market opened active with ship
pers and spectators the principal buyers
little or no variation on heavy sorts, the
best making equally as good prices as on
Saturday, but toward the close some droyes
that arrived late sold shade lower than they
would have brought earlier in the day. Light
sorts were more plentiful, as nearly every
commission firm telegraphed for the
same last week; hence they sold
rather easier, and as compared with the
highest on Saturday they sold considerably
lower, but the high priced lots on Saturday
were. it is now said, SCRATCH Yet for
all that it was difficult to get over $500
5.65 for the best, and some uneven lots
ruled as low as $40, and again few fancy
sold at $40.
J. W. Rumsey q Co. say: 'Present indi-
cations are for lower prices"
The Chandler-Brown Co. say: ut looks
tonight as if prices would decline still fur
Their before it will be time to buy. The bears
are using the spread Of the cholera in Eu-
rope and the unsettled condition of financial
affairs as a lever, and the bulls have to-day
lost some of their courage Of last week and