St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-04-30
Pickles.
Among the Commission Mem.

ne week eHulHR yesIeruay mas De6Q an event
full one to dealers in wheat; or rather to the op-
ton gambler and more than one fortune has been
lost and won. 1t is well known principle that
If the fulcium OF a lever be placed nearer the
power than the weight to be lifted, the power
must be in ;rsa.ed or IN other ords tn at which "a
gained In time is lost in power and rice Uersa.
And this is precisely the case with option deal
ers; the longs and the shorts are the two arms
of the lever and what one gains the other loses.
In all bets and games Of chance when played
fairly, there must be loser to every winner and
often many. 1t is not surprising then that in the
gigantic wheat DEAL that several heretofore
strong men have gone under and it will be no
surprise II many more also sink be-
fore all last seasons wheat is converted
into -four. Dealing in options is ike playing
old fashioned game of cards called old maid;
to another backwards and forwards till it finally
is left in the hands of one unfortunate But
there is this difference, ''the CALF instead of
keeping intact, like the card gathers or deposits
in the hands of those who are passing it to and
fro till the final settling day, when it is worth
just as much as the miller is willing
to give for the wheat 1t represents
and no more whatever might have been given for
it at the outset. Since the last review of the
market appeared In these columns the Chicago
three card monte manipulators of wheat have
raised its value nearly ten cents and yet bushel
Of the golden grain is not worth to-day more than
it a week ago. it is possible that the players
had then forced it below its value. Be this as it
may there is one fact and a
hard stubborn one too for those
who expect cash wheat to go above dollar be-
fore the close of May and that fact is that the
mills are not buying largely and that here in the
greatest wheat converting center in the world,
the mills are not nearly working to their full
capacity and stocks are increasing their hands.
The flour market is reported dull in all parts OF
| the world and dealers only buy for immediate
use. One would think that Ii the prospects are
good for wheat advancing greatly there would be
those with money willing 10 take advantage of
| the present low prices in flour and invest their
capital in what must in such case prove profit
able investment. But we do not find this the
case, but on the contrary, spectators are leav-
ing flour alone-leaving it in the hands
of the producer for him to supply the
consumer direct. great deal has
been said about the decrease of
the visible supply, and yet very triing calcula-
ton which school lad of eightcouM make shows
that the decrease in the visible supply is not
nearly go much as that necessary for consump-
tion Another great fact is that foreign nations
are not taking our wheat to any extent, and do
during the past week 1875 quarters, or 423, 900
bushels Of native wheat sold at pound II s. Sd.
per quarler, 81 II per bushel against 81, 022
quarters, 48s,17e bushels Of last year at 2
pounds g. 0 d., or S1.26 per bushel during the
week wheat has declined in England &c. Small
as the decline is, sit shows the way the wind
blows The cause Of the decline is warm rains
and everything favorable. Crops which looked
little yellow have regaincd their color, and wire
worm has disappeared. The receipts and ship
ments Of grain at the elevators of st.
Paul for the week are as follows:
Receipts. Shipments.
Wheat ................ Is, 900 bu II, 800 bu
Oats. Observation-Disclosures. 1000 blu 3,70O blu
barIey .....''........'..''. 'Sa pu fSl Ou
Rye NIL Nil
flaX. .............., NIL hl
The railroad returns show 6S cars or 81, 500
bushels received, and 14s cars or "a 900 bushels
shipped. The st. Paul mills received about 49,
900 bushels by rail, and about 1000 from the
street. The mills have been paying for wagon
deliveries $4,000 per bushel. There is one fact
which greatly favors the farmers of this district,
and that is they have no rivals in the whole
world. No. I hard is produced no wnere but in
the northwest and so long as patent flour il
made No. hard will be in demand. The writer
was shown a letter yesterday from large milling
firm In Philadelphia asking for samples and
prices A splendid sample of Scotch fife wa.
sent the quotation being Sl.04. There has been
little no wheat sold here during the week,
the shipments being from the elevators of stored
wheat to the mills of the owners. Those who
have wheat are holding it for better prices
and buyers hold off for the market to 90 down
There has been good demand for corn merely
for the feed and meal mills, with receipts a
third less than the previous week; prices have
rated steady Dat. have sold principally for To-
cal consumption, not more than one-sixth of the
receipts been shipped to outside points. 10000
bushels were broughtin against IA, 900 of the pre-
vious week, of these 900 went to the elevator,
the remainder direct to the consumer The
shipments to outside points were equal to the
quantity taken from the elevators. There were
no material changes in prices. There was ma
teria falling off in the receipts of barley the cars
received being barely half the number of those
received during the week ending April 22 The
elevator received and shipped one car only, and
1850 bushels covered the whole extent of the
handling here: prices were. shade higher. The
shipment of -four exceeded that of the previous
week by Z cars only, the whole
volume of shipments was for local and
interior consumption, very little finding its way
to the eastern markets. There was a falling off
in the demand for feed by just one-third, but as
the supply has been for some time regulated by
the demand prices have been maintained. Hay
has been very scarce and prices frmer and high
er, 50 90 being asked for good baled All hay
shipped into st. Paul has been on orders and the
orders have sometimes been little delayed in
filing, probably owing to holders being busy get
ting in their crops. There has been considera-
BILE falling off in the receipts Of butter The old
stock of packing and mediums to have
been exhausted at last, and that which now
comes to market is new A great deal of this is
anything but choice it is, however, sweet and
sells readily at fair prices Prime buffers are in
demand at good prices. There does not appear
to be very much Of the old crop Of cheese left,
and receipts of new are not
ha hour
is not very fine quality; it is sour and poor,
owing, doubtless, to the cool weather; the de-
mand for cheese is fully equal to the supply and
prices are firm. There seems to be a growing
scarcity of prime hand picked beans but as the
demand is not urgent quotations are not affected
Bacon and hams are shade off. but under the
present state the provision market ruled in
measure as it is by the fluctuations of the grain
market it is hard to say how long present prices
will prevail There has been but limited bust
ness done in mess pork, dealers seeming to be
reluctant to buy with such an unsettled market
when an hour sufices to make a difference of
2Oc in the price. Dressed meats have been quiet
and fractionally easier; the principal landings
have been home slaughtered and it would seem
that the Kansas City men will have
shortly to confne their attention to
Minneapolis where the majority of meat
dealers handle it. The receipts of hides have
been very little larger during the past six days.
The demand is still good and prices firm. Brew
er's supplies have been very quiet and transac-
tons confined to local trade merely. Prices are
firm, Linseed oil is still firm with tendency to