St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-30
The Near Futures in Oats Fan Away Con-
NEUTRALITY-SUSPICIOUS. Continue Hope
lessly on the Down Grade.
Wall Street Trading Somewhat Irregular
The Omahas Lower-Best Prices
1t the Closing.
CHICAGO.
rsnecial Telegram % he Glons.

lower for November aud unchanged for
Nay. Provisions went steadily down
ward for want OF support,
and pork closed 71f@I21(e lower, lard 75c
lower for November and Sc lower for Jan
uary ana ribs Sc lower. Closing quotations
We're: January wheat 74sSr, November aud
year corn 35szc, November oats 255Sc. Jan
usry pork slO.s7J<, January lard s6.75,
January ribs $500.
The ticker carried the markets this morn
ing as usual, notwithstanding the fact that
the contest between the Western Union
Telegraph CON pany aud the board Of trade
was yesterday terminated at the request of
the latter. The marine grain aud stock ex-
change made the directors aud officers of
! board defendants with the Western Union
company. aud it is thought that these Off
cials will be arrested for contempt OF court,
which offeDse they would have committed in
case the quotations were stopped before
decision Is rendered in the injunction case.
/ II Is thought that the quotations will be sent
as usual and the bucket shop are in high
feather.
The wheat market opened firm, as is usual
Of late, with January &c higher at 751Sc,
and during the first hour fluctuations were
confined 10 &c either way About that time
large number OF teiegrams were received
on Change from Minneapolis, stating that
the mills at that point had decided to shut
down. IL was claimed that the elevators and
all available storage room at Minneapolis
were filed aud that over 1000 cars were
standing on the tracks almost blockading
the railroads. This wheat, It has been de-
eided. will be Immediately shipped TO Chi
eago. where 1t will be stored for the winter.
Under the influence OF this news the wheat
market was very heavy and most Of the oper-
ators wanted TO sell. Lester was in the wheat
pit, buying presumably for New York ac-
count The local sentiment, however, was
all on the soft side, and iu spite of q stubborn
resistance on the part OF the bulls, the mar
ket was sold off 1c from top
figures on all options, recovered
sc and closed &c below yesterday
al 732Ie for December, 743sc for January
and sl55c for May. Private dispatches stated
that there had been light fall of snow all
over the winter wheat region of the south,
and this has assisted in weakening the mar
ket- Liverpool was reported strong with an-
9th er advance of penny per GENITAL for Cal
ifornia club, and 2 pence per GENITAL for red
winter and American spring, which makes
total advance there Of about &c bushel for
our wheat during the past week, but receipts
here have kept up surprisingly and also at
other receiving points, and, as long as farm
ers are willing to sell at these figures, there
/ l.
| higher, especially as ocean freights continue
to advance and the export movement is not
heavy, even at present prices. 1t is not
surprising, therefore, that the market fell of.
! New York early was steady, and ST. Louis 7
| @5Sc higher, but both markets declined later
in the day.
Referring TO the firm opening, which has
been the case with wheat for a good many
days, a well-known hrm said: This firm
ness cuts no figures. 1t is entirely due to
influence brought to bear By small traders.
who sell al the first evidences OF a break
/ There is too much wheat, and nobody is go
| ing long on il who has the stamina TO stay
long long enough u induce any permanent
reaction. You can hardly find buyer who
does not sell out before the close. There is
nothing of a bull nature in that kind of trad
ing. 1t influences slight advance at the
| opening aud depresses it again at the close.
! No one need expect a permanent Advance
in the price of wheat until some Of the
heavy operators have faith enough in the
market to lend II their support by buying it
and holding it."
To-day Clifford, Bloom, Comstock and two
thirds of the crowd were buyers Of wheat,
and they were also sellers whenever there
was an opportunity offered to scalp point or
two, but generally it was poor day for scalp
ers, owing 10 the very limited range of fluc-
tuatious.
The sealping gentry. who favor corn as the
medium for the qualification of their ruling
passion. filed the pit about half full this
morning aud waited more or less patiently
for something to turn up. After awhile their
patience was rewarded in a very moderate
degree by the entrance of Crittenden, who
sold few small joys Of November and
broke the market point or two. small
trade sprang up in year corn, and such
traders as Kammerer, Love aud Champlin
expOunded with occasional illustrations their
/ bearish theories. Samuel Adams varied the
monOtOny somewhat by buying
in $4,000 or $4,000 bushels
of short corn, which action WAS about the
only evidence during the session that any
body imagined it was not quite safe to sell
the stuff short. The November deal ended
to-day, and when the few remaining bolders
Of that option, who had stuck TO It to the last
in the delusive hope that squeeze in this
option might develop at last, saw the fallacy
Of that belief, they dumped their loads,
which resulted in a break TO S55se, or &c
below year, from which there was subse-
quent recovery Of &c. This decline had
much 10 do with the weakness in the year
option, which closed sc lower than yester-
day at S5ssc. Orders for cash corn
from New York were said to be
on the floor this morning on the
basis of 47c a bushel, laid down there,
which would be about soc bushel here.
or course they were not filed. Our receipts
were much larger, but they were for two
days and the proportion was about the same
as heretofore. New York early was steady
on corn. St. Louis was &c lower for No
vember. Towards the end Of the session
there was quite little stir over the advent OF
Nat Jones, who bought $50, 900 bushels or so
of January corn at 34ssc. Shortly afterwards
he sold about 100000 bushels OF year to
Culver at 35c- Samuel Adams continued
his purchases Of short corn up to the close.
Otherwise the situation remained about the
same that it was early in the day, with g
generally bearish feeling all around.
Provisions were weak under heavy re-