St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-09-06
Evidences That the Shorts Will Be
Badly Squeezed in September
and October Deals.
Europe VIII Take About Her Average
Supply of American Wheat and
Flour, at Low Prices.
An Optimistic and Bearish View of the
Prospects of the New York
Stock Market.
CHICAGO.
Especial Telegram to the Globe.1

corn, which was again active and fulfilled the
predictions made in these dispatches as TO an
sdvance-based on un active consumption and
inadequate supplies for this and the next month
the trading was of the same listless character
noted yesterday. But for the increased yigor
in corn, and the advance which il recorded, sell
of the leading articles would have been com
PEELED to accept still lower prices than were re-
ported. As regards corn it still looks as il the
small supplies and the continued active demand
point strongly TO still higher figures for the old
stock in sight and to come forward, and the ad-
vance made to-day on futures, TO be filed from
the crop now growing, is evidence that they are
likely to sympathize TO a certain extent with the
prices for this and the next month.
Wheat offers very little encouragement
to buyers for an advance. Shippers for high
grades scarce and entirely Indifferent and the
advices from Europe fail to indicate that early
shipping demand can be looked for from that
quarter. But while the outlook offers but little
induccment 10 buy for an advance, short sales ap
pear equally hazardous except when made on
bulges for a scalp Oats were dull, with no
terial change in values, and provisions were in
active The closing quotations for the October
options were: wheat S01s, the same yester-
day; corn, 52H, lac higher; oats, 261s, &c
higher; pork SIS. 80, unchanged; lard S7.45, sc
lower, and ribs S9.97, ~ lower.
Wheat mas again been very dull, the fuctua-
lions Of the day covering about &c, with no inn
portant changes to note in the situation. Trading
still continues almost altogether local, outside
orders being very scarce and with other mark
cts dragging along about as inactive as our own,
there present indications of any material
change. Opening prices were about &c under
yesterdays last sales, being a basis
of soc for October, and declined under the
influence Of bright weather and unfavorable
European advices-a decline of GG9d per quar-
ter being quoted in Liverpool and London. At
this time hutchinson a free seller. Then
.he fTmness of corn began to effect wheat favor
ably and slight recovery took place, Carr & Co.
selling about $50, 900 bushels on the bulge. When
the shorts had covered prices again sagged off
and closed at SO1ac for October and size for
November.
The results of threshing in the United King
dom haye, in many instances proved disappoint
ing, as although the yield is still estimated as
better than the average, ii does not come up to
expectations. In France the yield is scarcely up
to the average, and that county is expected to be
buyer of from 90 to 75, 0O0, 900 bushels of grain
In Austro Hungary, where the reports have been
more discouraging than from any other European
country, the yield has turned out better
than WAS expected. The surplus avail
able for export is estimated at about
100000 bushels. Russia will also
have a surplus, but the harvest there is very I'M
even and in some districts wheat was a failure,
but in the best cultivated and best producing
areas good harvests have been realized. In Ger
many wheat and rye fair yield. The late st
estimates place the amount of India wheat avail
able for export at 4S,OOO,OOO bushels, or about
100000 bushels more than last year. Taken
u whole, the indications are that Europe will
need TO import a full average amount of wheat
and flour.
Corn was very strong, with good shipping de-
mand, charters having been made for S37, O0O
bushels to-day, of which it is said about 200 0OC
bushels are Of No. =. The continued shipping
demand has caused some excitement among short
sellers and the demand to cover September and
October contracts caused q sharp advance. Pros
pective receipts offer no encouragement to those
whose necessities will compel them to make pur
chases in this month or the next, though the large
premium which has recently ruled for cash prop
erty must have the effect of stimulating ship
ments of all available corn TO this market during
the present month alt looks said George
Brine, las if sales of corn may prove very dis
astrous, as the stock of No. . available for filling
OF contracts must then prove very limited.
The shorts are now pretty well satisfied OF the
existence of corner on corn, for whenever they
attempt to buy it in any quantity the marke
starts up on them and they fail TO get much
The opening was quiet at Is @ sc decline from
yesterdays closing, but almost Immediately re
sponded to a demand from October shorts, tina
option advancing z c on heavy purchases by Nc
Henry, Baker, Schwartz and Dupee, Poole &
Kent, Bloom and others. 1t is noticeable tina
present sellers of corn parties who have here
tofore been industrious buyers, such Brown
Parker Caruther, Pickering, Mimine, Bodman &
Co. and others.
This last named firm made about the heaviest
deal of the morning by selling Sherwin 100,0 900
bushels of October at 52Lc. The September
option also very strong on talk OF deal, anC
one Of the features of the market was tht
strength shown by November. That option ha
been weak for some days past but under gooI
buying for long account advanced sharply to-day
and September opened at 53s c, sold up to So Is
with rumored sales at 5514 c and closed at 55c,
gain of sc. October opened at 5OAc, drop
to 521s on the morning board and closed on the
afternoon board at 52Ec,an advance over yester-
day OF 1l.c. November closed / u higher al
I6izc.
Oats felt a little sympathetic strength from
depressed, with good line of buyers ready tC
enter the market when prices come down to wha
they consider reasonable figure. September
closed at 2Gsc.
There was little more business transacted IL
the provision pit early in the day, but the feel
ing was weak and unsettled and prices rulet
lower on al thu leading descriptions. Later thu
market steG3ier and prices rallied somewha
but ruled quiet to the close. Foreign advices in
Dictated an easy feeling in that quarter. and Iiy
erpool quotations reduced Cd on lard an,
bacon. Eastern markets were quiet and price
steady, and receipts and shipments were moder
ately fair Nothing doing in pork and price
were unchanged except for year, which 90
over, being quoted at S12. Lard was traded il
moderately, but prices ruled 1OG15c lower earl,
in the day. Later they rallied somewhat ant
finally closed steady at 81 As for October AM
$40 for November, loss of sc on the forme
option and 21Ec the later. Short ribs were il
light demand and prices ruled weak, and SOLO
lower, the closings being at S10.12H for Septem
ber loss of SC, and at S9.971f for October,
loss of nc.
Receipts of Texans and territorial cattle abou
200 cars, of which over 100 were through Texans
The demand was not as active as yesterday, an
the medium and common sorts. either natives o
rangers, were a strong 1oc lower. but the bes
either natives or rangers, sold as well as any da
this week. Shippers and dressed beef dealer
paid s.. 90 to .25 for the best Texans, but car
ming and light sorts were slow at the declin
noted above. The quality and style of the teri
torial stock was not up to the average and sol
rather slow. Range cattle are selling at abor
following: Texans. SS.6O9S4.5O; Wyoming
s4aoGS5. Is; Nebraskas. 81 .50GS4. 20; Color.
dos 81. 000S4.1o; Montanas, S4.000s4. so; ha