St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-06-19
But Slight Evidence That
Anything Was Being
Done Yesterday.
Big Operatros in Corn Reported
to be Quietly Engineering
a Corner.
Conflicting Reports Regarding the
Condition of the Wheat Crop Neu-
tralize One Another.
Wall Street Has a Day of Dullness in Every
thing Throughout the List.
CHICAGO.
Especial Telegram to the Globe. !

opinion each succeeding day on change is
the dullest on record. To-day was no ex-
ception to the rule. Pork was neither quoted
nor talked about and wheat was not much
better. Early in the session wheat showed
some strength, but the succeeding hours of
the session demonstrated that there was moth
ing permanent about it as far us the days
trade was concerned. There was no feature
in it: There was no evidence that anything
was done outside of the scalping crowd
and the small amount which changed hands
among members of that faction would be
too small to deserve mention or the time re-
quired to look it up. The impression is
shared by good many large dealers that
wheat is low at present figures, and that it is
lot likely to go lower until the new crop gets
mere. Then even the bulls, many of them,
anticipate a decline. TIE most noticeable
thing about the markets was the strong posi-
ton assumed by corn, which lately has had
no individuality, but move up and down in
sympathy with wheat. 1t has been known
for some days that W. 7. Baker 81 Co. and
David Dows were buying corn. They did so
to day, and it is believed that their principal
aim is to freeze out some large shorts. There
is said to be considerable short corn on the
market, and the course of the article to-day
indicated that the bulls were working a little
campaign to bring it out.
Holders of wheat received no encourage
ment from the tone of foreign advices, the
frmness quoted on spot deliveries in British
markets being offset by demand if not
positive weakness in floating cargoes for
near and distant futures. New York quota
tions, although shade higher, failed to
show sufficient improvement to attract atten-
ton. Advices from the winter wheat sec
ton were conflicting, some repre-
senting damage from rust casued
by excessive rains, while others repre-
sented the condition of the grain and
extent of the yield fairly satisfactory and
that the weather had undergone change for
The better The outside speculative demand,
however, was light, shipping orders moderate
and the small advance secured early was lost
at the close of the regular session. July
opened at SS3lc, receded to 9S35c, at this
point rallied again on fair covering by shorts
and sold back up to the highest price, settling
off and closing at SS19@SS%c. On the after
noon session wheat was weak and, declined to
a close Of SS1lc.
Offerings of corn were moderate and specu-
lative, and shipping demand fair. The con-
tinued low per centage of contract grades in
the arrivals andthe heavy buying of two or
three big operators, with the apparent inten-
ton of causing a corner, caused an uneasy
feeling amoung the shorts, who covered more
freely, and in their anxiety to fill their con-
tracts bid prices up 19@35c on yesterday
last sales. July opened at 56%c, sold al
56$5@5715c, and closed on the regular ses-
sion at 565s@57c. On the afternoon board
weaker feeling prevailed and the close was
at 561lc.
Oats were quiet and showed little change
from yesterday. Speculative trading in fu-
tnres was moderate, shipping demand fail
and receipts larger. July closed at 325sc.
Pork was almost neglected. few trades
in settlement were made for June, July and
August at S19. .65, and for year a sale was re-
ported at $3.50. Aside from these trans
actions there was nothing done, and at the
close the prices named were the nominal
market quotations.
Lard was less active and scarcely a moder-
ate business was transacted. During the
best portion of the day the market in fact
was quiet, though prices were held steady,
and at the close stood at about yesterdays
range at 1 O'Clock. In the speculative
movement July, August and September
were the only futures that attracted any at
tention. July closed at S7.90@7. .9215.
Short ribs were in good demand for cash
but speculative trading was dull and the
closing 10c lower than at o'clock yesterday
or IS. 295I@S.3 80 for July.
The cattle market opened quiet and con
tinued slow until late in the forenoon wher
there was considerable squirt of activity
Big heavy cattle were slow, as there were nc
export orders, and values were generally re-
ported about 10c lower. Common grass cat
tie were more plentiful and they were gen
orally quoted 10c lower. Distillery stool
sold at previous prices as also did fair t.
good butchers stock, but old cows and lear
and scraggy bulls sold lower on account O
the big supply of Texans. There seems
better demand for stockers and breeders, bu
prices are ruling considerably lower thai
heretofore, especially on light, little stockers
The hog market opened rather slow, witt
sellers asking 5010c advance, and at thi
advance there were few loads sold in eacl
division to spectators. Regular buyers
however, held off, so that the squirt of activit
and strength only lasted short time. A
first the receipts were estimated at 25, 900
but it soon became apparent they were largel
overestimated. About the middle of tn
forenoon the market became very dull
Holders began to see that packers had beer
buying freely, about 1900 in tw
days, and were pretty wei
filed mp for the day. The1
the weather was hot and packers could moi
crowd their business. Yet, taken altogether
there was fair market and a general ad
vance of &c on nearly all sorts, the marke
closing steady.
The very light receipts of sheep begin tc
tell on valvues, as there is good deal NOR
strength and a more active inquiry this week
There are fair orders for good export sorts tht
buyers being willing to pay s5 per 1O
pounds for good, clean INBRED ewes O
others that are fat and will weigh 12O pound
and upward, 500 or 600 of such are Just nov
wanted, and any one having such lot ha
better communicate with some commission
firm if they are for sale at the price.
Mccormick, Kennett 81 Day say: 'FUnles
we have wet, unfavorable weather durin
the harvest which is just commencing. lowe
pricss will result. We advise caution in fo
lowing the short side of wheat at ssc, as an
serious damage to the growing crop woul
cause big advance. Outside orders ar
scarce and complaints of the dullness c
business universal. There is talk Of whes