St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-06-20
Leading Longs Free Sellers Of
Wheat, Shorts and Scalpers
Buying Sparingly.
Corn Weak in Sympathy With Other
Markets, Closing Tame With
Little Trading.
Wall Street shaky, Lake Shore, New York
Central and Northwestern Leading
the Downward Movement.
rne Commodore Garrison Affair Produc-
ing a Depressing Effect All Along
the Line.
CHICAGO.
Especial Telegram to the Globe.

Especial Telegram to the Globe.
CHICAGO, June 19.-Weakness and dullness
sum up the situation on change to-day. Trading
was very moderate, and all speculative articles
were weak at a lower range of prices. There
was in fact nothing in the general character of
the reports from other markets to encourage
buying, and the situation aggravated by
further severe break in stocks, accompanied by
reports of additional failures in New York.
These reports rendered operators conservative
in their movements, and there was general
disposition to 90 slow. The shorts were also dis
posed to give distant futures the preference, the
steady reduction stocks of contract grades of
grain rendering those who have contracts for
July wheat anxious to transfer them sufficiently
far ahead 10 enable them to fill them
from the crop, many of them fearing
that the stocks Will soon be reduced to volume
that will enable the bulls to give the shorts
sharp twist, provided they would get full prices
for near futures But the chances for such
turn in the market are materially lessened by
the rapidity with which the contracts are cor
nered when the bears see the slightest chance
against them. About the only feature in to-day's
business effort to break the provision
market. During part of the session quite a
lively trade was done in ribs and lard. Nat
Jones is said to have sold large quantities of
these articles for the sole purpose of bringing
down prices Whoever it was their success was
not very marked. slight decline resulted in
the articles named but pork remained steady at
about $3.50 for July
In the wheat market the free outward move
ment of the grain compared with receipts
about the only sustaining feature,
cables quoting English markets dull and weak,
and New York advices showing a shade lower
Drces The demand small outside of buv-
ing orders being light and market from the open
ing TO close was languishing and the feeling
heavy. Leading longs were sellers, and among
them being Lester, Schwartz Spruance, Orr,
Dews and Mccormick, Kennett & Day, while
shorts and scalpers bought in small lots. July
opened at S72Sc, sold down to S7hc, up to SS75c C,
and the declined to 81 2sc, and closed the reg
uiar board at ST2i @S713c. Ira ling the after
noon board was the largest of the day, the longs
unloading freely. The feeling was weak and
July declined to a close of S64c.
Corn was quiet and weaker, mainly in synpa-
thy with other articles, and in response to un-
improved foreign and eastern quotations. July
opened at csc, sold up to $3.50, again weak
ened during the last hours of the session, and
declined on fair offerings to 5614c, closing tame
at that figure on the regular board, and at sc on
the afternoon board.
moderate volume of trading, and offerings fair,
the arrivals again being large.
Pork was dull and nominal and ouotably 1Oc
lower on the regular board, and sc lower on the
afternoon board.
Lard was weak under free selling by longs,
who were not disposed to hold longer in view of
the present large production, and moderate de-
mand for consumption. 1t opened 10c lower at
1924 for July, weakened on free selling, which
failed to meet responsive demand and closed at
7.60@7 .621s on the regular board and 1Oc lower
ON the afternoon.
Short ribs more active and declined 22H
@25c on the regular board and 1O@121sc addi-
tional in the afternoon the last quotations of the
day being at S7.971s for July and $50 for Au-
gust, against $3.50 and SS.42H respectively yes
terday.
Under the light receipts and better order de-
mdnd for shipping cattle, the market generally
ruled active, and prices were strong 1Oc pei
100 higher on the best corn fed CATTLE regaining
all the loss of yesterday. Grass cattle also sold
shade stronger, and butchers stock was in
good demand. There was a fair movement in
stockers and feeders but light, little stockers
selling at low prices. Range cattle continue
to arrive freely, about so cars being on the mar
ket.
The hog market opened and ruled rather quiet
4 few early sales were made at about yes sterday's
closing prices, but later there was general de-
cline of strong sc per 100, many lots selling
DC lower, and at the decline there was only q
fair demand until the down town markets opened
Then there was considerable activity There was
a good demand for all the fresh receipts, with 9
slight advance on the best.
j. W. Ramsey & Co. say: s'We are inclined
to look for easier markets unless some shipping
demand turns up
W. II. Minor 6 Co. say: 1--WE cannot see any
thing to change wheat at even the present prices
and it looks considerably lower. Reports from
the growing crop continue most favorable, and
within six weeks we have every reason to looI
for a liberal movement of the new crop. We
consider the deferred options in corn safe to sell
at about present prices. We cannot see any
good reason, with splendid crop prospects before
us for year selling at 1870 and September al
5714 or about Sc premium. 1t also strikes US,
with low prices ofwheat and oats prevailing, and
without serious damage to the growing crops
that 40c would not be considered high for year
corn