St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-13
ARMOUR'S HAND.
Philip, the Great, Making it
Warm for the Provision
Pit Bears.
September Pork Makes a Three
Dollar Jump All on the
Quiet.
Spectators in Wheat Waiting to See
What the Other Fellows are
Going to Do.
Corn Takes Slight Tumble--- Dakota Oats
Growing in Favor With the
Traders.
Wall Street Irregular Western Union and
Delaware & Lackawanna the Strong
est Stocks.
Wall Street tIrregular--WesternU Union and
Delaware s. Lackawanna the Strong
est Stocks.
CHICAGO.
1snecial Telegram to the Globe /

CHICAGO, Aug. 12.-The opening of the
markets this morning found spectators
more divided in opinion as to the course
prices would take than for some time past,
and for the first half hour of the session a
large business was transacted, with but little
change in prices. Foreign markets were
quoted dull aud easier. Reports from New
York showed continued dullness. Receipts
were fair, and the weather all that could be
desired. The leading articles were higher at
The middle of the session, but at other times
an easier feeling prevailed. September
wheat opened and closed at 79c on the
regular board, and closed at 7S7sc on the
afternoon board. September corn did the
same on the morning board at 49&c, and
lost Nc in the afternoon, while oats fell sc
and closed at 245Sc. The provision market
was dull, except for short ribs, which closed
at S9.67H for September, gain over yester-
day of 45c. September pork went up from
$50 to $23, and closed at $3.50. September
lard closed at $7.45, gain of 719c
Wheat opened about steady with an un
dertone of weakness. Some of the local
bulls were free buyers early and there were
also some outside orders, but there was an
evident disposition, Notwithstanding this
fact and its cheapness, to jump on it. The
most active bear was Bangs, who threw a
few fives out as feelers at fraction below
the market, but there was good-siZed short
interest out, and all offerings were readily
taken. Hutchinson was among those who
were said to have sold heavily during the
early hours, but he is thought to have put it
out later. After the first hour the course of
the market was downward until about noon,
when the feeling became frmer and prices
showed a disposition to advance. The
cause Of the strength at this hour was the
posting of the visible supply, which showed
an increase Of only 1 ,654, 900 bushels instead
of between 1000, 900 and 5000, 600 as conf
denty expected Lester, Billy Murray and
others ale said to have covered in a big line
of shorts. September ranged at 7S3lQ1799lc |
and closed at 7STc.
Corn again followed closely the lead taken
by wheat The opening was steady at yes
terday's figures and trading was fairly liberal
at irregular figures. Receipts were the heavi-
est of the year-735 cars-whle the visible
supply showed decrease of O,0O0 bushels
where an increase had been expected. This
frmed up the market for time but the
effect was lost before l o'clock, when the
feeling was easier and the figures the same
as at the opening. On the afternoon board
drop of &c was noted.
Oats ruled easy and rather heavy The
biggest operator was Hutchinson, who put
out 800, 600 bushels of year at 2402415c, and
OIra a mil ~ of;
The close was easy at a decline of 16004c.
Dakota oats are growing in favor in this
market, and to- day Carr & Co. sold a car at
B6c, while our No. 2 white sold at 80 u 033c |
In the provision market rather more
strength was developed and higher prices
we're realized in all the leading descriptions
though extreme figures were not maintained |
to the close. Offerings on spectators ac-
counts were fair and the demand moder-
ately active The strength was chiefly due
TO lighter receipts and higher prices in the
hog market though the supposed corner in
ribs had something to do with the advance in
that article. Pork advanced sharply for
September. selling at $23 against $50 yester-
day. but fell off soc at the close. Year went
up 40c. Lard advanced 715c and closed at
S1.45 for September, and ribs had another
boom. The opening for September was at
N3S}5, and they advanced very steadily up
to 1 O'Clock, when they closed very strong at
1906. On the afternoon board they were
stronger and scored an advance of 215c
Cudahy Il Stevens were heavy buyers again,
and it is whispered that Armour's hand is
feltiu the deal.
Trading was q little slow in the cattle
market The lack of activity did not result
from any lack of demand, however, as there
was full representation of the different
classes Of buyers and q pretty general dis
position to buy, but the too firm views of
holders operated as check on active trad
ing. The light receipts seemed to warrant
holders in asking n further advance, and
they named prices 5@l0@l5c above Mon
days rates Buyers would not respond, and
consequently trade dragged along all the
forenoon. Sales do not indicate any import
ant change from Monday, though the average
of prices was a little higher Dressed beef
shippers were the largest buyers, they taking
anumber of prime droves. Butchers stock
was in scanty supply and sold as high as any
day recently, aud stockers were scarce and |
very strong. The run of range cattle
amounted to about 100 cars. The market
was again trile higher.
In the hog market trade opened early and
actively. Packers were hungry for hogs and
there was also strong shipping demand. |
The competition carried up prices a plump !
i0c, all grades sharing about equally in the |
advance. Much of the morning trading was |
on speculative account, but packers, as
usual, secured the bulk of the hogs. Packers |
we're very liberal. They exacted scarcely |
any shrink, while they bid big prices for lots |
In first hands and in tue hands of members |
Of the exchange, as an iudueement for them |
10 sell the hogs with the usual shrink, but so |
far as could be learned, rule 10 was not |
violated by any one bound by its |
provisions. The larger part of the good hogs |
were sold before 10 O'Clock and the feeling
remained firm TO the finish