St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-04-30
Corn Manifested Considerable Ner-
vousness in Sympathy with Wheat,
and Received Little
Encouragement.
The Market for Hog Products was I'm
settled and Irregular, Receding Early,
then Recovering Somewhat.
Wall Street Lively, with Lower Quo
tations, Union Pacific and Western
Union Being Especially Toppy.
THe Strength of the DaV Confined to st
Paul, NoTthaCester7a, Northern Pacific,
and the Coolers.
CHICAGO
Especial Telegram to the Globe. |

very nervous and moderately active, Dut
values being more largely controlled by local
influences were exceedingly irregular, the
fluctuations being more rapid than on any
previous day Of the month. Wheat showed
the greatest activity, and touched the inside
and outside figures, which were covered by a
range of 1A@135c, with unusual frequency,
but while the feeling was exceedingly fever
ish and the average price lower than yester-
Gay the market showed a wonderful ability
to absorb all the offerings that came on, and
the closing prices indicated an undercurrent
which many of the shrewdest of the opera
tors on the floor regarded as favorable for a
sharp upturn. Indeed the outlook as far as
surface indications are concerned favors an
advance, and though great caution should be
used in buying, the short side of the market
should be left entirely alone. The decreas-
ing stock in sight, the great anxiety shown
by exporters to secure offers of property, and
the very small arrivals at all primary
points favor higher prices. The corn market
also displays a fair degree Of strength and
the statistical position is improved by the
rapidly decreasing stocks. The receipts of
%, 600 hogs and the official announcement
of 1928 yesterday instead of the estimated
$4,000 caused a weak feeling in all specula-
ton articles of provisions and prices suffered
q decline at the opening, but closed steadier
The position Of the trade, however, offers
little real encouragement to buyers
Wheat was active, but the feeling was weak
and feverish. Early quotations from New
York were trifle higher, but the public ca
bles from Liverpool were less encouraging
to buyers, the quotations being unchanged
and business moderate. The opening of the
session developed an increasing disposition
among large holders to sell and the small
tailers also followed suit Opening sales
were 5S034c under yesterdays close, being
95Ac for June, and under heavy realizing,
including a considerable amount held by
outside parties, who were disposed to unload,
and a good many large blocks held by the
heavy bull operators, who were supposed to
be anxious for severe break on which to
buy larger lines, prices quickly receded to
9414c for June, when active buying caused
an advance to 9519c, but increased
buying sent prices back to
94Ac, and, after repeated fluctuations,
DClhCGIl or anu ullC SlOoCu Oll CAlduSC
at $685. sc. May sold about 1c under June
and July frequently touched the same figures.
On the call wheat was tirmer, and advanced
to 9514c for June but on the cash a weak
feeling prevailed, and the June option closed
at 942(c, with May 214c lower. The visible
supply as compiled here and in New York
closely correspond and show a decrease of
over 100000 bushels. The fact that those
who hold the bulk of cash wheat here have
notified the banks who have advanced money
on it that the grain will be delivered Thurs
day induces many to think that the delivery
of such large amount Of cash property will
severely depress prices. The fact, however
that very little money has been asked for to
carry the wheat justifes the conclusion that
it will be quickly taken by parties who are
scarcely known to the deal, but who are
amply able take the wheat and put it away
Corn was moderately active, but the vol
ume of business was not so large as on yes
terday, and prices were very unsettled, fol-
lowing wheat in its fluctuations up and down
The feeling was also very nervous and the
opening a shade under Yesterdays last sale
or at 591lc for July. From this point prices
Eeceded to 5Sc on free selling by longs, some
of whom had previously bought on the
strength of wheat. When wheat advanced
corn rallied to see, but closed on 'change at
5S15@5SMc. On the call corn was steady,
but on the curb it was weaker, declining "a
0915c. There was less demand to cover
shorts, as very large lines were bought yes
terday, but it was thought there was con-
siderable buying in a quiet way to hold, and
the shipping demand for low grades was ac-
tive. The visible supply was reported to
show decrease of 2,6OO,O0O bushels since
last Tuesday.
The market for oats opened firm, with fair
speculative trading, and prices advanced &c
% 15c over yesterdays closing, but the mar
ket was governed by corn, and when that
cereal broke oats also ranged lower, declin-
ing 1Ec 90 1lc from outside prices. After
this the market became quiet and steady,
reacting so as to close about the same as
yesterday. The visible supply shows an in
crease of 159, 600 bushels over last week.
There was fair degree of activity in the
market for hog products, but the feeling was
unsettled and nervous during the greater
POlIlOll VI anu pI1CCo huCGudGCu SOn-
siderably. The receipts of hogs were liberal
and prices ruled lower, which had tenden-
cy to increase the speculative offering of the
product early in the day and caused mark
ed reduction in prices. Later the feeling
was stronger again and the greater portion
of the decline recovered. The shipping de-
mand was moderate and chiefly in the way
of filing small orders
Pork was unsettled and prices irregular,
offerings being rather free at times, and the
demand not particularly urgent. At the
opening prices were 1O@15c lower, which
was followed by further reduction of 100
15c Later a firmer feeling prevailed. and
prices rallied 25(930c, but soon settled back
again 1O@121Sc and ruled comparatively
steady.
Lard was fairly active and prices somewhat
irregular within a moderate range. Specula-
tive offerings were rather free and the de-
mand fair. The market opened easier, and
prices declined 5010e early in the day, but
rallied 5@715c, and ruled comparatively
steady to the close.
Only moderate business was reported in
the market for short ribs. The market was
easier and prices averaged lower. The de-
mand for shipping account was very moder-
ate.
The fat cattle trade was fairly active and