St. Paul daily globe., 1884-11-22
Gaining an Eighth Of Cent on the
Morning Board and About Five
Eighths on the Afternoon.
Corn Loses Cent on Leading Options and
Provisions do Not Quite Hold
Their Own.
Wall Street Somewhat Broken Up by Kate
Cutting and Prices Lower
All Around.
CHICAGO.
[special Telegram % be GIobe ]

was tame with a lower close on most leading
articles except wheat. The latter improved
about &c on the morning board and in the
afternoon advanced quite sharply, making
total gain for the day Of 2S05sc on leading
options. Corn broke badly for November,
boing at the close lc lower than on yester-
day. while year was only &c off. Oats were
55@%c lower at the close, pork 2O9221zc
lower, lard a shade lower and ribs 12Ic
lower. The closing quotations in the after
noon were: Decem Der wheat 73c, November
corn 39%c, May oats 277sc, January pork
S1Os5 January lard $6.721< "a decline of
5c), and January ribs S5.57H.
Wheat was rather quiet and dull during
the first hour, but under fair demand,
chiefly from short sellers, an improvement
set in gt the end Of that time. Messrs. Lind
blom, Hancock. ct al. who are popularity
supposed to constitute the bull clique, wore
smiling faces as they observed Lester's
brokers and those of few other heavy weight
houses splitting their throats biddlgg for
wheat Nat Jones made a few quiet pnr-
chases, probably to fill outside orders, while
Stauffer, La Bogh and others were ostensta-
tious sellers. For the first time in two or
three weeks Mark Lane to-day reported 6
pence per quarter advance in California
wheat just shipped, although the report for
the whole market was inactive but steady.
Liverpool was zuiet as usual Receipts here
were little more of winter and less Of
spring, with less at Milwaukee and Baltimore
and more at Toledo. New York
early was nc higher and st.
Louis 1Sc lower for wheat. Exporters
at New York bought 1906 600 bushels yester-
day at the decline, while freight engage
ments were made for 44S,00 bushels of
wheat and corn together at Philadelphia.
The engagements included $4,000 bushels.
Reports from Kansas City continue to be re-
ceived, stating that the winter wheat crop is
very badly damaged by Hessian fy. Adyices
from the winter wheat growing sections of
Michigan and Illinois show a notable de-
crease in acreage. Spectators who want to
realize Immediately attach less weight to the
conditions Of the growing crop than to the
movement of the one already harvested. The
receipts are steadily increasing, and while
speculators are banking on lower prices,
capitalists and investors are slowly
coming into the market and taking
wheat with the intention of holding
until it goes higher. The main trading,
however, was speculative and January was
the favorite option. That month opened
steady at 7316c, sold up for 735Sc and at !
O'Clock stood at 1890. In the afternoon il
frmed up with the other options and at the
close was at 1890. November ranged at
71%@723sc, closing at the highest figure,
and December ranged at 721EC979c, closing
at the outside. No. 2 spring in car lots sold
at 72@7255c cash, and No. 3 at 56@57c. No.
3winter sold at 7314@7355c and No. 3 at
59%@611Ic. Hancock aud Young were
good buyers during the morning hours.
''Prices are so low everyw here,'' said Chas D.
Hamil, ''that a slight improvement in any mar
ket is enough to make short sellers anxious
here, but the general situation does not present
any new features. | think the marked decrease
in receipts at primary markets must precede
an investment demand of a permanent char
acter."
~ can see nothing that promises better re-
tuIn TO investors than wheat at about the present
prices said Geo w. Bacon, ''and while there
may be nothing in the immediate situation to
Justify an advance, believe it is sure to come
IN the future, and l look for very little if any
lower prices"
1.-The market has been dragging along between
720l73c for December for long time" said
another operator, "and the forces on Change
Bnd the facts outside evenly balanced that
neither side is able TO gain much advantage over
the other. Yesterday December touched 73kc
but il could not be kept there, as the increased
offerings brought il back to 721Sc before the day
closed. On the other hand, December has been
down twice near 72c, but it could not be- kept
here, because many buyers appeared Ii
would seem, looking at the whole matter from
IN Independent standpoint, that the chances for
an pptum are now better than for any further
lecline."
The Chandler Brown Co. say: "The heavy
average of receipts and consequent piling up of
Itocks has been the chief cause of the depres-
sion which has prevailed in this market. Our
advices for some time past have quoted a falling
oH in deliveries of farmers TO shippers. This
decrease should now show itself here. and we
think it will be the cause OF better prices"
Corn opened rather quiet at decline of
Nc for year, but the other options kept up
pretty well for while. There was, however,
lack Of speculative demand, weak holders
unloaded and these influences, coupled with
sharp drop in New York, caused break Of
about / 12c in November, which was freely
offered. About 10000 bushels were deliv-
cred on contracts in the afternoon, when
there was rally Of &c in prices, Year and
were slightly lower than yesterday, the feel
ing was quite steady at the close. November
Opene at 4019c, sold at 39H@403<c and
closed at 1890. Year sold at 36@363Le,
closing at 3614c. Kammerer WAS a huyei
early, but sold later and Schwartz q Dupee
were apparently bears.
Oats sympathized with the dullness in
corn, and there was some selling by parties
who have been rather heavy buyers lately.
The tendency was downward and the close
was steady at 2535c for November, decline
Of a6c, and 277Sc for May, decline of 9<c.
Mr.. Nat Jones and Geo. Baldwin, Jr.,
forced each other in the provision pit this
morning. A little later the news bows were
lifting up their voices in the alley and crying,
''All about the board of trade panic" This
information, coming fTom the news bows.
was as unauthorized as it was unfounded.
Mr.. Jones and Mr.. Baldwin sold some pork
and lard, but they are guiltless as far as any
panic is concerned. With the aid of two OF
three others they bought January pork all The
way down from s11.021(, where il
opened Sc off, to S1O.S5, its Lowest
uoint. They then turned around and bought
for while, when Mr.. Jones walked down tc
see what the wheat crowd was doing and Mr..
Baldwin turned his attention to corn. No
vast fortune was made or lost in the pro-
vision pit, and at the close things were a:
dull as usual with January pork weak al
SIC. .s5 and February J0c above it. Novem-
Der lard closed unchanged at s6.S5 and
January SC off at so.72H, while January
ribs tumbled 12c to $5.575< and stayed