St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-04-16
Provisions Touched with Suspicious
Delicacy, which Suggests Man
IpulatiOn.
Purchases by the Shorts in the Last Hour
Save Wall Street From Demor-
aliZatiOn
CHICAGO.
Especial Telegram to the Globe. !

dealt in for future delivery were very irregu-
lar. Provisions showed a decidedly lower
average, although closing at highest prices,
while grain, which declined at the opening,
rallied ana closed at material advance
Wheat was Is usual the leading article, and
the recovery from the lowest prices was
rapid.
There were numerous sustaining influences
to the grain market, and there is very
large class Of operators, both on and off the
board, Who think that prices are lower than
are warranted by the surroundings, and such
parties are ever ready to back their judgment
with money when the slightest inducement
is offered, and such encourag ment was not
wanting to-day.
On the provision side, however, there were
few features Of a sustaining character. The
receipts OF hogs we're reported at 800 head.
against ., ~ yesterday. Prices were l552Oc
lower, the quality better, aud adyiccs from
/ the interior justife- tAe prediction Of MI
tcrial increase in the supplies at thc opening
OF June, and the shipping demand for all
| classes Of packing house product. was very
small, hence there vas little to warrant con
fdence in pork, Lard or meats for future de
livery, except to cover short sales.
Wheat was by saE the most active specula-
tive article dealt ia for future delivery, and
with the exception Of an absence Of shipping
demand the factors calculated to influence
| prices were largely in favor Of an advance,
the chief sustaining eature being the small
receipts, only fourteen cars being inspected
! during the last twenty four hours. The stock
il store showed arcduction Of 800, 900 bush
els since the publication Of the previous
weeks report 1t MAS given out that the
consumption ana foreign imports since jan
uary showed an excess over the receipts at
! the leading ports for the same time of IS
/ 0g0. 000 bushels OF wneat'and wheat in flour
Those who have been figuring on the
situation estimate tiat there is a short
interest Of G1,000,000 bushels. The
weather was ais9 unfavorabje for spring
/ seeding. Private cab~,o - received quot
inc an advance of II per GENITAL in Liverpool
at the open n, however, there was feeling
of distrust, and prices soon receded re, but
there was an active luyins to cover shorts,
and this with free taNngs by heavy bull OPP
/ orators, quickly sent quotations up to the
first sales, when they again fell to the lowest
| figures, which induced very large buying,
and prices rapidly rose until an advance of
! l Is was cured. The extreme range for
May was S33s@S5Ac, closing on change at
S5Bc. On the cali, under free selling,
prices declined Sc, while on the curb there
was a further decline Of Sc. June ranged
| 1MM2c above May, and closed at 8715c on
change, and at SG3lc on call and curb.
Corn opened weak, and early sales were
made at slight decline, but as the day adj
yanccd a stronger feeling was developed,
and although the volume OF trading was only
fair, prices appreciated 1c and the improve
ment was sustained at the close. The
strength, however, was largely due to the
improvement in wheat. Opening sales of
No. 3 were on a basis of 49340491%c for
| May. From this point in symathy with
wheat, prices declined to 4S%9l49c, but the
decline caused free GOVERN by the shorts
and fair amount of buying for a scalp by
the longs, who regard the grain as being
e. cap. Prices steadily advanced to soc, and
closed ON Change at 495s@50c for the May
option. On the call there was free selling.
and prices declined &c. The inspection
showed 2G4 cars, Of winch IS were contract
grades The stock in statc exhibited an in
crease during the past week of $4,000 bush
els.
Only moderate speculative business was
done in oats, which opened quiet. but the re-
ceipts and offerings were both light and prices
appreciated sc, opening at 32G32 sc for
May and closing on change at 32$Ic, while
On the curb prices ruled i higher.
In provisions the market ruled active but
was irregular and lower Based on yester-
days last quotations on Change pork at the
close showed a decline of 55lu40c 1t was
fairly active in speculative way, though at
the opening, when the feeling was weak, the
movement, in fact, was quite slow, but dur
ing the latter part of the session business
was characterized by more life The feeling,
however, was unsettled and prices were cas-
Ter. The lowest prices OF the day prevailed
early and the highest shortly before the close.
May closed at $16.77@16.S0. On the call
pork advanced 50715c but this strength was
subsequently lost on curb transactions.
Lard though stronger than pork relatively
was easier than on yesterday. The decline
from yesterdays closing prices was only So
| 715c. Trading was very fair, the greatest
activity as in pork, being shown during the
latter part of the session. Cash lard was gen
orally quoted at the ruling prices for May.
May opened at S. sold up to s8.25,
| down to SS.171l, and finally ub to $3.50, at
which point it closed, Lard was steady on
call, butWas easier anu declined 219c on the
curb.
Short ribs were in fuir demand for cash,
but were weaker in speculative lines. May
closed 15c lower than yesterday, and June
1715c lower. On the call prices were steady.
Mimine, Bodman & Co. says 'sThere is
marked increase IL the outside buying
orders now, and the market begins to look
stronger all around and we think it is in
condition to be bulled easily. We are about
ready to conclude that this wheat is unsafe
| to sell short except on extremely short
bulges and at the same time it is quite safe
| to buy GU the breaks. Bat the general
situation has not materially improved.
Walker, of New York. estimates the decrease
in the visible supply for the week will be
| 100000 bushels less that the week pre-
vious, and this is by ito IneaIs encouraging
to holders. We thipl there are speculative
influences at work BOW that are liable to
give Us sharp advar &c, but ultimately we
think prices must sell lower than we have
| yet seen Them
Crittenden & Harvey say: s;We believe
it safer to work along on the BUYER side
of the wheat market, but at this advance
hardly believe we would buy, although the
market acts as if it might be pushed 1c or so
higher in order to force the shorts in. We
may be al wrong regarding the market
value OF corn, but believe current prices low