St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-13
STILL BUOYANT.
The Chicago Produce Markets
Continue to Show q Gain
of Strength,
And Operators Talk EncOuragingly OF
Decreasing Stocks and In
creasing Demand,
But the Financial Situation is Only Favor
able to Regular Bank
Customers.
Ugly Rumors About Wall Street Regard
ing Gould's Situation, But Credited
to Gould Himself.
CHICAGO.
Especial Telegram to the Globe

the same as the opening. and this notwithstand-
ing a number of causes which a week ago would
have lowered prices materially. Among the ad-
verse Influences were the reported failure of a
I heavy dry goods house in New York and com
bined effort on the part of the bears to effect a
continuance of the downward course of the grain
market. In the provision pit things were quiet,
| with what little interest there was centered in
lard and ribs, but the days business all around
was less than any day this week.
AS to pork, prominent broker said to-day
SIT isn't the general public or the poor laboring
man who has to stand the racket of this corner
in pork. 1t is the scaper and the small fry
generally who have to pay $22 barrel for stuff
they never see. The laboring man can get all he
wants for SIS. Do you know why? Well, its
because Phil Armour and the rest of the gang
know that he won't bring it back here to SELL
| Wheat was moderately active and prices irregu-
lar, being firm and higher early, and then break
ing off, but at the close August was Nc higher
than yesterdays last sales, and September &c
higher. At the opening there was fair demaud
and prices ruled strong and somewhat higher,
but later news was received of large mercantile
failure in New York, when prices began to
weaken and fell off 1850 from the highest
point but rallied &c again, eased off and after
some fluctuations closed firm at about the open
ing price. September opened steady at s4hc,
advanced to S45sc, fell to S3ss and finally rallied
and closed at sS1sc There were no large deals
reported and with the exception of small out
side trade the scalpers did all that was done.
Reports from different grain centers show q
much improved export demand. From Milwau-
kee it is reported that $4,000 bushels of wheat
were taken there to-day for export. Baltimore
follows with $4,000 bushels, New York with
100000 and Chicago with about $4,000, making
an estimated total of over 100000 bushels.
81 don't care what the other fellows told
YOU" said member of the board to-day, s'bu1
in my opinion there is to-day better export de
mand for wheat than we have had for three
years. During the last week 100000 bushel:
of wheat, including that afoat, has gone over te
Europe. am told by good authority that by
the end Of the week there will not be in New
York more than 300, 600 bushels Of red winter
wheat for export. The stocks in London ant
Liverpool are low in proportion On July 4tf
the combined supply of wheat in London ant
Liverpool did not exceed 100000 bushels. Now
with such figures before you, and the fact tina
the new crop throughout the country is in NJ
condition to be marketed, how are you going tt
I manufacture bear argument?"
Corn was fairly active but prices were gener-
ally lower than yesterday afternoon. The open
| ing was apparently firm and sales were at some
advance over yesterdays closing, but the de
mand soon fell off, the shorts having apparently
pretty well cornered during the past few days ant
bought sparingly to-day. The reported failures
in New York and the consequent weakening il
wheat brought corn down and August fell a q
~ from the highest point, then rallied some
again, eased off and closed quiet easy at SO
for August and 51X C for September.
Oats were more quiet and easier, prites ruling
steady for the day with speculative
trade slow and few willing to operate
The pork market was quiet but strong, Jul,
and August closing at S22.5O@23 90. or So
higher than yesterdays quotations. Septembe
and October were unchanged, the former being
quoted at SCI so bid and the latter at $40. so
Year pork ranged at S12.00@1225.
Lard was less active; trading was in fact only
moderate, and good share of the days bushes
consisted Of transferring outstanding trades from
August to September. August closed at S7.17h
and September at $732H.
Short ribs were in fair request for cash and fu
ture delivery, and closed at $3.50 August ant
S7.S71a September.
There was brisk demand for all the goot
droves of native fat cattle and they sold quick a
equally high prices as for any day this week ant
perhaps in instances higher. For really
good corn fed cattle the market closes strong fo
the week and fully as high as last Saturday
Grassy stock is also shade stronger than las
week, yet this sort of stock is hard to sell at any
time. There has been large increase Of Texans
and they have gradually declined, dropping 1Oc
+ to day, making the decline ON the ordinary rur
of Gamers 15@20c for the week. There is
fair business in stockers and feeders, but lean
little things are selling at low prices Old cows
common bulls and the lower grades Of native
butchers stock went again lower, making the
decline for the week equal to 100000. Gamer.
and butchers prefer the Texans that are now SC
plenty and comparatively cheap.
Receipts of hogs for the day rather heavy, fol
the last in the week, and for the week show
large increase over last week. Owing to tn,
Continued differences between the packers ant
the commission men as to the manner Of buyinl
and selling, business is not running along al
smoothly as formerly and to-day's trade was rath
| er slow, prices uneven and the general marke
unsatisfactory to all concerned.
Hammill & Brine say: "Continued Favorable
conditions for the winter wheat harvest now il
|
grain market, and local operators have, for tn
most part, been disposed to reduce their tradinj
to a minimum. Conservative dealers recognize
in the current value Of wheat price much lowe
than has been reached at any similar season 70
the past twenty years, and with freights to tn
seaboard considered, very much lower pric
than has ever been known in this or any othe
primary grain market in the country. The mos
l. heat nf fho b.,r<
unsecured, they feel that any tim
; very sudden and radical change nigh
occur in favor OF holders; all thu
contingencies Of weather yet before us; Will
should the present promise Of crop of exceilen
quality be fortunately realized. it is certain tina
the demand will be good. both for export an,
consumption, at prices relatively higher thai
those obtainabIe for the inferior grades of tn
present crop now in seaboard warehouses. w,
can therefore reiterate our previous opinion, an,
svy that while from the absence of activity incl
dent to the summer months, or from temporar
depression arising from spasmodic financial dis
turbances, values should still further recede, w
feel that purchases made about the presen
range will pay well, and advise careful buying o.
all weak spots.
s.Corn has wildly fiuctuated during the week
Lower prices na'ing fuieu carry IN the week fol
lowed by almost entire recovery. There is n
especially. new features to note, the demand a
heretofore, keeping pace fully with the supply
shipments having exceeded receipts during tn
past week about 200, 900 bushels. Crop report
continue favorable and the situation, as com
pared with that of last week may be regarded a
unchanged; We feel that present prices ar
likely to be maintained for some time to come
the extremely light supply at all principal point
rendering any permanent decline improbable be
fore the coming crop is finally received in q
good condition and with as favorable yield O
the present outlook would lead US to expect"
.sProyisions-Tbe advance in mess pork, whic
took place on Monday last, and which has sine
| bsep fully maintained. exercised q siuilsr In