St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-16
The Usual Saturday Tactics of
Scalping and Evening
Up Deals.
The Belief Growing Day by Day that
the Bottom Price Has Been
Reached in Wheat.
The Suspicion Still Exists that Corn is Manip-
ulated-Provisions are Quiet and
the Feeling Easier.
General Break in the Clique Stocks,
Uuion Pacific and Northwestern
Leading the Downward
Movement.
Chicago.

CHICAGO, Nov. 15.-The board Of trade
markets were weak to-day and the feeling
was easier, the close generally being lower.
The report Of the failure of Spartell & Co.,
grain merchants. Of London, for IS, O0O, 900
had depressing effect. and there were more
sellers than buyers. Wheat closed &c lower
| at SIC for December. Corn closed I'M
changed FOR November. but &c lower for
year at 37I<c, and oats closed &c lower at
2ssle for May January pork closed 21<c
lower a. sll.s5 for January; lard exc lower
for January at s6.s7j<, and rits exc higher
for January at IS .s71<.
Mr. Nat Jones, who has lately returned
from New York, says that In his opinion
there wiz be no change for the better in the
grain trade Until business generally i'm
proves. From his observation In the east
and here he sees no indications for per-
maDent revival Of trade until after the pc
riod Of dullness which always follows the
holiday season. By that time the visible
supply wiz probably have reached its maxi
mum and bull operations will not be con-
sidered quite so hazardous.
Wheat was the most active article on the
list, but the feeling throughout the session
was weak, owing chiefly to the large grain
failure mentioned above. The opening was
Sse lower, and prices went down &c more,
showing decline Of nearly lie from yester-
days last quotations. For the past few days
there has been pretty heavy buying ofwheat
for the long account both here and in New
York, but some Of this was sold out this
forenoon. New York parties, however, say
they are going TO hold on, believing in
higher prices for the future. Liverpool
reported more inquiry, but Mark
Lane continues dull and inactive.
Receipts here were less Of winter
and more Of spring, with less at Toledo,
Milwaukee and Baltimore. New York early
was steady on wheat, but st. Louis was &c
lower. The visible supply in the United
Kingdom for the last six weeks is said to
have been reduced 2, 900, 900 bushels, while
over 81 per cent. Of the present amount on
passage thither is from this country. This
looks as though the general wheat situation
Of the world was slowly improving as regards
excess. Unless present holders lose heart
and faith aud sell ont, prices viii not be
likely to 90 much lower, as the steady con-
sumption Of the world from week to week
win soon begin to tell on the supply.
The receipts of wheat are so large here and
at st. Louis and elsewhere that bulling prices
is hard work. The big traders are apparently
going on the assump tion that the range of
fluctuations will be narrow for a while. Last
night Ream was selling puts on December,
but Offering to sell January. The trading,
however, in privileges is not what II used to
be. The spreads are now so small that it is
not likely to increase much. November is
very dull, closing at re. December opened
at 735Sc, sold at 7314@T3JSe and closed at
734@73ae. January opened at 745lc, or
&c under Yesterdays last sales, gradually
weakened and settled with slight fluctuations
TO 74e and closed at 74l97411sc. No. spring
sold at T21l@72s<c, No. 8 at 561<@571<c,
No. 2 red at 73Cd731<e aud No. 8 at 6O@6lc.
There Is growing confidence in wheat" said
| G. :. Eyeringham, "not only here bnt in other
markets, and Toledo. for instance. has advanced
about Sc while this market advanced Isc. This
looks TO US Ike n healthy sign. Everything pos
sible has been used 10 depress wheat, such as
large receipts, limited demand, the consequent
increase Of stocks and general stagnation in all
branches OF business, caused by the unsettled
state Of political affairs. After and pro-
I
for Is clearing weather"
Corn was depressed BY increased receipts,
fine weather and an absence of speculative
or shipping demand from outsiders. 1t is
supposed that the November deals are pretty
well closed, and the increased arrivals encour-
age those who short for year and longer deliv-
cries to rest easy, believing that receipts will
become larger as the year advances and that
prices will shrink as stocks augment. AS TO
the trade, what there was of it, there was
little besides scalping and it was very bear
ish. A. NJ. Wright and one or two others
made some small purchases aud Baker,
Baldwin, Chainplin aud two-thirds Of the
crowd were sellers In intention at least No
vember was weak aud dull, opening at 42Ic,
sold At 421<@43e aud closed at 49S64Sc
December sold at 3T5s@3S5sc and closed at
3TS[GSTKc. Year was the most active
future dealt in, opening at 3s9sc, sold at
3T5i@3s5sc aud closed at s7%@37Kc.
Oats were duh, the decline for the day
amounting to &c. "Huieh'' took $4,000
bushels of May at eSJsc and Press took 1O0,-
600 bushels at 2S5{c, which was the closing
hgure FOR that option November closed
at 26c.
Provisions were quiet and tue feeling cas-
Ter. Spectators were not inclined to do
much business and shippers were favored
with but few ORDERS Foreign advices
showed a further decline Of l5c in bacon,
and EASTERN markets were quiet and steady
Pork ruled 5alOe lower aud closed 2<c
lower ST S11.35 for January and Sc lower ct
Sl1 rs for February. Lard vas dull aud
closed 2l{c higher for November at S697J<
and 21Sc lower for January at S6.S7L.
Nothing was doing in ribs. but prices at the
close were nominally 2,{c higher at S5.sTL
for January and SC higher at s5.975< for
February.
At the stock yards there was about the US
ual Saturdays business. The supply OF cat
tie, although large for the last day In the
week, left only small number for the open
market Half OF the fresh receipts were
owned by the dressed beef operators, and
came direct FROM Kansas City, so there Was
barely sufficient left TO make market or es-
tabllsh prices. The arrivals for the week
viii reach about IS, OOO, and prices have de-
clined from as to soc per 100 on so-csllcd Fat
native cattle. Texans have also declined,
but northwestern rangers have ruled fairly
steady.
The hog market was active and 5 to 10c