St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-10-23
The Advance Due Partly to the
Unc0nfirmed London Failure
RumOr.
A Livelier Outward Movement and
Reduced Freight Rates Also Hav-
ing a Salutary Effect.
Corn Receives No support From Manipula-
tors or Anybody Else, and Goes
Down Trife.
The Demoraiized Condition of Passenger
and Freight Rates Keeping Up the
Depression ia Wall Street.
CHICAGO.
Especial Telegram to the Globe. l


on 'change to-day, but as usual the trading /
was chiefly confined to home talent. Wheat !
again went up without any other apparent I
cause than local manipulation. Corn dropped |
off notch chiefly from lack OF manipuis-
ton. Provisions ruled stronger but not very !
active. Closing figures on the afternoon I;
board were November wheat 1c higher /
than Yesterdays close at 7515c, November /
corn &c lower at 1870, October oats Sc /
higher at 253lc, November lard DC higher at
S7.07H, November ribs &c higher at S11715. !
The bulls in tae wheat pit felt that things
were going their way The fact that yester-
days report Of heavy failures in the cotton
trade in England were not confirmed, had
the effect Of opening the wheat market this
morning. The general situation, however,
was unchanged and the market was sup
ported early almost entirely by the purchase
of shorts.
Liverpool was dull and MaSk Lane very
quiet and heavy Imports into the United
Kingdom last week were given at 1S5, 000@
10000 quarters. Receipts here were less
Of winter and considerably more of spring
and less at Milwaukee, Toledo and Baltimore.
New York early was re higher on wheat
and St Louis &c lower. The making
up of the last visible supply at New York,
which ignores Minneapolis and St. Paul,
/ showed an increase of less than 100000
/ bushels in wheat, and less than 100000
| bushels decrease in corn. Exporters were
/ reported to have taken over 200, 900 bushels
of wheat yesterday at New York and miliers
about 40, 900 bushels. Reports from New
| York that fifty boat loads of wheat have been
taken there to-day for export tended to make
! the market stronger, as well as a rumor that
| a French demand might shortly be expected.
| Cheaper transportation to the seaboard,
which it is anticipated will result in a live
/ lier outward movement OF grain, was also
! looked upon as one reason of advance in
prices. As mentioned day or two ago the
( West Shore line has been laying down wheat
/ in New York at &c a bushel freight. This
was in the case of special contracts.
/ II is now announced that this road will make
rates 10 shippers satisfactory" In conse-
! quence of this cut in rates the road is said
to be doing q better business than it ever has
! before. November opened at 75e, sold at
( 745ld75&4c, aud closed on the regular board
/ al 154c, and in the afternoon at 151zc,
against 741lc yesterday. December opened
at 761lc, sold at 763s@7735c, and closed
! finally ~ 77j5c. The January option is be-
ginning to attract considerable attention. It
opened at 773gc, sold at 7S55c, and closed at
/ 773Ic. No. 2 spring in car lots was freely
offered and sold at 74014$4c, closing at
! 74c. No. 3 spring closed 3@31Ec higher, at
/ 6206215c cash. No. red winter advanced
1@l3[c, and closed at 75Ic. No. 3 winter
sold at 651lc.
In the corn market il began to look this
morning as though the clique had indeed
abandoned their deal, although there is NO
certainty of escape from mauipulators until
the new crop begins 20 arrive freely. Traders
have been allowed 10 do with the market
what they pleased, so far as any interference
from without is concerned, and the
most of them have been pleased thus far to
sell it down. The belief is quite general
that the market could bear a little more ham
mering before prices would reach a rock bot
tom level, and so traders lose no opportu-
nifty to put their belief into practice, but to
others it looks as though the market was sus-
picously low under the circumstances and
that it really invites manipula-
tors by the way in which it
has been sold. There are, however, still a
good many operators who believe that the
corn clique is still alive, and will suddenly
wake up and paralyze the fellows who have
been talking about mortgaged property and
the clique's inability to carry the deal any
longer. One of the clique brokers said to-
day that it was by no means an impossibility
| -, -, IL,
OF the present month. The clique still have
the advantage or disadvantage whichever it
may be of holding most of the cash corn.
October corn opened sc below Yesterdays
last sales at 4535c, declined to 45c, ad-
vanced TO 464c again, weakened aud closed
on the regular session at 45c. In the after
noon there WAS further decline on free
offerings and the close was al 1880. Novem-
Der opened at 4415c, declined to 425[c and
after lucuating rapidly between that point
and 44c closed at 434c. Year was steadier
and closed at SO &c against 395sc yesterday
Oats were firm during the early hours, and
advanced a notch under good speculative
demand, but the latter weakened somewhat
in sympathy with the decline in corn. The
close was steady at 259lc for October, gain
OF &c over yesterdays last sales and at 80 &c
for May, decline of sc.
Provisions showed but little life, trading
bsiug rather limited. The feeling however
was stronger, and an advance was scored on
all leading articles except October pork,
which closed 25c lower at $3.50. Year pork
advanced SC to $l1.9O. Lard ruled steady.
with an upward tendency, and ST the close
October was 71Ie above the last sales yester-
day at 1920 aud November &c above at
S7275S. Ribs, though quiet, were also
stronger and showed an advance of 5(d15c,
October closing al S9.S15z. against 972JS
yesterday and November at $7.l75z against
S7.I21z.
The cattle market was rather quiet, vet
prices ruled steady on the best natives and
strong on the best rangers. The latter were
4O950c higher than last week, especially for
good Texans, the best Of which are making
SO. 9Old4. 90. There seemed to be a large
supply of low grade Texans, including COWS.
cuIls and tailings, that are making So 400
$50 Wyoming and Montana Texans are
making S3.65a4 is and drove Of Montaus
cows made 81
} Toe hog market opened a shade stronger.
with the spectators eager buyers, and in
some instances an advance OF 5gIOc was es-
tablished, but, after the spectators had
about bought up the receipts, they found that
they could not so rapidly unload, hence they
found themselves stuck with property
they could not realize on. The market closed
wax vith the Sre.cfl latOrS willing 20 sccer,