St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-02-29
EXTREME DULLNESS.
The Stagnation of the Chicago
Grain and Provision
Markets Still Con-
tinues.
Wheat Weaker, With Very Little
DOing-More Strength in
Corn But Lower
Prices.
Pork Quiet and Weak With But Little Trad
ing, and that at Lower Prices
Weakness and Decline
in Lard.
The Wall Street Bull Clique Entirely
Wiped Out--A Steady Decline
and Feverish Close.
CHICAGO.
Especial Telegram to the Globe.l


day!" asked one partner of another in one of
the large commission houses on La Sale
street tonight. He studied moment, So
lloquized, "It's been awful dull--say $3.50"
The interlocutor said, exactly S37, so.
There were number of brokers present, and
they all chimed in with tales of days of
almost continuous idleness, andone ofthem
told about brother broker whose horse had
cast a shoe and forced its. master to borrow
25c to get it set so he could get home over
the slippery streets Just then shiVering, thin
clad figure made its appearance.
1t had once been an operator on Change,
now it haunted Gamblers alley and subsis-
ted ON the excitement in there, and occa-
sonal doles from whilom associates, Nonly
five cents to ride home on the street cars"
Several quarters were pressed upon. the shiv-
ering wretch, and warmed within he went
out to breast the icy blast "You see what
McGeoch and the big four will soon bring
you all to, said jocund broker, late from
the cream city, as he closed and buttoned up
his ulster and went out into the twilight. He
spoke only half-heartedly, and it was but the
reflex of very forced smiles which wreathed
the countenances of those who staid behind
''Dull, duller, dullest, and its getting no
better very fast The country operators have
got tired of being treated like lambs; specu-
lation has been killed and will not be raised
again until wheat gets down about ninety
cents" Two more brokers went out.
The review of the day bears the impress of
he scene in that one office. The markets
pn 'change were weaker, and all articles
dealt in for future were lower with very little
business, and transactions chiefly of local
character, operators as a rule showing
disposition to curtail business
until after the first of a month, and portion
of the trading on change was in the way of
transferri ng purchases made for March to
future months at the premium paid for car
rying, May as usual being the faYorite with
all classes Of dealers.
2 Wheat wa weaker, trading small, and the
course Of sSaces Disappointing to large
class Of operators. 1t was, III fact, one OF
those days in which the conditions that seem
the most unlikely at the opening prove to be
the ruling features of the day. In other words,
when prices take reverse direction
from what operators had a right to expect
from the influence that most usually consti- l
tute values. The cold weather caused
strong feeling early and few sales were
made at 79@9sc over yesterdays close.
9S4@9S3Sc for May, but the eastern sea-
board and European advices were unfavor-
able. A considerable number of selling Or
ders were reported from the former markets.
The aggregate available supply at leading
points east of the Rocky mountains and in
transit on the ocean for Great Britain and
Continental Europe, as computed in New York
and Liverpool showed an increase of 1875, 600
bushels, instead of decrease of over ESQ.,
900 as stated in private dispatches from these
cities yesterday. These influences more
than balanced the uneasiness which the cold
weather caused in regard to the winter wheat
plant, and as there was scarcely any outside
orders to buy and the local shorts were pretty
well covered yesterday and Tuesday, and the
bulls were not inclined to support quotations
by free buying, values soon took down
turn and gradually declined to 9714c and
closed on change at 973s@16c.
Corn has shown more strength than wheat.
There seems to be some outside demand for
~ Ill SpCSuldllfO way OuGIluSS dI0
higher. The receipts are fairly iberal-362
cars-of which 81 graded No. 2, and 239 no
grade and rejected. The market opened at
5S5sc for May, and sold off with wheat to
57%c, closing at 575S@57Ic. Trading was
moderate and confined to scalpers chiefly.
The sample market was firm. New mixed
free on board 49@51c; rejected 44046c, clos
ing 461a@49c; no grade 35@44c. The de-
mand is quite equal to the large supply, and
we notice some sales of No. 2 being made on
track and free on board at better than store
prices.
Oats dull and neglected at 36H@P61S for
May. Hardly enough doing to make quo
tations,
Pork was quiet and weak. The bull
manipulators showed a disposition to keep as
near out as possible and as other operators
were distrustful of being caught no matter
which side they might take, they stood out
and the volume of business was small. The
opening was at $1S, or 15c per barrel un der
the last sales on change yesterday. 1t sold
az $17.95 up to $1S.15 on moderate buying
by shorts and scalpers and closed at O'Clock
at $17,9719@18. A feature of the market
was the near approach of the price for May
to June deliveries.
Lard was weak, in sympathy with pork,
and the decline was equally marked. The
only demand was to cover shorts. The offer
ings were free, and indicated that holders
would gladly unload, provided they could do so
without causing severe break, and the close
was at about the lowest prices.
Short ribs were dull and weak, closing
about 12A@15c per 100 pounds lower. As
with other articles of hog products the de-
mand was confined to scalpers and shorts.
Outside dealers being disgusted at the con-
slant manipulation of the so called ssbig
FOUR" have decided to let them have the
deal.
Whether President Blake's little sermon
this morning about trading out of hours or
thel cold weather affected attendance on
the curb and in the halls matter not. Prices
were off and the feeling was weak at p. m.
and no improvement when the gas was
turned off. The quotations were: May,
wheat, 977sc; corn, 57a6@Hc; oats, 36c;
pork, $17.771l; lard, $9.5271; ribs, So
221S.
The receipts of cattle to-day at the stock
yards foot up little over 1000 against s.,
900 last Thursday, making about 1000 in
crease for the week so far.
The market opened quiet with
fair steady demand with little
or no change in prices. Somes salesmen
seemed to think the run of seventeen cars at
st. Louis yesterday, and the 100 reported to-
day would be apt to draw away from this