St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-15
No New Features in the Chicago
Market and Very Little
Trading.
Prices Confined to q Narrow Range
and the Efforts of the Bears Null
lifted by Firm Undertone.
Wheat Destitute of New Features----Corn
Quiet But Stronger---Proyisions Stronger
nlWith Fair Speculative Trading.
The New York Stock Market Inactive
With the Volume of Business
Light.
CHICAGO.
Especial Telegram to the Globe.l

CHICAGO, March 14.-The markets on
'change to-day developed no new features OF
interest, and trading was the lightest of any
day this week and, as usual, mostly of local
character Prices were confined to narrow
range, but there was firm undertone, which
prevented the bears from hammering the
market as much as in former days, and Gre
ated afeelng of uncertainty that made the
most reckless backward about making
any new trade, and they
spent their time in protecting the
the situation tonight in these few words
"There is nothing except few large specu-
lators trying to make $6,25." ''Thats it ex-
actly'' exclaimed f. H. Moore, who was stand
Ing near by and heard the remark.
''It was talked around to-day that the sell
ing of the heavy line of wheat Wednesday by
Kent's broker, that he had bought early on
that day, was for the purpose of helping the
"big FOUR who were heavily Short to en-
able them to cover on the
promise from them that they
would help him bull the market
after they had provided for their shorts,
which amounted to 1000, 900 bushels. Their
actions to-day led many to believe that there
was considerable truth in the rumor. To-day
Kents brokers had large orders to buy May
wheat at 96Ac, but could not fill them.
Among the most important buyers OF wheat
to-day were hurry, Nelson, Driver, Roche
and Hancock. The latter was long good
line and bought April freely for time to get
the market up.
The decline in rail freights to the seaboard
to zoe created an export demand for wheat,
and j. H. Milne bought 20, 900 bushels of No.
. minnesota for export to Glasgow at 925sc,
winter receipts. Another lot of 80, 900 bush
els was also taken by another party. There
was also more demand for flour and 3, 900
sacks were purchased, 5000 being Minneso-
Ia bakers grades at $3.650425. The prices
on the round lot were not made public. There
was considerable long corn sold out on
which the holders realized profit of 1@2
cents and a number of brokers picked up
good lines to-day for an upturn. Comstock
being among the latter class.
The report of the Kansas agricultural de-
partment that the state had raised IL, $780,,
900 bushels and had 81, 131, 900 bushels on
who put little belief in the statement. An
operator discussing the report said: ''It does
not figure out right. If Kansas has 81, 1872, 900
bushels on hand they would have had to ship
out and consume 91,000,000 bushels, which
they haven't done, as it has been impossible for
the railroads to have handled over sc, 600, 900
bushels of corn with the large amount Of
what that thaU hova ShjDDed 7 have the
opinions Of the best posted men in Kansas
City who make the amount shipped so far
$4,000, 900 bushels. There is larger stock
there now than ever had before. All the
cribs are filed and no more can be handled
until some Of them have been emptied, and
it is useless to send such reports over the
country as it creates a wrong impression.
A comparison of the official estimates of
stocks held by farmers on March list for four
years and also for visible stocks and the
aggregate of these supplies is shown in the
followingin bushels:
Farmers stock. Visible supply. Aggregate
1sS4-119, 100000 100000 15OOOO,O0O
1SS3-143, 100000 23,0O0,00O 166,OO0O00
1882 9S, 000,0 600 100000 I14000,000
ls81-145, 900 24,OO0,O00 1855, 10000
Wheat was quiet and destitute of new
features of a striking character. Foreign
cables quoted the Liverpool and London
markets quiet and steady. Prices were well
maintainedin New York and the nervousness
shown here yesterday seemed to have dis
appeared. The bears showed no disposition
to pound the market by offering large blocks,
as they had done during the preceding days
~
apparently slow, and of local nature, it was
sufficient to prevent decline below the in
side prices of yesterday, and it was
repeatedly stated on the floor
that there were buying a. orders
for large lots at about &c under the inside
figure. Opening sales were on basis of
963S@961Sc for May, barely touched 96Ac;
sold up on moderate buying by shorts and
seal pers to 96Xc and closed on 'change at
9615@965Sc. On the call stronger feeling
was developed and $50, 900 bushels changed
hands at 961I@963lc, and closed at $500
96l, but later on the curb advanced to and
closed at 962l@9655c.
Corn quiet but stronger The receipts
showed further slight decline; the inspec-
ton being only $50 cars, of which 81 were
contract. The shipping inquiry for low grades
were good and prices were 1@2c higher, buy
ers being encouraged by a reduction in
freights, and this had tendency to increase
confidence in contract grades for future de-
livery. There were also rumors that liberal
purchases were being made in the interior
for supplying the extreme northwest. Open
ing sales were at yesterdays close, at $500
SIC for May; advanced on fair demand to
cover and buying by scalpers to 57Y@57&c,
and closed at 573S, but on the call closed at
5715 with fair trading.
Oats were quiet and steady, sample lots on
track being scarce and in good shipping de-
mand, but No. 2 for future in light request
and sparingly offered. Rye was firm and Nc
higher.
Provisions were stronger with fair specu-
lation to-day. The shorts have become
scared, especially in lard and a number of
them covered freely. The rumor of a heavy
export demand proved false. The parties
who were referred to as having orders from
the other side stoutly deny that they had
any.
Pork was firm and advanced 1870 over
The last sales ON 'change yesterday, but the
demand was small very little interest being
shown by either class of operators. Itsold at
$1S@1S.0219 for May and closed on 'change
at SIS. 0S7s@1s. 10, and at SIS. Is on the curb.
Short ribs were firm and 5(9719 higher, but
the business was small, the demand and
offerings again being light and trade spirit
less.
Lard was more active and under fair
demand to cover shorts and buYing in a