St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-09
Among The Commission Men.

Dressing $1.5J per M.
Among The Commission Men.
Splendid crop prospects with weather made on
purpose for big wheat yield is bringing wheat
dealers to their senses and the gamblers are
struck with CONSERVATION. Wheat sold down to
7919c at Milwaukee yesterday and closed at soc
at Chicago. Under these circumstances any
paper less modest than the GLoBR
would perhaps remind its readers that the posi-
ton it took upon the question of low prices six
months ago, and which it had steadily main
tanned throughout had been thoroughly sus-
tanned by the markets-S0c is the intrinsic value
of bushei of wheat, and everything above this
price is only a fictitious value placed on it by
gamblers and which must be rubbed
off when the grain into actual
| market. OF course wheat will sometimes sell
below its real value the result of panic and wild
scare. If the political prophet of the GLOBE
proves only as sage as the commercial prophet
and his predictions are based upon as sound
basis what glorious time there is in store for
| the country to be inaugurated next
March! One great argument used by
the bulls is that the visible supply of
wheat is rapidly disappearing, that the millions
of bushels in the worlds granaries are growing
delightfully."- less in an astonishingly rapid man
ner. Although we not prepared TO admit
this to the full extent of the claim we would
suggest that there are two very important factors
which they do not seem to see or il they
do see them they ignore their
importance altogether one is the large invisible
supply, and the other, and by far the more signi-
flcent, the immensely increasing visible supply
of flour Now would like to know whether
mans wealth would be in any way diminished if,
possessing a thousand dollars in silver he were
to change 800 OF them into $50 gold pieces; he
would have fewer pieces it is true, but
ba would mo of a thnu and dollars oil
the same. The hour market all over the world
is glutted: expectation to Europe from the states
is insignificant both of wheat and flour; taking
the wheat and flour for instance exported in one
weekday in the week ending June %, we have
from the Atlantic Sea board 1881, 900 bushels;
in the same week England received from Aus
tralia and New Zealand 7,508,000 bushel. and
even from Chilli 1,496,000 bushels. For that
week England received from all sources Il, O00,-
600 bushels, of which the insignificant moiety of
1,1S4,0 bushels only were drawn from our
resources. Latest dispatches from England say
wheat dull and I'd and Cd lower. Advices from
the same say that the crop prospects are
magnificent. These some of the reasons
which lend their significant weight to
influence our opinion, but not
our desire for cheap wheat. There has
been less movement in wheat at this point dur
ing the week under review than the previous
week. Railroad returns show 80 cars received
and rs shipped, against SO and 127 for the pre-
vious week. Elevator returns show 10, 173 bush
els received and 53,603 shipped. The cars re-
ceived were for the ST. Paul rolling mill, and the
shipments were to the Minneapolis mills of grain
stored here for the association. Farmers,
wagon deliveries have been from 5000 to 1000
bushels; street prices have been 80c1S5c; prices
at country points have been 70c@75c Millers,
however, are not free buyers even at the present
| low rates They are beginning tie learn, or rather
their former experience has taught them, that in
,rh. hr7-f ,,rr 1.lttA
let the morrow take of itself
and the best policy is 10 buy only
for present use. There has been more wheat Of
! fered on change the past week than for some
time, and more has been sold and although
prices have been low they have been above
mers' quotations. The local and northwestern
demand for -four reached the highest average of
the year, but there has not been the slightest
! improvement in the Atlantic coast trade, and as
to foreign business it is inst impossible-at prices
offered. The stocks of grain in elevator yester-
day were:
Wheat. 444 bushels.
/ Oats. Observation-Disclosures. 1882 -
/ Corn. .-....-.. 2,335 -
Barley --.......--......... 65o
There has been slight improvement in the
/ demand for corn, and all offerings have sold
/ readily The receipts of oats were 1000 bush
I els against $1,000 for the previous week These
/ all went direct 10 the consumer and
elevator. Street deliveries have been light
1 Half dozen of barley were shipped in and
I found their way &, masters at low rates There
has been a fair demand for ground feed and
| prices have ruled steady IL cars covered the
! whole amount of transactions. Hay has not
I been active and receipts have fallen off just
I e-half; prices are steady. The butter
market is just where fonnd it last week.
/ Receipts continue liberal and the demand not at
I all rushing; prices are unchanged IL may be
/ stated for those who complain at the apparent
I low prices that the market here Is very much
/ above New York and the eastern markets Beans
/ are higher but the market continues slow.
Bacon and hams are very firm and mess
/ pork excited; dealers here are selling
/ at least 81 below Chicago prices. Dressed meats
remain very firm. Hops are much higher owing
| 10 the unfavorable crop reports from Europe.
Live poultry sell well-spring chickens at 4OG
/ soc, old birds 509 60c: turkeys according TO
weight at about 125sc. Fruits have been very
! active during the week, at prices rang
/ ing with the supply and wealth
CT. Strawberries are now about over, but
raspberries. currants and blueberries are becom-
ing plentiful. The markets are wei supplied
/ with vegetables of every kind and shipments are
| made Of sound, fresh goods at prices according
/ to each days market quotations.
1t should be vel noted that the following
prices current are for ronnd lots only:
BUrTE8-Receipssi increasing ;greaseic; packing
STOCK Oh naFoE, &C: GARY. common TO fafr, 10
Geisc; choice dairy, I3G515c; creamery I-1Isc:
vel known brands 1s820c; extra choice in 5El10
ID. boxes, ia nc.
BEASs-Commo, sl.e5G1-s5; medium, s2.s5
GS25a navy $2.T5.
Bacon AND HAxs-Long clears bscon. 1oc:
dry salt &c; shoulders, s1shc; hams. 800
1871.
MEss PORk-siG.oOa1s.so.
CEEEsE-Skim SIC: ful cream 9-10c
DREsSED MEATs-Beef. city dressed. ga
sssc;extra prime beef 50t ;Iaurron- CITY dressed
9ssE10c; veal i0G11c-
FLOUE-Pssenfs seG6.25: straight $3.50
5-s5 Bakers XXXy. S425G5.O0: low grades
S2.75G3.Oo; Rye -four Ss-50Ez4-0o per barrel;
graham q -25E54.S0 per barrel; buckwhezs -four.
IS. T5fS7.Ou
HrDEs-Green. saIted, ~ GsIc. green, 6G7e:
dry tint. Lee; calf, dry, issses green lie; deer.