St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-08
The Uneasiness Of the Body Pc
lite Produces Caution
Among Traders.
Wheat Continues In the Same Old Rnt.
Going Lower and Lower
Day by Day.
Corn Unsettled and Declining, Oats Looking
stronger and Provisions Listle
More Stronger.
stocks dove CP and Down with Activity
An Day. Closing - the Best Fig
ures OF the Session.
CHICAGO.
isns,Ial co. o be e.ass.

CHICAGO, Nov THE fac. that the out
come OF the national election was to a GER
tain extent in doubt to-day tended very much
10 unseii.e confidence amOng operators II
speculative articles, and the feeling OF IN
certainty gradually developed into weakness,
aud the closing figures showed decline on
all leading articles. Trading was limited.
Wheat closed IKE lower for December, at
74c. November corn closed &c lower at
4Oase. and May oats &c lower, at 2S4c.
Provisions were also weaker, ard January
pork closed i5c lower, at Sl1. 321{. No
vember lard was lOc lower, at $500, and
January short ribs sc lower. at $500.
Wheat was almost entirely destitute Of
supporting influences, foreign cables report
ing weak and dull Brithh and continental
markets. Receipts here were liberal and the
only features In any respect favorable were a
slight increase in withdrawal Of contract
grades from store and diminished arrivals at
some other markets The market opened
shade under yesterdays close, aud there was
some heavy selling IN the morning The
sealpers sold for a short turn aud some heavy
selling orders from New York were executed,
under the influence Of which the market
dropped of about &c. Driver, Counselman
& Bliss sold all their options and seemed I'M
able to sell enough. On the other baud,
Kent stood in TIE pit and bought all the morn
ing. He has been buying wheat for several
days, aud some Of the brokers are wondering
whether be Is buying on his own account or
whether he represents a bull clique. He
evidently has faith in the intrinsic value OF
wheat. 1t IL estimated the wheat average
will decrease 20 per cent next year owing
TO the low prices now prevalent. This ele-
ment in the determination Of prices becomes
more prominent every day. In the afternoon
the feeling was weak. The longs unloaded
freely aud prices declined SS@Zc. NOvem-
Der was very duh, opening al 731<c aud sell
down TO a close OF 73ISc on the morning
board and res In the afternoon. December
opened at T5ssc, sold down to axe on the
morning board and closed IN the afternoon
at 74c- January opened at 75Isc, ranged at
751<@76e on the forenoon board and closed
in the afternoon at 7+5Sc. No. 2 spring sold
in car lots at 7Ss{974J4c, cash No at
$50. No. 8 red winter closed at 741fG1T4s<e
and No. 3 at 63Q64c.
A. NJ. Wright & Co., say: "Whiie we fail to
see any features calculated to encourage S
marked and healthy advance and think such
desirable turn in the market can only be
brought about by an adjustment Of the ship
ping demand 20 the arrivals on the develop
ment of an unlocked for, If not improbable,
speculative movement, we think that the
nresent sharp break iustises buying for a
scalp on the upward turn. The settlement
of the question as to who is to. be president
would also have tendency 70 Temporarily
stimulate trading"
Mllmine, Bodman & Co., say: "we think
a decision either way will have but little effect
on values. but We incline to the opinion,
after It is all over and definitely settled, bust
ness will improve materially. At any rate 1t
can't get worse. The markets all seem stub
born, and we think values are not likely to
90 materially lower at present, aud we should
have reaction aud slight improvement in
prices, although we must confess that the
general situation docs not warrant any mate
rial improvement at present. We guess the
market will 90 still lower eventually"
Corn was unsettled and lower Short sell
lers offered round lots for future delivery,
aud under continuous pounding the market
rapidly reeeded, with no important rally dur
ing the day. Our receipts were little less
than usual, but fine weather and future
prospects were too much for the market.
Liverpool was firm but New York was quite
weak aud l &c lower for November, while
St. Louis sympathized 70 the extent Of &c
November opened at 4l1<c, declined to 4lc
and closed on the morning board at axe,
but receded rapidly in the afternoon, going
as low as 395Se, the lowest price this year,
and closing at 409Sc. Year opened at 37ISc,
went up to Csc and down to SIC, closing at
37ke.
Oats were about the strongest cereal on the
list and November were held pretty steadily
at yesterdays figures, 251(c, but May fell of
&c and closed at 2Ss<c 1t is claimed tina.
oats are selling for as much in Des Moines,
Ia, as they are in Chicago, and in view Of
the light stock higher range Of prices is
looked for.
There was some activity in tie provision
pit, but the feeling was unsettled and prices
ruled Irregular and averaged lower on The
leading descriptions, which was partially due
10 lower prices for live hogs, Foreign ad-
vices showed al easier feeling in lard which
was quoted lower, while other articles were
unchanged. Eastern markets were quiet
and prices ruled lower. The interest in pork
WAS mainly confined to the January option,
which ruled 20925c lower early, but rallied
1O0l5c and was quite steady at
the close, which was at sI1.32H.
February closed at s1I.42K-l7J<c below
yesterday. Lard was 10 moderate demand
aud prices easy. Nov. opened SC lower at
s6 e5, went up 21<e and ran down to close
OF $500. Very little was doing in short
ribs, and the close was Sc lower for January
at $3.50.
AZ the stock yards there was more atien-
ton paid TO business and less 70 politics
than for any day this week. Fat native cat
tie we're scarce aud higher. Texans. West
erns, and low grade natives underwent little
or DC change.
The receipts OF hogs were much larger
than anticipated for so late in the week, and
larger number than could be bandiiy dis
posed of in the absence Of one or two Of the
leading packing and shipping firms, hence
valuef we're 8 strong 10c lower.