St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-23
The Heavy Traders Continue to
Wait For Something to
Turn Up.
Foreign Adyices Of a DiscOuraging
Character, Both Wheat and
Corn Being Lower.
Provisions Beginning to Go Slow, the Sep
tember and October Pork Options
Droppinga Half Dollar.
Shares Close Quiet and Dull-Union Pacific
the Center of the Little
Strength Left.
rsnecial Telegram to the Globe. ]

has been a quiet one with no noteworthy
features, but taken as whole it was much
more satisfactory than yesterday. 1t could
not have been less so. The feeling was Il
shade stronger, and prices Of grain a shade
better, but in both instances it was only a
shade, and there was continuance of the
inactivity that has characterized the market
lately. The opening was a surprise to most
traders, in that they expected the
whole list to open decidedly lower
and sell rapidly downward in
stead of which the opening was stronger
and higher than last nights close,
though neither of these features were pro-
nounced enough to make it worth while to
brag on them. After the opening the tenn
per during the early forenoon was weak and
the volume Of trading small with some
scalpers covering on corn, but the big bodies
did nothing. Indeed, if it hadn't been for
the scalpers there would not have been
enough Transactions to have made market.
There were rumors of an actual declaration
of war between France and China, but this
contingency has been talked Of so long that
what effect it would have has been pretty
well discounted and so its influence was
hardly noticed. Foreign advices continue of a
discouraging character, cables to-day, both
from England and the continent, quoting
further decline in wheat and corn. Receipts
were also quite free, but the effect of these
influences has been to cause continuance OF
prevalent duIlness rather than to make any
serious alterations in values. September
wheat closed 25c higher at 782lc, September
corn 3 higher at 521I and oats for Sep
Lember 1tc lower at 25c. Provisions were
dull and heavy and closed SOC lower for
September and October pork, about steady
for lard and 50l0c lower for ribs.
Wheat opened steady but quiet, at an av-
eraec, on the various options of fully the
best figures Of yesterdays close, though the
feeling was somewhat unsettled. The pres
ence Of buying orders would have caused
an advance, but few came in, and the meagre
bidding that was INDUCED in was mostly on
local accounts. The seaboard operators are
disposed to short the market, but operators
here hesitate to sell the market short at pres
ent prices, and appearances are that there is
not very large line of short wheat net in the
either. AT one time Hutchinson, McHenrv
IL Belding and Clark presumably for Ream)
were free buyers and worked the market M
lic, but later the advance was more than
lost 10y heavy selling by Carr, and the clos
ing on the morning board was barely steady
at the close at opening figures, having fuc-
tuatcd only se during the session. On the
off Ia,
September went up to close of 7S%c, a
gain of 1sc, and October up to S093c, an ad-
vance OF &c.
Corn was somewhat easier, although there
was considerable activity during part of the
session. Shipments of the contract grades
are much restricted by the difficulty of con-
centrating the scattered and very limited
cargocs The only elemento of strength was
local buying, which was INDUCED in early on
small scale by the Adamscs, Geo. Brown,
and Cau.hcr. Schwartz Il Dupec sold dur
ing the early hours as did also Henry Cham
ptou and Sherwn. aud when signs of weak
ness appeared Baker let go considerable
The deal continues purely local, the only
8
''Ihe crowd" said commission man,
''is going to be fooled on corn He will hes
tatc to sell because of the small stocks and
the fear of a corner, and corn will all the
while drop lower and lower"
September opened at 52c and closed at
52ic, gain Of sc over yesterday, and
October opened at 505sc and closed at 5Oslc,
u loss OF 4 @ over yesterday.
Oats have ruled quiet with n fair business,
September closing at 25c and October Mt
Csc
Only moderate activity was manifested in
the provision pit, and there were few i'm
Ioriaut changes to note. Speculative offer
iugs were fair, but the demand was not par
tcuarly active and prices were without
material change. except for deferred deliver
ios of pork. September pork closed at $21
and October at $50. a loss of soc on each.
A fair business was transacted in the lard
market and q comparatively steady feeling
prevailed, prices averaging a trile higher,
and closing at $50 for September an ad.
vance of DC, and at S5.G1ls for October, the
same rs yesterday. The inquiry for ribs was
very moderate, and offerings were not large.
Prices ruled lO0l5c lower but rallied some
what and closed at S1o.5O for September,
decline Of SC, and at
Sl0.t0for October, 81 decline of IOc.
Good native cattle were again scarce and
sold at extreme figures, the best making
S6.6o.G5 Second class natives were slow.
but. owing TO the scarcity of frst-class, sold
at steady prices Native grassers had to be
disposed of at any price salesman could
get, and are selling at ruiuouSly low prices.
They are not wanted unless they can be had
al prices feeders can pay.
There were 100 ears Of fresh Texans and
territorial rangers on the market, and about
CO cars were carried over, making about
l. GOO on sale. Trade was slow and values
were strong lOc lower on all sorts. Native
butchers stock was dull with low range of
prices on cows and bulls. Texans may be
quoted at SSGS. 90, and territorial rangers at
from S49S450.
e1There was q brisk demand for choice
heavy hogs and they sold equally as well as
yesterday, namely at S6.5O66.55. The out
side is &c lower than outside yesterday.
Medium and mixed were 56e10c lower, with
only a limited demand Light sorts were
almost unstable. The shippers were out of
The market and packers cannot use them
Just now. Values were 15l620c off, on say
i70 20 $50 averages, the best not making
over ST &Od6.40. GraSsers were dull and
weak at from $500 to $3.50 for averages Of
goo and thereabouts, while those averaging
$50 and thereabouts may be quoted at $50
5.25.
The sheep market remains dull, With