St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-06-21

FRIDAYS MARKET rs.
Trading a Trife More Ac-
tive, But No Rally in
Prices.
Wheat, Under Depressing Infu-
ences, Scores Another
Decline.
Corn Sympathizes With the Leading
Cereal, and Goes Down
Peg.
The Provision Pit Serious Study, and Ev-
erybOdy Afraid Of 1t.
wall Street Continues Weak, and Many
Stocks Take q Tumble.
The Provision Pit Serious Study, and Ev-
erybody Afraid Of 1t.
Wall Street Continues Weak, and Many
Stocks Take Tumble.
CHICAGO.
Especial Telegram to the Globe

vailed in the grain markets to-day, wheat
leading, but prices all around were lower.
The lack of strength, however, was general
ly conceded to be due to the decline in
stocks in New York, and the increasing
complication there which rendered operators
nervous and induced free selling by holders,
who, i'll view of the outlook, deemed it pru-
dent to unload their holdings and put them
selves in a position for any contingency
that may occur. The closing prices on al
deliveries of grain were at the lowest figure
of the session, but in view of the fact that
the financial troubles in New York are of an
old standing, there seems but little reason
for the alarm they occasioned in regard to
legitimate property and the rapid reduction
on stocks, coupled with the increasing un-
certainly as to the outcome of current years
wheat harvest, which is largely
increased by discouraging letters re-
ceived to-day from CALIFORNIA,
sales, and should no further business trou-
bles occur in the east, those who buy on rea-
sonable margins stand fair show to secure
good profits, provided they exercise a little
patience in holding on in case prices 60
against them in the start.
The provision pit was lively enough this
morning. The fellows who.were week ago
swearing to boycott it for twelve month
were shouting themselves hoarse and work
ing themselves into a perspiration about
it this morning. There was big break in
lard. 1t was down to $7.37 for July at one
time, and there was more of the stuff in the
market at this figure than anybody wanted.
The Fowlers are out of it. They began a
corner in it about ninety days ago, but the
sellers were too many for 'em.
THE Fowlers have certainly sold'' said
the managing partner in prominent New
York lard house. ''I'd not like to have tc
pay their losses. Three hundred Thousand
dollars would not cover it in my estimation
They've borne the biggest share of the loss
Lard is now cent a pound under the cost Of
production"
When it became apparent that the Fowlers
were out of the pit and no longer supportine g
prices vast quantity of stuff was unloaded
Everybody apparently turned seller and 6
great amount of the product came out OF
stop orders.
"I'm now believer in lard," said Mr.
King, of A. S. White & Co. 'It's too cheap
l became bull minute ago when saw the
market rally under the big load thrown out
by the Fowlers and their tailers.''
Wheat was active and lower Early cables
quoted English markets weak and dull
though later advices were more assuring.
the weather being reported too dry for crops.
The bulls drew some consolation from this
and also from the light receipts, heavy with
drawals and prospects for a big outward
movement tomorrow. Mail advices from
California gave gloomy accounts of the
damage done by the rain there, and reports
from many sections west of the Rocky noun
tains, though conflicting, were less assuring
than could have been desired
The market opened at about Yesterdays
close, but under a good outside and local or
der demand to buy, including fair coverings
by shorts, prices advanced 5s@1Sc, but the
increasing weakness in stocks in New York
and the report of an assignment by Com
modore Garrison caused increased selling by
the bears. Many holders also threw over
their load and prices soon turned down. The
first sales of July were at S6%@s65Se, and
then appreciated to S7Ac, from which point.
from causes noted above the market declin.
ed to S57sc, and closed on the regular ses-
sion at S5T@S6c. On the afternoon board
the feeling was weak and nervous on more
rumors of failures in New York, and JULY
wheat closed at s55Sc.
Corn spmpathized with wheat, although
the decline was not quite so severe. Legiti-
mate factors were favorable to higher prices.
but they were not powerful enough to count
eract the influence of the financial troubles
east. Prices opened 1Sc under the close on
yesterdays regular session, or 553lc for July.
rallied with wheat and sold at sec, but again
weakened and declined to close of 55s6c.
The feeling on the afternoon board was nery-
Gus and August declined 1Sc, but July re.
manned unchanged.
Oats were dull and weak for future, and
prices 5s@15c lower.
Pork was traded in little more liberally,
the trading being chiefly in the settlement OF
outstanding contracts. Prices were easy
and 10@15c lower, and the close on the
regular board was quiet at s19.35 for July
and August. On the afternoon session q
further decline of 10c on both months was
noted.
Lard was active and trading brisk under
the causes quoted above. The decline from
yesterdays close was 20@25c, to which NAV
be added further drop of 1O@121Sc on the
afternoon board. July opened at s7.s715
advanced to S7.5719, and closed on the regu.
lar session at s7.4o@s7.4215, and in the
afternoon at S7.3O.
Short ribs were active, large selling was re.
ported by longs, and prices were unsettled
The opening was 71ac under yesterdays
close on 'change, or at IS for August, closed
at s7.7715 on the regular board, and at 81 &C
in the afternoon.
There was an active demand, with SLIGHT
advance. on nearly all description of cattle,
the best stilIers and corn fed making Sc e.
@7.OO, one lot of stillers the Morris lott
ing $6.75. Corn fed Colorados and Tex.
ans sold as high as s6.15. Grass cattle also
sold a shade higher. Range cattle are not as
plentiful as the previous days of the week.
and they are selling at a slight advance, some
lots making 81. .1O@5.10. The poorest and
thinnest sold at 49, SO@3. 80. Stockers and
feeders are in light supply, and business
slow.
The hog market was dull, depressed and a
strong 10(@15c lower on all sorts, making the
decline for the week so far 20@25c. There
were some inferior lots sold to-day at de-
cline of about zoe. The prime cause of the
decline is the down turn on sides and lard