St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-20
The Promises Of a Brace in
Prices Refuse to Ma
terialize,
And Quotations Pursue the Even
Tenor of Their Perplexingly
Quiet Way.
Refusing TO BE Enticed by the Bovines
to Higher Mark or to Be De-
pressed by Bearish Talk.
Nothing in Appearances to Indicate That
There VIII BE Amy Serious Breaks
Either Way in Cereals.
Dogged Determination by Certain
Traders in Wall street to Put Shares
Cpa Few Pegs.
CHICAGO.
Especial Telegram to the Globe.

lSpeclAl Telegram 10 the Globe.
CHICAGO, Nov 19.-The revival in trade
expected after the presidential election had
been settled has not materialized TO any
great extent and the market ruled rather dull
to-day, though very steady, fluctuations in
articles being confined to very narrow
range. There were no features worthy of
mention, and the close was steady at de-
cline of Is in wheat and sc in year corn,
November closing the same as on yesterday.
November oats were &c higher and year oats
unchanged. Provisions were firm and ~
@5c higher for pork, axe lower for Novem-
Der lard and 21Ic higher for January ribs,
other options being practically unchanged.
Closing figures on the afternoon board we're:
December wheat 725Sc, year corn 3714c,
May oats 2S5s, January pork S11.121z, jan
uary lard S6.S719 January ribs 1915.
In the wheat pit there was good deal of
local trading. bat none on outside account,
aud while prices were remarkably steady
there was an under current of nervousness
among operators, elected chiefly Nv desire
to shift trades frequently from the long to
the short side and vice versa. Foreign cables
brought no encouragement, both London
and Liverpool reporting dull and heavy
markets, and prices We're quoted shade
easier at the seaboard. The aggregate re-
eeipts at western primary wheat markets
show decrease to day of about 125, 900
bushels, the largest falling of. being noted at
Duluth, but this is not regarded as indicating
any important change, as the receipts re-
ported yesterday in some instances we're for
two days. The market opened a shade I'M
Ter yesterdays last quotations and ruled
very quiet, with fluctuations of not more
than &c either way, and the close was only &c
under that of yesterday. The IDEAL range of
prices for the principal options did not ex-
ceed 56e. An attempt was made early to
realize on the wheat purchased at yesterdays
bottom prices, but, finding the market would
not stand it, the longs desisted and prices
recovered. In fact, free selling would have
caused break of greater or less proportions
at any time during the day. The position of
the local operators seems to be that they see
no encouragement from a bull movement
and at the present price do not care to go
short. Consequently, they contne them
selves to making quick turn either way,
according to the influences effecting the
wheat market at the moment. Decem Der
opened at 722e, ranged at 7219@725sc, and
closed at 72%c. January opened at 1870,
sold at 70 6c@735se, and closed at 1890.
May closed at S04c. No. 2 spring was in
light demand at 7215c@725Gc. Cash and No.
3 sold at 56(@57%c. No. 2 red winter sold at
73c, and No. 2 at 60c.
'tThe wheat Market" said Arthur Orr, sis
held steady by the puts sold last night, and there
was only the ordinary amount of privileges
traded in. There is no movement of wheat
either way. Nobody seems 10 have any definite
opininion which they are willing to bank on for
q large stake. The boldest of the scapng crowd
may buy, but they do it for quick turn, aud as
soon as they have bagged profit of 1aeQ1c they
get out. Adams, Hancock, Stoeffer and a'host
of scalpers were buying to-day, as they have
bought at ali times through the decline, but
none of them hold on for any length of time.
1t takes nerve to buy for an advance, even at the
present unprecedentedly low prices, and the
ether side of trade is just about as bad. We
have now 40,O0O,000 bushels of wheat in sight.
This is increased every week by about 800, 600
bushels. Even at present prices, which do not
net the Kansas or Dakota farmer above 40c 2
bushel at the point of shipment, The receipts
continue to pile up. The fact is, there's little
choice between the long and short SIDES of the
market but of the two / believe I'd rather
sell"
at is said that the market is largely over
sold, said A. NJ. Wright, land the failure of
values to decline in the face of the adverse in
fuences is largely attri uted to fear on the
part of the bears that the bulls were preparing
for strong upward movement. But, viewed
from present surroundings and the material ad-
vance in the face Of liberal receipts, large and
accommodating stocks and an absence of con-
sumptive demand, it seems impractcable. On
the reverse, the low prices are likely 10 con-
tinue to actas check against free selling, as
operators the short side well advised that
there is strong and increasing belief that wheat
at present prices is cheap"
Corn ruled very dull with tendency to
lower range, but November after fuctuating
within the limits of &c, closed at the same
figure as on yesterday, Az, and year after
fuctuating within a range of 5sc, closed sc
lower ut 37Hc. Liverpool reported corn as
quiet and u penny per GENITAL lower, bat our
receipts were not quite as large as were ex-
pected, while out of 279 cars only nine graded
No. 2 and eight more were classed as high
mixed. If it is true that the new crop of
corn in this and adjoining states has been
bought up by spectators directly from the
farmers and is being held back purposely
for higher prices, then it is not so strange
that our receipts continue small or that the
market continues to drag it's slow length
along. At present there seems to be very
little disposition TO buy, tut if the visible
supply keeps on decreasing and more corn
goes out than comes in, prices must neces-
sarily 90 up in order to put the new crop il
motion.
Oats continued steady and strong, with
the chief trading in the May option, Press
selling $50, 900 bushels early and buying
later. That option ranged between 2Sxc
and 2s24c, closing at 2s5sc. November was
held steadily all day at 2524c.
There was only moderate trade in pro-
visions, and the liberal offerings occasioned
by the heavy receipts of hogs, caused au
easy feeling early, from which there was a
general recovery later. The quality of the
hogs now arriving is excellent, and should
large receipts continue lower prices for pro-
visions are not improbable. January pork
opened at $1l05, ranged at Sl1@11.17H
and closed 219c higher than yesterday at
$11.l21z. February ranged at S11.121S@
II. 27J% and closed sc higher at $ll.25. No
yember lard ruled 215c lower at Sc. s71S and
December closed unchanged at S6.77 Is.
Ribs closed 215c higher for January at 1878
and unchanged at 1886 for February.
At the stock yards the markets opened
ouiet and dull. but later became moderately
aetiye. and closed steady at about yesterdays
prices for cattle and sheep, and 5@10c lower
on hogs. There were over 10000 hogs at
the wards this morning, an unusual number
for this season of the year. Packers, as a
consequence, were able to break prices so
80 Lzrad All these did not arrive