St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-18
PLENTY OF MONEY.
But There's a Manifest Lack
of Confidence in Wall
Street,
And the Stock Market Yesterday
Was, Therefore, Exceed
ingly Dull.
Spectators Went Over to the Produce
Exchange, Where There
Was More Life.
In the Chicago Markets Everything Stronger
Except What's Under Amour's
Big Thumb.
Fair Shipments and Light Receipts of
Grain With Favorable Reports
From All Markets.
CHICAGO.
Especial Telegram to the Globe. |

or S. too high. The advance was chiefly due to
return of confidence consequent upon the belief
that no further troubles in the business world
result to drive prices down to-day as was the
case yesterday and the day before, In addition
reports of foreign grain markets were favorable
and shipments from this point largely in
| excess Of receipts. Grain opened strong under
| these influences and an active demand from
shorts and the course of prices was steadily up
ward, the closing prices on the
regular board being nearly the highest
! Of the session. On the afternoon board there
| was less activity, the shorts having nearly all
covered, and prices settled back somewhat. In
! the provision pit quite good speculative bust
ness was transacted Offerings for future de
! livery were fair and the demand was quite active
at times, especially from shorts. The feeling
was somewhat unsettled and prices iuctuated
| considerably within moderate range, though
| averaging higher on the leading articles. The
market for both corn and hogs ruled higher,
which had some effect on the market for hog
products. Foreign advices showed no particular
change in that quarter and the eastern markets
were steadier in general way.
Receipts were moderate and the shipments of
all descriptions liberal.
In answer to an inquiry as to the price of pork,
q lrdQer IN provisions SAID. ''Inere mas not
been trade in it, This was at II a. m s.The
price of pork, - continued the trader, depends
altogether upon how badly you want it. II you
are a grocer and sell stuff to the lumber people
up in the woods, believe l can skurry around
and get little stuff pretty reasonably cheap.
II you re one OF those gamblers who sill.
eGough to sell pork when the panic was at it
height at New York upon the theory that Pills
Armour was as weak IS some of the more
| pretentious mlionaires down east-why, g=ess
you'll have to pay pretty good round figure for
| your pork"
Trading in wheat active, and though main
| ly on local account there were more outside or
ders than for time past The feeling was
somewhat unsettled, but prices averaged higher
under the influences noted above. The taking
| of vessel room for 100000 bushels also helped
| the long side. In Kansas the weather has been
damp and%et since Sunday, and not dry enough
| yet 10 thresh. The indications are that Kansas
and Missouri farmers will sell freely ut the mar
lIet price, whatever that may be, but farmers in
Indiana and Illinois will sell but slowly The
| market opened &c higher, ruled steady
| for while and then advanced
| NC more under free buying by
shorts. Later however, the most urgent demand
he'd bsen satisfied, aud New York not reporting
to the early adyunce here, there was more TO
realize, and prices declined A0Hc: but the
market again recovered later, advancing under
good demand 14@1Ac. fuctuated and finally
closed about l sc higher for August and Sep
ssmber and &c higher for October than at the
closing session yesterday, the figure for August
being S4hc, and for September IS aac. On the
afternoon board the feeling was easier August
ranged at s3A OSLO, and closed at SIC, and
September ranged ut S4S 0S5ac, and closed ut
CSC bid
Corn was active, especially on speculative ac-
count, and at times excited. The feeling was
unsettled and prices considerably higher The
rIyato I'D Hr-oa ard u
der an active demand, the advance of yesterday
having brought out large number of buying or
ders the market improved 1@1Lc more; then,
when the most urgent demand from the shorts
was filed, declined about Il under large offer
ings. Later there rally Of z 01c and then
fluctuations to the close, which was &c higher
for August, September and October-the closing
for August and September being sic and for
October 53c. Freight engagements were re-
ported for 100, 900 bushels On the afternoon
board prices were a shade easier.
Oats showed considerable more activity in the
speculative market and an unusual degree of in
terest was suddenly developed, operators bestow-
ing good deal OF attention upon 1t, and the re-
suit a volume Of business fur exceeding that
done for some time past. Evidently the shorts
were covering and for al future deliveries prices
ranged z611kc higher, while July was 81 c
above yesterdays close. The advance all round
was maintained to the close, which was at &c
for August and 1850 for September On the
afternoon board trading was light and the market
a trfe weaker.
As usual there was very little doing in the
pork and there is no particular change to note in
the market.
A fair business Yves reported in lard, chiefly on
speculative account The feeling was frmer
early in the day and prices were advanced 100
1910, but later reaction set in and most of the
advance was lost. Offerings were fair and the
demand moderately active. August closed al
81 10 and GeDtemker I ~ AZ a
shade easier in the afternoon
Trading as moderately active in short RIBS
and q stronger feeling prevailed. Offerings were
fair and the demand quite active. Prices ruled
somewhat irregular, advancing 15@2oc early, but
settling back again 5&I0c, and closing steady at
SITS for August and 81 so September
The cattle market was dull under the very
heavy receipts and all descriptions Of cattle sold
lower. There is an increase OF nearly 1000 over
this time last week. about 1000 of which are to-
day. The best fat cattle were slow and q strong
: 100l5c lower. Among the arrivals were several
!, droves OF prime fat natives and large number
of fair to good grass cattle. There was also q
: large number of poor grassers and other common
native stock that sold 30G40c lower than at the
opening of the week. There were about 100
/ cars Of Texans. and 40 or so cars of Colorados
and Indian Territory cattle, which. with odds
and ends, would make nearly 200 cars of western
northwestern and southwestern stock on the
market Texans were 10G15c lower making
the decline 25GS40c for the week. Old cows
common bulls. and all sorts of scrubby native
stock were 10G, 15c lower, making the decline for
the week so far 30G40c. Stockers and feeders
quiet, with little or no change In prices. There
was keen demand for fine assorted light, and
the best OF these sorts sold at 5110c higher dur
ing the early hours of the morning, but later this
l advance was mostly lost Heavy sorts were only
barely steady on average. An occasional car
load so may have sold early at an advance OF
Sc, but the bulk went out at Yesterdays prices
! The general market closed raher tame There
was only limited demand for skips cuIls light
: light and throw outs, and prices were almos,
I nominal
Geo. Brine said to-day: ssWheat is now cheap
er than it has been in % years-actuaIIy cheaper
for money. An advance viii come like thief IN
the night"
J. W Ramsey & Co. say: AT present the
feeling here il ''bullish, and with gradually de-
cressing stocks We would rather buy on the soft
, spots than sell With limited wheat receipts
: and good shipping demand we can see but one
, side 70 take on corn and that Is the BULL
The Chandler Brown Co. say: I'm view OF he
fact that II Is some months yet before the corr
crop Of 1884 viii resch the market and that reli
able adyices SAP that the stock OF old corn is no'
large. we believe thst before long we viii see 1
substantial advance = prices. otwithstaudine
the fact that Il i relatively higher than any
other Of the speculative articles
AiimiEe- Bodman S Co. say, 1--WE think the
1 Situation more favorable TO the bulls and
prices can easily be advanced another cent
: or two We think foreign markets are in eoudi
: tlcn 70 respond quickly 70 national advance or
: this side We still advocate purchases on break
believing thHt this wheat must eyenrualiy sci
: for mere money fo- legitimate purposes