St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-05-23
CHICAGO.
rspecial TELEGRAM to the qlobe. |

CHICAGO. May 22.-The markets to-day seemed
be taking rest after the activity of the past
few days. The grain markets were nervous and
values irg, gUlar, and the fluctuations, although
confined to a comparatively narrow range, were
rapid The bulk of the business was of local
character, and while prices averaged 4 shade
higher than yesterday the closing figures on the
morning session were below those at the We'd
nesday afternoon session.
Wheat was the most active article traded in,
and governed other grain, which sold up or down
as it advanced or declined. The trading was
epasmodic. At times it showed fair amount
of activity and again lapsed into positive dull
ness, and during the closing hour there were
strong indications that the bulls found it difficult
to prcveuta more severe breach than was re-
corded. 1t is, however, q manipulated deal, and
those who wish to take either side should fortify
their broker with strong margins, as they are
likely TO be needed if their deals carried to a
Successful termination.
Provisions We're less active, put prices were
well maintained, the strength, however, being
due To artificial causes, the legitimate features
being adverse 10 an advance. The shipping de-
mand for all classes of hog products small
and the strength manifested was due to the ex-
pected corner in June and July pork.
\ moderate activity was shown in wheat, but
trading was chiefly between local traders, out
side orders being light. Values were chiefly
controlled by local influences, advices from other
leading markets not being of Il character to exert
any marked influence in either direction the
only favoring feature being the small receipts
(bUt Is cars). The Withdrawals, however, were
unusually light aggregating but 81, 600 bushels |
New York advices offered little announcement
fot buyers, and cables were con-
bic supply at points east of the
Rockies was fully balanced by an increase on
the ocean passage to wheat-importing countries
of Europe. Crop advices from nearly all parts
of the country favorable. No new engage
ments were made to ship by lake, the advance
having cut off the foreign export and eastern de-
mand. July options were, as usual, the favorte
deal and opened at 93c. advancing from that
point with rapid fluctuations to 935s. BY that
time the timid shorts who disposed to cover
in anticipation of further advance under ma
nipulation of the bull syndicate, had saved them
selves, and buying SLOW while offerings
were more liberal, many scalpers who had
bought early yesterday being anxious to take
their profits, and prices receded to 925ac
when the bull syndicate came in and bid them
back TO 9S5sc. Prices again weakened under
strong selling, the impression being that the
syndicate were unloading through brokers' and
values rapidly descended and closed on the regu-
lar board at 90 IaC for July. On the afternoon
board wheat quiet and trading light, the bulk
being at 90 q @g92i2c for July, which closed at
92I2m925ac.
Trading in corn was dull andIthat cereal showed
little individuality. The only favorable fea-
lures were stronger. English advices and fair
shipping demcnd for low grades July opened
at I-SrC adyonca1 Will, ,vhnot ond s,1d OF so1>o
but the demand was small and soon satisfied, and
under 4 continuance of fair offerings prices re-
ceded to 57i.c, but again rallied with wheat and
sold at 81 3 c, finally closing at 5725@57K On
the afternoon board corn was dull and lower
Oats were less active and prices showed lower
range and were considerably influenced by wheat
July closed at 325sc on both regular and after
noon boards.
There was no particular channe in the general
situation of the provision market Pork was
again held firmly by the party credited with the
control of the trade and in pork, lard and short
ribs the actual changes witnessed in prices were
comparatively unimportant. Pork led in interest
though the business transacted on speculative
account was only moderate in all departments of
the trade.
Pork was held firmly, though for the near de-
Gveries prices luctuated through range of 3561
4bC IHG uulSluC uIGS Ol luC uiy, which pre-
vailed early, the same as on yesterday,
while the closings for cash May, June and july
were 5G7lEc lower than on the regular board
yesterday, and June and July 171kc lower
than the afternoon closngs. Trading was only
moderate and mainly on account of parties who
had outstanding contracts to cover. July closed
at SIS. 55 on the regular board and in the after
noon trade was lifeless and decline of 21sc was
noted
Lard was strong, with moderate fluctuations,
and prices at the close but little different from
those current at / o'clock yesterday. Trading
was only moderate and July, which was the
favorite, closed at SS375a on the regular board
and $3.50 on the afternoon, under very slight
trading.
Short ribs were steady, strong and without
qnotable change, and the trading fair.
The demand for cattle continues brisk and
prices remain firm on all descriptions of stock
Exporters, shippers and buyers for the dressed
beef trade were active purchasers and all the
good cattle were sold at an early hour, the mar
ket closing firm.
The hog market from first to last ruled dull
and prices weak with another decline of 5d10c
on packing and good heavy Some salesmen
fancied light grades were selling better. but it
was only Il fancy.
The sheep market has undergone 1ittIa or No
change the past twenty-four hours The receints
are about the same as for the corresponding time
last week, but the trade dull not only in Chicaro
but elsewhere. Prices remain S1@2.5O Der 100
pounds lower than last week.
CMcCormick, Kennett & Day, say: wall street
advices are not calculated to encourage the bulls
but we think the accidents are in favor of the
long side of wheat. The price is low, and crop
scare would cause rapid advance. We would
advise customers wishing to follow the short side
to sell August, thereby avoiding July, which is
thought to be manipulated.
Milmine, Bodman & Co. say: 1.-THE feeling
here is strong. The Milwaukee crowd mani
Tested disposition to sell and they are getting
quite and array of tailers with them now, and
we think the market is in a position, if we could
get strong stock market, or something the
other side the least bit favoring for the bull