St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-04-09

were quotable at sS.3o(as.a5 May was in
moderate request and sold at sS.35@s. 40,
closing quiet at sS.321l@s.9 95. June was
fairly active and changed hands at SS.45
@S.5215, closing steady at sS.42L
0S.45. Less activity was noticed in the
market for short ribs, but the feeling
was steadier and prices ruled 21S(05c higher
per 100 pounds, but were not fully supported
to the close. Sales of May were made at
s8.25@S. 35, and closed steady at SS.27@
S.2719. June ranged 10c higher.
The cattle market was again active and
prices shade stronger all around, with an
advance of good 10015c ON light cattle
say those averaging 1000 and under, and by
many it was claimed medium cattle
were 10015c higher. The best
fat cattle were quoted stronger
but not quotably higher Butchers stock
scarce and frmer; stockers and feeders
scarce and firm. The main cause of the ad-
vance on light steers was the sharp demand
for such from the dressed beef dealers on ac-
count of the scarcity of other suitable stock.
The market for hogs was generally slow
and prices 5(010c lower on nearly all grades,
with the chances that many would be left
over at the close. Packers we're not operating
to any great extent, and the shipping orders
were light with feeling of uncertainty per-
vading the trade in all its branches.
Trading in sheep was not so active as yes
terday, and prices were shade lower on all
sorts.
A. w. Wright & Co. say: ''There is in
fact nothing on the surface to justify con-
clusions of much lower prices unless they are
secured by reckless selling in the face Of
facts that dictate an opposite course, and
those who sell do SO with the odds largely
against them At the same time we feel
cautious in advising purchases"
Mccormick, Kennett 81 Day say: owe
think wheat cheap and the long side on soft
spots the one to follow. The accidents are
certainly all in favor of the bulls at the
phenomenally low prices. The market clos
ed weak, but we would advise buying the de-
ferred futures on any further decline for a
time.''
Crosby & Co. say: ''Wheat has shown a
stronger tone to-day, and its action has
gained it new friends The crowd is fairly
bullish, and will work on the long side, and
this feature removes the pressure that main
ly caused the recent break The bears are
very conservative, and show little pluck in
fighting any strength, and the bulls have the
advantage which they can press to higher
prices"
Milmne, Bodman & Co. say, 'We shall
expect very rapid markets now until the
shortage is well covered. The visible supply
will show a decrease for the week of 200, 900
bushels in wheat, and but a slight increase
in corn. There is no material increase in ex
port demand at the decline, and we see
no good reason for any material or
permanent advance in values at this time.
OF course we shall likely have violent fluctu
ations, as is always the case after large de-
clines, but these will come and 90 as the tide
of speculation may ebb or flow, and the mar
ket will be one very difficult for outside
operators to ride successfully. Any
changes in values that may occur now
may be attributed to local influences and may
mean nothing as to intrinsic values for legit
innate uses, in short it is likely to be great
big scalping market which outside dealers
had as well let alone perhaps. We do not
expect to see much further decline in corn
at present.
Crittenden & Harvey say: eve have been
told that to get a healthy market we must
sell it to point where Europe will take our
surplus, and in accordance with these views
speculaters and dealers generally for weeks
have been Systematically depressing
values by heavy speculative selling,
aided by favorable published crop
conditions, large stocks, reports of
firms going into liquidation, ETC., until
decline of 25c per bushel has been created,
which brings wheat to market at less than the
cost of production, and yet European mar
kets decline faster than ours do, and at the
decline show very little disposition to take
our offerings. We think there should be a
stopping place, and feel as if we had reached
it, and would buy wheat anywhere around
currant quotations and hold it, as we believe
it but question of time when home and
foreign consumptive demand will make it
worth more money than it is now selling at.
Corn looks worth the money, but is losing
friends. We think after while it will do
better"
Minor, Richards & Co. say: "We are not
prepared at present to strongly advocate TAX
ing either side on wheat, preferring to wait
and allow things to adapt themselves to re-
cent changes. We should see some improve
ment on corn from to-day's break; but on
any rally we consider it safe to SELL"