St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-09
Grain and Provision Markets
Notably Stronger, with In
creased Prices.
Wheat Active and Higher-Corn
Bu0yant Under Free Buying and
Diminished Receipts.
Pork Quieter, but with Prices shade
Higher---Lard in Poor Demand
Packing Statistics.
The Stock Market Extremely Dull and
Uninteresting, with but Sleight De-
mand for Stocks.
CHICAGO.
Especial Telegram to the Globe.l

Especial Telegram to the Globe
CHICAGO, March S.-The situation on
Change to-day presented an aspect somewhat
different from the uninteresting apathy which
has characterized it some weeks past In
the first place the markets were all stronger,
even than yesterday. There was more actiV-
ity and larger number of outside orders
than have been received in any one DAY
since the opening of the dull season. Inc
early strength and increased activity were
due to reports of damaged crops in several
states, which were accompanied by orders 10
buy. When it became known among scalpers
that there was so much buying to fill outside
orders the activity was increased ana sus-
tanned by the sudden springing up OF woe
spreading desire to cover short sales. Inc
opening quotation for May wheat was 3sc IN
advance of yesterdays closing figure. IN
der the influences above mentioned the price
steadily advanced to 9724c. 1t was noticed
that the largest bears were the heavy buyers
and there is little doubt that their purchases
were made to cover short sales. This dlspo-
sition on the part of the large shorts was
so pronounced early in the Gay as
to result in a sudden bulge of re. 1t Is SAID
that George C. Walker, who is suspected OF
being considerably short, bought steadily I'M
til May wheat touched 975sc, other short buy
ers spoken of are Messrs. Singer, Jones and
Ream. When the market had advanced to
its highest point of the day-97Mc for May
this short buying on the part OF the bears
gave way to an attempt to break 1t down
again.
In corn the buying was more general imam
in wheat and there were also more longs
selling out Lester, Kirwood, Geddes and
number of small operators were the largest
buyers, while David BOWS, Crosby and Lind
bloom were prominent sellers, the latter
selling over a million bushels OF May that
had been bought at prices that gave his Gus
toners a handsome profit. Large sales OF
''puts'' were made tonight on the curb at q
91lc each way from the closing prices and
although the majority of operators
regarded the situation as very
strong one there was rather
uncertain conditions that made many be-
lieve the advance of to-day would not be
fully maintained Monday. The market
opened stronger and higher, the strength be-
ing largely due to the advance in wheat, free
buying to cover shorts and takings by longs,
whose confidence was increased by diminish
ed receipts for the week, as compared with
the one Immediately preceding, coupled with
reports that next weeks arrivals will show
further diminution, and although the early
advance of 1c was nearly lost
on reports of large arrivals
at st. Louis, the market rallied
upon steady buying and closed firm at near
the highest prices Of the session. The posi-
ton of the trade was largely strengthened by
the prospective reduction in bound freights,
which will largely increase shipments of low
grades to consuming points. May opened
irregular at 5000 and 56sI in different ports
of the crowd, broke on heavy sellingto 56Bc,
rallied to 57ac and finally closed at $500
SIC with strong tone.
Oats were firm and closed 3s@15c higher.
The demand for May to cover shorts was
active, and sample lots on track met good
inquiry from shippers.
Pork was quieter and the fluctuations were
confined to narrower range, but prices
averaged shade higher, opening 10@1214c
over the last sales of yesterday. Prices re-
ceded 15c on light demand, and finally
closed 71S@10c under the highest figures.
Outsiders, as usual, are not disposed to buy,
fearing that they will be caught by those who
have for weeks put prices up and down as
suits their interest.
Trading in lard was ON q moderate scale,
and very little interest was shown by any
class of dealers, although prices closed 5@7L
over the last sales on change yesterday.
Short ribs were in fair request. The offer
ings were light, holders not being disposed to
sell and prices closed trif1e higher. Other
meats were quiet but were held with more
confidence. Legitimate dealers say that al
though the present demand for consumption
is light that the trade is gradually assuming
a more healthy position and better prices are
predicted as the season advances.
Packing operations were conducted on a
very limited scale during the past week.
Five or six houses were cutting small num-
Der of hogs, but none of these firms were do
ing even fair business. The supply of
hogs was small and unattractive, and there is
no encouragement to slaughter such inferior
animals, especially at the high prices de-
manded. The manufacture at present is
chiefly of hams, shoulders. and short ribs,
with very small quantities of light cuts of
pork and fancy foreign cuts of meats. The
returns of the packing of Milwaukee during
the past two winter seasons show the folio W.
ings hogs packed:
No. Weight.
1885 ...............- 293,5lU 2Uo
1854. .........-....- ....-..... 265, 467 172
Decrease ................... 2s,042 sc
Returns of the packing Of Cincinnati dur
ing the past two winter seasons show the fol-
lowing results:
Average
Average cost gross
per 100 lbs. No. weight.
ss2-3........... S6.44 425, 400 1851
1884. 5.23 365, 451 262.0S
= ~ IN %