St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-19
BETTER MARKET.
Stocks in Larger Demand and
Bull Schemes Being
Developed.
A Bulge in st. Paul of Several
Points Predicted for
To-Day.
Prospects for Increased Values in
Grain Strengthening the Chi
cago Markets.
The Bulls Talk Cheerfully About Wheat and
Anticipate Heavy Export
Demand.
Lard Controlled by Packers on the Bear
Side and Pork Quiet Under
Armour's Thumb.
CHICAGO.

neayy and stocks on bond small so that the bulls
had pretty nearly everything in their favor. Be
sides this the latest crop advices from Europe
are not SO good as those We have been receiving
for the past sixty days. The weather in England
is unsettled and prospects not SO bright as a
month ago, but have improved some on late
rains. In Germany wheat is estimated as a little
under the average. In Austro- Hungary sweat
has damaged wheat considerably and a
medium yield is all that is ex-
pected. In Russia the government
estimate is unsatisfactory being poor in the
northern, central and southern DISTRICTS while
the prospects in Volga, Boland and Kouns are
good. The demand from the shorts continued,
and among the heavy buyers were Schwartz &
Dupee, Billy Comstock, Nat Jones, j. T. Lester
and Norman Ream. In provisions fair specu-
lative demand is reported, but confined chiefly to
lard and short ribs. Prices ruled somewhat
irregular and on the whole range averaged a
trifle lower. Offerings were far and the de-
lnand not particularly urgent. Inquiry for ship
ment was fair but the product is generally held
above the views of buyers. Foreign advices were
u little more favorable to holders and quota
lions in Liverpool were advanced to Sd on lard
Receipts were fair, and shipments quite liberal
stCndahy & Stevens are said to be bearing the
lard market, and as Cudahy is very shrewd and
rich operator ard as he has big packing house
Of his own,, and on a pinch certainly the vast
packing house of Armour8o fall back upon, the
chances are that lard will have to go down. Any
body who knows anything knows that it is like
"kicking against the pricks" to bull lard when
strong packer is bearing. Peter McGeoch learned
bat ;1o% ~,
ers were trying to bear lard
Wheat was fairly active, with a general up
ward tendency throughout the session, and the
closing prices on the New York board
were the highest Of the day. Outside orders are
increasing but are not remarkably heavy yet and
consequently trade was largely on local account
The market opened unsettled but quickly ad-
vanced selling up steadily A@,H under brisk
demand Influenced by the favorable conditions
noted above, to which may be added a strong
market in St. Louis. Later when the shorts had
pretty well covered the market eased OF q c.
but rallied again about 1c ON reported higher
cables and closed 4 higher than last quotations
yesterday for August, 17sc for September and
1l4c for October, the figures being CSC for Aug
ust, S61s for September and 86Xc for October.
On the afternoon board wheat ruled weaker,
August closing at 81 n c bid and September &c.
bullish tendency also pervaded the corn
market. The market was active, but the feeling
unsettled and prices iuctuated frequently with
in higher range and at times quite rapidly. The
shorts covered freely, influenced by the large
shipments, which were reported at 32e,000 BUSH
els, while the receipts were only COO bushels.
The stock in store is being reduced, and the
shorts uneasy about their outstanding con-
tracts. There also some heavy buying led
by Trego, Wheeler, Gregory Co., and j. II.
French 81 Co. Wheeler, Gregory 81 Co. appear
to have unlimited orders to buy September under
545sc. Freight room engaged for IFS, 900
bushels to-day. The market opened at about
the closing figure yesterday afternoon
to &c better and advanced steadily
&c fer August and 1c for
September. At this advance the offerings be-
came large, some lines of corn being offered in
the market it is said, and prices declined ss@Ac
and ruled quiet for while. Later there was
again short demand and prices sold up u c. the
highest point of the day. and finally closed about
1Sc higher for August and Il .e for September,
at 55lSc for August and $500 for September
On the afternoon board the market was active
and lower, August closing at 54llc bid and Sep
TENDER at 55c.
Oats were not as active as yesterday. There
was also less frmness and reaction occurred
from yesterdays outside prices, August closing
at 26al c and September at 20.
Pork was even quieter than usual, August
being nominal. August closed at S23.5O and
September at S22. 25.
Lard was moderately active bnt the feeling was
somewhat unsettled and prices irregular, and on
~ f1nin frs thpr
71lc, the closing being rather tame at medium
figures, III for August and 1872 for Septem-
Der.
Short ribs were active early in the day but dull
Ter later. Prices ruled somewhat irregular, and
S7.77 for September.
The general market for cattle was dull. and
prices weak from first TO last on all descriptions
of cattle. Up to the hour this report closed
there had not been q carload of shin
ping cattle sold, and only a few
loads were taken by dressed beef
dealers. Good cattle are 2O9e5c lower than at
the opening Of the week, and grassy and COM
mon natives 40045c lower, with little or no de-
mand to-day Many lots of fair feshy steers CT
1 LOCO and throwouts, too good for feeders and
not good enough for the dressed beef dealers
sold as low as 1900 4. 75 Cows and other com
mon an scrubby natives are 50g60c lower than
last week. There were only about seyenty-fye
head of Texans the market and they were
almost unsalaSle. Prices on Texans are 2oNsOc
lower than last week: in some cases 4Oc lower
Tie market is overstocked with veal calves and
prices 250t50c lower than the first of the week
the best not bringing over 1918, from that down
to $3.50. The mich COW market is also dulI
with the pens crowded full of from fair to good
cows for which there is little or no demand.
In the hog market there was brisk demand
at the opening for light sorts, and there were
rumored sales at S. 30. but SIS IS was the highest
and toward the close IS .50@s5.55 was about the
market. Heavy packing and shipping were
rather slow all the morning. and averaged sen
1oc lower than yesterday, the market closing
rather weak with good many lots left an
sold.
Said VIII Graham, speaking Of wheat: .rbe
shorts have al turned buyers; they all want the
stuff now and want it IN hurry, SO prices natur.
ally advance"
Geo Brine said rather hilariously: sits come
just as said it would, like a robber in the night
time. It's only begun to come, too
Ulrich King said: ssIm long on wheat. corn
and lard. When wheat is at sc and corn at &c
and September lard at 81 .62l., IN begin to sell
NOT before
j. W. Rumsey & Co. say: ssThe feeling here
is .bullish. and further advance is probable.
although some reaction after this bulge is uroba-
bic. at al events natural, but we certainly vouId
avoid the short side, as it now appears that the
English crop viii hardly be up to the average.
instead OF exceeding, as was expected. conse-
quently they win have to draw upon
rs and the tine quality Of cur winter wheat viii