Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1884-01-18

ana SolQ Oh unOer nsaVy Cnef1DgS NANNY
on New York accounts. Lard and pork
suffered the most; at one time pork had
gone down 40 cents and lard 80 cents, but
under heavy purchases by Fowler Brothers
& Armour better feeling ruled and some
of tho losses were regained. The quotations
at the close were: May pork 1910; lard
So; short ribs 1929. The packing COM
panieschanged their attitude and were buy
ers to-day, supposedly covering shorts.
Mccormick, Kennett & Day say: "Wheat
was active and lower. Gables unchanged.
Seaboard markets were depressed and the
air full of rumors affecting the credit of
leading houses here and in New York, but
no failures of moment were reported, and
the sensational reports doubtless origin
ated with the bears, who are moving
heaven and earth to krecipitate panic.
Exporters took twenty eight loads of wheat
at New York to-day, and the visible sup
ply decreased 540, 900 bushels, but the bears
are still talking soc for May and selling
recklessly. We think a rally bonEd TO
come, although believers in lower prices
eventually ,'aDd would not sell wheat after
q 10c decline except for scalp. Corn is
easier. Bright cool weather, liberal re,
| cei pts and weakness of other cereals de-
pressed corn, but It was noticeable the
market reacted sharply on the least symp-
! toms of steadiness in wheat and pToyis-
ions. We think May corn a purchase at
about SIC, bat the bears talk 55c and even
SOC. The visible supply decreased 10o,-
900 bushels. Oats active and
lower. Provisions were weak
until the closing when there was
a slight rally, Fowler and the pack
ing company buying, but the absence
of demand and the accumulation of stocks
ceipts Of hogs moderate, buyers holding
off and market heavy. Provisions may GO
a little lower, bat We would buy on soft
spots.
Crittenden & Harvey say; Corn has
shared in the general depreciation, and
has averaged weaker in tone than for some
days. Holders appear discouraged, and
are to all appearances dropping out, ohoos-
ing to wait for a moro favorable outlook
than carrying their trade along during
the unsettled period. We think the gen
ersl feeling is one of confidence ia corn,
but cannot expect prices to hold if wheat
is 10 sell TO 85c for May as great many
predict. We would advise no short sales,
but think We would waituntiI the situations
have more hopeful tone and then buy it.
The market closes steady at quotations.,
and if bought now and followed down with
purchases will make good profit"
At the stock yards the market for cattle
was rather quiet, but the sales wera as high
as any time, especially on good sorts.
The receipts are greater than this
time last week, and there was
rather bearish feeling throughout the
market during the morning. There ras
no particular argument advanced why the |
market should rule weak, except the slight |
increase IN the receipts. New York was /
reported better yesterday, and the dressed |
meat trade has not suffered to any great |
extent. There is an improvement in the
stocker and feeder trade, owing to more
liberal supply and the presence of great
er number of buyers. Prices continue to
rule high, especially on good feeders, as
the dressed beef trade can afford
to pay more than the feeder and grazer.
There is good demand for stock calves,
has set in, is expected to increase.
Receipts of hogs show marked falling
off compared with this line last week.
Trade opened quiet and prices ruled
steady. In feet the early sales show a |
light advance, but these were mainly the |
prices paid by shippers and specplators
who had to get in early. Packers were
holding off until the above buyers had !
filed their orders, hoping to get their |
supplies at lower prices later in the |
day. In this they were disappointed, as
the shippers and speculators took all the
best as fast as they arrived, leaving the
common and ordinary for the packers.
There were about 10000 on sale, including
the fresh arrivals. During the latter part |
of the day light and common lots ruled |
5@10c higher, but good grades were with
out material changes.
Low grades of sheep are in excessive
supply and lower, by some statesmen
quoted % to SOC below the current prices
of last waek. Yet the best are yet
making good prices. We quote common
So O0@3. rs; fair S4O0@4OO. The
best mutton and fine-wooed ewes $4.75@
5; the best mutton and fine-wooled weth-
ers $5@5 so; lambs $5,50@5.75.
Only 100 horses were at the stock yards
last week, and about all were billed on to
eastern markets. Trade at the yards is
reported dull. A few sales are made from
DAY to day, but there seems little life to the
trade. The Dillon Bros, of Illinois, have
shipped twenty-eight pure-blood Norman
stations to their Texas ranch, and will
breed 5000 mares this year.
Chicago Financial.
Especial Telegram to the Globs,l