St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-10-28
CHICAGO.
Especial Telegram to the Globe.I


IN the board to-day, and the only interest
shown was in politics. Among the Demo
Gratis the fact that bets on Republican ma
iority in New York were becoming very
scarce commodity was something upon which
10 reflect with pleasure keener than any Of
he developments Of the market. IA few
lays ago." remarked member of the board
1t the close of the session, ''the Republicans
we're very rash with their offers of bets on a
Republican majority in New York. To-day
:he Democrats ard Independents, with
plenty of money to back them, can find no
takers" Wheat held up better than the
other articles, though it was very quiet and
the close was the same as on Saturday for
October and only &c off for Novemb Der. Corn
fell off 1%544c, closing at about the lowest
figure of the day, and oats fell off nc on Octo-
Der, but closed steady for May.
Provisions were generally easier, year pork
closing 30c lower than on Saturday, lard 10c
lower and October ribs Coo lower, while No
vamber ribs were unchanged. The closing
figures on the afternoon board were No
vember wheat 7414c, November corn 415sc,
May oats 29c, year pork 81 90, November
lard 3G.7713, November ribs $500.
Tie exports from the principal Atlantic
ports Cor the past week were zoos. 900 bush
els Of wheat, $50, 900 barrels of -four, $50, 900
bushels of corn and 10000 bushels of oats.
This is decrease in wheat, but large in
crease in flour as compared with the previous
week.
The wheat crowd are in perplexed and
- 81
Of ontside speculation. They have about got
tired of the game of fleeing each other and
inc market has fallen into a very lifeless
condition. 1t seems about equally impossible
TO advance or depress prices
to any great extent. The fear of not being
able to make anything prevents short sales,
while the facts concerning the general wheat
supply of this and other countries present
equally strong reasons against buying.
While the majority of traders would hail a
boom with delight, they at sea as to how
10 bring it about. Prices have been at their
present low level, the lowest in years, long
enough, and nearly everybody seems to
think the market ought to go up, but the
stubborn fact remains that 1t doesn't go up.
Present indications are in favor of a free
and LIBERAL movement of wheat from first
hands from now on to the end of the year.
People can't go through the holidays without
money, neither can they do
their usual winter trading without
money, and about the only way
farmers can raise money is to sell something
from their granaries, and this they have de-
termined to do apparently, whether it is good
policy or not. 1t is reported that large GUAM
Titles of wheat are in transit over the North
:rn Pacific road, while the current receipts
o-day at Milwaukee, Toledo, Baltimore and
81. Louis are all large. Here we have about
he same of winter aud more of spring.
liverpool did not send US her usual dispatch
o-day, but Mark Lane was steady and slow.
Arrivals off coast were small. Farmers de-
iveries last week were 65, 000@70, 900 quar-
;ers. New York and st. Louis were lower on
wheat early. The opening to-day was at
about Saturdays close, but there was decline
of &c from that point, which was checked
by the covering of shorts, who looked
for possible dimuniton of receipts, should
the predicted cold and stormy weather in the
northwest come. This action and the report
of the taking of 10000 bushels in New
York for export frmed the market up and
the close on the morning board showed an
advance OF B@4c over Saturdays close,
but this advantage was lost in the afternoon
and the close was weak. October opened at
1880, ranged between 731Se and 732Sc and
closed at the lowest figures November
opened at 749sc, got nc lower, then nc
afer1,n ff,,o IL
pring was freely offered by receivers and
old at 7S%@735sc. Cash No. 3 closed at
$3.50, No. red winter at 74s<@75c and
No. at 66c. Sid. Kent, who went short
about 100000 bushels of wheat
short time, has covered at a handsome
profit. He is still bear for turn of or 5
sents.
wheat" says Robert Lindblom, s'hss been
ifiicted with smallpox during the past year aud
Ihunned by everybody. The consumers buy
Rom hand to mouth. The farmers sell faster
than ever. and between them they manage to
put great deal on wheat in sight. The farmers
This year have to sell double the Quantity of
former years in order TO raise the same amount
Of money, and l candidly believe that they have
sold larger proportion OF their crop than for
many years. They are like other SPECTATOR
ana cannot be expected to hold what
show an advancing tendency and their
bins will close tighter than clsms aud the bak-
ers, the millers and the factors abroad will all
lay in stock and make the visible supply dis
tppear as IL by magic. II is this differences in
sentiments, operating in all directions at one
nme, that oegets extremes, but time corrects
them all. The market continues relatively biober
than other markets, and now that il is near win
ter storage thisw continue, as wheat has in q
hlsner uegree speculative SIS well as legiti-
mate value Receipts of winter wheat show 8
tecided decrease the last few DAYS and farmers,
delivery OF spring whest are also smaller. but
.his viii not appear at receiving points for ten
aays yet. The export demand has revived TO
some extent and foreign sdvices are not a.
panicky as they were. With the banks full of
idle money cannot but believe that larye
amounts viii seek investment as soon as winter
storage begins"
1--WE are on the eve of bulge in wheat said
one OF the most careful observers on 'cnanga
this morning. Wheat VIII go up loo for No
yember, and possibly i5e. The Chicago marke;
has sold short over SS,0o0,OOO bushels. while
every other market in the country is long. Our
export demand is good as il ever is and every
inch OF vessel room for November sailing is nj
ready engaged for wheat shipment In u few
days exports OF wheat win
be much hesvier, but before
that time comes you will see boom in wheat.
have watched the wheat crowd carefully for
the past three days. There has been short sen,
right and left. but the shrewd ones. mind you,
have been buying right along and are buying to-
day
There was en- unsettled and weak feeling
about the corn market all cay aud less of An
effort to manipulate price. There appeared
to be but little fear OF any further mischiei
on the par. OF the clique, and what Httl.
manipulation WAS INDUCED in wss merely
BY the help of the legitimate factors Re