St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-21

July 1, "a. Jan.1, '84. July1, 49,
Wheat in stock
in 10 cities in
Europe 49,. 1900, 900 %, 600 10, GOO, 900
Flour reduced
towheat bush
els.......... 100000 6,sOo.OOO 100000
Amount of
wheat afoat
to Europe. Il, $780, 900 II, OOO, 900 ID, 200, 900
Visible supply
of wheat in
America -. 3,4oO,O 900 S5,5OO,OOO 19, 400, 900
Total 49,. 45, 500, 000S82, 500, 900 $4,000, 600
In the provision pit trading was comparatively
light and an easier feeling prevailed. Nothing
to speak of is doing in pork, but the abnormal
situation is the cause of a good deal of talk.
Said prominent trader to-day;
81 presume there are 10000, perhaps $4,000,
barrels of pork short for July, bigger lot for
August, and more still for September. l happen
to know that the shortage in pork for the months
preceding the opening of the packing season
aggregates at least 100000 barrels. All the
while the stock of regular pork, too, is
being rapidly depleted. The anxiety of
the shorts are holding the price above $23 90 to-
day. In August this anxiety will be still more
acute. In September there will be a scramble,
and in October riot among the fellows who sold
what they did not have sense enough to skurry
around and provide against delivery day."
s'The short interest for the months of July,
August, September and October said Uric
King, II estimate at 10000 barrels All this
pork that is regular is being taken out and put
into other Styles so that there will be nothing
left for the shorts to do but to walk up and
settle. The alarm is so great already that the
short sellers afraid to enter the market to
buy for fear of booming prices
The principal shorts, popularity presum ed TO
be the Flowers, Alexander Geddes & Co.,
Robert Warren Co., Kirkwood & Co., are
believed to have settled for the near options
Some CT them, however, are reported to have
put out bigger short lines of September and Oc-
tober.
Wheat was somewhat less active, though the
business transacted will aggregate fair amount.
The market opened unsettled, partially on ac
count of the Harmon Spruance failure, prices
being somewhat unsettled and free offerings
quickly caused weaker feeling and a decline of
ole. Later there was rally caused by a
better demand, which was afterward laid to the
account of Nat Jones and Baker who were said to
have run the market up to sell on. Prices advanced
1@1Ac, but afterwards became easier and af
terdays last quotations. Among the large sell
lers were VIM. T. Baker, Cudahy and o. H.
Roche Baker disposed of 300, 900 at &c., Sep
TENDER, while Roche sold 2OO, 600, buying half Of
it back later The shorts in one or two instan-
ces were forced to cover, and sellers were plen-
ty at the top figure of the day. August closed
at S4Hc, September at 's54c. There is no af-
ternoon board Saturdays.
,,1of;,r
the feeling was somewhat nervous and unsettled.
The opening irrerular prices varying con-
siderably in different parts of the pit, and under
free offerings declined q c from the early outside
prices. Later the market frmed up in sympathy
with wheat, and prices advanced 1@11sc, but
soon ruled easier again and closed at 55c for
August, &c higher, 55c for September, the same
last sales yesterday, and 545Sc for October,
Scabove yesterdays close.
Trading in oats was only fair and prices ruled
somewhat lower during the session, but closed at
yesterdays figure.
Very little was doing in pork andprices exhib-
tied no change. .
Lard was not active as usual and prices
easy, receding 5@10c and closing rather tame at
S7.121a for August and S7.25 for September
Short ribs were in small demand and prices
were 5@10c lower, the closing being S7.72M
August, and S7.77ls September.
In cattle there was little or no change in prices
from those ruling late yesterday afternoon The
decline on fat cattle for the week is 25G130c, on
grass cattle T5@S0c, on cows and on
other common stock nearly dollar
The receipts of Texans were light to day, but for
the week they have been the heaviest for the
season. Good canning sorts sold down to $3.50
@360 and the best such as was suitable for
shippers and butchers sold at S4.00@4.25: one or
two lots of socalled corn-fed sold at 81 9004 g5
The bad break in half fact and common cattle,
together with the heavy receipts, seems to have
had depressing effect on stockers and feeders,
they selling down to ruinousy low figures.
There was brisk demand for all sorts of hogs.
with an advance of about 10c on choice light and
good mixed packing grades, while prime heavy
underwent little 10 change. Choice light
commanded premium of 10Gl15c over the best
heavy to-day, and it is generally believed that
fancy light will continue to so sell for some
time.
Hamilt s Brine, reviewing the market say:
1--WE have again to note increased activity in all
our markets during the past week. with very
marked improvement in the general feeling.
Wheat and corn have attracted more interest
than for several weeks past, while provisions have
raled steady, with no material change in values.
In the wheat market there has been noticeable
increase in the business done for outside account
for future as well As for spot delivery Ship
pers have taken hold freely, the movement for
several days past having been liberal, and en-
gsgements entered into for the near future which
promise to greatly reduce our already largely de-
peted stocks Should the demand continue for
j few weeks as active as in the recent past, land
indications all point in that directionl we will
enter upon the new season with granaries as
bare rs has ever been known in the history of
the trade. The important fact taken in connec-
ton with the exceptionally low values now cur
rent, leads us to look upon the situation
as one of great strength, and we
therefore say again to our friends that we be-
lieve purchases of wheat made upon all weak
spots will pay Well, and advise cautious buying
ON sill reactions in the market. Corn has also
shown great strength and activity during the
week, which has resulted in advanced values
Stocks Of the cor .rsct grade in store have been
further reduced by liberal shipping movement
which promises to continue fairly While we
regard corn as being much higher than wheat at
their current respective values, we can see moth
ing to warrant expectation of serious decline in
the former for some time TO come
Cyrus II. Adams said o-day: with stocks
in sight so lew, with prices the lowest on record
and with the quality OF the new wheat so su-