St. Paul daily globe., 1884-07-02
Stocks Go Up and Grain Goes
Down and Bulls and
Bears Happy.
Provided They We're Bulls on the Up
and Bears on the Down Side.
Winter Wheat Coming to the Front With
Good Prospects for Big Crop.
A 100000 BusheI Sale Makes a Sensation
Where Millions Didn't Use to
Create a Ripple.
CHICAGO.
Especial Telegram to the Globe. |

board Is not over large at tne DesG, any HlIe
episode on the floor causes a good deal OF
comment. Yesterdays sale Of 500, 600 bush
els of wheat by Schwartz to Nat Jones was
the talk of the alley. Swartz's known bear
ish predictions caused most of the boys to
think that the deal was an individual specu-
lation of Schwartz's, but this was contradict
ed by zone who knowns." Said he; ''The
order was given to sell the wheat and
Schwartz was only lucky enough to find a
purchaser for it in a lump, instead of having
itscattered through half dozen hands"
E'Was any limit given on the order as to
price,"
''Certainly, but Swartz really got better
price than was expected. When he came of
the board and reported the sale he told his
customer that Jones had bid for 500,0
more.'
''Why didn't you let him have itl' ex-
claimed the customer Although there were
few developments in Wall street calculated
to exert special influence on values in grain
and such as reported were favorable to sell
ers, stocks during the greater part OF the ses-
sion showing advancing tendency, the market
were weak further severe break was re-
garded in all prices for speculative articles
and the feeling was dstrustful as to the fu-
ture. The largest activity was observed in
wheat circles prices of which suffered the
most severe decline. The bulls were appar-
emily without hope, while the bears, rendered
confident and aggressive by recent successes
were disposed TO hammer the market with
increased vigor and they met little resistance
from the bulls, the situation being largely
aggravated by the presence Of cash wheat
delivered on contracts, which the receivers
were anxious to get rid Of without
replacing it with longer futures,
and under the constant realizing pressure the
course of prices was almost steadily down
and closed at about bottom figures. The
bears appear to think that the present favora-
bic crop reports and the fact that the winter
wheat harvest is rapidly progressing, war
rants early arrivals Of new wheat in large
volume.
This conclusion however, is hardly justi-
fed by the example of the last few years. On
the contrary, farmers are not the needy hold
ers that they were a decade or two back, and
it is scarcely reasonable to assume that any
considerable quantities of the new wheat
crop will be forced on the market at the cur
rent prices.
Corn was weak on free selling and prices
suffered further decline and as with other
grains closed at 4 G14c over the lowest quo
tations. Only Il moderate business was re-
ported in the market for provisions which
was somewhat unsettled. Early in the day
the feeling was weak and prices were slightly
reduced on the leading descriptions, but
toward the close ruled steadier again and the
decline was recovered. Shipping demand
fair The receipts Of product were good and
the shipments were quite liberal of all kinds
Foreign advices showed weaker feeling
in that quarter, and Liverpool quotations
were reduced Is on pork and Cd on lard.
Eastern markets easier. The deliveries on
July contracts were rather free Of lard, very
small of ribs and light OF mess pork.
Trading in wheat was large, the specula-
tive offerings being liberal and shorts cover
ing The feeling was unsettled and prices
were lower, influenced by liberal deliveries
on July contracts which parties were anxious
to place, the fine growing weather for the
crops and harvest work, and the weakness in
New York and other winter wheat markets.
The visible supply showed decrease of Il,
600 900 bushels The market opened very
weak, and from 1g@4c lower declined &c
more, rallied &c, then declined &c, again
rallied about &c, luctuated and finally closed
about 116c lower for July, 134c lower fot
August, and 1 i e lower for September, thus
e /, u "A
terday
In the afternoon the markets were stronger
and closed &c higher, while the latest curb
trading was also firm. August closed on
the afternoon board at Ssh Sc and September
at S6}5c.
Corn market active and feeling unsettled
and prices lower. Large deliveries on July
contracts, fine weather and a limited ship
ping demand produced weak feeling. The
speculative offerings were very large and at
the decline shorts bought freely. The mar
ket opened i5G3atc lower, later rallied 80
sc, again declined about &c. fluctuated and
finally closed about &c lower for July, sc
lower for August and &c lower for Septem-
Der than closing figures on the 2:3O O'Clock
session yesterday
Oats were offered literally, but the demand
was light and prices a shade lower.
In pork very little was doing And prices
were without material change, offerings
small and demand light. July nominal at
$l9, 25@19.50.
A fair business was reported in the lard
market, aud prices ruled somewhat irregular
Early sales were made at 10(115c decline per.
100 pounds, but rallied again 5(05l{c. Ship
ping demand moderate. August sales ranged
at $125@7.32}5, and closed steady at 81 30
@7S2ls.
Trading was fairly active in the market for
short ribs. Prices ruled somewhat irregular,
opened 10@12}Sc lower per 100 pounds, but
soon rallied 5i9l0c and closed steady at me-
dium figures.
There was an active demand for the best
inquiry for export lots. There was little or
no change in prices vet most of the sales
men reported values generally shade
tirmer. Texans were in good demand and
sold shade higher Common native
butchers stock remains at very low figures.
There is some inquiry for stockers and feed
ers but the amount of business transacted is
light owing TO small supply
Prices in the hog market underwent little
or no change as compared with yesterday.
There was a rumor that Plankinton Il
Armour, of Milwaukee, had agreed to take
sill the throw outs, that IS those that were at
all marketable.
Mnmine, Bodman x Co, say; terhe weather
Is renorted fine all over ana harrest ,-.,.-rnss.