St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-09-06
Evidences That the Shorts VIII BE
Badly Squeezed i'll September
and October Deals.
Europe VIII Take About Her Average
Supply of American Wheat and
Flour, at Low Prices.
An Optimistic and Bearish View of the
Prospects Of the New York
Stock Market.
CHICAGO.
Tspecial Telegram to the Globe. !

GOTH, WHICH WIS again active anu IulHltu INC
predictions made in these dispatches to an
advance-based on active consumption and
inadequate supplies for this and the next month
the trading was of the same listless character
noted yesterday. But for the increased vigor
in corn, and the advance which it recorded, sell
ers of the leading articles would have been COM
pelied to accept still lower prices than were re-
ported. As regards corn il still looks as if the
small supplies and the continued active demand
point strongly to still higher figures for the old
stock in sight and to come forward, and the ad-
vance made to-day on fumres, to be filed from
the crop now growing is evidence that they are
likely TO sympathize to a certain extent with the
prices for this and the next month.
Wheat offers very little encouragement
TO buyers for an advance. Shippers for high
grades scarce and entirely Indifferent and the
adyices from Europe faIl to indicate that early
shipping demand can be looked for from that
quarter. But while the outlook offers but little
inducement 10 buy for an advance, short sales ap-
pear equally hazardous, except when made on
bulges for a scalp. Oats were dull, with
terial change in values, and provisions were in
active The closing quotations for the October
options were: wheat SO1s, the same as yester-
day; corn, 524, 11ac higher; oats, 261s, hc
higher; pork $3.50, unchanged; lard S7.45, sc
lower, and ribs 50. 81, IA lower.
Wheat has again been very dull, the fuctua-
tions of the day covering about &c, with no i'm
portant changes to note in the situation. Trading
still continues almost altogether local, outside
orders being very scarce, and, with other mark
cts dragging along about as inactive as our own,
there present indications of any material
change. Opening prices were about sc under
yesterdays last sales, being on q basis
of soc for October, and declined under the
influence of bright weather and unfavorable
European adviccs-a decline of 6@9d per quar-
ter beng quoted in Liverpool and London. At
this time Hutchinson was a free seller. Then
she irmness of corn began to effect wheat favor
ably and slight recovery took place, Carr & Co.
selling about 250, 900 bushels on the bulge. When
the shorts had covered prices again sagged off
and closed at S01ac for October and s1Sc for
November.
The results of threshing in the United King
dom haye, in many instances, proved disappoint-
ing, although the yield is still estimated as
better than the average, it does not come up to
expectations. In France the yield is scarcely up
TO the average, and that county is expected to re
a buyer of from so to 75, 600 600 bushels of grain
In AustrO Hungary, where the reports have been
more discouraging than from any other European
country, the yield has turned out better
than expected. The surplus avail
able for export is estimated at about
11,O0O, 900 bushels. Russia will also
have surplus, but the harvest there is very un-
even and in some districts wheat was failure,
but in the best cultivated and best producing
areas good harvests have been realized. In Ger
many wheat and rye fair yield. The late st
estimates place the amount OF India wheat avail
able for export at 4S,OOO,OO0 bushels, or about
22,OCO,OOO bushels more than last year. Taken
whole, the indications that Europe will
need to import full average amount of wheat
and flour.
Corn was very strong, with good shipping de-
mand, charters having been Dade for S37, 900
bushels day. of which it is said about 200, 600
bushels are of No ,. The continued shipping
demand has caused some excitement among short
sellers and the demand to cover September and
october contracts caused a sharp advance. Pros
pectiye receipts offer no encouragement to those
whose necessities will compel them to make pur
chases in this month the next, though the large
premium which has recently ruled for cash prop
erty must have the effect of stimulating ship
mems of ali available corn TO this market during
the present month. sit looks said George
Brine, ''as if sales of corn may prove very disS
astrous, as the stock of No . available for filling
Of contracts must then prove very limited. "
The shorts are now pretty well satisfied Of the
existence of q corner on corn, for whenever they
attempt to buy it in any quantity tho market
starts up them and they fail TO get much
The opening quiet at i O 2sc decline from
yesterday closing, but almost Immediately re
sponded to a demand from October shorts, thai
option advancing 5{c on heavy purchases by Nc
Henry, Baker, Schwartz and Dupee, Poole &
Kent, Bloom and others. 1t is noticeable tha
present sellers of corn are parties who have here
D
Parker, Caruther, Pickering, Milmine, Bodman &
Co. and others.
This last named firm made about the heaviest
deal of the morning by selling Sherwin 100000
bushels of October at 5214c. The September
option was also very strong on talk OF deal, ant
one of the features of the market was the
strength shown by November. That option hai
been weak for some days past but under good
buying for long account advanced sharply to-day
and September opened at 53lsc sold up TO Ssh
with rumored sales at 55is c and closed at 55c,
gain of 2sc. October opened at 5O4c, drop
TO 521sc on the morning board and closed on the
afternoon board at 521ac,an advance over yester-
Day of Il &c. November closed 1Lzc higher al
l61Ec.
Oats felt a little sympathetic strength from
corn, but only sold up sc, ruling dull and rather
depressed, with a good line of buyers ready to
enter the market when prices come down to wha
they consider q reasonable figure. September
closed at 261sc.
There was little more business transacted il
the provision pit early in the day, but the feel
ing was weak and unsettled and prices rulet
lower on al tbs leading descriptions. Later tn,
market was stealier and prices rallied somewha
but ruled quiet to the close. Foreign advices in
dicated an easy feeling in that quarter and Liv
Iard
bacon Eastern markets were quiet and prices
steady, and receipts and shipments were moder
ately fair. Nothing was doing in pork and price
were unchanged except for year, which was 2O
over, being quoted at Sic. Lard was traded il
moderately, but prices ruled 1O015c lower early
in the day Later they rallied somewhat anC
finally closed steady at 81 As for October ant
81 40 for November, loss of sc on the forme
option and 2l.c on the later. Short ribs were il
light demand and prices ruled weak, and 5@10
lower, the closings being st S10.12H for Septem
Der, loss of &C, and at S9.97h for October,
loss of 71.c.
Receipts of Texans and territorial cattle abou
200 cars, of which over 100 were through Texans
The demand was not active yesterday, an
the medium and common sorts, either natives o
rangers, were a strong 10c lower but the best
either natives or rangers, sold well as any da
this week. Shippers and dressed beef dealer
paid 81 20 to "a. .25 for the best Texans, but can
ning and light sorts were slow at the deciin
noted above. The quality and style of the terri
torial stock was not up TO the average and sol
rather slow Range cattle are selling at abou
following: Texans, S3.6OQS4.5O; Wyomings
S4.aOaS5.1 IS; Nebraskas. 81 5OQS4. 20; Colors
dos. s400@S4.1O; Montanas, s4.0oGS4.50; hal