St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-27
Corn Continues to Find Lower Level
Day by Day-Year Three-Quar-
tiers off at the Finish.
Provisions Unable to Stem the Tide Of General
Depression--POrk From Ten to Twenty
Cents OF.
Wall Street in a Chronic State of Democrat
ization-The Deal in st. Paul q
Deep Mystery.
CHICAGO.
Especial Telegram 10 the Globe.J

ouuS or pears In wheat there was an IN
dercurrent of strength, but it was merely an
uDdercurrent- Prices ruled 4 to &c higher
than Wednesdays close during the early
part Of the day, but at the end the figures
were the same. Corn was very quiet and
the little business doing was at somewhat
lower figures, the close being at about the
lowest point of the day. Year suffered the
wednesday. January fell of &c and May
sc. Oats were dull and unchanged. Pro-
visions ruled heavy all day, breaking off
20G221Sc for pork, Toe for lard aud 121$e
for ribs. Closing quotations were: Febru-
airy wheat 72$lc, year corn 35c, January
S45Sc, May oats 2Slic, February pork S1O.S5,
February lard s6.621E, February ribs S5.5915.
On the curb wheat was weaker. Privileges
sold B@Ac from the market. Wheat opened
features being small receipts and the reports
that the Minneapolis Miuers' association had
advanced prices &c in that market There
was considerable stuff offered at the opening,
but the market took it all without much of
break, the close being about &c below the
opening and the same as on "Wednesday 1t
being holiday in England, the board was
without its usual cable advices aud quota
tons, but the f'rmness Of buyers and holders
in the northwestern regions was of
itself enough 10 create a similar feel
ing here aud at New York.
II it were not for the great mountain of Wis
IDLE supply which rests on the market like an
incubus, there would in all probability be
a substantial improvement in prices, aud
there may be some advance even with the
present load to carry along. Receipts to-day
were unusually light here and also at Toledo,
but larger at Milwaukee aud Baltimore The
stormy weather and blockaded roads had
something to do without doubt with the dim
mutton Of our arrivals from 24l cars We'd
nesday 10 los cars to-day. 1t is quite likely,
however, that receipts will continue some
what limited during the winter months, as
the movement last fall was large and free
and those who were compelled to sell did so
without standing on the order of their selling.
Now parties holding wheat are able to carry
it until spring, and the disposition to do so is
growing. A gentleman on the floor to-day,
from Duluth, who has a house there and one
at Milwaukee, also, aud, having large bust
ness OF both points, should know what he is
talking about, says there will be a material
falling of in receipts in the next thirty or
sixty days, as farmers have not been selling
to any extent forthe past fortnight, and the
large arrivals recently from the northwest
comes from accumuatious at warehouses
along the line of railroads. He thinks the
farmers have already disposed Of enough of
their surplus to provide for pressing wants,
and will now hold the balance for
better prices. 1t is felt that
prices cannot go much lower, and
they may advance few cents bushel, to
say the least. At any rate the statement of
brokers generally is bullish, but they are
equally positive that there will not be much
trade nor any material change in prices dur
ing the balance of this year. New York was
&c higher, and private advices from there
said that the bears in that market were short
about 5000, 600 bushels, and that big con-
test was likely to be seen between the two
parties. T. NJ. Baxter is declared By some
traders to have bought a great deal of wheat
and TO have apparently hung onto it ALL
Baxter Is said to have begun buying in the
September corn deal, and he is now appar-
emily buying and holding on to great deal
Of wheat.
The corn market was very dull and the
large receipts had depressing effect on
values. The clique gave the market no sup
port, and the indications are that no attem pit
will be made to bull the year option, though
it may be done at the last moment. Out OF
800 cars received, 14S graded No. and four
more were labeled No. l. Parties seemed a
little shy, however, of selling much, as prices
are pretty low already, and If there should be
an advance in wheat it would take corn aud
oats along with it to some extent. New
York and st. Louis were both steady on corn
at previous quotations, and it was felt
at the former market that the flu
ture Of corn was very largely a question of
receipts. II these should continue liberal or
should increase much, there would be little
or no improvement in prevailing prices, as
the demand for corn in this country from
whiskey and glucose manufacturers has
fallen off largely owing to overproduction in
the first case and the cheapness of sugar in
the second. The longs unloaded moderately
and under their operations year declined &c,
closing at 35e, and January sc, closing at
345kc, while the deferred options were less
affected, May closing &c lower at 371ze.
Provisions were weak and lower. The
opening for pork was steady at Wednesdays
last prices, s11.O71S for February, but de-
cline set in early and continued to the close,
which was slO.S5. January closed zoe
lower at S10.75. Lard opened 21Sc off, and
followed pork downward, closing 10c lower
than on Wednesday at $685. for January
aud Sc 62]< for February. Ribs opened 5@
&c lower, and also went steadily downward,
closing 121Sc lower at s5.5215 for January
and s5.7515 for February. Geo. Stewart &
Co. were large sellers of pork, and, while
they gave no names, it was set down that
they sold for Sid Kent or for the Chicago
Packing company, or for the Murphy Pack
ing company, or some one or another of Sid
Kent's many aliases.
''When did Kent and old Hutch make
profitable venture; wonder to whom it goes
down." asked trader who had nothing more
profitable to do this forenoon than TO make
mental speculation. You see they own four
packing houses. and have outside partners
in each, and, besides, speculate in their own
names. Now, if they make money, should
think there'd be a temptation to put it down
to Kent and Hutchinson, and if they should
lose money should think there'd be temp
tation TO put it down to the Kansas City
house, and divide the loss with the partner
there, or to the Des Moines house, and d.
vide the loss with the house there, or to the
Murphy house, and divide the loss with fat
John Tyfel."