St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-30
The Markets Dead or Dying
for Lack Of Outside
Investors.
And the Sc alpers Have Only Each
Other to Make Bald
Headed.
Stocks Lifeless, Wheat Dull and Corn
and Cattle the Only Firm
Stuffs.
Unprecedented Large Receipts of Oats at
Chicago Cautious Advice from
Brokers.
CHICAGO.
Especial T elegram to the Globe.l

PAANSS
almost entirely local in their character, the
most striking feature being the independence
which corn showed of wheat, although the
advance on the former was mostly lost at the
close. Provisions were quiet and dull
throughout the session, although the COM
bination that owns the property
held all speculative articles of
hog product steady-their object
being to keep prices up with view to in
ducing outsiders to come in and buy; but
the latter have been tricked once too often
and are apparently willing that those who
own the provisions may keep them until
there is an actual demand for consumption.
Closing sales showed a decline of &c on
wheat and an advance of nc on corn and
219c on pork, but lard, ribs and oats are the
same as last night. A comparison of prices
week ago shows decline of 515c on wheat,
&c on oats, 21l@5c on pork, 5@779c on
lard and 215c on ribs, and an advance of &c
on corn.
The wheat trades as a rule were more anx
ious to close up their business and get out for
time as the feeling is unsettled and the
markets having passed the panicly state for
time, prices are so low that few dare sell it
and the majority are afraid to buy, as they
deem the outlook too uncertain. The packing
crowd who bought heavily yesterday and the
day before, were heavy sellers to-day, al
though Singer and Ream bought heavily at
the opening and sent brokers in
to sell when the maaket was up
The crowd, however, tumbled to their game
and sold the market down on them before
they had a chance to unload very much.
Poole, Kent & Co., Cudahy 81 Steners, Com
stock and Armour bought considerable, but
Comstock dumped his before the close.
Hobbs sold all day, and is said to have let go
all his purchases made on the break. A
250,000 bushel lot of No. 2 spring was ex-
changed for May at 49lc difference, suppos-
ed to be for shipment, which swells the
amount taken during the week TO 1,750, 900
bushels. The amount withdrawn from
store for shipment for the week, how
ever, is not over 100000 bushels.
but large increase is looked for the coming
week.
Corn acts independent and shows more
strength, having plenty of friends who be-
lieve in higher prices and look for decreased
receipts and increased shipments The short
interest in May is said to be large, and, as
the market acts stubborn they have begun to
cover freely, and it was chiefly due to their
buying that the difference between May and
June was narrowed from 1 114c to 19@5Sc at
the close f9s to-day. Baker, Lind
blom, Comstock, the Linn Bros,
and the packing crowd were heavy buyers on
long stuff while Ream and Trolley sold freely
at times with little effect Nat Jones disap
peared to-day and his friends say he had gone
south for rest, having scalped enough out
of the boys the past week to last him the re-
mainder of the season. David BOWS & Co.,
and other large corn operators who have sold
May and June against their stock in country
cribs are said to have covered
their shorts on the recent break, and are put
ting them out for June and July.
The wheat market was not so buoyant, or
trading as large as on previous days, and
most of the business was between local
scalpers, outside orders being light. Cables
were dull, and receipts good, with the pros
pect of an increase next week. Opening
sales were on a basis of SS7S@S915. May for
No. quickly declined to SS15, when liberal
buying by the "provision crowd" and the
execution of orders from the outside
showed prices upward. The tailers
all Joined in for scalp and prices appreciat-
ed to S94, from which they receded under
the pressure of free selling without cores
ponding demand and closed on 'change at
SS78@SSH. June ranged at 15s@1Mc and
July at 215c over May.
Corn was more active and stronger and
showed more life than wheat. The receipts
were IT'S cars AZ contract, against total of
124 cars yesterday. The shipping demand
was good for low grades. The move
ment for the week, however, shows
an increase of 1000 bushels,
of receipts over shipments. Liverpool was
stronger and better feeling was impaired.
The first sales of the day were at 56I015c.
At the same time it advanced under free
covering by shorts to 571Sc, when the boys
commenced unloading, causing a reaction
to 5000, and the market closed firm at 5636
@5619 BID. June ranged at 57@57Tsc, and
closed at SIC; July at 5S1l@571Sc, and
closed at 5S55c. Gilt-edged receipts of No.
2 sold at $4,000; new mixed, 51@51 &c;
rejected, 4Sc.
Oats were less active and the market def
cient in intrinsic support, the receipts for
the week being larger than any correspond
ing week on record. There was scarcely any
demand for futures except to cover shorts
and prices receded 114(@11c, closing re IN
der the last sales on 'change yesterday. Rye
was weak and without special change.
Pork was quiet, and although the provi-
sion ring managed to sustain prices, trade
was without features of interest. Fluctua-
tions were confined to a range of
716c per barrel, opening and closing
at $17.90@17.92 May, being the same as the
last sales on change yesterday. Lard like
pork was dull and featureless. AS leading
holder expressed it ''trade was dead.''
Prices showed range of 7115c per 100 pounds,
opening at $9.421l@9.45 and closing at
50. 3716(09. 40 May. Short ribs were dull and
scarcely sufficient sales were reported to es-
tablsh prices; opening at S9.45@9. Az
May and closing at S9.4259@9.45.
Packing since March L, 100000, against
133, 900 the same time last year. Estimated
receipts Oh nogS Ior ueAG week oV,oOu'
Receipts of cattle to-day were 1900, and
for the week 25, 574. Half of the mornings
arrivals were for Armour 81 Swift, who had
purchased them in Kansas City. There was
q good call for the limited offerings, and the
market was firm and shade higher on
choice shipping and dressed beef stock.
Cows sold at $2@4.50 as to quality; bulls
s3. 5O@4. so; light steers S5@5.5O; shipping
and dressed beef steers $5.o0@5.S0; export
steers s5.95@6.50 Receipts Of hogs
for the week were 1900 against