St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-02-19
Pork Falls to $13 on the Curb, and
Closes at That-Hogs Inactive
and Shade Lower.
Corn Steady, but Showing Little Strength, and
with Bearish Tendency---Cattle Mar
ket SlOw--Flour Neglected.
The Bears Score Victory in Wall Street.
Vicious Raid on Pullman Pal
ace Stock.
CHICAGO.
rsnecial TELEGRAM to the Globe. |

was considerable excitement. The crowd
who have been manipulating the market
Jones, Ream ct al-could no longer cover up
the fact that they were tired Of the load and
wished to dump. Amour was reported to
have sold large blocks of pork and
ribs through brokers. Pork went down,
and there were some alleged sales at $500
but $3.50 was bid all the time, hence the
sales will not wash. Lard attracted but little
attention. On the call the reported failure
in New York of McGinnis Bros 81 Fearinh,
caused considerable selling and weakness.
They were the New York representatives of
W. T. Baker & Co., who were large sellers
to-day. The New York house had made no
statement, but it was considered Of much
Importance as they dealt in stock, grain and
provisions. McHenry, Cudahy, Stevens and
Gaylord were heavy buyers; Roleson sold
$4,000 barrels of pork in block. There
was another weak spot in the
curb and pork sold at SIS, recovered to
$18.1215 anb finally closed at S18.05. Wheat
opened unsettled with sales of May at
$1.OOX@1.O1 but become steady under
heavy buying orders. st. Louis bought heav
lily and so did Roche, and prices went up &c.
Then the ''big four'' and the "silver
greys'' i. c., the Adams crowd commenced
unloading and they offered right and left
with such immediate effect that prices went
off 14@115c. The st. Louis crowd were
also reported as unloading and this was a
very disheartening rumor for the bulls as
they were acting upon ST. Louis reports
of large quantities of wheat being purchased
in that city for milling purposes. On the
call there was very weak feeling and de-
probation in values of wheat strong nc,
while corn remained steady. 1t closed weak
on the curb at 997sc for May.
Corn showed very little strength, May
opening at 5911c, and sold up to 601sc and
6O4c, and toward the close, in sympathy
with the bad break in provisions, sold off to
5916c and 59Ic, and what few outside orders
there were came on the buying side. Re-
ceipts to-day we're 442 cars, of which only As
graded No. 2; trading large, June corn
selling about Hc over May and July
about &c above May. The sample market was
rather dull; sales, free on board, new mixed
selling at 5O@5115c; rejected, 44(9461lc,
SAOASS JSAAOh, IO/2NS1OS1 III $5iduC3 cOVSffS'
Corn has previously been braced by the
strong provision market, and now that it is
likely to lose that support it may go lower
than has been expected. The grain markets
now look as if they would be subjected to the
pounding process for time. The early pur-
chases made by the provision crowd, by
Scharwtz & Dupee and Cudahy & Stevens,
were dumped during the last hour on call.
The curb closing for May was 59A@59ssc
bid.
A NJ. Wright & Co. say: ''Wheat was ad-
versely affected at the opening by the soft
weather, dull and heavy markets at Liver
pool, and encouraging reports from the Hi
nois and the southwestern winter wheat dis
tricts which hincreased the desire of timid longs,
who have been following the big bulls, to
realize. Opening sales were at $1.01I@4
or a decline of 4@%c from Saturdays
close; declined to $1.OO15, but reports of
free buying in st. Louis and other winter
whert markets. coupled with aid from the
provision ring, who were anxious to
sustain grain to enable them to
steady hog products prices, rallied to $1.0155
but the advance brought all the early pur-
chasers back on the market and the down
tendency in pork also encouraged selling
and prices fell to 81 and closed on change
at that price. Advices from the best winter
wheat sections in this state report more win
ter wheat in farmers hands than is usual for
February, but say prices are not sufficiently
high to bring it out until the young plant is
further developed.''
Shepard & Peacock say: GA rather strong
wave got into corn when the days receipts
were posted and out of 442 cars
it was found but 40 graded No. 2. At the adj
vance caused by the local operators who
bought early, sold out, and left the market
practically without a support. The conse-
quence was pretty quick drop followed and
the market closed easy at inside figures and
a good fall in provisions was another cause
of weakness in corn and had considerable
influence, as the two markets bear close re-
lationship
Flour was neglected and the feeling one of
depression, and sales more than usually
light, with the better family and bakers
brands steadily held but all shipping and
low grades were dull. Winters were held
higher for the well known and desirable
brands, and it is thought will do better, but
otherwise the prospect is slim for business.
Rye flour is slow; buckwheat -four dull;
bran and all millstuffs in lighter request and
hardly as firm.
The receipts Of cattle were about the same
as on last Monday. The market ruled slow,
in fact during the early part of the day there
was no market at all and prices underwent
little OF no change, but were weak and uneven.
Some statesmen reported the almost invisible
decline of 5@10c. Taken altogether it was
an unsatisfactory market for so called fat
cattle, yet the chances were that all would be
sold. Had the receipts been 5000 instead of
about 5000 values would have declined $50
zoe, so uncertain was the demand. The
New York market was reported bad, ''but this
is about the usual news received from there
on Monday. Butchers and Gamers stock
was in good demand and firm, and but little
was doing in stockers, as is usual on Mon
day.
There were about 5000 hogs received to-
day, which is 5000 more than on last Mon
day. The market, especially in the
Rock Island division, opened with
considerable squirt of activity and few of
the first lots sold to spectators showed a
slight advance. In the Burlington and the
Northwestern divisions few lots also sold at
slight advance, but the activity and firm
ness was only temporary, the bulk of the
stock selling at about Saturdays prices, but
the market ruled rather slow at the close and
prices were a shade lower than at the OPEN
Ing. The quality of the stock was poor,