St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-10-13
Wall Street Tells the Same Old Story of
Weakness and Depression.
CHICAGO.
lspecial Telerram 10 tho Globo.l

material decrease III the receipts here and at
Milwaukee and Toledo. On the other hand, the
weekly movement indicated large increase in
the stock here, and the statement was current
that the next visible supply statement would
show an increase OF 5000, 900 bushels Scalpers
were trading moderately for hourly turns, but
there were no outside orders to speak of, and
the tendency was Us usual on Saturday to close
up deals rather than carry them over Sunday.
The market opened shade under yesterdays
last quotations, and though it exhibited degree
of stubbornness that is somewhat surprising in
the face of increasing accumulation, it succumbed
o the hammering and almost steadily settled q
q &c and closed at the lowest figures of the day
October opened at nc and went down to a close
of 1850. November opened at 1870 and after
gaining &c closed at 7S1sc. Car lots of No. .
spring sold at 765s @7T15c. No. spring declined
lc and closed at 6a12@63hc cash No. = red
winter closed at 79l4 GD7oHc and No. at &c.
The market to-day said close observer of
the course of this cereal, ''was merely an exhi-
bition of determined grit on the part of heavy
holders to keep prices up against the persistent
attacks of sellers. 1t is the same battle that has
been going on for a week or two, aud which has
resulted in keeping the Chicago market higher
in proportion than at any other prominent point
away from profitable shipping basis seems to
make no difference with the men who for private
reasons, wish to show their strength and power,
and who want, beside, to get out of deal entered
into at higher figures and from mistaken circum-
stances Why it should be thought u commeudable
act to sustain market at an umwarranted
and purely artificial elevation is a puzzle. So
far actual business is considered, it would be
greatly hnDaitpd W latfiuu ha TO
point that would cause free sales at home and
abroad, and it is very doubtful, to say the least
whether such course will prove
to be Q kindness to the farm
ers who have wheat to sell, but who will
hold it as long as they see any chance of getting
higher prices"
Corn was the only article that attracted much
attention and the interest manifested in
this was not due to legitimate causes. but to the
fact that the old clique began to show its hand
andtghtened the grip on the October option,
and those parties who had about concluded that
there was no more danger from the "Hidden
hand" il the deal found out their mistake AS
indicated in former dispatch the decline Of the
last few days was essential part of the game
to lull suspicion and encourage the boys to sell
short, which they did. The special drive Of to-
day in October which opened
&c higher at 551.c, and in an hour
OF more had advanced nearly &C,
with rather lively buying by the shorts Novem-
Der followed, but at much slower pace, while
year and May remained quite steady under the
circumstances. Now that the weather has i'm
proved for drying corn, it may be that the clique
will conine their operations to the October option
and allow November to take its own course for
time, as it might be dangerous to try to corner
November with present prospects. The mana
gers were helped along in their
work to-day by the tenor OF foreign
advices, which were ''strong" on corn,
with an advance of 6 pence per quarter at Lon
don. Our receipts here were light $50 cars)
and New York and St Louis were both little
higher Unless all signs fail there will be music
in the air again before the close OF the present
month. Carr wired a responsible st. Louis
house that in his opinion all options this side of
January were practically cornered. They re-
piled that in their opinion there wonld be enough
No. corn to surprise the manipulators that the
crop prospects were never better. and that corn
would be marketable early in large quantities
The highest point reached for October was 57l4c
axe above yesterday 5 close-and the close was
at 56A c-about &c above. November opened at
SIC, sold up &c, and closed at
$3.50, gain over yesterday Of &c.
Year closed sc higher at $3.50.
Oats ruled steady and firm for cash and fu-
lures early in the day, but closed up rather
easier for the latter. A New York house sent in
order for $4,000 bushels Of cash for immedi-
ate shipment, but owing to the small quantity in
store the order could not be filled. That guam
tity could only be secured by towing boat
around from house to house, which would in
volve too much expense. Closing figures were
4 lower for May at 301. C and unchanged Oh the
other active options.
Provisions were very quiet and trading lighter
than for several days past. Foreign dispatches
showed a reduction OF Sd In lard, but other arti-
cles were unchanged and eastern markets were
quiet. Prices here ruled easier and averaged
lower on all the leading descriptions.
Year pork opened 2Ilc higher
at Sf2.67S, went steadily down TO a close OF
S12.37H. Lard Was inactive. opening SC lower
and Immediately taking a downward course,
which brought the October option to $3.50 at the
close, decline Of 10c from yesterday, and the
November option to S7.27h. decline Of 221ic.
Nothing was doing in ribs and the October OPP
ton closed steady at 50. so; November the same
at S7.62, and January 2Hc lower at S6.571..
Range cattle were in good demand and the
Texans and westerns sold shade higher.
Among the fresh receipts were 103 ears Of Tex
and westerns or say about 1000 out Of 1000
arrivals. The offerings were rather heavier than
expected, more than double the number Of last
Saturday, which would indicate that big run is
due for next week. The general market was
fairly active for Saturday with prices rather firm
considering the number sale. The current
quotations are about as follows: Texans, So. 500
a.75; Wyoming and Montana Texans, 50 BOG
4.cO: Nebraska. Wyoming and Montana natives,
sz.1OG5.25. The Northwestern Cattle company,
Of Montana, have marketed this week several
droves that made % 25. Western bulls and tail
iDgs make sz.50G3.60; western COWS, $40 to
$40.
The hog market was fairly active, yet pr1ces
were strong 5410c lower on packing and me-
dunn sorts, while fancy heavy and Philadelphiss
cold equally &c high as any day this week. Light
sorts we're neglected and easier. Assorted skips
were scarce and steady, as Everybody as the
saying il, seemed TO want mixed and medium
The receipts were greater than anyone looked
for and would indicate big run for next week,
with estimates running from 10000 to 10000.
Common AID rough packers are selling at 4 round
about 8 -e0z,510, good mixed aud medium 8. %
G5.5O. and the best heavy s5.eO15.7o, with
Philsdelphiss and fancy heavy at s.. soG5.eO.
Reviewing the market. HAmill & Brine say:
The past week has been entirely devoid OF the
excitement which characterized the previous
ore. closing quotations to-day showing no ma
te-ial change in grain provisions from those Of
: week ago. II the early part Of the week there