St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-22
A Large Line of Transactions in
Grain, but No Marked
Advance.
Reports of Heavy Export Demand
Cause a Better Movement in
Wheat-Corn Lifeless.
Pork Shade Higher and Moderately Active
Lard Dull and Uncbanged-Cattle in
Good Demand.
No New Features of Interest in Wall Street
and the Prospects Are for Period
of Inactivity.
CHICAGO.
Especial Telegram to the Globe. |

CHICAGO, March 2l.-1ue Hdih0I0 o
,change showed large line of TRANSACTIONS
In grain. and although no very marked ad-
vance was secured on any article dealt IN
for future delivery, there was steadier tone,
with indications of increasing confidence,
while the movement in provisions was mod
crate, and closely confined to the ring OF
spectators from the so-called provision
crowd, who represent the packing interest,
either as packers or brokers, and outside
spectators were not disposed to touch any
article on the list and the demand for ship
ment to consuming points is small. 1t IS
proper to say, however, that the small re-
ceipts of hogs and the very low quality OF
the bulk of the arrivals coupled with the fact
that nearly all the marketable hogs received
are taken for the eastern markets is favor
able for reduced stockers and better prices
were it not that the speculative manipulations
have driven legitimate dealers entirely from
the trade.
Wheat was the leading speculative article
and trading was heavier than on any preVl-
Gus day this week. and at times in large
blocks. Poole, Kent 81 Co. were heavy
sellers early, and among the buyers were
Kershaw, Walker, Lester, Lindblom, Driver,
Brega and the ''big two'' Jones and Ream.
Armour and Kent were also reported TO be
in the market and to have taken good
line for bulge, but just how much it is
impossible to state. Both of these gentle
men are at present in New York and the
latest gossip is that they have formed pool
for bull movement in wheat and on every
break liberal purchases will be made. About
2:30 Mat. James, who had bought 13O,OOO
bushels of wheat early, entered the pit and
sold 500, 900 bushels, 100000 bushels TO
Brega & Co. at $3.50 and2OO, 900 bushels to
Driver & Co. at the same price. Brega has
been heavily short and was covering
The same may also be said OF
Walker, Lester, and Kershaw, but Drivers
purchase was for an upturn, which came
not, and after the call he sold it back to Jones
at951kc Lindblom also turned seller before
the close on Change, but his largest sales
were on the call, where he let out 1,25O,OOO
bushels at 95 15@95Ac, and on the curb 25O,-
600 bushels more at 95@95Bc. On the curb
the purchasers were Brega, who took $50, OOO
bushels; Jones, 200, 900 bushels; Lester 1OO,-
through Fleming Il Boyden, 25O, 900 bushels
The remainder was in small lots.
jennie Bearan tried to bull
the market and bid for 25O,O ON the bluff
but got it so quick that it made him turn
pale, and he went out and dumped it in the
corridor in small lots at the same price he
paid for it. There was also number OF
of n hnl other
ators who followed the example OF Driver
and Bearan and sold their purchases at a
loss.
Corn showed less life than any day this
week, and the market had tired look.
Many longs became frightened, and I'M
loaded their holdings while they had profit.
Among whom were Comstock, while the
most prominent buyer was Lindblom. The
feeling was weak from the start, and fuctu-
atious confined to &c range. The weak
ness was due to the report of hot corn in one
of the vessels in the harbor, loaded with 50,
600 bushels of rejected, put
in last fall, and was the
first vessel loaded. Inspectors say, however,
that the corn was cooled off and dried out
when discovered and will not have to be I'M
loaded. The decline in rail freights 1279@
15c to New York has increased the inquiry
from shippers for wheat and corn, and a
number of trades have been closed, Kershaw
taking over $4,000 bushels of No. spring
for which he gave May at 47sc difference or
9O4@9O15c for winter receipts.
David Bows & Co. have purchased corn
for shipment east and south, and have got
engagements for 500, 600 bushels with the
privilege of making it 100000. Rumors
of engagements of from 1000 to 1000 cars
of -four and grain and provisions were freely
circulated, and a railroad official who was
anxious to know exactly how much had ac-
tuallv been taken figured up 2, $50 cars, after
consulting the agents of the. different
railroads, and his statement is believed to be
nearly correct The loadings of wheat and
corn to-day at the elevators were the heaviest
for months, especially at the Rock Island
where the shippers are allowed rebate on al
rail shipments. The commission men and
brokers are working harder than usual tc
secure business and spend their after
moons and evenings in the corridors of the
leading hotels looking for customers, and
whenever they are fortunate
enough to meet one he is
Immediately taken to the theatre Oh
shown the town at the firms expense. Las
evening broker who boards at one of the
leading hotels, went into the corridor to lool
upa customer, and found him surrounded
by sixteen commission men and brokers
all trying to get word with him. The out
side spectators who want to have gooc
time with the ''boys'' should come in now,
as they will be treated better than after trad
Ing becomes brisk, as the traders will moi
have as much time on their hands then.
A. NJ. Wright & Co. furnish the following
from London letter, dated Feb. 30: 'EWhile
we have apparently heavy wheat reserves, &
majority of the surplus is of a nominal OF
uncertain character, so far as the milling
supply is concerned, very large per cent
being low grade India wheat, although il
figures as stock, not much over half is reall,
fit for grinding for flour and the good car
only be utilized by mixing with higher grades
from other countries"
Wheat in Liverpool and London was dull
Opening quotations in New York also noted
uecllne ol 4OU1Sc 4loH yesterdays cIose
and the general character of the weather wa
favorable for the winter wheat, but these in
fuences were balanced by reports of larg
export purchases yesterday afternoon, and
further inquiry for that purpose to-day
Opening sales for May were at 955S@96Hc
sold at $3.50, which brough
out large offerings and fel
to 94%c, which checked selling, and for
time ranged at 94sl@95c. The shorts GOV
e i