St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-28


$3.50; sold up on moderate buying by
shorts and scalpers, and closed at S17.7211@
1875 on 'change and on the curb at $3.50.
Lard shared with pork, opening
weak, and 71l@1Oc per 100 lbs.
lower at So. 25@9. .2719. May sold at 1920,
advanced and closed at s9.3S@9. .371a, but
the trade was chiefly local. Short ribs at
tracted little attention. The offerings and
demand were both moderate. Prices opened
weak at s9.221l@9. .25, and closed at s9.35@
9.37l.
Receits Of cattle 5000, against 3,876 last
Thursday. Exporters bought cautiously
and were particular in their selections,
wanting reductions from former prices
which holders Of good stock were slow to
grant, and bulk of sales were at old rates.
Common grades and butchers stock slow
and easy at So. OO04. so for COWS, S3.5O@4. 50
for corn feed and SO. 50@04.50 for disul-
lery bulls; stockers S4.00(0S4'75 and feeders
S5. 00T@15. 25; light steers s5.00Ge5.S0. Re
eeipts Of hogs 5000; market again dull and
prices sc lower on all grades. Shippers and
packers are doing nothing to speak of.
Skips and common light $5.50@6; packers
and shippers S6.1O@7.O5; choice light s5.75
@6.69. Receipts of sheeep, 1900. Buyers
operated with more freedom, the market was
firm and a few sales of choice were made at
better prices. Sales at S5.121I@95.60 for
good to choice averaging SO to 116 pounds,
and 54(d04. so for common.
A. NJ. Wright N Co.'S circular letter says:
''Thc available supplies Of wheat and corn,
including stocks at nineteen points
of accumulation east of the Rocky mount
aims and in transit from the west
to the seaboard and a1oat on the ocean des-
tined for Great Britain and continental Eu-
rope on the dates named compare as fol-
lows:
Wheat bu. Corn bu
S. East of Rockies, -. 20, 600 1881, 600
Afoat on ocean for Europe, IS, $4,000 2,520,000
Total March "a, 1894. AS, $4,000 20,071 0G0
Total previous week. AS, ,427 900 1S,5Ol 600
Total March 25, 1888. Ar, $4,000 20,115,000
Mccormick, Kennel & Day say: ''Wheat
is very cheap and purchases at present
prices will paya big dividend in the near fu-
ture or we are much mistaken"
Minor, Richards d Co. say: ''fhe market
can be summed up as being in very fe
verish state and is liable to go up or down
sharply. For the present, as there are many
influences that can be brought to bear on
either side, we would caution conservative
trading on either side; but our judgment
would advocate a purchase at about S71ac
for May We are not sanguine but that be-
fore May deliveries are over we may see still
lower prices"
Crosby 6, Co. say Of the days business:
'Wheat opened panicy with about the widest
and largest trade we have ever witnessed
Longs were slaughtered en- masse and shorts
covered heavily. The excitement was too
intense to read the trading, bat the iquida-
tion seemed complete, and the break attract
ed sufficient buying orders to work sharp
reaction of two cents, after which the market
ruled feverish the balance of the day. The call
was strong and higher under general buying
and the curb closes higher at S9a5cc May.
The situation has undergone change by the
days business, but we are reluctant to think
it permanent. The break closed about all
the outstanding trades, leaving the market
long about the stock in store. Provision
houses were free buyers all day and this led
to rumor that deal had been arranged
with Armour at the head of it. This, togcth
er with the reported freight engagements OF
one million wheat, restrained our local bears
from selling their lines again on the reac
ton and also was the main cause of the call
and curb advance. If when the excitement
quiets these reports are disprovcn, our
market will be compelled to resist another
selling pressure, or per contra deal can
bull it. In view OF the existing demoraliza-
ton we prefer to see some tangible evidence
to support these rumors before crediting
them''
Shepard & Peacock, whose failure was
announced on 'change to-day, viii probably
amount to SO, 900. Peacock was formerly
partner of McGeoch, and has been i'll bust
ness for himself about eight months. Their
suspension, they say, was not necessary, as
they had offers of assistance from many
friends, but they thought it best to close out
their trades and see where they stood, and
they expect to resume business in a few
days. Kenyon 81 Co. were also reported as
suspended, but cut no figure as their trading
was small A number of firms transferred
their trades to protect themselves. j. 7.
McCord of the open board was reported
failed, with liabilities $4,000 TO $4,000.