St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-19
A Bulge in st. Paul Of Several
Points Predicted for
To-Day.
Prospects for Increased Values in
Grain Strengthening the Chi
cagO Markets.
Anticipate q Heavy Export
Demand.
Lard Controlled by Packers on the Bear
Side and Pork Quiet Under
Armour's Thumb
CHICAGO.
Especial Telegram to the Globe. |

CHICAGO, July 18.-The markets opened strong
to-day under an active demand, and prices weLt
up steadily on everything except oats. Cables
were strong, receipts were light and shipments
heavy and stocks on bond small, SO that the bulls
had pretty nearly everything in their favor Be-
sides this the latest crop advices from Europe
are not so good as those we have been receiving
for the past sixty days. The weather in England
is unsettled and prospects not SO bright as
month ago, but have improved some on late
rains. In Germany wheat is estimated as little
under the average. In Austro- Hungary sweat
has damaged wheat considerably and a
medium yield is all that is ex-
pected. In Russia the government
estimate is unsatisfactory, being poor in the
northern, central and southern districts, while
the prospects in Volga, Boand and Kouns are
good. The demand from the shorts continued,
and among the heavy buyers were Schwartz g.
Dupee, Billy Comstock, Nat Jones, j. II. Lester
and Norman Ream. In provisions fair specu-
lative demand is reported, but confined chiefly to
lard and short ribs. Prices ruled somewhat
irregular and on the whole range averaged a
trife lower. Offerings were fair and the de-
mand not particularly urgent. Inquiry for ship
ment was fair but the product is generally held
little more favorable to holders and quota
tions in Liverpool wore advanced to Sd on lard.
Receipts were fair, and shipments quite liberal
Said an operator in the provision pit day:
''Cudahy & Stevens are said to be bearing the
lard market, and as Cudahy is very shrewd and
rich operator, and as he has a big packing house
of his own, and pinch certainly the vast
packing house of Armour to fall back upon, the
oh thot rG ,.,;ll
body who knows anything knows that it is like
''kicking against the pricks to bull lard when
strong packer is bearing. Peter McGeoch learned
this when he tried to bull lard while the Fowl
ers were trying to bear lard
Wheat was fairly active, with a general up
ward tendency throughout the session. and the
closing prices the New York board
were the highest OF the day. Outside orders are
increasing but are not remarkably heavy yet and
consequently trade was largely on local account.
The market opened unsettled but quickly ad-
vanced, selling up steadily aG@2s under brisk
demand influenced by the favorable conditions
noted above, to which may be added a strong
market in st. Louis. Later when the shorts had
pretty well covered, the market eascd off sSc.
but rallied again about 1c on reported higher
cables and closed &c higher than last quotations
yesterday for August, hc for September and
Ii c for October, the figures being S5c for Aug
ust S61s for September and $3.50 for October
On the afternoon board wheat ruled weaker,
August closing at S4Ac bid and September SEC.
bullish tendency also pervaded the corn
market. The market was active, but the feeling
unsettled, and prices fiuctuated frequently with
in higher range and at times quite rapidly. The
shorts covered freely, influenced by the large
shipments, which were reported at 326, 900 bush
els, while the receipts were only 130, COO bushels
The stock in store is being reduced, and the
shorts are uneasy about their outstanding con-
tracts There was also some heavy buying led
by Trego, Wheeler, Gregory 81 Co., and j. H.
French II Co. Wheeler, Gregory & Co. appear
to have unlimited orders to buy September under
545c. Freight room was engaged for 10000
bushels to-day. The market opened at about
the closing figure yesterday afternoon
TO &c better and advanced steadily
&c for August and 1c for
September. At this advance the offerings be-
came large, some lines of corn being offered in
the market, it Is said, and prices declined q @Xc
and ruled quiet for while. Later there was
again short demand and prices sold up 4 c, the
highest point of the day, and finally closed about
116c higher for August and Ne for September
at 55lsc for August and $3.50 for September
On the afternoon board the market was active
and lower, August closing at 414c bid and Sep
tember at 55c.
Oats were not as active as yesterday. There
was also less frmness and reaction occurred
from yesterdays outside prices, August closing
at 26slc and September at 26.
Pork was even quieter than usual, August
being nominal. August closed at s2s.5o and
September at S22 .25.
Lard was moderately active but the feeling was
somewhat unsettled and prices irregular. and on
the whole range there depreciation of seq
re, the closing being rather tame at medium
figures, $7.11 for August and S7 32 for Septem-
Der.
Short ribs were active early in the day but dull
Ter later Prices ruled somewhat irregular. and
declined 1o@15c, closing at 7.72 for August and
S7.73 for September.
The general market for cattle was dull. and
prices weak from first to last on all descriptions
OF cattic. Up to the hour this report closed
there had not been carload of shin
ping cattle sold, and only few
loads were taken by dressed beef
dealers. Good cattle are o0025c lower than at
the opening of the week, and grassy and COM
mon natives 40@45c lower, with little or no de-
Inand to-day. Many lots OF fair feshy steers Of
1900 and throwouts, too good for feeders and
not good enough for the dressed beef dealers
sold as low as 4.60@4.75. Cows and other com
mon an scrubby natives are 50@eOc lower than
last week. There were only about seventy five
head OF Texans on the market and they were
almost unstable Prices on Texans are 2O0aoc
lower than last week: in some cases 40c lower
The market is overstocked with veal calves and
prices 25G53c lower than the first of the week
the best not bringing over S6.75, from that down
to $3.50. The mich cow market is also dulI
with the pens crowded full of from fair to good
cows for which there is little or no demand.
In the hog market there was a brisk demand
at the opening for light sorts, and there ware
rumored sales at s.. 20. but 5.65 was the highest
and toward the close S5 500S5.55 was about the
market. Heavy packing and shipping were
rather slow all the morning, and averaged 5c1a
10c lower than yesterday, the market closing
rather weak with q good many lots left un.
sold.
Said win Graham. speaking Of wheat: ssThe
shorts have all turned buyers; they all want the
stuff now and want it in hurry, SO prices natur-
ally advance
Geo Brine said rather hilariously: .aIt,s come
just as I said it would, ike robber in the n;obt
time. It's only begun to come, too,
UIrich King said: 'sTm long on wheat corn
and lard. When wheat is at SIC and corn ct SIC
and September lard at s. -621l, III begin to sell
not before
j. W. Rumsey Co. say: ssThe feeling here
Is .bullish,' and further advance is probable.
although reaction after this bulge is prot,a.
ble at all events natural, but we certainly would
avoid the short side. as IT now appears that the
English crop will hardly be up to the ave,aoe