St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-18
UPS AND DOWNS.
The Markets Experiencing Only
Speculative Movements
and Those Small.
A Little Morning FURRY in Wall
Street, Reacting to Dull
ness.
The Chicago Markets Thought to be
Nearing Another milking"
Time.
The Longs in Wheat Changing from May
to June-Dismal Predic-
tions.
CHICAGO.


regular borrowers in good standing were
favored at sac per cent. while on small
loans z per cent. was asked, when the secur-
tiles offered were unquestionable. Orders
for currency from the country were light.
New York exchange sold at 25@40c prem
ium. Foreign steady at $4.85@4.85L for
shippers, sixty day documentary sterling.
The grain and provision markets were
lower during the greater part of the day, and
the bidding weak, and at the close on
the ''calr' wheat showed decline Of 175c,
corn 75c, oats Nc, pork 15c, lard 15c and
short ribs SC, from the last sales of Saturday
Operators were not inclined to trade freely,
and the business of the day was chiefly Of
local speculative character, although dur
ing the early part of the session there were
few outside orders received from
New York to sell wheat, and
some to buy corn and ribs. The local crowd
had only one aim in view-to make expenses
which many failed to do. Among the most
prominent operators in wheat on 'change
were Stauffer Schwartz & Dupee and Ker-
shaw, all of whom put out liberal lines OF
shorts, while Deacon Hobbs and Com
stock unloaded line of long stuff at loss
There was also some general selling of long
wheat by small operators. Bliss, Bryand and
Baxter sold corn quite freely on 'change,
while Comstock and Culver bought largely,
thetakings of the latter being for strong pars
ties for an advance, as they expect heavy
falling off in the arrivals as soon as the
country roads break up and have faith in an
upturn, but any material decline would cause
free trading. The general tone of the corn
trade is steady, and the only reasons assigned
for the break were the heavy receipts in St.
Louis, good arrivals here, (355 cars, 81 cars
contracD and the weakness in wheat.
On the afternoon call wheat was unusually
active. An unsuccessful effort was made to
break the market, and decline of nc was
secured. The sales aggregated 1,S50,0OO
bushels, Schwartz & Dupee, Brega, Spruance,
Nat Jones, Lester and Counselman being
free sellers, while the buying was done by
Lindblom, Bryant, Howell and Brine, sup
posed to be for Kent and Armour, Kershaw
and Cy' Cole, who took 100000 bushels
for Billy Murray, to cover part OF
his shorts, and is said to have
turned bull. Corn exhibited a fair de-
gree of life, with strong undertone. Mil
mine, Bodman q Co., and Swartz q Dupee,
represented the buying element, and
Baldwin Lester the selling, but only 4S0, 900
bushels were sold Provisions were dull,
with sales of $50 barrels of pork, and $3.50
tierces Of lard, but no ribs.
Anderson Fowler, of Fowler Bros, has re-
turned from New York, and the lard market
was expected to boom to-day, but turned the
other way under free offerings, the Fowlers
being the chief sellers. The crowd think
they are unloading in quiet way.
There was little shipping demand for
Minnesota wheat, and 1c more than the
regular No. price was bid, but holders re-
fused to sell at the present figures.
Reports received from the chief winter
wheat sections in this state, say, that while
the condition of the young plant is not posi-
lively bad, it is far from assuring an average
crop, and the indications for an early, or
even average seasons planting in the spring
wheat sections are not in any respect promis-
ing. Wheat was dull and easier in New York.
Public cables quoted dull and steady
markets in Liverpool and London and these
influences, coupled with soft weather had
tendency to weaken the confidence of
holders. The situation was also weakened
by an absence of outside buying orders
while the bears were disposed to hammer
prices puring the entire season, their object
being to cover their previous shorts at profit
and in this they were largely successful.
Opening on basis of 965S@15c. No. 2 May
receded on free selling to 951Sc, and closed
on 'change at 951lC95Sc, and on the call at
9514(03Sc. June 1uctuated between 1880
9S16c on 'change and closed at 9736@15c.
July sold from 9S5S@993sc, and closed at
9S%c. September sold on the call at $3.50
o7c, and closed the inside.
Trading in corn was moderate, the outside
buying orders being small, and many local
operators who have recently been on the bull
side were disposed to give the market the
customary support, and there was apparently
no great pressure to sell by heavy bears, the
realizing by timid holders and offerings of
moderate lots by shorts, depressed specula-
tive grades %c@Tc, from the last sales on
Saturday. No. 2. opened on basis of SIX c
May, recede1, to 56Tc, and closed
at 56H@%c May. Trading is
largely being transferred to June, and the
premium on the latter widening. Sample
lots on track and low grades from store were
in good shipping demand and steady. Later
on the call sales were at 5611a@565Sc, and on
the curb at 5656@56%c.
Trading in oats were quite brisk at the
opening. The free offerings created de-
cline of X@Ac on futures, hut afterwards
became steady and part of the loss was re-
gained. Tne shipping demand was fair at
327a@33c for No. cash, and BIC was bid for
No. 2 white, free on board. May sold at
351S@35asc, and closed at 351Sc.
CRye remained dull with a few trades in
May at 63S4@Tc and closed at the latter
price.
Pork was only moderately active. Values
were adversely affected by the weakness in
grain and prices receded 12116@15c per bar
rel, opening at $1S.221l. May sold at $3.50
and closed steady at s1S.1O@s1s. 1871.
Brokers at the close reported little more
outside demand at the reduced quotations.
Lard was less active, the demand for ship
ments being small and speculative, orders
being mostly to cover shorts; and the closing
sales recorded decline of 1219@15c
per 100 pounds, opening at S9.7219
@75c. May closed at $9.62l.
short ribs like other speculative articles, re-
ceived only moderate attention and although
there was no great pressure to sell prices
closed at reduction of sc per 100 lbs.
The packing of Kansas City for the winter
season of 1884 is reported 427, 162 hogs
,,cfl for fho %
decrease of 1922. The packing of st. Louis