St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-11-17
TRAVAIL OF TRADE.
A Heavy Grain Failure in
London Causes a
Weak Market.
The Usual Saturday Tactics of
Scalping and Evening
Up Deals.
The Belief Growing Day by Day that
the Bottom Price Has Been
Reached i'll Wheat.
The Suspicion Still Exists that Corn is Manip-
ulated-Provisions are Quiet and
the Feeling Easier.
& General Break in the Clique Stocks,
Union Pacific and Northwestern
Leading the Downward
Movement.
The Suspicion Still Exists that Corn is Manip-
ulated-Provisions are Quiet and
the Feeling Easier.
CHICAGO.
Especial Telegram to the Globe. /

Special Telegram 10 the Globe.
CHICAGO, Nov 15.-The board Of trade
markets were weak to-day and the feeling
was easier, the close generally being lower.
The report of the failure of Spartell 81 Co.,
grain merchants, of London, for SO, 200, 900
had depressing effect. and there were more
sellers than BUYERS. Wheat closed &c lower
at 734c for December. Corn closed I'M
changed for November. but &c lower for
year at 372se, and oats closed nc lower at
28lc for May January pork closed 21Ic
lower a. sl1.95 for January; lard 215c lower
for January at S6.S716, and ribs 21Ic higher
for January at IS .S7]Z.
Mr.. Nat Jones, who has lately returned
from New York. says that in his opinion
there will be no change for the better in the
grain trade until business generally i'm
proves. From his observation in the east
and here he sees no indications for a per-
manent revival of trade until after the pc
riod of dullness which always follows the
holiday season. BY that time the visible
supply will probably have reached its maxi
mum and bull operations will not be con-
sidered quite so hazardous
Wheat was the most active article on the
list, but the feeling throughout the session
was weak, owing chiefly to the large grain
failure mentioned above. The opening was
&c lower, and prices went down &c more,
showing decline of nearly lie from yester-
days last quotations. For the past few days
there has been pretty heavy buying of wheat
for the long account both here and in New
York, but some of this was sold out this
forenoon. New York parties, however, say
they are going TO hold on, believing in
higher prices for the future. Liverpool
reported more inquiry, but Mark
Lane continues dull and inactive.
and more of spring, with less at Toledo,
Milwaukee and Baltimore. New York early
was steady on wheat, but st. Louis was re
lower. The visible supply in the United
Kingdom for the last six weeks Is said TO
have been reduced 1900, 900 bushels, while
over GA per cent. of the present amount on
passage thither is from this country, This
looks as though the general wheat situation
of the world was slowly improving as regards
excess. Unless present holders lose heart
and faith and sell out, prices win not be
likely to go much lower, as the steady con-
sumption of the world from week to week
will soon begin to tell on the supply.
The receipts of wheat are so large here and
at st. Louis and elsewhere that bulling prices
Is hard work The big traders are apparently
going on the assum ption that the range of
fluctuations will be narrow for while. Last
night Ream was selling puts on December,
-
however, in privileges is not what it used to
be. The spreads are now so small that it is
not likely to increase much. November is
very dull, closing at re. December opened
at 73Xc, sold at 73A@73Tc and closed at
734@7336c. January opened at 74$4c, or
&c under yesterdays last sales, gradually
weakened and settled with slight fluctuations
TO 74c and closed at 7407415c. No. 2 spri ng
sold at 7214@72s<c, No. 3 at 561l@571Sc,
No. red at 7307315c and No. 3 at 6Ot06lc.
''There is growing confidence in wheat" said
G. S. Everingham, "'not only here but in other
markets, and Toledo. for instance. has advanced
about Sc while this market advanced &c. This
books to us like healthy sign. Everything pos
gible has been used TO depress wheat, such as
large receipts, limited demand, the Consequent
increa.e of stocks and general stagnation in all
branches of business, caused by the unsettled
state of polit al affairs. After severe and pro-
tracted storm the most reasonable thing TO look
for is clearing weather."
Corn was depressed by Increased receipts,
Gne weather and an absence of speculative
DIT shipping demand from outsiders. 1t is
supposed that the November deals are pretty
well closed, and the increased arrivals encour-
age those who short for year and longer deliv-
ar;a 10 ast holi hat
become larger as the year advances and that
prices will shrink as stocks augment. As TO
the trade, what there was of it, there was
little besides scaping and it was very bear
ish. A. NJ. Wright and one or two others
made some small purchases and Baker,
Baldwin, Champlin and two-thirds of the
crowd were sellers in intention at least. No
vember was weak and dull, opening at 42Mc,
sold at 421l043c and closed at 42X(043c
December sold at S75s@Ss3sc and closed at
37M@377Sc. Year was the most active
future dealt in, opening at SSasc, sold at
37S1@3s36c and closed at 379<@37Xc. :
Oats were dull, the decline for the day
amounting to &c. clutch" took $4,000
bushels of May at 2s%c and Press took lOO,-
900 bushels at 2s2lc, which was the closing
figure for that option. November closed
at 26c
Provisions were quiet and the feeling cas-
ser. Spectators were not inclined to do
much business and shippers we're favored
with but few orders. Foreign advices
showed further decline of 15c in bacon,
and eastern markets were quiet and steady.
Pork ruled 59l0c lower and closed axe
tower st $11.35 for January and &c lower at
81 As for February. Lard was duh and
closed 216c higher for November at S6971<
and aye lower for January at $6S71<.
Nothing was doing in ribs. but prices at the
close were nominally 21Ec higher at s5.s7%
for January and &c higher at s5.97X for
February.
At the stock yards there was about the US
nal Saturdays business. The supply of cat
tle. although large for the last day in the
week. left only small number for the open
market Half of the fresh receipts were
owned by the dressed beef operators, and
came direct from Kansas City, so there was
Rarely sufficient left TO make a market or es-
fablish prices. The arrivals for the week
will reach about As, geo, aud prices have de-
rlined from as to soc per 100 on so-called fat
native cattle Texans have also declined,
but northwestern rangers have ruled fairly
steady.
rl,a b,ey nm a vlxef was active and < To 10c