St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-21
A FIRMER FEELING.
An Advance Scored in the Chi
cago Markets and Clos
ing Prices the
Highest.
But Speculative Authorities Slow to
Indulge i'll Predictions as
to the Future.
An Unexpected Advance in Wheat-Corn
Quiet and Steady-Pork Firm
Lard Tame.
The Wall Street Markets Livened up by
the Settlement of the Railway
Traffic Difficulties.
CHICAGO.
lspecial Telegram to the Globe

Especial Telegram to the Globe.
CHICAGO, March 2O.-The markets on 'change
took an up turn this morning and hrmer 1eehng
was developed, closing sales tonight showing an
advance of 1sc on wheat hc on corn, 17Hc on
pork, and 10c on lard and short ribs, the mar
kets closing at the outside quotations Of the day.
The advance in wheat surprise to many
as the public cables quote dull and heavy mar
kets in England. The weather here was fine, and
the general tone Of the press dispatches
were favorable to the fall sown crops, and prom
ised early resumption of preparations for
spring planting. But the large BEARS who have
been such vigorous sellers for some time showed
disposition to let up, thinking that prices could
not always go one way; and many of them haV-
ing previously filed their shorts at good pront
they deemed it prudent to await further deVel-
opments, and they were in good position to do
SO. About the only feature in the wheat market
was the filling of few New York orders byPoole,
Kent g. Co., Hamil g. Brine, Lindblom, Schwartz
q Dupee, Counselman and the ''big two.'' The
purchases of Hamil & Brine supposed to be
for Armour and Kent, simply because Geo. Brine
was formerly Armour's right bower, and the local
crowd not being able to trace these orders, gen
orally surmise that whenever they enter the pit
that Armour is their principal and the cry of
'Armour is buying" is Immediately raised.
Lester the chief seller to-day and the largest
lot that changed hands was 100000 bushels,
although at the close of change there was
report that Ream had bought 1000 bus. from
McHenry, which proved to be false, and was
started by an idle operator who CHANGED to see
McHenry's account while he was in the pit, and
raw the figure five above a lot of 100000 bushels
that he had sold to Ream, and thinking that the
five represented 200, Immediately yelled that
100000 had been sold in one lot which would
have sent the market up a few points had it not
been at the close. The rumor was promptly
denied by Ream and McHenry, and damage
was done. H. K. Mathews a heavy local opera
tor, who trades mostly through brokers,
covered heavy line of short wheat to-day that
netted him handsome profit. Kershaw took
$4,000 bushels for export and late in the after
noon 100000 bushels were reported to have been
taken on direct orders from Liverpool freights
have declined to 15c per 100 pounds to New
York and an unusually low rate is obtained on the
ocean steamers. There is also number of or
ders here still untitled which have been waiting
the decline in prices of wheat and corn, and
lower rate to the seaboard.
A private dispatch was received to-day stating
that owing to adverse weather in India the wheat
crop in that country would not reach previous
anticipations while the crop in New Zealand was
particularly bad.
A. NJ Wright & Co. give the stocks of wheat |
and corn at ninet leading interior and seaboard
markets east of the Rocky mountains, in transit
from the west to the seaboard and afoat on the
ocean destined for Great Britain and continental
Europe. On the dates named they were as fol-
lows
Wheat, bu. Corn, bu.
United States east of
ne ROCKIES. ........ .30,2 ,217, 900 16, ,981 900
Ahoat on the ocean. is, 100000 1890, 600
Total March IS, 1884. AS, ,427, 900 1851 900
Previous week. .........4 As, $4,000 18,O47,OOO
Total March 18, 1888. .4S, 100000 1872, 600
Total March 10, 1882. AS, ,456, 900 13,SO2, 900
Total March 10, 1881. .46, 1927, 900 2O,143, 900
Boynton and Jim Love got to blufing each
other in the pit soon after the opening and the
former sold the latter 200, 900 bushels of May at
56Hc, which he afterwards sold at 561. Love
In speaking Of the trade said, 81 don't stand q
bluff from red headed man. 1 didn't want the
corn but took it and sold it out again with lot
of $4,000 bushels more Boynton who has been
strong bull on corn for some time sold 4OOOO
bushels Of his holdings and was followed
by Comstock, and small holders who
become scared. Lindblom and Bryant bought
quite freely for time. The brokers had con-
siderable fun to-day at Boynton's expense. Last
night he sent his errand boy to get certified
checks for S75 and S143 cashed. The boy got
the money on the S75 one and skipped. Four
policemen spent all last night and to-day looking
for him and the only trace they could find was
that he had been last seen in pie stand Boyn-
ton seemed to take his loss as good joke and
scalped enough out of the market to make it
up.
The call to-day was the shortest in year. last
ing nineteen minutes. The sales were AZ, 900
bushels Of wheat, 2S5, 900 bushels of corn, 500
tierces of lard and $4,000 pounds of short ribs
Packers are cutting very few hogs and butterine
manufacturers complain of the scarcity of leaf
lard, the largest establishments not being able to
get enough to run their factories to their full ca
pacity, as they have plenty of orders from all
sections and cannot fH them, and 14c has been
freely bid for crude leaf lard without obtaining
sufficient quantity.
Wheat opened weak and 1s@Ac below last
nights close. Cables were dull. The nervous
ness of timid holders was also increased by the
fine weather and more encouraging reports from
the wheat fields in southern and central Illinois,
and the visible supply previously reported. Open
ing sales at about the inside figures of yes
terday, being on basis of "a g @94Hc for May,
but the offerings were light, and the small bears
seeing the large operators on that side were not
disposed to pound prices with their customary
freedom and at once commenced to
cover which was quickly followed by large buy
ing by some of the heaviest operators, who were
filling eastern orders. Private dispatches from
New York reported better export demand and
there quiet INJURY here for the same pur-
pose, which stimulated buying by small opera
tors, and prices advanced to $3.50, with few
sales at 95A, and closed on change at 95kc. On
the afternoon call the feeling was easier, with
sales at s5@951S June ranged at @2c over
May, and July 25s@S. few sales of Septem-
Der were at 96@Ac.
Corn was quiet and steady and the inspection
was trife larger showing 232 cars, 81 being con-
tract, against total of 211 cars yesterday. For
eign advices are unfavorable, outside orders for
futures was small, and very little interest was
shown in a speculative way, the bulls being
rather disappointed in the visibly supply but
there was not much pressure to sell and about all
that can be said is that the market was ouiet
and comparatively steady without posi-
tive features of strength or weakness
No. 2 opened on a basis of $3.50 for May, sold at
56k@56Ic, and closed on 'change at $3.50.
Sample lots on track were in good demand from
shippers and shade higher. There was also a
better demand for lots in store from shippers,
No. selling at 54@54&c for receipts dated
March II, and closed at 54Ac. A sale made to
arrive after the 27th at 54Ac. New mixed was
50A @50%c, and rejected 45Ac.
Oats were destitute of features of interest and
prices for futures were without quotable changes.
Samples were more plenty and in fair request.
Rye was firm and closed about &c higher for
May.
Pork was firm and in better local speculative
demand and at the close of change an advance