St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-14
TRe-published from Sundays Edition.l
STILL BU0YANT.
The Chicago Produce Markets
Continue to Show a Gain
OF Strength,
And Operators Talk EncOuragingly of
Decreasing Stocks and In
creasing Demand,
But the Financial Situation is Only Favor
able to Regular Bank
Customers.
Ugly Rumors About Wall Street Regard
ing Gould's Situation, But Credited
to Gould Himself.
CHICAGO.
Especial Telegram to the Globe. |

verse influences were the reported failure OF
heavy dry goods house in New York and com
blned effort on the part Of the bears to effect a
continuance of the downward course of the grain
market: In the provision pit things were quiet,
with what little interest there centered in
lard and ribs, but the days business all around
was less than any day this week.
As to pork, a prominent broker said to-day:
SIT isn't the general public the poor laboring
man who has to stand the racket of this corner
In pork. 1t is the scalper and the small fry
generally who have to pay $22 barrel for stuff
they never see. The laboring can get all he
wants for SIG. Do you know why? Well, its
because Phil Armour and the rest of the gang
know that he wont bring it back here to SELL
Wheat was moderately active and prices irregu-
lar, being firm and higher early, and then break
Ing of, but at the close August was Nc higher
than yesterdays last sales, and September u
higher. AT the opening there was q fair demand
and prices ruled strong and somewhat higher,
but later news was received of a large mercantile
failure in New York, when prices began to
weaken and fell off 1870 from the highest
point bat rallied q c again, eased off and after
come fluctuations closed firm at about the open
ing price September opened steady at S44Sc,
advanced to 849Sc, fell to S3ss C and finally rallied
reported and with the exception of small out
side trade the scalpers did all that was done.
Reports from different grain centers show a
much improved export demand From Milwau-
kee it is reported that 1l2 900 bushels of wheat
were taken there to-day for export Baltimore
follows with $4,000 bushels, New York with
100000 and Chicago with about $4,000, making
an estimated total OF over 800 600 bushels.
81 don't care what the other fellows told
you" said member of the board to-day, ''but
IL my opinion there is to-day better export de-
mand for wheat than we have had for three
years. During the last week 100000 bushels
Of wheat, including that afoat, has gone over to
Europe. am told by good authority that by
the end of the week there will not be in New
York more than 100000 bushels Of red winter
wheat for export. The stocks in London and
Liverpool are low in proportion. On July 4th
the combined supply of wheat in London and
Liverpool did not exceed 700,o 900 bushels Now,
with such figures before you, and the fact that
the new crop throughout the country is In no
condition TO be marketed, how are you going to
manufacture a bear argument
Corn was fairly active but prices were gener-
ny lower than yesterday afternoon. The open
Ing was apparently firm and salos were at some
advance over Yesterdays closing, but the de-
mand soon fell of, the shorts having apparently
pretty well cornered during the past few days and
bought sparingly to-day. The reported failures
In New York and the consequent weakening in
wheat brought corn down and August fell "a al
4 from the highest point, then rallied some
again. eased off and closed quiet easy at 50
Cor August and 51X for September.
Oats were more quiet and easier prites ruling
steady for the day with speculative
fruHa g1p and PaVrt ,r,i1Ii
The pork market was quiet but strong, July
aud August closing at s22.5O02s 90, or soc
higher than yesterdays quotations. September
and october unchanged, the former being
quoted at 92l.5O bid and the latter at S19.5
Year pork ranged at S12. 0O@12.25
Lard was less active; trading was in fact only
moderate, and good share of the days business
consisted of transferring outstanding trades from
august to September. August closed at S7.11H
and September at S7.S2h.
Short ribs were in fair request for cash and fu-
ture delivery, and closed at $3.50 August and
$7.S71l September.
There Il brisk demand for all the good
droves of native fat cattle and they sold quick at
equally high prices as for any day this week and
perhaps in instances higher. For really
good corn fed cattle the market closes strong for
the week and fully high last Saturday.
Grassy stock il also shade stronger than last
week, yet this sort of stock is hard to sell at any
time. There has been u large increase of Texans
and they have gradually declined, dropping 1Oc
to day making the decline on the ordinary run
of Gamers 150D20c for the week. There is q
fair business in stockers and feeders, but lean,
little things are selling at low pIces. Old cows,
common bulls aud the lower grades of native
butchers stock went again lower, making the
decline for the week equal to 2O6e3Oc. Gamers
and butchers prefer the Texans that are now so
plenty and comparatively cheap.
Receipts of hogs for the day rather heavy, for
the last in the week, and for the week chow o
large increase over last week. Owing to the
continued differences between the packers and
the commission men to the manner OF buying
and selling, business is not running along as
smoothly as formerly and to-days trade was rath-
er slow, prices uneven and the general market
unsatisfactory to all concerned.
Hsmmi & Brine say: Continued favorable
conditions for the winter wheat harvest now In
progress here had Il depressing effect on this
grain market, and local operators have for the
most part, been disposed to reduce their trading
10 minimum. Conservative dealers recognize
IN the current value Of wheat price much lower
than has been reached at any similar season for
the past twenty years, and with freights to the
seaboard considered very much lower price
than has ever been known IN this any other
primary grain market in the country. The most
Important wheat crops OF the world being US yet
unsecured they feel that any time
very sudden and radical change might
occur in favor OF holders; all the
contingencies OF weather yet before us; while
should the present promise of a crop OF excellent
quality be fortunately realized. II is certain that
the demand will be good. both for export and
consumption, at prices relatively higher than
those obtainablc for the inferior grades OF the
present crop now in seaboard warehouses We
can therefore reiterste our previous opinion, and
sly that while from the absence of activity incl
dent 70 the summer months, or from temporary
depression arising from spasmodic financial dis
turbances, values should still further recede, we
feel that purchases made about the present
range will pay we'll, and advise careful buying on
all weak spots,
"Corn has wildly luctuated during the week
Lower prices having ruled early in the week fol-
lowed by almost entire recovery. There is no
especially new features to note, the demand as
heretofore, keeping pace fully with the supply;
shipments having exceeded receipts during the
past week about zoo, 900 bushels. Crop reports
continue favorable and the situation. as com
pared with that of last week may be regarded As
unchanged; We feel that present prices are
likely to be maintained for some time to come,
the extremely light supply at all principal points
rendering any permanent decline improbable be-
fore the coming crop is finally received in as
good condition and with favorable yield as
the present outlook would lead US 20 expect
''Provisions-rhe advance In mess pork, which
took place on Monday last, and which has since
been fully maintained, exercised a similar in
fueuce on the whole list, and there was sharp
improvement in cut meats and lard This last.
however. has been wholly lost, and although the
shipping demsud has been about equal 70 that OF