St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-10-28
Spectators Doing Much
More Political Guessing
Than Cereal Trading.
The Democrats Hunting for Re-
publican Bets on the Re
suit in New York.
The Visible Supply Spectre Haunts
the Wheat Crowd, and They
Trade but Very Little.
Germ Closes a Trife Over a Cent of,
and Oats and Provisions on
the Down Grade.
Wall Street Decidedly Uninteresting, and
Quotations on Leading Stocks Slow
Few Hopeful Signs.
CHICAGO.
Especial Telegram to the Globe.l


IN the board to-day, and the only interest
shown was in politics. Among the Demo-
,rats the fact that bets on a Republican ma
ority in New York were becoming a very
scarce commodity was something upon which
20 reflect with pleasure keener than any of
me developments of the market. "a few
lays ago." remarked a member of the board
II the close OF the session, ''the Republicans
we're very rash with their offers of bets on
Republican majority in New York. To-day
he Democrats and Independents, with
plenty Of money TO back them, can find no
takers" Wheat held up better than the
other articles, though it was very quiet and
the close was the same as on Saturday for
October and only 15c off for Novem Der. Corn
fell off 1$59Ac, closing at about the lowest
figure OF the day, and oats fell off nc on Octo-
Der, but closed steady for May.
Provisions were generally easier, year pork
closing Doc lower than on Saturday, lard 10c
lower and October ribs Coo lower, while No
vembcr ribs were unchanged. The closing
figures on the afternoon board we're: No
vember wheat 74Lc, November corn 41Mc,
May cats 29c, year pork S11 Co, November
lard &G.77N, November ribs $3.50.
the exports from the principal Atlantic
ports for the past week were 1,005 600 bush
els Of wheat, 230, coo barrels of -four, $50, 900
bushels of corn and 10000 bushels of oats
This is decrease in wheat, but large in
crease in flour as compared with the previous
week.
The wheat crowd are in perplexed and
helpless sort of condition because of the lack
Of outside speculation. They have about got
tired OF the game of fleeing each other and
The market has fallen into a very lifeless
condition 1t seems about equally impossible
10 advance or depress prices
TO any great extent The fear of not being
able to make anything prevents short sales,
while the facts concerning the general wheat
supply of this and other countries present
equally strong reasons against t,uying.
While the majority of traders would hail a
boom with delight, they are at sea as to how
to bring it about. Prices have been at their
present low level, the lowest in years, long
enough, and nearly everybody seems to
think the market ought to go up, but the
stubborn fact remains that it doesn't go up.
Present indications are in favor of free
and liberal movement of wheat from first
hands from now on to the end Of the year.
People can't go through the holidays without
money, neither can they dc
their usual winter trading without
money, and about the only way
farmers can raise money is to sell something
from their granaries, and this they have de-
termined to DO apparently, whether it is good
policy or not. 1t is reported that large GUAM
Titles of wheat are in transit over the North
4rn Pacific road, while the current receipts
o-day at Milwaukee, Toledo, Baltimore and
81. Louis are all large. Here we have about
he same of winter aud more of spring.
liverpool did not send us her usual dispatch
o-day, but Mark Lane was steady and slow.
Arrivals of coast were small. Farmers de-
iveries last week were %, 000@TO, 900 quar-
,ers. New York and st. Louis were lower on
wheat early. The opening to-day was at
about Saturdays close, but there was decline
of S6c from that point, which was checked
by the covering of shorts, who looked
for possible dimunition of receipts, should
the predicted cold and stormy weather in the
OF the taking of 100000 bushels in New
York for export frmed the market up and
the close on the morning board showed an
advance of 1S@4c over Saturdays close,
but this advantage was lost in the afternoon
and the close was weak. October opened at
1890, ranged between 731Sc and 73Xc and
closed at the lowest figures. November
'pened at 74ssc, got &c lower. then nc
higher and finally closed at 74IIc. No. Q
'pring was freely offered by receivers and
old at 739s@73Xe. Cash No. 8 closed at
wac, No. 2red winter at 74sl@75c and
No. 3 at 66c. Sid. Kent, who went short
about 100000 bushels of wheat
; short time, has covered at a handsome
profit. He is still bear for turn of or )
cents.
"Wheat," says Robert Lindblom. "has been
Afflicted with smallpox during the past year and
Ihunned by everybody. The consumers buy
from hand to mouth. The farmers sell faster
than ever. and between them they manage "a
put great deal on wheat in sight. The farmers
this year have to sell double the quantity OF
former years in order to raise the same amount
oil money, and l candidly believe thar they have
sold larger proportion OF their crop than for
many years They are like other Spectator.
ana cannot be expected to hold what
nooooy dares to buy. Let prices
snow an advancing tendency and their
bins will close tighter than clans, aud the bs <.
ers' the millers and the factors abroad win all
lay In stock and make the visible SUNNY dis
appear as II by magic. II is this difference in
sentiments, operating in all directions at one
time, that begets extremes but time corrects
them all The market continues relatiysIy hiybe,
than other markets, and now that IL ia near win
Ter storage thiswill continue. as wheat has in 3
higher degree speculative rs well xs a leyit;
mate value. Receipts OF winter wheat show n
ieoiueu aeereSse the last few days, and farmers
delivery Of spring wheat are also smaller bnt
his will not appear az receiving points for ten
days yet. The export demand has revived "a
some extent ana foreign advices are not q.
panicky as they were. With the hanks fuu n.
idle money l cannot but belle We that lar,,e
storage begins"
we are on the eve Of bulge in wheat sait
one OF the most careful Observers on 'cnarng,
this morning. wheat Will 90 mn lOc for No
Semoer, ana possibly l5c. The Chicago us,r Se
has sold short over 3S.OO0,00o bushels, " hii
every other market in the count nv is long ON
export demand is good as il syer is and e,,er
inch OF vessel room for Move, .,be, ssiIin, - a
ready engaged for wheat SD ipment. In a fe,
days exports OF wheat Vii
be much heavier. but l~fo-
that time comes you Will sec. boom In WI eat
have watched the wheat crowd carefully "a
the past three days. Their has been short sci
right and left. bus the AR esd ones, mind yor
have been buying right along and arc buyi u: K
day
There WAS an unsettled and weak fe rlin
about The corn market. az day aud less &C a
effort to manipulate price. There app es re
TO be but httle fear II any further mi, ellie
on the part Of the clique, and what It'll
-.
hy the help of the legitimate factors. IL