St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-04-13
The Provision Trade Speculative and Spas
motto. Closing Quotations Being Easier
and Lower.
Dizziness the Characteristic Feature Of
Wau Street, the Movement Reing
Generally Downward.
Chicago.
Especial Telegram to the Globe

HCSAN-OAA
trades over Sunday, and closing sales were at
nearly the lowest prices of the
session, and as to the future Of
the market nothing has developed
to warrant a change in the views
already expressed in these dispatches. Stocks
of grain of all descriptions are steadily be-
ing depleted by consumption, and adYices
to-day justify the expectation of an early re-
sumption of communication with the east by
water, which promises further reduction in
freights. This fact should greatly stimulate
the shipping demand and steadily reduce
stocks to point where holders can carry
them with confidence. At present, how
ever, the bulls are without organization or
leader, and the advance that has
been secured from the low prices that pre-
vailed during the early part of the week was
almost entirely one of the confidence con-
sentative spectators felti in further values.
Shorts selling except for a scalp is a thing
that cannot be advised, and though the stu
alton is such as to warrant Il belief in a sharp
advance in the near future there is posi-
bility of a large break before the upturn, and
when the break comes It's the time to pur-
chase.
Wheat was moderately active, but the feel.
ing was feverish and fluctuations rapid, bu
less wide, the entire range of value for the
day being &c per bushel, against sc Thurs
day. There were few outside influences cal
culated to affect values in either direction
and certainly none calculated to discourage
| the bulls Private cables from Liverpool
were generally favorable. Adyices conveyed
in private letters from Southern Illinois and
Indiana were not such as to justify hopes of
a full crop in those districts, and the outward
inspection for the week showed a reduction
of about 600, 600 bushels in our stocks Of con-
| tract grade since last Saturday. There was also
some export inquiry at slightly lower prices
than were obtainable for cash grain, but the
sharp advance of last Thursday had induced
good many chronic bears to buy at nearly
the top prices, and there were few supporting
| features of a pronounced character to-day and
the weether was fairly favorable Those who
bought Thursday on the reports of a storm in
the northwest were discouraged and anxious
to unload, and the market opened weak &c
lower, the opening sales being made on
basis of S4(@841lc for May. From this point
values quickly receded to S556c,
when the demand to cover shorts put out at
higher prices and free buying to fill outside
orders and tallings for investment caused a
general upward movement to SAGE, but af-
ter the demand from such buyers was salts
fed there was an absence of support and
prices receded under free selling, and closed
on 'change at S31l@S355c. June ranged
about 215c above May, closing at S555c,
while July ranged 5s@115c above June, clos
ing at S6Ic. On the curb wheat was sc
better.
Corn was less active than on Thursday and
lower, but the decline was hardly as marked
as on wheat. The inspection for the past
forty-eight hours showed 40 cars, of which
100 were contract grades. The demand for
futures was moderate and mostly of a local
character, considerable portion of which
was to cover shorts, and the feeling through
out the session was rather lower. Opening
on basis of 49Hc May receded under fair
offerings to 49c, reacted when wheat and
other articles advanced, sold at 49Tc, and
closed on 'change at 49H@494c. There is
an increasing disposition to change May to
longer futures, and both buyers and sellers
are rapidly closing up their May deals and
going into June and July. There was fair
shipping demand for low grades on Track,
and offerings were more liberal June
ranged at 5019@5035c, closing at about
50Hc. July ranged at 5214@534c, closing
at 5215c.
Oats were rather quiet for future delivery
and opened weak, declined &c in sympathy
with wheat and corn, rallied &c, but again
weakened when the shorts were filled, and
declined at the close to 313(c for May, 31Ic
for June and 312lc for July.
The market for rye was quiet and slow
and lower prices ruled
Barley was firmly held at Thursdays prices.
The trading in provisions was chilly con-
fined to speculative circles and was rather
sposmodic, the market falling to show more
than moderate activity. The feeling, how
ever, was very steady, though prices ruled
easier and lower. Based on Thursdays last
quotations prices closed at a decline of 80 C0
35c On pork, Is "a 111Gc on lard and 1Oc on
short ribs.
Fluctuations in pork yesterday were con-
fined to small range, and the closing was
dull at $17.35 for cash. Dealing in the May
option was moderately active. The market
opened at S1740, declined to $3.50, and
after advancing irregularly to $780, closed
at S17.371@017.40. June closed at S17.50G0
1922, and July Zoe higher.
Lard was easier and closed 15@171Ic
under yesterdays ruling prices at 1 O'Clock.
May opened at S8.52% and closed al $8.4715
@S.50. June opened at $500 and closed at
sS.571G@8 go. July opened at s8.75 and
closed at sS.671l@.S.7O.
The general trade in meats was slow.
There was some inquiry for cash lots, but
buyers acted as if they were more anxious to
feel the market than buy May short ribs
ranged at SS.50@8. So, closing at IS. 5215.
Receipts of cattle for the day were 1900.
About half Of the number howeaer, were
Kansas City cattle, bought there for Armour
Il Swift, leaving only few hundred fresh
on sale, for which there was good demand
at about yesterdays prices. Buyers fancied
they paid slight advance, yet the salesman
who had the bulk of the fresh receipts
claimed he could not get as high prices as
during the morning yesterday. The fact of
the matter was that there were barely suffi-
cient Numbers on sale to make market
About all sold at an early hour.
Sheep were in good demand, and fresh
receipts were quickly disposed of, the market
closing steady.
For the few thousands of fresh receipts of
hogs there was an active demand, and prices
again ruled strong 10c higher than yester-
day, the market closing steady at the advanced
Crosby & Co. say: ''Wheat looks weak