St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-06-14
VERY DULL MARKETS
At Chicago All the Boys Care
Is to Scalp Each
Other.
Outside Spectators Appear to
Have Quit the Market for
a Season.
Wheat a Little Higher for the Day,
But Only for the
Day.
Pork Cornered, Other Hog Products Quiet
and Live Stock Trade Lam
gushing.
Some Investment Purchases in Wall Street,
But Not Much Speculative
Trading.
Pork Cornered, Other Hog Products Quiet
and Live Stock Trade Lam
gushing.
Some Investment Purchases in Wall Street,
But Not Much Speculative
Trading.
CHICAGO
IspeciaI TeIegram to the Globe.l

and although the business was larger and
mainly on local account the general tone of
the market was stronger-the bears as a rule
showing less disposition to hammer prices
and in reversal of the usual order Of pro-
cedure lately, the market instead of opening
at the highest point and closing at the lowest,
opened at about the lowest and closed at
about the highest figures. The
bears say that the price of wheat
is entirely too high, and attributed such ad-
verses as that OF to-day for instance, to the
covering of shorts or the desperate effort of
some bull to tuln the tide of the market. In
spite of the general bearish talk, there are
number of good firms who seem to consider
wheat purchase. 1t is reported that Roche
and Messrs. Schuartz 6c Dupree were promi-
nent beyers to-day, and it is known that Mr..
j. K. Fisher, who has just,returned from an
extended trip in Europe, is firm bull on
this article. He is OF the opinion that India
will have none to sell this
year, and his faith in that country
as a possible dangerous competitor of
America in the raising of wheat for export,
even under the most favorable conditions, is
uuueTSIOOu 10 De very weak
The provision market was quiet and busi
ness in most articles light, pork being still
cornered, and the outlook for legitimate
business in that article are the advent of the
winter packing season is not fattering. The
trouble between Phil Armour and Fowler
Bros. is a matter of very little Importance on
'change. 1t has no effect whatever on
the condition of ha Dr0viSiOn
market, and is generally looked
upon as an i'll valued wrangle between a cou-
pie of boss wire pullers. Said one of the larg-
est shippers doing business on 'change to-
day: 1T is very poor business to be casting
reflections on Fowler Bros. and their product.
Their property stands as well as that of any
other institution in the country. To tell the
truth prefer Fowler Bros pork to Armour's.
You can set this down for a fact, if there's
anything Phil. Armour wants just about this
time it certainly is not pork. 1
haven't the slightest doubt that if Fowler
Bros or anyone else would guarantee. not
to sell it again in Chicago. Armour would
sell any number of thousand barrels of pork
at $1,000 and jump at the chance.'' Lard
and meats were adversely Influenced by the
continued free receipts of hogs and holders
of all packing house products except regular
winter packed mess pork found it difficult to
sustain prices.
Cables quoted wheat weak and depressed
in London and Liverpool with tendency to
lower prices, and New York
quotations offered but little to
support prices, while the receipts were
slightly heavier and the Withdrawals lighter
Trading was as usual entirely local. there be-
ing no orders from the outside and appar-
emily no influences of any kind brought to
bear which did not come directly from the
home gang of scalpers and manipulators.
Opening sales were at the extreme inside
figures of yesterday afternoon, S73Sc for
July, but there were rumors that private
speculator in crop reports had received ad-
verse news in regard to the winter
wheat, including severe damage
in California by heavy rains
and although the statement was not gener-
ally credited by shrewd and well informed
operators who claimed that if such condi-
ton existed they would be advised. The
story created an uneasy feeling among the
shorts, who imm ediately commenced cover
ing and values started on the up grade The
market during the last hour being materially
stimulated by rumors of a large export de-
mand in New York July sold up to SS1Sc
and closed at SS1sc on the regular board
and SS1lc in the afternoon board where the
feeling was weak at first but strong at the
close.
There was an advance in corn to-day of
1sc. The July option at one time sold as high
as 56c closing firm but dull at 55%c. There
was very little trading done in the article all
day. Some local shorts were filed and
some efforts were made to force the market
up. The corn market is looked upon as less
subject to manipulation than any other but,
lacking any particular attractive features.
very little interest is manifested in it. In
the afternoon board there was a slight
increase in strength and the close for july
was at SEC.
Oats were somewhat firmer, but business
was only fair and the closing prices were &c
above last sales yesterday.
Pork was in rather light demand on specu-
lative account and offerings were small
Prices were easier and declined 10C015c on
the whole range and closed quiet The ship
ping demand was small and prices for cash
lots nominal. Scarcely sufficient was done
in the July option to make quotations. The
closing was nominally $3.50 on the register
board and 10c lower in the afternoon.
Lard weaker and shade lower with verv
little doing in in the market. July was in
fair demand and sales ranged at SIS. O7150
S.121l andclosed steady at .sS. .1O0s. 1917.
The demand for short ribs was fair with
moderately large offerings. Prices ruled
rather weak and declined 5@1Oc per 100 lbs.
closing tame at $S.371l@S. 40 for July.
The cattle market generally, notwithstand-
ing the light receipts was far from active
in fact up to a late hour in the day but little
basiness was transactedr The dressed beef
buyers did not seem to want their
usual amount, and shippers were buying
sparingly. Although one lot of fancy sold at
81. the highest price since a week age
"Wednesday, the general market was rather
weak and prices shade easier. A good lot
of stillers made only S6.65, and that is 5@1Oc
lower than recent sales. Grass cattle were
selling at about the same as yesterday. Old
COWS are selling at very low prices, and fail
to good butchers stock is rather on
the decline, on account of the
liberal supply of Texas cattle.
There is little or no demand for stockers and
feeders, the supply light and trade generally