St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-05-14
And Stocks Themselves are More
Gloomy and Depressed.
Than Ever.
The Chief Activity i'll Wheat Produced
by Local Operators and Buyers
for a Scalp.
ing Bad Weather and Small
Receipts.
Trading Slow in Provisions and but Few
Buyers, Quotations Making
a Slight Gain.
CHICAGO,
[Special Teleeram to the Glnhe I

Especial Telegram to the Globe
CHICAGO, May 13.-The bulls made VIGOROUS
fight to regain their lost ground to-day, and al
though their success in advancing prices was not
startling they succeeded in giving little better
tone to the market, and at the close on change
healthier feeling prevailed. The grain markets
were active and prices irregular, there being at
times very strong feeling, accompanied by a
sharp advance. The improvement, however,
was only partially supported. and the feeling
Throughout the session was nervous, the weak
ness and unsettled condition of
stocks in New York, and the usual
number of unconfrmed rumors of financial trou-
bles there proved disturbing element through
out the session, and business largely of a To-
cal character, inside buying orders being small,
and there being but few requests for any class of
contract grain that conld be executed at the
prices given to buy it; hence, while the present
unsettled condition of affairs exists, moral eau
tion should be used in operating, as ii seems
useless TO base purchases on legitimate
principles while values are so com
Pletely controlled by the fluctuations in the
New York stock market, and the attending com
plications. Provisions were firm, ,and speculative
articles higher but there was very little demand
and no legitimate Influences of sustaining char
acter, the shipping demand being small, and the
clique who run the deal went through the farce
of building prices up slightly at the opening, and
all owing to the quotations to stand, outsiders
not being disposed to buy or sell.
Wheat was quoted weak and depressed in Liv-
erpool, and spot deliveries 10 per cent. lower
New York opened a shade under closing quota
tions yesterday, and failed to recover the early
loss. Stocks in Wall street were also lower and
unsettled The decline in the visible supply as
computed by the secretary of the Chicago board
of trade not only failed to show as heavy de-
crease as was expected but was less than for any
previous time in three weeks. There was very
little done by exporters, and outside spec
ulative orders were small. The wealth
er, however, was wet, the temperature
unreasonable and the receipts small, aggregating
only twenty-one cars. The shipments were re-
ported at 175, 900 bushels of contract grades At
the opening feeling of extreme uncertainty pre-
vailed among operators, and the first sales were
at about the lowest figures of yesterday, but it
soon become manifest that those who were the
most rampant sellers the short side yesterday
were disposed to cover this morning and the bid
ding soon became active, Many of the local
bulls at once comprehended the tenn
per of the crowd and bought freely
for a scalp, The so-called Milwaukee
bull syndicate was reported to be buying freely
on the long side for the purpose of sustaining
the markets, and prices rapidly advanced under
strong competitive buying. July opened at 901s
@90Ac, but almost instantly rose to 91c, and
tluctuated slightly, when increased buying by the
Milwaukee crowd caused an almost steady up
ward movement to 92@c, when the previously
eager buyers showed a disposition to call halt
and under large offerings by longs who were dis
posed to take profits on early purchases prices
started on the down grade, receding to 9O5sc
and closing on change at 911s@91Ac. On the
call there was heavy selling and prices had
further decline of e @1c. On the curb the feel
ing was easier and prices 2sc lower June was
12l@17 &c under July.
Corn was active, the predominating feature
being calculated to strengthen values, the re-
ceipts being only fftyfour cars, of which nine
teen graded contract The stocks in store here
showed a heavy decrease from last Tuesdays re-
port. and the shipments were 100, 900 bushels
Adyices from the southwest reported the weather
cool and planting greatly delayed by rains
Opening sales were &c over yesterdays close or
on basis of 5S Il for July Under free cover
ings by shorts and buying for an advance prices
advanced to $3.50, but there was little DISPOSE
ton to buy at the appreciation, and business dur
ing the closing hour was moderate and prices
settled back and closed on change at &c On
the call corn fell 14c while on the curb July was
steady, closing at 5SAc and June deprecated
Il and closed at SEC.
Oats were frmer, under good speculative and
fair shipping demand, and an advance of &c was
scored. June sold at 3314 @335s& h and closed at
1870.
Provisions ruled more active, under slightly
improved demand on speculative account and
there were slight advances in the favored options
while the others maintained prices Pork ad-
vanced zoe at the opening, but trade was Slow
and operations confined to a few spectators.
The opening was at S17.421s for July, which ad-
vanced to S17.524, and closed at S1757%@
1850.
Lard was a shade higher, the offerings were
not urgent, and the shipping demand higher
July opened at $3.50, sold at S9.55, and closed at
$S.50@9.521a.
Short ribs were dull, but appreciated 10c in
sympathy with the other articles.
Trading in cattle was fair and prices steady on
choice light and strong medium weights, such as
suit the dressed beef and dressing trades Big cat
tie and exporters were slow and neglected. There
an order for $50 exporters which was filled
yesterday at a range of S6@6.40, but none of that
class was wanted to-day. The British markets are
repoted glutted, and prices $S@1O per head lower
than last week. Butchers stock and stockers and
feeders remain steady. In the latter the receipts
are light and also the demand. Distillery cattle
are in good supply and selling at higher prices. ,
The hog market opened rather weak and
prices shade lower than at the close last
night Both buyers and sellers anticipated ar
rlvais OF at least 10000, hence they looked for
lower prices butlater, when it was certain there
could not be over $4,000 or 10000 buyers began
to take hold more freely, and at the finish prices
had more than recovered all that was lost in the
morning the market closing steady and the
pens well cleared
There was little or no change to note in tbe
sheep market. Prices continue high and irregu-
lar. A few loads sold shade lower early TODAY.
but at the finish prices ruled fully as strong as
at any time.
ET