St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-08
Provisions Stronger on Small Re-
ceipts of Hogs-Wheat Opens
Stronger at Somewhat
Higher Prices.
Corn Moderately Active and StrOnger--0ats a
Shade Higher--Pork Stronger and Mod
erately Active on Local Account.
The.Bears Having Everything Their Own
Way in Wall Street--Consider-
able Activity.
CHICAGO.
Especial Telegram to the Globe. I

exert an immediate influence in values in
either direction, and during the greater part
of the day there was almost an entire absence
of spirit in any of the leading circles. The
fact, however, that prices maintained
higher range at the close must be regarded
as an evidence of increasing strength,
which so far as regards wheat
and provisions was no doubt largely due to
an improvement in the statistic position,
which careful analysis shows to be stronger
than at any preceding time in months. A
favorable feature as regards the former
article is that the reported imports in Great
Britain since Sept. show that 81 per cent.
went from the United States. 1t is also
stated, on good authority, that after making
the most liberal allowance for stocks now in
that country, and to arrive by May 3, it will
be necessary to import A, 900, 600 bushels ad-
ditional wheat, or its equivalent in flour to
supply its necessities until the first week in
september.
Provisions were strengthened by the ascer-
tanned fact that the current weeks receipts
of hogs will be the smallest so far this year,
or for many preceding weeks, coupled with
reports of an increasing export movement
for meats at the seaboard. 1t is also known
that packers are unable to move any article
of provisions at current prices of hogs and
hog products Jack Cudahy bought pork,
lard and ribs at intervals, and ruin the mar
ket about as he wanted it, which has dis
gusted many Of the local crowd who have
been doing as little as possible of late.
The heaviest trading in the wheat pit to-
day was by Comstock q Lester, who appeared
as sellers, while Lindblom Roche, Kent Il
Co. were free buyers for an upturn.
In corn the principal buying was by Lind
blom, who was forced to take heavy lines to
cover his shorts, and to protect his ''puts,"
of which he has been heavy seller all this
week, and has had the corn put to him every
day. Ream was also put down as large
buyer, but the bulk of the purchases were for
New York and Baltimore parties, who think
the market has touched bottom for the
present.
Wheat opened stronger on little more de-
mand from timid shorts whose nerves were
disturbed by the cold weather which contin-
ues to increase the anxiety in regard to the
condition OF the winter wheat plant. Numer-
considerable damage had actually been sus-
tanned in localities where the ground is des-
titute of snow. In addition there were
good many buying orders from the interior.
Opening sales were at 4@Yc over yester-
days close and soon advanced Nc
to 96I May. When the early
demand wasI satisfied bidding was slack,
prices reeeded to the opening figure and
trading was moderate throughout most of
the session. But there was no pressure to
realize, the bears evidently being distrustful
of their position. A strong feeling was de-
veloped on the call. Although trading was
only fair and May closed firm al 96M but
later on the curb closed at 971s
Corn was moderately active and stronger
in response to the improvement in other ar
ticles. Sellers were also encouraged by de-
crease of 81 cars in the receipts which ag
gregated pa cars. The shorts also seemed
to think it time to call a halt and influenced
by fair buying from such
operators, and increased takings by those
who thought the decline of the past few days
was sufficiently clear to warrant an advance,
prices appreciated Tc from the lowest price of
yesterday, being 559s@555sc for May, closing
on Change at 555sc. But on the call prices ad
vanced to So 4 under continued buying by
Lindblom, Schwartz & Dupee, and the gen
eral crowd. Later on the curb closing sales
were at 561Sc, with the feeling the strongest
of the day. The shipping demand for low
grades free on board was good, and all the
offerings were readily taken at better prices.
Oats were moderately active for May and
prices closed 35c higher Sample lots on
track met fair shipping demand at shade
higher figures.
Rye was quiet and steady.
Pork was stronger and moderately active
on local account. Prices advanced 20@222$c
per barrel under covering by shorts and buy
ing for a.scalp. The market, however, was
rather slow and closing sales on change were
121SC015c under the outside figures of the
session. On the call trading was small but
on the curb heavier, and prices advanced to
and closed at $3.50.
Lard was quiet, the volume of business
moderate, about the only demand being
from shorts and scalpers, yet sales averaged
a trife higher, at one time recording an ad-
vance of 1Oc. and closing 215@5 over the
last transactions of yesterday.
Short ribs are quiet although the feeling
was better and prices 1900 higher, closing
steady. The offerin gs were on a moderate
scale and the demand corresponding. Other
meats were steady and transactions limited.
Shepard & Peacock say: "To-day's market
has been slim one throughout. 1t was ac-
tive for about the first hour after opening,
then became extremely stagnant under lack
of outside business, but just before closing
more life was exhibited and better tone
shown. The general burden of advices from
the outside have been favorable in many re-
spects, cables rejecting again a developing
demand from the continent and the sea-
board markets showing much steadiness
Here the features have been first desire on
the part of the shorts to cover and secure their
profits, and next some considerable concen-
tration in buying for long account. The corn
market has shown strength and atendency
to move towards higher prices all the morn
ing, and under pretty fair trade has made
an advance and maintained it. The shorts
were pretty liberal buyers, being anxious to
decrease their lines and secure their out
standing profits. The bulls were in better
spirits than we have seen them for some
time, and the course of to-day's market give
hem rather the advantage again. There is
some current rumors of deal in corn again,
but we are unable to give it any further con
tirmataon than to say that the character of
to-day's buying, aside from the covering of
shorts, was such as to lend a color of truth to
the report"
Mccormick, Kennett 6 Day say: "The