St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-04-11
MANIPULATED PORK.
Hog Products Claiming the
Attention Of the Chi
cag0 Board.
Wheat Irregular and Unsettled,
Closing a Trifie Higher
Than Yesterday.
Corn Shows Sympathy With Wheat,
But Its Fluctuations Not so
Frequent and Severe.
Wall Street without Interesting Features,
a Dozen Stocks or More Not Afford
ing a Quotation.
Good Friday to he Observed by Specula-
tors in Both Chicago and
New York.
CHICAGO.

opening was strong all around, and barring
a short lull in activity which occurred shortly
before noon, this strength was permanent
Wheat showed the most activity and closed
strong at 85Mc. AS stated in yesterdays
review of the market the situation is being
steadily improved by an increased demandfor
consumption, and there is nothing at present
on which to predicate short sales, as the
stocks Of leading articles are by no means eX-
cessive and there is reason to think that there
is large line of outstanding contracts for
future delivery still unprovided for, while the
property is being rapidly concentrated in the
hands of parties who buy for investment.
There are also abundant reasons for predict
ing light receipts Of grain from the country
for some weeks to come at least, and this
fact is likely to have a marked influence in
sustaining values. There will be no session
of the board tomorrow.
Provisions were the strongest of all, and
but for the obstinacy of the monopoly which
contracts them would have been unusually
active. The local demand for pork and ribs
was very heavy, and good shoWingof outside
orders to buy indicated that the country
generally thought the list purchase. But
pork was not for sale except in such small
lots as had escaped the monopoly. The
strength in the provision list is, however,
considered by more than one packer as mere
ly temporary and it is stated that some of
them are nearly ready to sell out. Among
operators noticeably interested in buling pork
were Cudahy and Hammill & Brine, who
stood ready to buy nearly everything offered.
H., -+o -J1ox1 r,y;nn
Wheat was active, but there was an unset
tied feeling, and values were very irregular,
Reports regarding the coming crop were
fairly satisfactory, and foreign cables, though
somewhat conflicting, showed more life, but
there was an active demand by strong parties
for investment, though hardly as much buy
ing by good houses as was noticed yesterday. |
The market was frequently depressed by the
throwing over of large blocks by heavy op-
orators, but they were quickly absorbed |
by buyers who did not again put them out,
and as result each break was followed by
rapid advance Opening on basis OF S575 |
Ql85Ic, the May option receded on free
offerings to 8435c but quickly rallied under
brisk demand to fill orders and liberal tax
ings by strong firms for local account, and
advanced to S5 &C. when under strong sell |
ing as above noted prices again receded to
S414c but Immediately started up on de-
mand from shorts and large pur-
chases by parties who are going long, |
finally selling up to 859c, closing on change
at S5$lc. There was some export inquiry,
but as a rule those who held orders said the |
advance had placed wheat above their limits.
Holders of orders expressed confidence that
continued firm markets here would induce |
foreign buyers to respond to the advance.
This opinion was strengthened by an i'm |
proved export for flour and purchases of
few lots at a slight advance. The trading was
pretty large, and included the sale of a
large line of stuff by prominent house |
heretofore connected with the Armour inter |
est and the covering of a large line Of local |
shorts. The June option was also active and |
quotable at 2@21lc over May closing
S7Mc. July ranged X(Q1c over June On |
the call wheat was offered freely and declined !
nc while on the curb the feeling was weak
and further decline of IS was noted.
Corn was rather active and sympathized |
with wheat, but the fluctuations were less |
severe. The opening was weak and followed |
by an early decline, but the receipts were
small, the inspection showing only ia cars,
go of which were contracts. This fact in
creased the confidence of holders, who were
less disposed to sell, while the increased |
anxiety of shorts to even up their trades, in
stead of leaving them open over tomorrow,
which is holiday, induced them to buy more
freely towards the close, and there
were also a good many outside buying |
orders on corn, coming chiefly from the
interior dealers in the corn belt Of the west,
who think prices are low enough now. There
is not so much reckless selling as formerly. |
The market seems to be working towards
stronger and more healthy basis, and, as
prominent dealer said to-day, is in posi-
tion to be more easily bulled. 1t closed on
'change at 5055c, or sc below yesterdays |
close. On the call the offerings were free
and prices declined 3sc, while on the curb
weaker feeling prevailed, and another sc
was lost.
Speculative trading in oats was not on a
large scale, and the market was more settled,
with something OF an Improvement both for
cash and future dealing. May closed on
'change at 32Hc, and on call at 32c, while
June was sc higher.
Rye was strong and higher, closing 314c
above yesterdays last price on change.
Trading in pork was quite active on spec
ulative account, with the market unsettled
nervous and very irregular, showing more
strength however at the close than and pre-
Vious time of the day, and the last quotations
were at the highest point reached on 'change
The closings were also 20@221lc over the
opening prices of the morning. and S5@90c
higher than the closing prices on 'change
Yesterday, closing at $1770@17.721S for
MAY, and s17.S21I@17S S5 for June These
prices were not heldup on the curb, however.
the May option closing at $3.50 and June at
$17.621@.
Lard was active on speculative account
unsettled and more than usually nervous
AS in pork the closing was marked by more
than ordinary strength, and the last sales on
'change were made at the best prices of the
day, being 10000 higher than Yesterdays
quotations at l O'Clock, May closing at SS. 65
0aS6716, with June 10c above May. On call
prices fell SC all around, and on the curb
21%c more was lost.
The feeling in meats was nervous in spec
uative circles, but there was q fair trade.
Short ribs were active both for cash and fu-
ture delivery and closed 15c higher than at l