St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-09
~ OLNsR NFAttGElS
The Chicago Board Of Trade,
And The Bruin Family
Had a Picnic.
They Got Possession Of Every
thing. And The Bulls Went
Away Sorr0wful.
The Bovine Crowd Urging the Suez
Canal Cholera Quarantine asa
FOrlOrn Hope,
Protesting That in Case it Continues Europe
Must Buy Her BreadstuR Of America.
The Tendency to Sag The Most Noticeable
Feature OF Share Speculation.
Protesting That in Case it Continues Europe
Must Buy Her BreadstuR Of America.
The Tendency to Sag The Most Noticeable
Feature of Share Speculation.
CHICAGO.
Especial Telegram to the Globe. |


bears, and successful hammering, too, was
the feature in to-day's markets, and under
their persistent pounding all the leading ar
ticles sold off and closed at a material falling
off from yesterdays prices. Everything
seemed to favor them. Gables were dull
and brilliant weather was reported in Eng
land. Receipts were liberal and shipments
light.
The New York market opened weak and
reports from the northwest showed that the
weather was all that could be desired, while
the harvesting Of spring wheat was progress
ing finely. Everybody on the long side
wanted to get out, but all were not success
ful in doing so. Wheat fell off 1 s to 803Sc
for September. Corn was weak dur
ing part Of the lday in sympathy.
The September option closed at 5213c.
Oats shared in the general decline, closing
at % &c for the same month. Pork advanced
to 5 10 for September, but lard fell to 81. .42%
for that month aud ribs closed at 59.75 for
September and October, loss over yester-
days last sales of 12Hc. Cattle were higher
for the best grades. Hogs were active snd
steady.
Wheat opened opened at a decline of &c,
under the unfayorable influence mentioned
above. The bulls seemed to have nothing
left to lean on and, as one said, it looked as
if the bottom had fallen out. Prices braced
up little, however, under very liberal buy
ing by country shorts and better reports
from the east, New York dispatch
stating that 300 900 bushels had been taken
for export there, and the report was also cir
cuiated that 90, 600 bushels had been taken
for the same purpose here. These influences,
however, did not help matters permanently.
The Adamses, it was said, were shorting the
market on a great scale, and Geo. c. Walker
" Co, it was also said, were loading up
Poole, Kent IL Co. were heavy sellers and on
the reaction Carr, Clifford and Schwartz 81
Dupee all took property. September opened
with sales at 81 @5c fell off to 8135c, then
went up to S13Ic, and from that point de-
clined with fluctuations to q close of S0Tc
on the morning board, and S0%c on the
afternoon, when the feeling was still weaker.
October ranged at S135@S375c, and closed at
the lowest figure.
Corn sympathized with the break in wheat
and fell off slightly from yesterdays last
sales. After a weak opening consequent
upon free receipts, there was a slight upturn,
caused by good buying by the Adamses,
through brokers, it is said. There was Il fair
demand, with some inclination on the part
OF shorts to cover at the early decline. Sep
tember opened at 52Ac, sold to 5255c, with
sale or two at 53c, declined and closed at
.f,., l,o - p.
the afternoon board. October ranged at 81
Ge5l sc and closed at 81 &C.
Oats were easier. No one wanted them
particularly, and Wallace broke the market
l4W&c by unloading literally. September
closed at 254c. The white Russian oats re-
ceived from Dakota are growing in favor and
the last car received sold at 3Sc on track,
which is equal to 3SLf +, o. b.
Trading was only moderately active in the
provision market and an easier feeling pre-
Vailed during the greater portion of tho
session on 'chauge. Outside orders were
light and local operators were not inclined
to do much business. Foreign adyices
showed u stronger feeling and advanced
prices, and eastern markets were quiet and
steady. September lard ranged at S7.4715CQ
$3.50 on the regular board, closing ut inside
figures, but on the afternoon board the feel
Ing was weakened aud decline of sc was
scored leaving the prices 10c below vester-
days last sales. October fell to S7.52l5.
Trading in ribs was light and prices weak
the close being at SS75 for September and
October, 12llc below the last sales yesterday.
Arrivals OF cattle were heavy, and among
them some Of the best natives that have been
on the market for some time, and they sold
for the highest prices of the season. Several
drovcs were S1@510, and Mr. Giliett's
premium steers made S1.35, while prime ex-
ports and good shipping steers made 50. 500
$50, with second class ut S5.50G6. 95. So
far rs prices went there was little or no
change on the best natives, but second
and common were easier, If not lower as
many of the latter have to compete with good
TeXaus and Moutauas. There were about
1000 loads of Texans on sale, and, although
there was fair demand, prices were 1Odl5c
lower. Cows and low grade natives were
also lower. Stockers aud feeders continued
scarce, there being hardly y load among the
arrivals to-day, hence barely sufficient bus-
ness to make quotations; but they are wanted,
and would sell at high prices.
Trade in the hog market was fairly active
and prices were about steady as compared
With yesterday, vet there was not that strong
!ecling that then prevailed and at the close
values were rather easier. Should the pres
ent heavy receipts continue, prices will drop
considerably and not few look for decline
next week.
"Wheat will probably go lower" said
raider before the opening this morning, sal
though to my mind it is already lower than
il ought to sell on its merits. Corn is too
high for the near options, and too low for
the distant options like May. The sellers of
August, September ami October will proba-
UIy make money, but the shorts in May will
lose.n
Mccormick, Kennett Il Day say: ''We
think the short interest augmented and
prices are so low a sharp rally will be sure to
come when least expected. Those who buy
now, II the market declines, will reap rich
harvest. Stocks of course are very small,
both at the interior aud seaboard points. and
little squeeze in old crop options is likely
to occur if the market becomes largely over
sold.
The Chandler Brown Co. say: ''If the
cholera quarantine at the Suez canal contiu
ucs, America will PROBABLY be called upon to
supply wants which would have otherwise
been filed from Iudia. This may prove i'm
portant in its effect upon prices in the near
FUTURE
J. W Rumsey * Co. say: "At this mo-
ment the general feeling is 'bearish.'' but it