St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-05-24
CHICAGO,
Especial Telegram to the Globe. |

times, and then almost dull, and speculation
was almost entirely confined to local opera
tors. Reports from New York were not such
as to increase confidence in the financial sit
uation, there all the leading stocks, good as
well us bad, being lower. This induced eau
ton on the part of conservative operators in
grain and provisions, who were not disposed
TO trade very heavily until more positive evil
dences Of financial stability are visible than
AT present. The attention of grain dealers
was centered in wheat, which gave the key
note TO the other cereals, the movements of
which were entirely sympathetic. There was
very little activity in provisions, and during
the greater portion of the session pork was
weak and prices lower, but rally late in the
day made higher close. The chief support
was due to the situation of the pork market,
on which few big operators have a corner
Trading in wheat was first brisk and then
dali, all through the regular session and
prices were irregular, periods of strength and
weakness followed each other in quick sue
cession. The factors favoring the bull side
were better, foreign cables regarding floating
cargoes of coast being quoted 609d per
quarter higher, and moderate receipts, the
arrivals amounting to only twenty-four cars
Vague rumors of rust in winter wheat in
some localities also helped the bulls The
bear arguments were the small shipments,
the Withdrawals from store being but 80 900
bushels, small shipping demand and meagre
speculative orders from the outside. The
bulk of the trading was by local scalpers, who
bought and sold for small and quick profits.
July opened weak at 9215c and declined
under fair realizing by timid longs and pur-
chases by shorts, both classes being frightened
by reported severe breaks in the New York
stock market and rumors that the Milwaukee
syndicate had sold out. Prices went down
to 9115c, but the offerings checked it at that
figure, and those who had hammered the
market early, finding that it resisted their
efforts to depress values further, commenced
bidding freely to get back the WHEAT they
were so anxious to sell during the early
hours. Under this influence prices ad-
Yanced to 934c and closed on the regular
board at 93@93Bc. June was 23S@1215c be-
low July and a liberal business was done in
changing to the latter option. On the after
noon board the feeling was weak and un-
~~-'tN4t4' aAAiU culN WHICH OlGucu sb Joe, SOlu
of quickly and closed at 92H@9214c.
Corn was dull and quiet, with a weak feel
ing, and prices controlled by wheat The
English markets were strong and higher, and
freight engagements were made to ship 229,-
OO0 bushels by lake, but these influences
were about balanced by small Withdrawals
from store. The warm weather of the past
few days is causing some uneasiness as to
the keeping qualities of large portion of the
stock here. There were predictions of in
creased receipts next week, and there was
very little disposition to buy except to cover
shorts. July opened at about 5715c, sold off
TO 55$lc, and fuctuated frequently between
56$4c and 5715c, and closing prices are:
June 55c, July SIC, August 5S15c. During
the afternoon the market was comparatively
steady
There was very little doing in oats. and
aside from their already low price there was
very little in the situation of sustaining
nature, the receipts being larger than for any
preceding day this week.
Provisions attracted less speculative atten-
ton to-day and trading was lighter The
market exhibited less strength early. and
prices ranged somewhat lower on leading
speculative articles, but later the feeling was
tirmer and prices ruled higher. The offer
ings were not very large and the demand
was lighter than for the past few days. For
eign and eastern advices Indicate little
change in those quarters.
Pork was only moderately active and the
feeling was rather unsettled. Prices on the
whole range declined 15@20c early, but
rallied again 20@23c and closed compare
lively steady at outside figures. The ship
ping demand was only fair. July opened at
$1S.45, declined 10@1215c, then advanced
to S1S.70, and closed at S1S.65@1S. 20. On
the afternoon board some sales of July were
made at $1S.60, but at the close it was Of
fered at S1S.55.
Lard attracted but little attention and there
were no changes of Importance to note. The
offerings were somewhat limited, and the
demand fair. Prices ruled 10@15c higher
per 100 pounds, and fluctuations were within
narrow limits. Sales Of July ranged at
SS.21}&@S 40 and closed steady at SS.3715@
$40 ON the regular board, and $S.35@S. .37115
on the afternoon board.
Short ribs were in fair demand, and the
offerings were not very large. The market
was stronger in a general way, and prices
ruled 15@20c higher
The cattle market was again active, and
under brisk competition prices advanced
1O@l232c per 100 pounds, making an ad-
vance of 15(925c for the week so far. At an
early hour everything that was marketable
was sold, the market closing strong at an
advance.
The hog market opened active with MANY
more buyers than for the past three days. and
under the activity and only fair receipts
prices ruled a strong 5@1Oc higher than at
the close last night.
Sheep were very dull. With the fresh re-
ceipts there were only 800 or 2, 900 head on
sale, but there was little or do demand from
either shippers or the local trade.
Milmine, Bodman Il Co. say: "The large
holders manifest no disposition to unload,
and seem to care but little which way the
market goes. If this magnificent weather
continues we think it will be difficult to sus
tain prices Reports of the growing crops
continue very favorable. There is no improve
ment in the export demand for wheat Re-
ceipts at country points are said to be in
creasing, especially in southern Indiana and
Illinois, but we think the amount of winter
wheat back must be unusually light. If