St. Paul daily globe., 1884-11-24
are from l75, 900 to 10000. A large num-
Der we're left at the close
BAMILL & BRINE's REVIEW.
Especial Telegram to the Globe. l

CHICAGO, Nov. 22.-Hamili & Brine, in
their weekly review Of the market, say. The
week just closed has been for the most part
characterized by the weakness and depres-
sion which for many weeks have been prom
inent features Of our markets, the whole list
except wheat, showing at the close to-day
considerable shrink kage in values. For the
past few days there has, however, been a
noticeable improvement in the volume of
business transacted, indicating a renewal Of
speculative activity and partial recovery
from the apathy and indifference noted in
almost all the quotations of week ago,
while corn, oats and provisions are lower,
with the last transactions a: about inside
prices so far reached this season. The near
approach Of the close of navigation has had
no effect in stimulating shipments, those Of
wheat remaining almost normal, while for
corn and oats the demand has been below the
supply, and some addition to our stocks in
store is noted.
During most of the past week wheat has
ruled quiet, temporary strength and weak
ness alternating with great regularity, while
fluctuations were confined within a range Of
about 1c per bushel. Short sellers have, we
think, on the whole shown more anxiety
than holders, and under liberal buying to
cover short sales, influenced to-day by
slightly better fereign news, prices have i'm
proved and the close is rather strong with
the advance maintained. The main factors
in permanent advance, however, seem 10
be yet wanting, and until largely reduced
farmers deliverence, a better export demand
and some improvement in the general busi-
ness of the country become settled features,
we cannot expect serious advancement of
value. 1t is contended BY some
prominent operators that the signs OF thes
favorable conditions are not wanting and
they cite the fact of decreased receipts at six
primary western points of about SOC, 900
bushels for the past as compared with the
preceding week. They also regard as some
offset TO the many bears arguments which
have been for some time past effectively ad-
vanced, the alleged fact of decreased acreage
in the winter wheat sections and the re-
ported damage 10 the new crop from drouth
in some sections and Hessian ay in others.
None ofthese Things, however, have as yet
had any material influence upon investors,
who have up to this time either kept entirely
aloof from the market or unloaded their
holdings upon the first appearance of
weakness. With visible supply of 40, 000-
900 of bushels material advance seems un-
likely until bull arguments are actually veri-
fed, while at the current abnormally low
prices short sellers will probably con tinue TO
experience great nervousness and anxiety
wneu values show any upward tendency
We regard farmers deliveries as the kew tn
the situation at present. and, should they
continue to show any marked decrease. be-
lieve that commencement will be made to-
ward permanently niger range of values.
The advance noted last week for NOvemb Der
delivery of corn has been entirely lost, and
although the premium oI cash corn which
has for some time existed, is still continued,
all fear of serious manipulation seems 10
have been dissipated. There are many lots
Of contract grade, however, still held of the
market on account of scattered parties who
believe in the possibility of a squeeze aud
that sellers, who desire 10 cover contracts for
this month, have to do so in the face of very
light offerings. Without concentrated pur-
chases there seems to be no we'll founded
reason to expect an important advance, and
unless shippers should relieve the market at
the advanced rates demanded for No. .
corn, we think prices for November and
December will later on in the month
come nearer together. Year delivery has
been freely offered, and prices show de-
cline of &c on the week. For January, Feb
a,ad Maxy fba ehr fvly A..
the same. Current prices for the deferred
futures are regarded by many as low enough,
but the prevailing feeling is one of weak
ness, and should receipts largely increase,
as are generally expected, somewhat lower
prices seem probable. The trading is almost
altogether local and speculative, there being
little or no offerings from the corn sections
of the west. This. however, will probably
change when the new corn commences to
grade No. 2, although the western farmer
may not be very anxious seller on the basis
of current prices for the deferred futures.
Oats have ruled dull and lower and we
note decline of 1c as compared with the
closing prices of a week ago. The decline
in corn has induced some free selling of
May oats, and with the decline for this deliv-
cry ali others have sympathized. The de-
mand for shipment has been less urgent and
stocks show some increase. December oats
closed at 25c.
Provisions have ruled quite weak, aud
values of all products show considerable
shrinkage. Receipts of hogs were heavy for
this as compared with last week, and
prices have been weak and lower. There is
considerable disparity, however, between the
value of product and the raw material which
causes packers to limit their hog buying to
the minimum capacity of their houses. This
results in many hogs being daily left over,
and low priced material is an absolute nee
essity when product is lower. We look for
the adjustment of prices this year to come
from decline in the value of the hog. The
close to-day is at the lowest figures yet
reached this season for all product. and the
prevailing tone is one of depression.