St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-15
NOT AsHAPPY ONE.
Is the Lot of Brokers and
Commission Men About
These Days.
Outsiders Hold Aloof From Spec
ulatiOn in Either Produce
or Stocks.
And the Unlucky Brokers Have Moth
ing Else to do but to Skin
Each Other.
No Important Change in any OF the Markets
or in Prospects of Future
Prices.
The Produce Pits Show a Resume of
Strength, but From Wall Street There
are Dismal Predictions.
CHICAGO.
Especial Telegram to the Globe.

trading was so moderate that the strength
was not sustained kilograms from st. Louis
said the receipts of winter wheat there e1-
ceeded 100, 900 bushels, and the local receipts
were fair, so these influences helped the
weakness, and there was not even a demand
from the shorts to help matters, they having
pretty well covered their deals last week.
Outside orders were also scarce, and the
trading was chiefly among local scalpers. In
spite of all this scalper who is himself an
invee crate bear said:
''Tne feeling is a little bulish this morn
ing"
''What on" he was asked.
''Hope,' he replied, ''that springs eternal
in the human breast 1t don't take much
you know to encourage a bull"
In the provision pit there was little more
doing though the aggregate business for the
day was not very large. The weakn ess in
the hog market accompanied by reduction
Of 10@15c for 100 lbs caused weakening
feeling early in the day and lower prices
were accepted for some Of the leadin g
products but later little more strength was re-
allied and prices rallied againg, though the i'm
proVement was not fully sustained to the close.
The shipping demand was moderate and con-
fined to small orders. Foreign advices ex-
hibited no material change and re-
ports from eastern markets indicated a
quiet feeling in that quarter. Speculative
trading was confined almost exclusively to
lard and short ribs.
Wheat was traded in very lightly, opera
lions being mostly on local account-very
few outside orders being received-and the
market was quiet and weaker. Foreign ad-
vices quoted wheat steady and shade better
Ior cargoes off coast, with weather in Eng
and unsettled. Shipments continue fair
aud considerably in excess of arrivals
Exports from New York were also
quite large The market opened steady
and firm with an avauce of &c on August
and nc on September but under increased
offerings, influenced somewhat by the weak
ness in corn, prices declined 1c for August
and about &c for September, fuctuated
slightly and finally closed 3sc lower for both
months, or at S25Sc August and S355c Sep
tember On the afternoon board wheat was
somewhat stronger; August closed at SO and
September at SAC.
In the corn market an easier feeling was
developed and prices averaged lower. Trad
ing was of a more limited character and
largely on local account. The receipts were
larger, shipments fair and a little
more disposition to realize was shown. The
market opened at about Saturdays closing
figures or at SIC for August, sold up to 50 &c,
but soon became weaker under increased of
ferings and declined to 5115c, sold at 515Sc,
ruled steady for while and then sold down
TO 81 ~ and finally closed at 51$c bid.
September closed at 514c bid. On the
afternoon board August closed at size, and
September 5155c.
Oats were dull, speculative orders light and
prices Il shade weaker.
Trading in pork was exceedingly limited
and prices steadier offerings were small and
the demand light, with transactions chiefly
settlement August sold in settlement at
s23 90, gain of soc, and September at
s91.75.
Lard was traded in moderately, but the
feeling was unsettled and prices irregular
within small range. Trading was chiefly
in contracts for August and September de-
livery Prices were weak early and gradually
receded 10@l21Sc, but rallied again 715(010e,
and closed comparatively steady at S7.15
August and $3.50 September.
Short ribs were fairly active and prices
ruled somewhat irregular. The market open
ed rather weak and prices ruled 15(G20c
lower, but rallied 1o@15c, though the appre-
citation was not fully sustained, and closed
Z = 4 > n
Fat, solid, corn fed, native cattle were
scarce and one or two fancy lots made ex
treme prices. Grass cattle carrying any fat
at all made good prices, but unfinished and
half fat cattle were hard to sell. Native
butchers stock was slow of sale at very low
prices. Texans were plenty and conse-
quently cheap; common Gamers sold at low
prices, but the best and especially the lots
that would suit the city butcher trade made
light, and little OF no business was trans
acted.
There was probably about 24, 600 hogs on
the market, including those left over on
Saturday. far too great number for the
commission men to handle successfully. The
market generally was slow and prices fully
Zoe lower than on Saturday. Packers were
not buying unless they could get all they
asked for in the way OF shrinkage There
were only a few commission men, who are
outside of the exchange, who had property to
sell in that way, hence business with the
packers was limited. There was fair ship
ping demand and fair demand for assorted
light, so that in one way aud another good
many were selling, yet trade was slow and
unsatisfactory
J. W. Rumsey Il Co. say: "At present
our market is lifeless-no one appearing in
clined to buy, aud at the same time prices
are too low to warrant their taking the short
side"
Mccormick, Kenuett & Day say: ''Re-
ports from the country indicate much
larger yield than anticipated, and it looks as
though we would harvest crop Of over five
hundred millions, the quality being very fine,
crop prospects in Europe are unusually good
and we look for low range Of prices unless
speculation becomes very active.
It win always be safe to buy
wheat for long pull about
S5c, but we don't think it win sell above 81
this year. There is good shipping aud ex-
port demand and stocks are being rapidly
reduced, but the new crop ought to move
freely now and we wish to see the effect Of
large receipts before advising our friends to