St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-29
QUIET ON 'CHANGE.
The Rise of Wednesday Was Too
Great, and a Reaction
Follows.
Wheat, Corn, Oats, Pork, Lard and
Ribs Take Gentle Tumble from
Prices of the Day Before.
The Bears Continue to Outnumber Spectators
of the Bovine Persuasion Two
to One.
Operators in Stock Afraid to Buy and
stand by Watching to See What
Others Win DO.
CHICAGO
ssnecinl Telegram to the Globe.

CHICAGO. Aug 2S.-The tide on change agair
look another turn to-day and values on nearly all
articles ranged downward, the decline being due
% u variety Of causes-wet weather, a dull LlV-
,rpool market a considerable decline in stocks,
nd somewhat panicky condition of the market
yenera,ly Opening quotations showed fairly
steady condition of the market, with very few
indications pointing in either direction; but
recliug OF weakness ensued. The crowd has
gone long quite heavily the past two or three
Iays and made desperate attemptto bull prices,
but they lacked either sufficient nerve or heavy
men to engineer the move, and didn't make
pronounced success of it. One or two nervous
.horts bought October wheat freely at 622sc, but
outside selling orders began coming ard some
local operators 50 it did not take long to break
the market. Speculation was quite active, but
the noteworthy features are few. Wheat opened
at about yesterday close, shade under for Sep
tember and declined Hc on that option and &c
for October. Corn declined q C and oats were
nearly steady. Provisions ruled qniet and were
generally easier, September and October pork
dropping 81, lard 1Oc and September ribs 10c,
while October ribs went up25c.
The wheat market opened about steady the
sustaining influences being the strength Of early
cables, a continuance Of small receipts here and
further falling Off Of receipts at winter wheat
points. There was, however, a lack Of support
ing orders and nearly everybody who had bought
yesterday, with Adams in the Van, began un-
loading as fast as possible and with only Hutchin-
son prominent buyer Lester and Schwartz
s. Dupee were in receipt Of selling orders from
the east, where the feeling seems to be decidedly
bearish. Here operations say, the market has
been pretty well cveued up and is really in a
better and more healthy condition than before
the break. 1t is comforting to look at it that
gay anyhow. The decline continued with more
Jr less fluctuations to the end of the days trading,
uhen September, which opened at S025c had,
after getting a higher, settled to 70c, and Octo-
Der, which started at S2Ac, yesterdays close,
and rose TO S25Gc had fallen to sic.
The corn pit was almost deserted, but there
vas enough trading to show decline of Il on
:he morning board, and operators were divided
n opinion rs to whether the falling off due
10 sympathy with wheat to the magnificent
crop prospects. As the crop prospects have
been equally brilliant all alolg,it probably in
sympathy with its superior Cereal. The opening
was weak at "a "a C OFF from yesterday close,
and during the early part of the day some ham
,pcring was INDUCED in by Wheeler and Gregory,
Schwartz, Secile and Brown, which depressed
price from B@1c. Later, there was irregular
buying 10y Rumsey, Brown, Hepburn, Stanley
aud Basar and portion of the decline was re-
covered. September opened at 5214c, went up
t.c, and closed at 51Ac October opened at
5uHc, went up TO J04c, and closed at 49Sc, a
loss respectively of "a C and &c.
oats were slightly lower, but on the whole
we're well sustained by Bob Wallace, who bought
heavily Of cash for shipment to New York to be
applied on his short contracts. The opening and
,losc we're at 25Jsc september, and 90 76c for Oc-
tober, the highest rise above these figures beng
l4c. The October close was the same yester-
day and the September 6 higher.
A little more activity was -howa in the provi-
sion pit than was the case yesterday, but things
were not rushing Hutchinson worked the pit
up a little by offering to take all the November
lard the crowd had for sale, bur he crowd didn't
want to sell very bacly, and only about 1000
iicrccs changed hands September lard opened
at 57.l7l9, and before the close had lost the odd
nc aud closed al $40, 1Oc below yesterday.
October opened csc higher than yesterday =
close, but fell or l.]ac, and closed at lOc below
at $3.50
IN pork there was little doing but Armour put
the price of September down from so to S19,
and october down from $40 to SIS.
Ribs were DUH but prices ruled drmer and
were advanced 5@1Gc early. The September OPP
tion however, got back to S10.50, the opening
figure, mt the close, thus showing decline OF
Zoe from yesterday, while October, on the after
noon board showed moro strength aud at the
close could be had at $40. 70, an advance of 25c
over yesterday
There was good demand for the best native
cattle and they sold quick at strong prices. Sec
oud class rather neglected but sold equally Il:
well ae yesterday Native grassers were slow, but
no lower than formerly. There were heavy
receipts OF Texas and territorial range stock
with sales no about yesterday prices. Stocker:
and feeders are scarce, and the demand slow
Cows nud bulls are scarce and the demand fair
Stock and calves are in light supply. First clas.
natives brought So 5Ult1; second class s.. 500
G.25; common Texas S3.S50l.25, Wyoming,
S3.t,Hi SO; few extra S4.gD25; Colorado'
SlwI25; Nebraska, Texas S3.5u@3.T5.
The dos market shippers were ont in full fore,
and wanted nj, the best heavy, for which the!
paid SG.GOt,c. - or 1Oc higher than yesterday
Mixed and medium made little or no advance
selling at Si.2J0G.50. Light sorts We're neg
ltcttd and slow at S5.15@6.50; grassers dull u
S5e55O. Toward the close prices were ratRe
weak and salesmeu who did not accept the price
OF the early morning rad 20 take less at noon
There were fcwcy left over than on yesterday
the market closing just at the weakness notet
above.
There was little or no change in the sheer
market Common continue to sell at very low
figures, while the best aro beginning to max,
better prices.