St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-25
Union Pacific the Principal Suf-
ferer in a General Down
ward Movement.
Spectators Advised to Look Upon
the Marked Reaction in Union
Pacific with Suspicion.
Operators and Visitors on the Chicago Board
Of Trade Enliven Dull Day with
Speech Making.
The Fluctuations in Cereals and Provi-
ions Very Slight and Traders Even
ing Up Deals.
CHICAGO.
Especial Telegram to the Globe. |

special Telegram 10 the GlOO0.
| CHICAGO, Aug eat was the same old story
of dull and uninteresting markets on change to-
day. Things are dull enough, in all conscience,
any way, but when to the usual depressing in
| iuences you add the fact Of its being Saturday,
day when any trades except evening up will
have to be carried over Sunday, the effect can
easily be imagined Outside influences were
bearish, cables reporting the usual dull and
heavy markets on the other side, and the stock
| market failing to show single element of
strength in New York, reported more sellers
than buyers all day, thus helping he depression.
Nobody seemed to have any pressing business
| to transact, and when the chamber was invaded
by party Of distinguished visitors there was a
general cessation of trade, and for an hour
speech-making was the order of the day, and
short addresses were delivered by ex-Gov.
Oglesby, Gov. Hamilton and Senator Cullom.
who were among the visitors. This over, bust
ness was resumed, but no new life displayed.
| September wheat opened at roc. nc above the
close yesterday, and closed at 1890 Corn for
the same month closed at SIC, a loss of 4 C over
yesterdays, and oats closed at 251sc for that
month"; a gain of 1sc, though the other options
hardly held their own. Provisions attracted but
little attention and ruled weak at slight decline
| from yesterdays prices.
| The speculative market for wheat opened quiet
but comparatively strong and shade over the
last quotations yesterday, but the situation be-
came weak almost from the start and prices
moved almost continuously downwards with yes
terday's buyers leading in the selling. Among
the depressing influences were private cables to
the effect that Notwithstanding the report here
that war had been declared between France and
| China French exporters were free sellers, and
| this had tendency to discourage those who
had made the war scale ground for buying.
| September opened at roc, went up &c and then
fell off to close Of rs &c, decline Of sc. Oc-
tober opened at s0Hc, went up to sOAc, and
| then down to close of 79Sc, decline of Mc.
An operator in the wheat pit speaking of the
| situation said: "The receipts of winter wheat
will no doubt fall off materially after the close of
| the month. There were heavy sales of early
August grain on account of country shippers,
| and this will account in some measure for the
large movement we have had thus far. When
these contracts are all shipped in and filed
| think we will see lighter movement of wheat"
| Stocks of corn are light everywhere and hence
there is not much trading in the near futures for
| fear of manipulation.
1.-The prospects are so fine for the new CROP"
said Frank Kenneth, ''that believe may sale
on all bulges for 55c next May"
The opening was about steady at an advance of
&c and for time there was fair buying by
Canther, Baxter and Hepburn, witch sent prices
up another &c, but the weakness in wheat af-
fected the corn market unfavorably and at the
advance Sherwin, Everingham and Schwartz and
Dupee were quite heavy sellers and broke the
market, the feeling for tina rest Of the day being
dull and weak, the decline being to SIC for Sep
TENDER and 5O5sc for October.
Oats were generally heavy and quiet, the only
| strengthening feature being good-szed pur-
chases of September by Wallace, which advanced
that option &c, though half of the advance was
| lost after the influence was withdrawn, the
closes being barely steody at 251sc for Septem-
Der and 257sc for October, gain of 1sc on the
| former and loss OF IS on the latter, COM
| pared with yesterday last sale.
| Very little was doing in the provision pit, and
there were no important changes to note. Both
offering aud speculative accounts were light
and the fluctuations of prices were within
narrow range. Foreign advces showed no ma
terial change, and eastern markets were quiet
and steady, while the shipping demand was very
moderate. Very little was doing in pork, and
the only change to note a drop in the Sep
TENDER option from S21 to $50. Trading was
light in the lard market and prices ruled steady,
the only change being in October, which fell
21ac to 81. g. Ribs attracted little attention,
Prices ruled 10015c lower and closed quiet at
S10.42H for September and $500 October.
The supply of cattle was small as compared
with last Saturday. There was only fair
demand In fact trade was rather slow, yet the
fresh receipts were disposed OF at about the
same prices as yesterday, the market for the
week closing firm ON good natives, but lower on
common and western cattle. The best natives
may be quoted at S6.50G7, second class $500
SIS, native grasser SO so041O, native cows
and bulls S4.5002.75, Texas SO. 1003.SO, Wy
omings and Montanas S3.5304.75, stock calves
| S9.f56L917.
| With the fresh receipts there about co.
GOO hogs on the market, which were at least 10,-
900 more than wanted The market generally
was slow, and prices especially on common,
medium, mixed and light, were 1OG15c lower
! The best heavy were about 5@10c lower and In
fair demand. The market closed dull, with z, 900
| to 5000 unsold. Packers were not buying to any
great extent and there was little or no shipping
| demand. Armour, 1t was reported, had large
consignment direct from Kansas City, and it was
said there were other consignments for other
packing firms. The bulk of the best heavy sold
at s6.s5@6.50, q few extra and Philadelphia
| s6.6006. 65. Light sold at S6G6.5O for corn fed
and S5.5OG5.90 for grassers.
The sheep market quiet, with little or no
change as compared with the past few days
Hamill s. Brine, reviewing the market for the
week, say: 1--WE have to note fairly active
grain market during the past week. with no al
iteration from prices current at this time last week.
Wheat closes almost without fractional change,
,1o or1d sIr
Provisions have been active, speculatively, with
fair consumptive demsud for the whole list
Pork has been steadily held at SGT for August,
while for September and October the tendency of
values during the latter part Of the week has been
downward, resulting in decline OF about $3.50
per barrel for delivery during the months last
named Lard shows decline of the week of
about &c per h., while ribs remain
practically unchanged. The Huctua-
tions in wheat have during the past
week been on somewhat higher range Of value
than that current at the close of last week and
although prices are unchanged from those of last
Saturday we think that the trade generally are
inclined to believe that advance is more probable
than decline. Foreign advices are yet Of a most
depressing character and reported sales on for
eign account in this and seaboard markets have
added to the fimidity Of buyers. Receipts,
however, at Kansas City and ST. Louis show
marked decrease for the past week as compared
with the preceding one, and adyices from the
winter wheat belts generally indcste that farmers
are unwilling sellers at present prices. This can
hardly be otherwise and as there is probably no
country IN the world where wheat can now be
sold at productive cost, we think this acknowL
edged condition Of affairs amply warrants the e1-
pecration OF q favorable change before
long, We can only say with respect
to operations on this market, that we
believe judfcious buying at about
current prices viii prove remunerstive and felt