St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-18
PLENTY OF MONEY.
But There's a Manifest Lack
of Confidence in Wall
Street,
And the Stock Market Yesterday
Was, Therefore, Exceed
ingly Dull.
Spectators Went Over to the Produce
Exchange, Where There
Was More Life.
In the Chicago Markets Everything Stronger
Except What's Under ,Amour's
Big Thumb.
Fair Shipments and Light Receipts of
Grain With Favorable Reports
From All Markets.
Fair Shipments and Light Receipts OF
Grain With Favorable Reports
From All Markets.
CHICAGO.
Especial Telegram to the Globe /

Especial Telegram to the Globe.1
4 CHICAGO, July 17.-Prices to-day favored the
| bulls and "a marked advance over yesterday s
| closings scored in everything except pork,
| which is under Armour thumb, and already 81
or So too high The advance was chiefly due to
q return of confidence consequent upon the belief
| that no further troubles in the business world
result to drive prices down to-day as was the
case yesterday and the day before, In addition
/ reports of foreign grain markets were favorable
and shipments from this point were largely in
excess of receipts. Grain opened strong under
| these Influences and an active demand from
1 shorts and the course of prices was steadily up
ward, the closing prices on the
regular board being nearly the highest
Of the session. On the s.fternoon board there
was less activity, the shorts having nearly all
| covered, and prices settled back somewhat. In
| the provision pit quite good speculative bus-
ness was transacted. Offerings for future de
| livery were fair and the demand was quite active
| at times, especially from shorts. The feeling
was somewhat unsettled and prices iuctuated
considerably within moderate range, though
averaging higher on the leading articles The
market for both corn and hogs ruled higher
which had some effect on the market for hog
products. Foreign advices showed no particular
change in that quarter aud the eastern markets
were steadier in general way.
Receipts were moderate and the shipments of
| all descriptions liberal.
! in answer to an inquiry as to the price OF pork
trader in provisions said: 'sThere has not
been a trade in it. This was at II a. m s"The
price of pork continued the trader .sdepends
altogether upon how badly you want it. Ii you
are grocer and sell stuff to the lumber people
up in the woods, believe / can skurry around
/ and get little stuff pretty reasonably cheap.
| III you re one Of those gamblers who was SILL
| enough to sell pork when the panic at it Y
| height at New York upon the theory that Phils
Armour weak some of the more
| pretentious milhonaires down east-Nhy, guess
you'H have to pay pretty good round figure for
| your pork"
| Trading In wheat was active, and though main
| ly on local account there were more outside or
! ders than for some time past The feeling was
| somewhat unsettled, but prices averaged higher
under the influences noted above. The taking
of vessel room for 100000 bushels also helped
| the long side. In Kansas the weather has been
damp and wet since Sunday, and not dry enough
! yet to thresh The indications are that Kansas
and Missouri farmers will sell freely at the mar
ket price, whatever that may be, but farmers in
Indiana and Illinois will sell but slowly The
market opened Ac higher, ruled steady
| for while and then advanced
shorts. Later, however, the most urgent demand
had boen satisfied. aud New York not reporting
| to the early advance here, there was more to
realize, and prices declined 14@qsc: but the
market again recovered later advancing under q
good demand 11s@1Ac, 1uctuated and finally
| closed about u higher for August and Sep
.ember, and 1c higher for October than at the
| closing session yesterday, the figure for August
being 84Sc, and for September SIS nc. On the
afternoon board the feeling was easier. August
ranged at S3s4 @83Ac, and closed at Sac, and
September ranged at S4S @S59ac, and closed at
| CSC bid.
Corn was active, especially on speculative ac-
| count, and at times excited. The feeling was
| unsettled and prices considerably higher The
market opened irmer and A@S higher and I'M
| der an active demand, the advance of yesterday
having brought out large number Of buying or
ders, the market improved 101Mc more; then,
| when the most urgent demand from the shorts
| was filed, declined about q under large Offer
| ings. Later there was rally OF ole and then
fluctuations to the close, which was 1Isc higher
for August, September and October-rhe closing
for August and September being 54cI and for
October 53c. Freight engagements were re-
ported for 100, ,000bushels. On the afternoon
/ board prices were q shade easier.
| Oats showed considerable more activity in the
| speculative market and an unusual degree Of in
terest was suddenly developed, operatorsbestow-
ing good deal Of attention upon it, and the re-
done for some time past Evidently the shorts
were covering, and for all future deliveries prices
| ranged S@11sc higher, while July was "a c
above yesterdays close. The advance all round
! was maintained to the close, which was at 27c
for August and 1850 for September. On the
afternoon board trading was light and the market
| trife weaker
| AS usual there was very little doing in the
pork and there is particular change to note in
| the market.
A fair business was reported in lard, chiefly on
speculative account. The feeling was firmer
early in the day and prices were advanced 100
12Mc, but later reaction set in and most of the
advance was lost. Offerings were fair and the
| demand moderately active. August closed at
S7.20 and September at S7.35. Prices were a
shade easier in the afternoon.
Trading as moderately active in short RIBS
and stronger feeling prevailed. Offerings were
fair and the demand quite active. Prices ruled
somewhat irregular, advancing 10000 early, but
| settling back again 5G10c. and closing steady at
S7.75 for August and 81. so September
The cattle market dull under the very
heavy receipts and all descriptions of cattle sold
lower. There is an increase of nearly 1000 over
this time last week, about 1900 of which are to-.
day. The best fat cattle were slow and strong
10@15c lower. Among the arrivals were several
droves Of prime fat natives and a large number
OF fair to good grass cattle. There was also
large number of poor grassers and other common
native stock that sold 30G40c lower than at the
opening of the week. There were about 100
cars of Texans, and 10 or so cars of Colorados
and Indian Territory cattle, which, with odds
and ends, would make nearly 200 cars of western
northwestern and southwestern stock on the
market. Texans were 10GI5c lower, making
the decline 2564Oc for the week Old cows,
common bulls, and all sorts of scrubbv native
stock were 10G15c lower, making the decline for
the week so far 30040c. Stockers and feeders
| quiet, with little no change in prices There
| was q keen demand for fine assorted light, and
| the best Of these sorts sold at 501Oc higher dur
ing the early hours Of the morning but later this
advance was mostly lost. Heavy sorts were only
barely steady on an average. An occasional car
load OF may have sold early at an advance of
| sc, bnt the bulk went out at Yesterdays prices
The general market closed raher tame There
was only a limited demand for skips culls. light
| light and throw outs, and prices were almost
| nominal.
Geo. Brine said to-day: .swheat is now cheap
er than it has been in IS years-actually cheape,
for money. An advance will come ike thief in
| the night.
J.w. Ramsey s Co. say: cat present the
feeling here is .'bullish,n and with gradually de-
creasing stocks we would rather buy on the soft
spots than sell. With limited wheat receipts
and good shipping demand we can see but one
! side to take on corn and that is the bull,
| The Chandler Brown Co. say: ..In view of the
| fact that il is some months yet before the corn
crop OF 1854 Will reach the market and that reli-
able adyces say that the stock Of old corn is not
large, We believe that before long we will see q
substantial advance in prices, Notwithstanding
the fact that it is now relstvely higher fhan any
! other Of the speculative articles
Mil1ine. Bodman & Co. say, "we think the
situation more favorable to the bulls and
/ prices can EASILY be advanced another cent
or two We think foreign markets are IN condi-
ton to respond quickly TO q national advance on
this side. We still advocate purchases o7a hreaks
believing that this wheat must eventually sell
for more money for legitimate purposes
Mccormick. Kennel s DaT say: ssThe seusi-