St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-20
Spectators Express the Opinion That
Few Days Steadiness VIII
MOye Wheat Upward.
Provisions Rather More Than Usually Quiet,
but the Manipulators Retain Their
Grip on the Trade.
The Wall Street Bulls in High Feather
Having Everything Pretty Much
Their Own Way.
CHICAGO.
Especial Telegram to the Globe. |

higher. There was stronger feeling at the
opening, there was also extreme dullness,
which lasted until nearly noon, when more
animation was shown. At noon the visible
supply figures were posted, showing IL, ,243,
$50 bushels of wheat, a gain of about 1,500,-
600 bushels, and 4, 42S, ,419 bushels of corn,
gain of about 50O 900 bushels. This in
crease, being smaller than was expected,
aided to some extent the irmness of the
market, though the fluctuations in these fig
ures do not carry as much weight as they
formerly did. There was possibly more of a
demand on the part of shorts to cover, but
beyond that the effect on speculators could
not be noticed.
Foreign markets were reported dull on
wheat, but firm on corn. New York has
been very strong, and receipts at winter
wheat points were lighter, the last two indu-
ences contributing their share to the i'm
proved condition of the markets. September
wheat opened 15c higher than yesterday IS
close, and closed at 79Tc, au advance of 1c.
September corn opened &c better, and
closed at 5215c, gain of 15sc, and oats for
that month opened and closed &c better at
25c. Provisions were not as active as during g
the last few days, but held their own as to
price. Pork closed at yesterdays figures,
lard gained Sc, closing at S7.65 for Septem-
Der, and ribs gained 214e on September,
closing at S1O.321a, and remained steady
for October.
Wheat opened strong and 35@19c higher
than yesterdays close, and though there was
not much trading, early values kept up and
the opening figures were the lowest of the
day. Comstock and one or two other large
traders started to make large purchases, and
were followed, as usual, by crowd of small
traders. This move, it was said, was for the
purpose of forcing into the market as sellers
j. T. Lester and Chas. Counselman & Co.,
both Of whom are supposed to be short, but
If the measure was successful nobody found
it out. At the beginning of the last hour the
market eased off little, but recovered to-
wards the close in sympathy with corn, in
which was the bulk of the trading. Milmine,
Bodman u Co. and Geo. c. Eldridge were
free buyers. September opened at 1890,
sold between that figure and 7915c and
closed at 70 18c; October sold at S056@S1 &c
lndcloscd ut Sic.
Corn was very strong and quite active.
The opening was firm at about the closing
figure of yesterday, and throughout the ses-
sion was supported by active buying by
Brown, Bliss, Parker, Baker, and Catlin
Mead, Beach, Wheeler, Kent, Hutchinson,
and Milmine, Bodman & Co., were free
sellers, bnt failed at any time to force the
price below the opening figure, nor did a
posted increase of 500 600 bushels weaken
it. The Chicago stores amount to only
about AT 900, and it is said that all of this
Ia owned by Baker, together with much
more than has been sold to him. This theory
leads some traders to anticipate an advance
soon that will squeeze some of the shorts
badly. The bears, however, console them
selves with the reports from Kansas, which
say that the crop is now assured, and that it
will be the largest and finest ever known.
The September option opened at 50Xc, went
up to 5215c, and closed at 524c. October
ranged between 494c and 50%c, and
closed at 503sc.
Oats were quiet and a shade higher; Sep
tember closing at 25c, gain of &c, and
October at 245sc, gain of sc.
ported in the provision market and the feel
ing was somewhat unsettled. Foreign ad-
vices showed weaker feeling in that quar-
ter, and lard was quoted Is Cd lower. East
crn markets were without material change
The market here opened rather weak and
lower prices were accepted on all leading
descriptions, but a stronger feeling was de-
veloped later and slight advances gained.
Receipts were fair and shipments were un-
usually large for this season of the year.
Prices ruled irregular in the lard market and
early sales were made at decline of . Is (G5c,
but the market soon ruled frmer and prices
advanced 10@l5c. Later decline of 5(171$c
was submitted to and the market ruled easy
to the close, which was at S7.60 for Septem
Der and s., - for October Ribs were quiet
and the changes slight September closing at
$l0.S2E and October at S10.12b.
The cattle market was dull and dragging
from first 10 last aud it was about useless
for salesmeu TO offer natives unless they
were ready to accept decline of 15c@20c,
and even at this concession there were but
few buyers. The dressed beef operators
were almost out of the market and there was
little or no shipping or export demand. The
best sales during the morning on natives
only reached S6.25@S6.3T1s, though there
were few lots that would probably sell for
81. 50td6.75. Common natives and butchers
stock are fully 25c@S0c lower than last week
and slow at the decline. There were about
eighty cars of Texans on sale aud they made
from 50@S4.12iS. There were seventy
five to eighty cars of Wyomings and Mon
tanas on sale aud sold for 81 1O6SS. rs, one
lot of choice making S6. There is good
demand for stockers and feeders and they
are making 50, 50GS4 a5.
Hogs were rather dull and prices ruled 10c
lower on good to choice packing goods, with
here and there load of fancy light or heavy
making equally as high prices as yesterday.
Sales at IS. 5096. 90 for assorted light, and at
S5.S0,66 IS for heavy, with the bulk at about
IS. 40@6.5o.
The sheep marketis is rather slow, and prices
are tending downward, with decline so far
this week of 25c per loo pounds.
Mccormick, Kennett K Day say: ''Prices
are very low, but until we see the effect of
the movement of spring wheat we cannot
tell whether the bottom has been reached or
not There is doubtless large short inter
est, and any diminution in receipts OF i'm
provement in export demand would augment
speculation and cause sharp upturn. On
the whole, We advise following the long side