St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-28
THE ST PAUL DAILY GLOBE FRIDAY MORNING MARCH % 1884

with unusual trepidation, and 1t was generally
deemed it would mark crisis either for much
lower range of prices or to compel the bear ele-
ment to cry halt for any further breaking of
prices It was deemed that q further sharp de-
cline would bring down great many houses, as
the strain has been one of unusual tension,
prices touching figures never before known in the
history Of the grain trade at this season of the
year. The opening scenes on the trading floor
were of the most exciting character aud of a
panicky tendency. Two or three small houses,
long on wheat and who could not carry their
holdings any longer threw them on the market
at its opening and accepted prices fully 1c under
the lowest figures of the preceding day. Rumors
of the failures of these firms also added to the
nervous feeling during the first thirty minutes,
but following that the market generally showed
more steadness. Throughout the entire ses-
sion, however, trading actions were Of the heav-
lest possible description, large blocks being Of
fered and taken readily. and while there was
lun in the predominant activity Of the wheat
crowd when prices would sag little, values rose
steadily, and with them came an air of conf
dence, which was expressed at noon, that if
there had been any danger of pinch it had al
ready been passed The confusion attending
the opening of the wheat market was such that
sales in various parts of the crowd varied X@1c
To follow out orders to sell at the opening one
would have to accept the best bid made in the
vicinity of the seller, as the uproar was Of such
character as to prevent operators from knowing
the nature of transactions in distant parts of the
crowd. The wheat market opened 1910
lower, but rallied with some fluctuations &c
above inside prices, receded &c, rallied 1c, and
finally closed about Il c lower for May, 5c higher
for June and &c lower for July than yesterday.
March and April sold down to s1ssc, up to s3%c,
closing at $3.50; May sold down S6A 086Sc, up
to $3.50, and closed at $3.50; June sold down to
CSC, up to 90%c and closed at 90Ec; July
ranged from 8Sh091hc and closed at 90Ac
On the call board the scenes Of activity were re-
newed, and 2, 700, 900 bushels sold at an advance
of 4s91he, May closing at S9c, June 91c and
July 1Sc Outside sales of May wheat were
afterwards reported at $3.50. There has been q
better demand for cash wheat since yesterday af-
ternoon, and from 100000 to 100000 bushels
were taken for shipment, supposedly for export.
The market for corn was moderately active and
somewhat unsettled, ruling lower early, but raj
lied subsequently and closed steady. The
ket early was about %@hc lower, rsllied 1@1hc
and closed &c higher than yesterday. March
closed at 49Tc and April at soc; May ranged
AAolA ooId ESof|9S' Siosou az ofISNs oun0 iohSeu
from 54B 055Sc, closed at 55Ac; July ranged
from 56AD57Xc, closed at 571lc. On the call
board 100000 bushels were sold at 5000
higher, May closing at 5516c. The market for
oats broke 14@hc early, but afterwards rallied
&c, and closed steady. May closed at $3.50 and
June at 1890. On the call May sold down to
33Ac. Mess pork was fairly active. Declined
20G25c early, but rallied again and closed steady.
May closed at S17.72H@17.75 and June at
S17.S2A017.S5. On the call options advanced
2H@5c. Lard was fairly active but easier early;
closed strong. May closed at S9.35@9.37h and
June at $9.42H09.45. On the call June ad-
vanced ENC.