St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-24
The Struggle of Bulls and Bears for
Supremacy MayssNOw be Safely De-
clared Draw.
The Grain List Showed Improvement at
the Close But Provisions Were
Lower and Weak.
Rumors of n Probable Squeeze in July
Oats Has the Effect to Send That
Article Slkyward.
Everything Sailing Upward on the
Stock Exchange Northwestern
Goes Above Par.
Chicago.
Special to the Globe.

CHICAGO, July 23.-1ne DAY on 'cndnge
was quiet and but little trading was in
dulged in. At II o'clock President Blake
called the board to order, and announced
the death of Gen. Grant in a few brief and
Well-chosen remarks. and then offered reso-
ntions of respect to the dead heros memory
and rendering the sympathy of the board TO
The afflicted family. After the resolutions
we're adopted Congressman Durham moved
llat as a mark of respect for the memory
Of Gen. Grant the board adjourn for the
day at - o'clock, which motion also was
carried. The board then resumed trading
until II o'clock, when it adjourned for the
lay.
The market opened firm at shade over
Yesterdays close, but a decline set in almost
Immediately, the general feeling being
bearish Weakness abroad and the failure
of any reports showing the crops to be in
any immediate danger from unfavorable
weather united to create 4 feeling of de-
preston. The early feeling in regard to
wheat was firm one, and accordingly Sep
TENDER opened Il higher at Gle, but the
bears came out in full force, and sold the
market down to the put price, 9OAc. At
this point some Of the shorts began to fill
and the bulls to buy, and prices advanced
nearly to the opening. The situation in
wheat Just now is rather critical. The
weather is not good either for the grain i'll
the field or in the warehouse, and
hence there is fire of cross purposes
between the two parties that keeps
THE MARKET NERVOUS
and hesitating most of the time. Liverpool
reported a downward tendency, and car
goes were slow and neglected with the
weather in England brilliant. The amount
of wheat and -four now on passage to the
United Kingdom is reported as $4,000
quarters less than last week, and to the
continent 40. GOO quarters less. New York
opened rather steady, only falling off &c,
but st. Louis was more beariSh early aud
dropped away 19c. OF cOusSe any accident
to the spring wheat crop at this critical
period would be a calamity whose far
reaching effects might trouble both CONT
nents. On the other hand, with no Euro
pean disturbance and good harvesting
weather, there will be an amount
of wheat Oh hand this fall which
will make any great rise impossible.
Operators, therefore, can only study the sit
uation and take their choice of probabilities.
The close was steady, about ~ over yester
day, at SS1l August, 90% September, 9S%
October. One enthusiastic bull offers the
following argument concerning the Situa-
alton: 1.-The situation in our opinion grows
daily stronger. Crop news does not i'm
prove. Over 600 reports about the winter
wheat harvest make the following replies:
First-'What progress has been made with
harvesting?' -Four hundred and fifty-SiX
say good, 131 fair and only % poor. Sec
Ond-'Have you raised enough for bread
and seed?' Three hundred and fifty-two
say yes, $50 say no. Third-'Will you
have any surplus over amount required for
your local consumptiOn?' Two hundred
and thirteen say yes, 420 say no. Here is
nearly one-halt the points in our winter
WHEAT TERRITORY
who state they have not raised enough for
bread and seed, consequently must be steady
buyers of wheat until another harvest, and
when we find them already doing so it
looks as if our large stock of spring wheat
will soon all be required"
Corn continued to present a firm front
to-day and left the region of 45c for Sep
TENDER for the next higher station. In
spite of crop predictions and all other talk,
the situation in corn is a strong one, and
bids fair to continue so for number of
months, unless receipts greatly increase.
Liverpool reported corn as weak, but
not quotably lower, while the amount of
corn now on passage to the United King
dom is the same as one week ago. August
and September to-day opened about &c
higher and advanced 14@3Sc more, closing
at 1910 August, 45}sc September. 45c
October. The feature of the half-day's
tradingS was the development of a little
squeeze in July oats. 1t is incipent in its
present stage, though there is no telling
what proportions it may assume before its
elimination on the last day of the month.
The report is current that there are some
200, GOO bushels of ''ShOrtS" out, and that
about ali the oats are held by Kammerer.
Be this as it may, the latter gentleman was
quite industrious in bidding the market up
to-day, but as usual when ''corner" is
talked of only
A FEW SHORTS CAME IN.
They say Morse-Ward delivered out
good many oats yesterday. For the rea-
sons given July oats sold axe over yes
terday, closing &c higher at sage, August
closed ~ higher at 2GBc, September 15c
higher at 2555c, October sc higher at
2515c.
The provision market was dull to stagna-
ton. There were but few orders on the
floor, and but little stuff was sought for.
Receipts were again large, about 16. 200,
and the market closed 21Ic lower for all
products. Fluctuations were within a range
OF sc for the day.
The Quotations.
CHICAGO. July 23-Flour quiet and un-
changed. wheat ruled rather quiet. The
market opened stronger. quickly fell back sc,
rallied PC. huctuated and finally closed &c
higher than yesterday. Sales ranged: July,
B71S@S75sc, closed at S754c; August, SS11Cb
6S5sc, closed ct SS156I8S5sc; September, 901I
00114c, closed at 905sc; No. 2 spring, s75sc;
No. spring, 791%US0c; No 9 red, 931sG94c;
No. 3 red, S71a@SSc. Corn moderately active
and firmer, prices closing sc higher for Au-
gust and &c higher for September; Cash,
acc; July, 4G0461sc; August, 4515045s1c
closed at 455sGG4534c; September, 451+ 6l41ssc,
closed at 451a@455sc. Oats ruled excited and
higher for the near options, with strong buy
ing; cash, Bic; July, 3lG325sc, closing at
8215c; August, 251s6261sc, closed at 251Ec;
September, 254G5253sc, closed at 253Ec. Rye
firm; No. 2, 5s1@c. Mess pork quiet
and steady; prices 21aG5c lower; cash, 5000
G5l0.25; August, $l0.20@10.25, closed at
10.221HDl0.25; September, SI0.30l10.35
closed at Sl0.305I0.3215. Lard quiet and a
shade easier; cash, $6.jT1l@6.6O; August
s6.5735@6.60; September, S6.G596.7O, closed
at S6.6712Q6. 20. Boxed meats steady; dry
salted shoulders S4.15GI4 .25; shortclear sides
SO. lOG6.l5; short rib sides, SIS. G5GD5. 67L
Onthe produce exchange butter ruled steady
and unchanged. Eggs, lie. Receipts-Flour
10000 bbls; wheat, 1000 bu; corn 2l6-
BOO 5u; oats, $4,000 bu; rye, 1000 bu;
barley, 5000 bu. Shipments-Flour, 5000
bbls; wheat, 10000 blu; corn. 3S2, 600 bu; oats,
$1,000 bu.
The Fluctuations i'm Detail