St. Paul daily globe., 1885-03-07
Wheat Again Irregular and Lower
Owing to War Rum0rs and
Liberal Offerings.
Corn and Oats Open Quite Strong, but
Weaken in Sympathy with the
Leading Cereal.
Provisions Stronger and Higher at the Open
ing, Closing Dull and Mark
edly Lower.
Lackawanna Boosted to 1O5 1-2. but Suffers
Relapse at the Close-The
Other Stocks.
Chicago.
Special to the Globe.

CHICAGO, March 6.-The market to-day
was less active, closing lower than Yesterday.
Wheat ranged at sO@S29lc, closing at SO15c.
May corn sold from 413s@42Ac, closing at
the lowest figure. Oats were steady, May
declining &c and closing at 31c. Proyis-
ions opened at prices slightly higher than
Yesterdays close, but reacted, closing weak
and lower at S1250 for pork: $685. for lard
and sG.35 for short ribs, all May. The war
barometer was again hung up in the wheat
pit to-day, and as it iuctuated so did the
price of grain. AS one dealer expressed
it: sThere is more war in Chicago than
there was in Europe.'' The May option
opened at S215c, but broke soon after the
opening of the morning session and went
down to S12Sc. The fall was due to the
fact that cereals were quoted q shade higher
than Yesterday, and the fact that the tone Of
the foreign markets, as published in the
morning papers, did not reflect the war feel
ing that was talked on this side yesterday
The market throughout was emphatically
THE sCALPER's DELIGHT,
and the wheat pit, about which all interest
centered, was at all times lively and occas-
ion ally excited. The May product was nerv-
Gus and exceedingly active, aud great ele-
ment of uncertainty was added to it by the
idea that the man who is now thought beyond
any reasonable onjccture to stand behind
the bull party, might take notion to boom
it point or two. The big brokers who came
within fraction Of taking the market to S3c
yesterday, exhibited certain confidence in
the face Of the decline very akin to the
faith Of the Christian in a straight flush, and
their conduct prOFed quite puzzling to the
''gang" Toward the close a suspicion
spread abroad that some parties who manip-
ulatcd the boom were letting the drop come
gradually with the close Of the week in antic
ipation of big rise next Monday, and the
feeling was very
UNSETTLED AND NERVOUS.
At one time there was a squirt made and the
option sold up to S2$Ic very rapidly. This
was due to the decliLe in consols and sem
satiOnal dispatch to the effect that large
body of troops had been ordered to leave
Canada for Egypt. Bat the market broke
again. The large dealers were inclined to
talk very bearishly, but whether they mean
what they said was question. 1t was fact,
however, that the price fell off toward the
close Of the morning session selling down to
81c and it closed very weak at S115c. On
the afternoon board great quantity of May
wheat was offered by New York purchasers,
and the result was sudden break to SOC,
the lowest figure of the day. But, as there
are heavy buying orders here at soc, opera
tors took all that was offered at that price
and the decline was checked, the closing
sales being reported at S13sc. Seller March
was quiet, opening at 771Sc and closing at
T4Mc. April sold up to 775sc, closing at
15Ac; while June was quoted at 81 11@S32Ic,
closing at the lowest price. In discussing
the situation tonight George Brine said:
81 do not now regard trading here
as being based upon the merits
of the grain situation, operatives
now being but little more than gucsses as to
what the next news will be. l regard pre-
dictions as worthless, every one having equal
facilities for estimating news probabilities.
think, however, that the Russian scare is
about over, and we must fall back on
Egypt, that war having Of late been entirel y
neglected"
CORN HELD UP FIRM
for April. while other matters showed an
easier tone, in sympathy with wheat The
bulk of the trading, which was very light,
was confined to May delivery. The foreign
news was satisfactory, and slight advance
was reported at Liverpool, and with higher
cables aud lighter receipts the market should
have been other than slow, dull and
&c higher than yesterdays close,
but rapidly fell off to 4135c, at which figure
1t closed. March opened sc off at IS Sc
sold up to 3Silc, closing at 375Sc April
opened at 3SAc, sold &c higher, and then
went slowly down, closing at 375Sc, June
was not traded in to any extent with prices
about the same as May, closing s less at
411Ic. There was fair speculative demand
in April and May oats, but the market
closed weak and featureless I@4c lower,
quoting March at 279sc, April 2T15c and
May Bic.
PROVISIONS WERE FAIRLY ACTIVE
on local speculative account, but prices kept
changing along with wheat. The local
traders felt bearish and governed prices to
suit themselves, and the opening figures
were the highest of the day
in nearly ell options. So also were the
lowest quotations of the day, the closing fig
ures in nearly every instance. May pork
was heavy aud the reverse of active, opening
10c higher at Sle.55, reactiug TO sl2.5T 4
during the morning session, and closing
later at $3.50. March pork opened al
$12 90, closing S12.6 under the same de-
pressing influence that lowered the May op.
ton. April closed 29hc lower than the
opening ut $l2.50, aud June 15c lower at
Sl2.621. Lard quotations were merely nom
iusl, nothing being done with that product,
closing 5@6tsc lower at $6.S2$ March,
S5.S7l1 April, S6.95 May aud sos June.
At the opening prices for short ribs were
slightly higher, hut there vas light trading,
andthe market closedwesk and lower at So. 20.
March, S6.s5 April, S6.35 May and s6.4sh
June.
AT THE STOCK TARDs
the receipts were again light aud for the week,
50 FAR, there has teen remarkable falling
OF iu the supply. AS compared with last
week there are IL. 900 cattle, $4,000 hogs and
$4,000 sheep less. Values on cattle aud
hogs were shade higher and there was a
demand for about all on sale. The sheen
market is at its lowest, prices falling to about
the low figures OF 1865 aud 1870, aud abou;
&c per 100 lower than this time last wear.
The Quotations
Western Associated Press.
CHICAGO March s.-FiOGr, dull and unchanged.
Ill. 81.