St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-15
The Visible Supply Statement Great
Disappointment to the Big Bulls
of Monday.
Nearly All the 0ld-Time Buyers of Prop
erty Now Vigorous Sellers of Grain
and Provisions.
A Moderate Days Business ut
Rather Easy Prices All
Around.
A Lively Day in Wall street, FOL
lowed by a Sharp Decline
in Prices.
Chicago.
Snenio1 IN fhe Globe

For instance, Bill Young, who has been a
chronic bull, to his own great loss, from a
time to which brokers cannot figure back,
is an avowed bear now. McGeOch, who
used to be so rampant bull that everybody
who ever sold anything hated him, is now
one of the biggest and most determined
bears here. Armour talks beariSh on
wheat, and Plankinton and Ed Sanderson
and the other Milwaukeeans certainly feel
the same way, if they are not trad
ing the same way. The compare
lively small decrease in the visible supply
this morning, where much larger
one had been expected, caused wheat to
open about &c lower, but news soon came
in that the crop in Southern Russia had
been ruined by drouth. and this, in addition
to the previous buying against puts, pro-
duced an early upturn of 1z@%c. At that
point, however, there was good deal OF
wheat for sale and prices gradually and
SLOWLY FELL OFF.
Just now it has become popular to buy
and bull everything in the speculative line,
and hence the market is getting One-sided,
and by so much clipping its own wings.
There is nothing new or more startling in
the wheat situation than has been known
for weeks, but the furious uproar in Wall
street has swashed over into the
produce exchange and grain markets
and made good many operators
a little hasty and eager. The crowd are so
fearful of ''getting left" when the real
wheat boom does set in, that they are
willing to buy now and hold on until the
train gets ready to move. Liverpool was
inactive and cargoes depressed and neg
lected, with another decline of pence per
quarter. New York opened re lower and
Ct nnic 10 h11f fhQ laffpP morypt CfiffpnaH
on light receipts. Even Prime admits that
spring wheat now gives promise of good
average crop, while the light movement of
winter from first hands is explained by the
fact that these early receipts usually come
from just those sections where the damage
HAS BEEN THE WORST.
o. II. Roche bought probably 800, 900 bu
of wheat after the market had weakened
off. His purchases sent September wheat
up to 81 &c and advanced all the other
options about 5s@Nc. There was variety
of opinions as to the meaning of Roche'S
buying. Some thought that he was acting
for Gyp Adams and covering the Adams
shorts. Others thought that the wheat was
Roche's own, and that it would soon be on
the market again. At 1 o'clock the close
was just about at the opening. This after
noon there was continued disposition to
sell, and the market further receded &c,
with a weak tone at the close and sellers at
inside prices of the day. We note a decline,
as compared with yesterday, of about &c,
at S6%c for July, $500 for August, 9Os5c
for September, 923sc for October. New
May wheat sold at S1.02.
Corn, under the influence of better ar
rivals here and lower prices abroad, opened
Nc lower and declined 1c more, after little
early firmnesS, in sympathy with wheat.
The market was much weaker to-day, Of
ferings for future delivery having largely
exceeded early demand, which resulted in a
comparatively
SHARP BREAK.
when the recent SteadineSS is considered.
We note a decline of nearly 1c. with trading
prices at o'clock fully &c below yester-
days closing figures. On the afternoon
board there was continued weakness, and
inside prices for the day were touched. We
note decline for August delivery as
compared with close yesterday after
noon of 16c. 1t looks as though
we should now have more corn sent in from
first hands, as the new crop is promising so
well that farmers will lose their fears.
Liverpool was inactive on corn, as well as
wheat, and cargOeS were another Sd per
quarter lower. With the present outlook
d
time when this cereal will take its proper
place with other grain in regard to price.
The visible supply showed but a small de-
crease.
OATS WERE EASIER
and lower, in sympathy with other grain.
Business was only moderate, speculative
transactions having been almost wholly
confined to local account. This afternoon
the feeling was weaker, with inside figures
only obtainable at the close. AS compared
with ruling prices at the same time yester-
day. decline of &c is noticed. Late
figures are 81 &c July, 26ssc August, 2515c
September, 2S5Sc October.
Provisions, with somewhat lighter re-
ceiptS of hogs, were stronger early, but
later in the session ruled weaker under
more liberal offerings by holders. The
weakness in grain influenced the feeling for
all the product during the latter part of the
morning session, and values showed some
decline all around from yesterdays closing
quotations. On the afternoon board prices
again receded under increased disposition
to realize, and as compared with last figures
OF yesterday we note decline in mess pork
OF 1870, i'll lard of sc and in ribs of SC,
with weak tone prevailing. The closing
Tor all products, August and September.
was .20@10.271l for pork, $6.62X@
$40 Tor lard, S5.5215 @5.6 GO for short ribs.
The Quotations.
CHICAGO, July H.-Flour quiet and I'M
changed. Wheat opened 14@ssc lower, but
reports of very poor yield in Kansas and
damage to the Russian crop caused good buy
ing and an advance of sc in prices. The Of
ferings were large at the advance and prices
fell back to the inside and closed &c under
yesterday. Sales ranged: July, S70s7s5c,
al n Anner - nnI.F
$500; September, 901z6913Sc, closed at cole:
No. spring, SIC; No. spring, 7s15679c:
No. 2 red, 92@93c; No. 8 red, S76S7I[c.
Corn active but decidedly weaker Owing 10
tine weather and liberal receipts, prices de-
clined 3sG54c and closed at the inside: cash
461a@46e@c; July, 46139471sc, closed at 4GI%
August 461s@465sc, closed at 461sc; Septen-
Der, 457sC9463sc, closed ut 455Ec. Oats dull
and weaker, especially for cash; cash. Bic:
July, 3l34@32c, closed at 3l54c; August,
261a@26$4c, closed at 261ac; September, 255z
@255sc, closed at 255sc Rye steady; No. 2
Csc. Flax seed steady; No. 1, Sl.26. Mess
pork ruled active and prices advanced lO6
12Lc early; fell back 15@20c and closed steady:
cash, SIO.20@0l0.3O; August, SIC. 2215 colo. 40,
closed at S10.2212910. 25; September, So 80
Ql0.40, closed at $l0.30010.321$. Lard opened
firm and 21a@5c higher; fell back 7156GIOc
and closed tame; cash, $6.6006.621@; August,
S6.6006. 40, closed at S6.60U662 Sep
TENDER, SO. 1906. so, closed at ST.. TOd6 72L
bOAOu AhSoto StSouy, uiy SailSu sHOuluefS,
IS. S0G3.90; short rib sides, S. so; short
clear sides, $5.80@5. S5. Whisky steady at
S1.15. Sugars steady and unchanged. On the
produce exchange butter quiet and a shade
easier; creamery, 15G16c; dairy, 12Gl3c:
eggs steady at l012Q11c. Receipts-Flour,
$4,000 bbls; wheat, $4,000 bu; corn. co.,
600 bu; oats, $4,000 bu; rye, 1000 bu
barley, 1000 bu. Shipments-Flour, Ia, 900
bbls; wheat, 80, 600 bu; corn, $4,000 bu; oats,
IIS,000 blu; rye,s 900 blu; barley, 1000 bu. At
md 4
Corn weaker and 5s@1zc lower. Oats 1s@Lc
lower. Pork 21%G1ic lower. Lard Inchanpnd