St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-30
The July Dat Corner Peters Out, Values
Dropping Two Gents During
the Day.
Monetary Affairs Generally Quiet, but
New York Exchange Little
Firmer.
Stocks Steady but Strong, and the OPP
posing Hosts Eyeing Each Other
Cautiously.
Chicago.
SDncin1 m fha Globe.

Ddu CTOD ICpDIIS. LaONlCCS llOul
wheat regions, however, were conflicting.
some declaring that the crop was all right
and others asserting that it was badly in
jured by storms, blight and bugs. The
crowd concluded finally to believe the bad
reports, and after an early decline the
market advanced above the call price to
90Ec for September, where it halted and
then sold down below soc. Light receipts at
winter wheat points also stimulated rise.
A good many shorts were out for Septem-
Der and there was an evident effort on the
part of the bulls to make them ''come ill.,"
Liverpool was reported Every heavy" and
cargoes were slow and dull. 1t was hoped
by the bulls that this mornings storm
might be extensive, as that appeared to be
the only hope of making raise" and ad-
vices were awaited anXiously. Storm news
came in as was prayed for, and forthwith
the bulls began to below and paw up the
earth. According to accounts such storm
has never heen known in the wheat-growing
district in Minnesota and Iowa. SO ran
the records. Wheat was driven into earth
by rains that must have reSenbled second
deluge. In Dakota the cyclone got in its
perfect work, and grain was so tangled and
matted and swept down that the reaperS
could never be run, and if there was a har-
vest at all it must be made with the sickle,
and modern Ruths would be in demand as
cleaners. Any idea that the country specu-
lator does not
WATCH THE MARKET
closely merely because he does not dip
in" Oh every fluctuation, would have been
effectually dissipated by the way he acted
throughout the day. He wanted to buy all
the wheat there was. The storm had
caused a little damage in his neighborhood,
and like milk sickness 1t was good deal
worse in the next county. Orders came
pouring in from every direction, and there
was no cessation. In addition a large
number of shorts deemed it advisable
to cover, the combination affording all the
strength that could be desired. 1t was re-
ported that Ream alone covered 500, 900
bushels. Some very heavy transactions in
September were made at 9019@902lc, and
October touched 92Tc. The bulls attrib-
uted the falling eff to combination that
had been formed to break the market.
One of the bulls is authority for the
statement that the Lester crowd sold
heavily early with that intention, and later
bought back heavily at decline, Yerxee
is also reported to have been a heavy buyer.
The market was supposed by some to have
been held, to great extent, by the privi-
leges. The put and call price on Septem-
UCI was pIcblN CIOSe, StdIulllR IGSDCCllNtlN.
1880 and 903sc. There are, of course, two
sides to the crop story. n. b. Ream and
his followers are rapidly getting over the
Idea that any appreciative damage has re-
suited to wheat
IN THE NORTHWEST
from rust, by hail, bugs, or from other
causes. The change comes through receipt
of telegraphic adviceS from sources which
Mr.. Ream considers entirely trustworthy
to tn effect that in the Northwestern states
and territories the crop is practically unin-
jured. The arrival of the first car of new
wheat, sent from Missouri, had depressing
effect on the market, as fresh arrivals are eX-
pected from this time on. Kansas, Missouri
and Southern Illinois are expected (by the
bears) to aid in depressing the prices
Whatever the influences were, or what
their origin, it is certain that very tame
close was the direct result. Although the
decline was not marked, even the bulls
would fain confess that the bears earned
their victory. About IL is the decline for
the day, at S65Sc for July, S7ssc for
August, 5000 for September, 91%c for
October.
This was one of the days that corn
dropped some of its strength. Receipts
were light, and there is belief that much
of the visible is imaginary. At all events
there was not enough strength in the
market to Withstand the decline in wheat,
and the close to-day shows falling off of
&c. The market opened quiet and &c Off
at 1870 for August. The close for the
same month was sc lower at 45kc The
firm foreign market was not sufficient to
effect a weakness here, and the general
close was 15@1c under yesterday at 455Sc
for July, 4514c for August, 4514c for Sep
TENDER, 4456c for October.
QUOTATIONS FOR OATS.
The July oats corner is gradually coming
to light through the little end of the horn.
They opened up in quite brash manner
to-day, 33c. selling now and then at that
price, but before the close of the morning
session broke off sharply to Bic KAN
merer, who is given, by common consent, as
father of the deal, did what he could
to support the market, bidding 14c or lie
above for impossible amounts, but others
succeeded in breaking it down, much to his
apparent discontinue. The long futures
went off fractionally, as there We're no sus-
tanning features. The close was quiet at
decline, at 3024c for July, 2524c for Au-
gust, 245sc for September, 25c for October.
May oats closed at 2S3sc.
In the provision pit there were no eXcit-
ing features. Openings were slightly above
receipts of hogs, and the demand for the
same from packers and shippers. About
the only transactions were the transfers of
futures from one month to another. An
gust pork opened at .20@1O.2 2% and
gradually sold down to $40. 10, closing weak
at that. There were no changes in the
price of lard and ribs, as trading was too
light to merit mention.
The OuOtations.
CHICAGO. July 29.-Flour duh and un-
changed. Wheat active, but unsettled. The
market sold off &c early, rose lie ON bad
crop reports, declined 1c and closed on the
regular board &c higher than yesterday.
Sales ranged: July, S05sQSSc, closed at
8714c; August, S719@ss5sc, closed at s7s<c:
September, S9sS@905sc, closed at soc:
October, 912sGg93c, closed at 921Sc;
No spring, S714@S754c; No. spring Te6
Soc; No. ? red, 92@94c; No. red, s7s[c.
Corn ruled firm early but declined &c toward
the close and closed 1s@Hc under yesterday.
Cash, Acc; July, 4604614c, closed at acc:
August, 4519Q46c, closed at 4515c; Sep
TENDER, 500 45s4c, closed at 45l1645slc.
Oats dull, with less demand from shorts for
July delivery and the market broke I1s62c.
closing easy; cash, Sic: July, 31G33c CLOSED
al Bic; August, 251sG26c; September 247S6
25c, closed at 25c. Rye firm; No 3, 5SISc.
Flax seed steady; No. l, 81 % Mess norlr
quiet but steady; cash, SIC. 2OGIO BOZ.
August, $l0.15GD10.221@, closed at SIO.l5a
l0I719; September, SI0.22156ll0. 32J%. closed
ri $l0.2219; October, $40. 3215GE10. 421S, closed
at Sl0.35. Boxed meats steady; dry salted
shoulders, S4.25O4. so; short rib Sides SIS. 20
05.12H; short clear sides, S6.O506. 10.
Whisky firm at Sl15. Sugar unchanged. ON
the produce exchange butter and eggs ruled
quiet and unchanged. Receipts-Flour,
$4,000 bbls; wheat SO, 900 bu; corn 243 600 bu.
oats, II7,000 bu; rye, 1000 blu; barley. 1000
I,, =