St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-18
NECESSARILY QUIET.
A Tame Opening Results
from Crippled Means Of
Communication.
Spectators in Wheat Spend Most
of their Time Evening
Up Deals.
The Close Half a Cent Lower on all
Options Than the Quotations
Of Friday.
Corn Stronger Than the Leader, Oats
Steady, and Provisions Little
Higher.
Wall Street Weak at the Finish, VIII
Fair Prospects of Further
Depression.
CHICAGO.
Especial Telegram to the Globe. |

very fat and dull. The absence of commu-
nlcation with New York and other principal
points, owing to disabled lines of every COM
pany represented here, had paralyzing
effect on all markets. 1t was not until after
10 O'Clock thet the first message was received.
That came over the wires of the Bankers &,
Merchants company. A little later the West
ern Union had got wire in order, and busi-
ness began to revive somewhat. The stock
tickers were mute until 10:45, when they
started up and furnished quotations until
1915, when they became dumb
again. No freight was moving,
and it being Saturday, traders
didn't put themselves out Of their way much
to give local trade an appearance Of activity
which it consequently lacked. The trading
in wheat was mostly of an evening character.
The close was }9c lower than on yesterday at
sO}sc February, and S61sc May. Corn was
more active than wheat and ruled higher, the
market showing good deal Of strength.
February closed 1Sc higher at 3S1lc and May
Nc higher at 4l16c. Oats were steady at
about yesterdays figures.
Provisions were rather dull, but ruled
steady and showed considerable strength,
pork closing sc higher at Sl2. .52k May; lard
2}4c higher at 81. Is MAY, and ribs sc higher
for the same month at S6.40.
Wheat showed smaller volume of sales
and there were few factors calculated to in
Auence prices in either direction. Liverpool
dispatches quoted quieter British markets,
points, communication being interrupted
by last nights storm, which deranged the
telegraph wires. The market opened weak
and A9sSc lower, advanced PC on fair buy
ing by shorts who were disposed to even up
their weeks trades, rather than take the risk
of carrying them over, but the absence of
rapid communication with other places cut
off orders, and local bulls not being In q
mood to increase their Eoldings, while there
is stil an uneasy feeling in busi-
ness circles, early buyers were
soon filed and prices sagged. The
weakness during the closing hours Of the
session being increased by reports that next
Tuesdays exhibit of the visible supply will
show an increase of 500, 900 bushels, and de-
spite the decreased receipts and the certainty
that next weeks arrivals here and at other
spring wheat points, will exhibit a further
shrinkage in volume, prices gradually set
tied 5sc and closed at the lowest figures of
the session, and the feeling among profess
sional traders bearish. Yet the meager sup
plies on the other side of Atlantic, and the
almost positive certainty that the United
Kingdom and continent must be large buersy
on this side during the coming eight months,
does not favor a decline here. The situation
Gus demand for flour from exporters, which
takes the products of mills making such
grades as fast as turned out.
Hamill IL Brine in their circular say: "We
still feel that no serious improvement In
prices is probable, but on the contrary that
some decline will attend the piling up Of
stocks in western markets unless foreign
values should show continued strength, and
this we think is unlikely, In view Of the iu-
creased supplies attracted by the recent rapid
advance in all markets Of the United King
dom. We feel that purchases on weak spots
may prove remunerative II opportunities to
realize profits are taken advantage Of, but do
not regard tendency Of values TO be at
present towards q higher range. The
recent failures in New York and Plttsburg,
although 1t Is TO be hoped not foreshadowing
any extensive financial disturbance, have
had somewhat depressing influence, and
for the time being at least, will deter invest.
~ I'D v1rf ofa
when the weather contingencies will be an
important speculative element, we may,
should these take an unfavorable turn, see a
much higher range Of values, but without
this or some other important stimulus, now
unforeseen, we believe that o material deple-
ton Of our stocks must precede any advance.
To effect this our prices must be on q par
with those Of the importing countries of
Europe and at present this Is only true Of
seaboard cities, whose stocks Of winter wheat
are quite heavy enough to meet the present
demand"
The corn market displayed a good deal Of
strength to-day, and trading In It was quite
positive and active. Liverpool was strong
on corn and Il penney per GENITAL higher.
Receipts were 263 cars, against 274 yester-
day, and out Of this number 43 graded No.
2. Il begins to be seen aud realized that
before their crop Of corn will begin to come
to market freely prices must be advanced,
and accordingly traders are more willing TO
buy nov, even at higher prices than they
have been hitherto at lover figures. More
than this, both corn and oats begin to have
some independent strength Of their own, as
the visible supply OF both is very small when
compared With the vast volume OF wheat In
sight. To-day February corn opened &c
higher and May ne, and afterwsrd February
advanced &c more and May nc, but both
lost a little near the close Of the session.
The last figures being 3sNc for February and
415zc for May.
Milmine, Bodman & Co. say: "we think
the receipts next week win show much
lighter in consequence Of the snow blockade
We are stlll strong believers ia higher prices
on this corn, believing the legitimate con-
suuptive and export demand viii continue
good for the next sixty days, and the pros
pective moderate receipts at this point with
= market considerably oversold for future de-
livery in the option line"
G. S. Everingham says: 81 regard the
corn situation stronger than wheat, but
should wheat decline corn would sym pathlze
slightly. Il Is reported that tventy-six
steamers have been chartered at Baltimore
the past few days for corn, and that the Wa
bash railroad alone is loading 1000 cars for