St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-31
STORMS BOOST PRICES.
A Quiet Day on Change, with Firmer
Feeling, Caused by Weather
Uncertainties.
AVariegated Batch:Of Crop Reports, Which
the Reader May or May
Not Believe.
The Monetary Situation Generally
Quiet, with Rates About
Unchanged.
The Stock Market Strong, and Van
derbilt Willing to Placate the
Dear Public.
Chicago.
Snecial to the Globe.

Chicago.
Special to the Globe.
CHICAGO, July 30.-On the early curb
there was much uncertainty but no QUOTA
lions, the tenor of the talk, however, being
in favor of small advance. The regular
opening justified these predictions, which
were based principally on the very uncer-
tain weather probabilities in the great
wheat regions. The market was more or
less unsettled, but in the main fraction
higher than twenty-four hours ago. The
influencing causes were mainly crop re-
ports, which, as usual, were of conflicting
nature. Those received up to the opening
of the board were of little importance,
owing to their local nature and the fact
that no two were alike. Their effects were
not shown on the market at the opening, as
September wheat remained at S9Ac, pre-
cisely where it left off last night Directly
after the opening there was considerable
trading on country orders. and September
wheat advanced to soc. Later there was
considerable selling against privileges, and
September dropped off to S94 @S914c. A
telegram was received from Baltimore say
ing that one export house had just bought
200, 600 bushels of wheat, presumably for
export, and there was
CONSIDERABLE BUYING
on the strength Of it. Roach was reported
to have unloaded large lot of September
wheat at about the bottom figure. Randall
had a telegram from Owatonna, Mimi, say
ing the wheat crop in that country had
been damaged 2 per cent. in the last three
days by blight and rust. The sender had
been big bear. but he cOuntermanded
his order TO sell. 1t seems pretty
well settled fact that Minnesota
and Dakota will not get over half crop.
While some men insist they have had no
storms in the Northwest sufficient to DAM
age wheat, others show last nights ''red'
messages from the st. Paul country, re-
ceived here after IL o'clock this forenoon,
and make the point that if telegraph wires
are Frustrated wheat certainly has suffered.
King & Co. of Toledo wire that of 500 re-
ports from $50 counties in Ohio. Indiana.
Illinois, Kansas and Missouri, over one-half
report threshings beyond recant eXpecta-
tons, one-quarter report less than was fig
ured on and one-quarter report very little
threshed. One-half report the yield from
ten to twenty bushels per acre, one-half re-
port less than ten bushels, but some over
twenty bushels; One-third report
THE QUALITX BETTER
than year ago, one-third report it as well
and one-third say it is worse. A third re-
port farmers disposed to sell, third say
only those who are compelled to will sell,
the balance say they will hold or have none
to sell. On the other hand reports appar-
emily as well intentioned and equally as
reliable, were read from the infected
districts" and the ravages of the storm were
represented to be entirely mythical, except
Huh a GG.I1
down for few minutes. About noon the
general manager of the st. Paul tele-
graphed Mr.. Armour, as the result of a care
full review of all reports received during
the forenoon from every important station
on their lines, that the showing was excel
lent and the damage only in isolated places.
The bullish feeling remained uppemost and
there was very strong outside support.
The feeling is general that the damage is
more widespread than reported, and until
the news is less conflicting this idea will
prevail. On the late board the markets
SHOWED MORE FIRMNESs
and prices went up about &c, closing at
S7$4c for August, 9O19c for September and
90 3sc for October. The balance of power
among traders is now quite evenly divided,
and hence the market frequently travels
over the same ground. The issue is singly
and simply crop reports about the condition
of spring wheat. If the fact of damage is
thoroughly established, it will have a good
deal of influence on the future.
Corn opened little firm and higher for
August this morning on light receipts. but
soon lost the keenness of its edge and de-
clined a triile. Liverpool had downward
tendency, though quotations were m-
changed. The reports on corn are simply
glowing, and with no accident, a great
yield is certain. New York early was
weaker and about &c lower in corn, i'll
fluenced, no doubt, by good reports, and
also by the failure of the July corner
August corn opened here at 453sc, point
lower than yesterday, but advanced
to 4512c, the highest of the day at that
figure. The close was steady at
SLIGHT ADVANCE
at 4512c for July and August No. 2, 451Sc
for September, 442c for October. SOC for
year and 40c for May. Oats were more
plentifully offered and the prices dropped
OFF teadily to the extent of &c in this
months delivery. There was supposed to
be corner. The opening was quiet at lie
decline from yesterdays prices, but an If
regular advance of &c followed, after
which offerings became very free. july
sold all the way down to 2Sc, making 1t
only 214c over August. 1.-The squeeze
may safely be called over, with no cash
sold at 2Sc. There was no change on the
late board, the market closing steady at
Csc for July, 25]9c for August, PAX for
September and October
Provisions showed very little feature. but
in sympathy with other markets ranged
quite steadily downwards 21I@5c un-
der yesterdays close. A very light DAVIS
business was done. The closing for Aug
ust and September was: Pork, S1O.O7150
1913; lard, $6.52H@6.621I; ribs, S5.65@
5.75.