St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-08-05
MAN AND HORSE FEED.
A Quiet Day on Chicago Change, With
Grain Values Substantially the
Same as Monday.
Visible Supply Reports and Crop Rumors
Astonish Some People and Rule
the Market.
All Departments of the Money Mar.
q ket Quiet, With Rates I'm
changed.
A Firm Feeling in Stocks, Every
thing Being Pushed Upward by
the Bulls.
Chicago.
Special to the Globe.

Chicago.
Special to the Globe.
CHICAGO. Aug. About the only fea-
ture of to-day'S markets were the condl-
tions presented by the visible supply state
ment. Where did the wheat come from. and
whereabouts. in the name of the prophet,
has the corn gone? was the query of some
of the dumfounded parties who thought
they had been keeping track of the visible
during the past week. Unless to some
parties among the insiders, the report
of the scattering estimate was III
the nature of bolnbShell. as
the statement shows an increase OF a
half million bushels of wheat and decrease
of nearly three-quarters of million bush
els of corn. AS a matter of course, wheat
opened weak and Is per cent lower, at S915c
for, September, but at the decline lively
buying by local operators and an abundance
of outside orders braced up the market very
perceptibly, Swartz u Dupee and Fleming
gathering each about a quarter OF million.
Il was reported that Jack Cudahy and
Bloom also inclined to the bull side, IL the
decline brought the price where all the
s'put' BUYERS could take hold without lear
OF loss, and as the
WHEAT MARKET
is now controlled by puts and calls more
than by anything else this had considerable
to do with the reaction. Again, cables
were late to-day, but private dispatches re-
ported cargoeS Sd higher in London, and
wet unfavorable weather in England.
Crop reports on this side of the sea con-
tinued to speak of damage 10 the spring
crop from rust, blight and storms, each day
bringing news of new disasters III
new places. Under these circumstances
it was not strange that September
recovered to 9O1Sc before the close of the
early session. The fact is, there seems to
be no one with the requisite nerve TO sell
wheat short. The heaviest buyers to-day
were the big sellers yesterday, and so the
operators go on day after day, whip-sawing
and covering without courage to make de-
cided stand. There is little to encourage
short selling in these days, and the bulls
are only waiting to get some bulge on which
the bears will dare to sport the market
again, in order TO get some action on
their trades. at present everything is
dull as only dog days can be, and business
is carried on i'll a scalping way. On the
late board the bears broke the markets a
point or so by endeayOring to induce
A FREE SELLING
movement based on an advance in st. Paul
stock. which they claimed was due TO a
better outlook for the Minnesota and Da-
kota crops, but the result was only partial
success, the September prices hover
ing close to zoe, closing steady Is
per cent. lower. The latest figures
are 1@4 per cent. higher than yesterday,
at So for August, 80 for September, % 4
for October and 9414 for November. The
local crowd are about evenly divided in
their opinion OF the future course of prices.
The bulls are tilnid, owing to recent re-
verses, and the difficulty they find In th G
attempt to advance values in the face of
the large stocks and the holdings of even
the most sanguine come out when a slight
profit is secured. This want of
confidence on the part of the
bulls is heavy drag on the
market, and enables the large operators.
who are working on the short side for the
carrying charges, TO prevent any decided
advance. Nearly all spectators look for
materially higher prices some time during
this crop year, and they all say that when
the time comes they will take line at
about the bottom. Probably the great ma
jority, as is usually the case will not realize
the situation until after the bottom has
been touched and is left far in the rear.
CORN FIRMER.
Corn was little tirmer and higher under
the influence of quite heavy decrease il
the visible supply, making the total amount
OF corn in sight onlya little more than 49,
600 bushels. The situation is steadily for
some ''deal'' in September or October. but
the remembrance of last year is not pleasant
to many. While the number of shorts out
at present is not large, not a
few believe that there is plenty
of old corn back in the
country yet, but present appearances do not
show il. Should current receipts continue
as light as they have been, nothing can
prevent higher prices for corn in the near
future. Shorts were liberal buyers to-day,
and the opening was Is per cent. higher at
45%c, later gaming Il per cent. more.
October followed slowly, touching 451Ic.
The advance was not all maintained as the
market eased off near the end, closing at
46c for August and September, 4515c for
October, 383sc for the year, $500 for May
MORE LIFE IN OATS.
Oats showed little more lite, and prices
were stronger and higher under the influ-
ence of light receipts. August was strong,
advancing &c, shorts being the principal
buyers. Sales were at 2594 @2614c, closing
at 2Oc. september closed at 20 Is C, Octo-
Der at 25Ac, May at 2S34c.
The provision market was dull and weak.
and opened about 10c off. September pork
opened at 1913, but under good buying by
some packers and leading shorts, advanced
to S9.9215; but when these orders were
filled it declined again to 500, closing at
S9.7719. Lard was dull. and closes tonight
nc lower at $6.40 for September. Short
ribs for the same month close sc lower, at
$3.50.