St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-10
UNDER THE WEATHER.
The Grain Markets, Suffering from
Lack of Attention, Display Inac
tiyity and Close Lower.
1 Dragging Speculative Market with
Trading Mostly confined to
the Scaipers.
Attraction to oiecula ors, Scoring an
Advance of % Cents.
Wheat Lower. Corn and Oats Quiet and
Steady--stock Market Feverish
and Unsettled.
Chicago.
Special TO the Globe.

Chicago.
Special TO the Globe.
CHICAGO, FEB. 9.-The leading articles on
'change were irreguarly lower to-day, al
though steady at a sight decline The wheat
market was indastriously hammered, though
no large quantities Of stuff were sold, Closing
sc lower for February ami May. Corn
opened steady at u advance over Saturdays
close, closing with the advance lost. The
general tenor of the market was about the
same, as the wheat fluctuations were slight
anC no particular features were brought out
Oats attracted but little attention, ruling
steady within fluctuations of Il and closing
unchanged at PC Cor February and 3O1Ic for
May. Provisions were improved under a
better market at the stock Yards and the
probability of light receipts for the next few
days. Values were not sustained, however,
the market sagging off all around about sc
below the close, mainly for lack of support.
THE Snow STORM
Interrupted communication with other points
and business on Change was light and trade
largely confined to local dealers. Wheat, al
though showing more animation than other
grains was destitute Of any features of inter
est The volume of transactions were light
and fluctuations confined to a narrow range.
February opened unchanged at 7735c and
May > c oil, at 835zc. Liverpool and London
advices, although not positively bad for sell
ers, were not such as to encourage buying
for an advance. \ like condition was
ported at the seaboard. The snow storm
went far to allsy previous fears Tor the safety
OF the
WINTER WHEAT,
and although prices were Did up A@4c at
the opening, on the supposition that the crop
statistics prepared by q Milwaukee profess
siouai would cause a strong bull movement.
Those who were expected to take the bait
and buy freely were shy. Many of them
having painful recollection Of operating on
reports from the same source two years ago.
Hence, when the first flush Of buying was
over there was III absence of support, and
although selling was not urgent, prices re-
ceded Mc. The decline brought an improved
demand to cover the shorts, and
PREVENTED A FURTHER BREAK,
closing sales being at 1sc over the lowest
figures. The feeling, however, was tame.
1t was estimated that the visible supply state
ment to be published tomorrow will show an
increase Of 800 600 to 700, 600 bushels, and
the market closedwith an absence Of features
OF an encouraging character.
1t is said that Nat Jones sold puts on over
500, 900 bushels Of wheat Saturday afternoon.
His action in hammcrng the market all
through the morning session to-day would in
dicate that he did, aud that he wanted the
wheat. Whether he beared the market suf-
fciently to have his privileges put to him
nobody on the outside knows. Walker
bought little, while Carr, Jones. Linn, Can
tner and others were either
POUNDING THE MARKET
or selling wheat pretty much all day. What
strenth there was in the market came largely
from New York, that point being reported
generally strong on grains, and the stocks in
store showing a decreases. The situation
about the wheat pit has not changed one whit
In the last seven days. Trad
ers are rs much muddled as
ever, and buyers talked brave last Wednes-
day, but sellers were wonderfully braced up
on Friday. The fluctuations for the week
exhibited the iudecision. When May rap
idly advanced TO SOC the crowd believed for
the moment that they were on the eve of q
panic OF ''shors" sellers. But on the very
next d,y notwithstanding, there was pro-
Pie ~ OF
VERY COLD WEATHER,
and news of 4 sensational sort from Soudan,
from fearing panic of the shorts The
crowd began looking for a panic of holders
Buyers did not hold their purchases
and "shorl" sellers did not
dare 10 stand at their trades.
at was miserable week." declared
clever scalpcr 10 the writer 81 bought and
lost money. sold aud had to cover at
4 loss. new r knew a harder market to
follow" The purely speculative influences
still appear to be all in favor OF an advance,
and the purely
NATURAL INFLUENCES
are all In favor of decline. This was the
case last Monday, aud this ia what makes
traders fearful OF aliguing themselves
either on one side or the other of wheat
For instance, it is pretty certain now that
Mr.. Armour proposes 20 get either some
pork or some money out OF the shorts,
who have been selling that product so freely
OF late At slI006l2 90. The marking up
Of prices in the provision pit will help the
bulls in The wheat pit The country is stll
out OF wheat, and that is an element OF
strength, as much as the holding OF the big
lines by the country is an element Of weak
ness. Bears are ready 10 make raids when
they know that their own short sales aud II
heavy enough they are certain 10 bring out
the whcato
THE EXHAUSTED coUSTRrMES.
The bear is not SO reckless when he knows
that wheat sold must be all short wheat and
must be all sold by himself. The coru deal
was quiet aud uuat,ractive. The feeling
was quiet in sympathy with wheat, but some
firm feeling was infused by The saow storm
raging over the northwest Baxter sold
heavily OF February and May aud is supposed
O. have paid somewhere around Ale for IT,
considerably above to-dsy's quotations. The
opening WAS &c higher al Sc for February,
aud 40&c Tor Msy, the latter gaining &c,
closul duh at opening dgures, and likewise
the low 81 quotations of the day. TIE 6rst
trydiug in seller the year corn was done to-
day pools selling At 95GSSE His action
brought out a large mum Der o. orders, aud at
the close $50 was bid.
PROVISIONS
str c;cd all the attention to-day just IS
ev ryoody supposed they would Tue market
cary was strong and active at sharp ad-
vance over the closing sales q saturday. the
MAY options opening as follows: Pork
1885, s, l,rI $3.50. ribs S5T5lF ras TN
Proveucut VAS mainly owing 70 TIE hca; ~