St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-07
Indications, However, Point to a
Continuance of the Bovine
Triumphal March.
Corn, Sympathizing with the Leading
Cereal, Drops Away prifle on
the Principal Options.
Wall Street Beginning TO Manifest Consider
able Life-The Changers the Leaders
in the Rise.
CHICAGO.
Special Telegram 10 the Globe

ton stated 10 be due in these dispatches
came promptly to-day, and that,
too, in the face Of stronger cables. The
decline IS not significant however, that
prices viii seek a permanently lower level,
but is merely an evidence Of the well known
fact that prices had advanced too rapidly for
stability. The break is but an incident to
the advance, and, while it may extend few
cents lower, the prospect is that it viii be
followed by sharp rally. The decline to-
day in wheat was 5Lc in the February
option, which closed at I955c and 21lc in
May, which rlosed Al S55Ec Corn partici-
pated in the decline Of wheat as it did in its
advance, and February closed Ic lower AZ
500 c with May J.. D.; lower at 3925c, Oats
closed l4c lower al Pc for January, and = c
lower FOR May at 295sc. Provisions were
parativeiy steady, pork showing a decline
Of lOc for February, which closed $l1.673{,
lard Heclinc Of 1'tc ior the same option,
With 4 close at $G-s2 :, and ribs the same
falling of, February closing $5.57l..
in the wheat pit the situation was about
the reverse OF that Of Yesterday. The open
ING was about sc iower for January and
February, the latter being at SO55c, and &c
lower for MAY Il STlzc- Gables were stroD Q
and higher, but New York vas easier, and
efforts ~ the part OF the longs to realize were
iuterlcred with 10y parties who believed that
the advance had bren too rapid and were
willing 10 sell freely on any appearance Of a
reaction The combined offerings Of hold
ers and short sellers were, therefore, LIBERAL
and resulted in q sharply declining market
The feeling, however, vas very nerF-
Gus and the advent Of new
buyer in the pit vas the signal for an uptnrn
which lasted until q fresh seller came. After
tho nTsi decline of lc there was quite 4 recoy-
cry on short buying commenced by those who
had sold out at higher prices earlier, and
aided by outside buying orders. The upward
movement was soon stopped, however, by
fresh realizing sales, an Ia. news Of a fail
ar in New York caused The selling 10 be
kept up even at the decline Of &C Though
below SEE for Nav there was good buying u
cover short sales made early in the day In
the afternoon there was a further reduction
"a prices, bringing February 10 close OF
1850 and May b - =.
Il think break is to be expected said
Jim Ball Back 10 Soc anyuay There
has been an advance Of Of l3c low without
any brvak al all and there always arr little
reactions The market was over bought last
night 10 showed ii this morning. There
WAS no snap to the trading"
The Adams were large sellers early
chiefly through Mitchell Charley Schuariz
sold freely aud Armour is believed 10 have
been a large seller Lindhlom and Roche we're
the most prominent bulls ". r. Linn and
Gregory were sellers on the afternoon board e.
New YORK has been probably the largest
miner on this l2r advance although ST.
Louis and all The winter wheat traders have
been right after Gu.hnm- Ncw York was
bgying souc this forenoon. bat John Dupce
said; 'Tar traders gho nave made money
on this bun movement are now on the other
side for q turn The buyrrs now were the
fellows who Ucre selling al 1oe-''
Liverpool reported good demand and
Mark Lsuc bad an upwad tendency, with
CaH'ouia or coast shilling per quarter
higher. Red winter was e p,ucc better, and
American spring shifting better. Califor-
MIA ON passage was also 1 shilling per quar-
ter higher while American spring Tor prompt
shipment was l2tlS pence higher. These
are good substantial advances, and undoubt-
eddy indicate that reported igh, stocks abroad
have a foundation In fact 20, visible sup
uly showed an increase of 2T2, $50 bushels
during the past week. although the New York
estimate made ogr decrease of 1928 bush
els. The receipts Tor two days were 3l5 cars
sgaiust l35 Yesterday.
Their, was a little more than the usual
amount ot in,crcs; exhibited In the corn
trade. The so-cal.c scotch crowd'' is con.
fidcrlby talked ABOUT in the pit. The crowd
is NOT a cry hc ou,--ius, about the size of
Alexander Teddrs aud Eu1rr; Warren rolled
into ou,--auJ will probably not do very
large amount OF damage. lt, as well as
good many provision men, sold the May op-
tion To-day, though several persons were
heard to remark That it was loading up with
thr stuN The market opened weak,
With thc Nav option C. lower at 3qa. e.
Later there was "a r,rioG OF something his,
strength and NAV option advanced 20 4Os. &,
bul tcli oH again. and WAS weak on the a ter.
noon board. c,us.uE so tae opening figure
February opened q @ lower at SOS. C. and the
highest point reached was 2.r, while clos,
WIS a; The lowest Of tby day, 26i. e. being
below yesterday. The sellers seemed Q,
make use ~ prospective heavy receipts as an
excuse f,r their attitude Ia the ujt, and th,
increase oi 500 600 bushels 70 the visible sup
ply Afforded ta,m sonc support. Livcrooo
VAS weaker ON corn and rs pence per cruta
lower. The receipts Tor Two days were a.
rars. aciiu,; POS Yesterday, and out of TAI,
number ouIy I59 graded No. or better
Iu.s shows large failing oil in The percent
scc ot contract crades-
The provision m5rkt; vas adversely AZ
fcc.cj ey The heavy receipts oi hogs and Oh,
lower prices prevailing at the stocS Yards
On, the uaTkrt for speculative trading va
fairly active. rorS opened l2isc lower, a
SIT .65 gov February, aud considerable lou.
stuff WAS closed 'Ur between thai aui Stl.55
On the covering of shorts aud scalpers thcu
was I,t.c RAILS % I5t.c from bottom tx
ures, thc greater part oC which vas s-air
lost in sympathy with the hcsyincss % wbra
sui thc expectation ot heavy receipts % DO 4
Tomorrow. tbc closing being at Sli.G1t. o
zoe tclew YESTERDAY There vas li;tle d1in.
ia lard. which opened 5c inwer. and wen
down 3tso furttcr, closing st S. 90 for Stb
ruary. Rits were equally quiet and veal
ard closed Ice lower, a. s. - for January
Grl - So scl February.
Fairbsnk * Co to-day issacd their auDua
circular for 1854 Il contains compact state
meuts. vila tables showing iae s;Aiss of n,
trade ju hog products aud gives some aEuret
concerning soiber produce dealtia on chang