St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-16
1 Subsistence of the War Feeling and
the Wheat Crowd Now Talk
ing Crops.
May Wheat Drops Below 80 Cents
and Closes Heavy and Decid-
eddy Weak.
Other Cereals Fluctuate Within Small
Range and Provisions Close Slightly
Lower.
But Little Interest Shown in Stocks, tne
Whole List Closing Dull and
Easy.
Chicago.
Snecial to the Globe.


expected fluctuations, being caused BY the
varying tenor of news daily ana almost
hourly received respecting the political situa-
ton in Europe Indications of war or peace
altern ated with the customary regularity anu
the values of all speculative articles moved
up or down in sympathy with the latest Dull
letin. Wheat responded most promptly TO
all reported changes in the outlook, while
corn, oats and provisions were comparatively
but little affected. Compared with the
corresponding time last week wheat
shows decline OF re, while corn and oats
show an improvement OF re and &c re-
spectively Provisions show no material al
teration, mess pork ruling SC and lard 272c
higher, with ribs unchanged. The receipts
yesterday of news, since confirmed, OF an
agreement having been arrived at been Eng
land and Russia tends, for the present at
least, to allay the apprehensions OF an imme-
diate conflict, and the whole advance recently
caused by war prospects has disappeared.
Peace, with its white wings, has spread itself
over the wheat pit. On change
to-day with the subsistence of war rumors,
on which the market has been sustained
during the week, the boys had to find some
thing else to talk about, and they were not
long in finding a subject.
THE CLOUDY, RAINY DAY
suggested a theme. In consequence crop
scares were numerous. Rain all over the
Northwest was said to prevail, but where the
fellow that in. parted the information to the
crowd obtained it could not be found out by
anybody. Then there was the trader who
was positive that the weather was going to be
cold next week, and winter wheat would be a
sufferer. Another man was just as certain
that no more cold weather would prevail
and that it was warm rain
that was coming. The market in May wheat
was active but weak. There was large
amount of trading. Lots Of traders I'M
loaded because they did not care to hold the
stuff over Sunday with the present unsettled
condition of affairs. The boys on the board
who are looking for better prices gobbled it
up in short order Roche was reputed to
have sold largely, and Norm Ream, Nat
Jones and Crittenden were mentioned among
those who sold heavily at bottom prices. H II.
Carr & Co., Lester and Schwartz 81 Dupee
were heavy traders. When the price went
down to 793g@792Ic it is said one man, who
had heavy stop order az those figures,
jumped into the pit to sell, but in his excite
megt bought instead. This was put down by
a knowing one as the reason for the turn the
market took. A NJ. Wright was of the
opinion that as the war excitement had about
run its course
LOWER PRICES WOULD PREVAIL
next week, but your reporter was told Of a
letter received by prominent firm from a
large commission house in Kansas City, who
have special facilities for obtaining news
from the Southwestern farming districts. The
letter said now that the snow was off the
ground the farmers report that the winter
wheat crop was found TO be damaged to a
greater extent than any one supposed. The
expected decrease in the crop was placed at
40 per cent. The opening price Of the May
option was at S0Ac, the lowest price 7914c,
and 1t closed at the end OF the morning SEES
sion at 7955c. March ranged 744@T5Hc;
April sold TO 745z@751Ic, closing at 744c;
June closed at Sl@sc.
George Everingham said to-day: "The
future value Of wheat is now largely a ques-
ton of weather. Most Of the big dealers here
are now on top of It, and the little ones gen
orally follow, so that the market is getting
largely short again and in good shape for
another scare. II the weather is fine prices
may 20 lower, but should the weather turn
unfavorable we may expect another turn
upward"
''NIost of the sales to-day were for local
account" said w. II. Bodman, 'and the
market no doubt is still considerably long
aud In a condition to be branded still lower,
II not supported by crop scare or war
news. | have no faith in any
advance being maintained on this
wheat until the export demand
improves sufficiently TO cause some reduction
in our enormous stock. The complete col
lapse OF the war bubble caught spectators
generally long, and as a rule they will suffer
loss before they can dispose of their hold
Ing. The level-headed, strong operators who
have followed the late advance with literal
short sales aud stood by it, are now begin
ming to see good prices in their trausac-
tions.n
Corn met with fair, active inquiry on
speculative account, and prices were easier
and i{@&c lower, but steadier was the pre-
vaillng feature during the major part Of the
session. No. for May opened at 42li6
424c and sales were at AL 042 sc, closing
at 424(Q42&c. Other futures were in light
request, closing at 3Sssc seller March, 3SJSc
April, aud 429sc June.
OATS WERE IN GOOD DEMAND.
decrease IS noted in local stocks OF
about %, 900 bushels since last week. Spec
ulative trading was only moderate, but prices
were fully maintained. The closing figures
to-day showed a slight advance for the
week. April oats closed at CSC, May at
90Lc.
Provisions ruled comparatively steady, and
have not participated TO any noticeable ex-
tent In the recent activity in other specula-
tive articles. Receipts of hogs have been
liberal, showing for the past week 90, AS,
against Go, l62 for the corresponding week
last year. Export inquiry has been good,
showing material improvement over last
year at the same rate. There seems, how
ever, to he conviction that the tendency
of values as the season advances will
be rather to \ lower than TO
higher range, as without some
thing TO iufuse speculative con-
fdeuce and activity, 1t is difficult to give
a good reason for any important advance
Mess pork today closed at $l2.57iS March,
sl26ah April, Sl2.7els May, s12. S9t
June. Lard showed slight improvement
closing at s6.e9IS March, 1926 April.
$T.o2tS May and $40 June. Short ribs
were slightly higher, closing =. s5.Sa y
March, $685. April, S6.4sJS May aud
$6i1A June.
AT THE STOCK YARDS
receipts were rather above SATURDAYS aver
age, and business was fairly active
In all branches. Prices underwent little or
no change aud the week closes on a
stes6ier market than for some time. During
the week there has been Il material advance
on cattle and sheep but hogs have remsiued
remarkably steady, fGctuating hardly 10
cents in six days. Receipts of cattle for the
week were abous =, 600, Of hogs 40, 600 and
81 sheep 10000. A hig run is Anticipated
for next week. estimates placing the number
Of hogs at 100, coo.
The Quotations
Western Associated Press.
d,