St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-14
And Allow the Bears to Hammer the
Life Out of the Grain
Market.
Wheat, Corn and Oats Lower and Weak,
While Provisions Are
Lifeless.
Railroad Stocks Also Wavering a Trihs
Because of the More Peaceful
Outlook.
Chicago.
Special to the Globe.

war OUTLOOK were cOnHlcLlDS uuTluS luc carry
part of the day, and fluctuations were con-
trolled chiefly by the quotations for English
consols, which were 3-16 lower at the open
ing, subsequently recovering to yesterdays
closing. The market declined 1c in the af-
ternoon on advices that Gladstone had stated
in the house of commons that arrange
ments had been made stopping all
further movements by English and Russian
troops until peaceful solution of the from
tier question could be reached, and that ar
rangement would not be disturbed by any
collision between the Russian and the
Afghan troops in the meantime, that having
been provided for. This was regarded as
practically settling the difficulties without
war. and consequently the sales both of long
wheat and for short account were very large.
English and continental markets were
quoted strong and higher, and reports from
winter wheat districts by mail were
discouraging; but these points were entirely
overshadowed by the question OF
war or no war. The market
closed in very feverish condition and
continuance of the sharp fluctuations OF the
past few days is expected. The general feel
ing tonight is indicative of further decline,
but low prices and the critical condition of
the winter wheat crop lead many operators
to think higher prices will again prevail.
''What do you think of the outlookl" was
asked of the leading operator on the board,
who was lounging about in the neighborhood
of the wheat pit to-day.
81 will only speak in general terms" he
replied. ''Iu my opinion wheat is too low.
hi; ,,,,;lb h. +ol
MINNEAPoLIs MILLERs
are now buying wheat in st. Louis. I think
the receipts will dry up and the visible sup
ply decrease"
'When you ask me what the outlook isl
said a quiet little man with grey beard, who
was laZily looking at the crowd, 81 can only
say that what anybody's opinion is amounts
to but mere guess The trouble is there are
so many unknown factors entering into the
calculation. You notice that the market is
almost entirely affected at present by war
rumors and the alleged state Of the winter
wheat crop. l will say this, however,
that | think a man is running great
hazard who will 90 short on this market.
1t would be different if wheat was selling
at 81 or $1.25, but it is selling at inside
prices.''
II is said that nearly all big traders are out
of the Market and are simply awaiting de-
velopments before going in again, and there
are rumors flying about that Lester is heavily
long on wheat at S3c or Whereabouts. The
speculative market was very unsettled. May
wheat opened with a snatch sale or two at
$3.50, but the real opening was at about
S215c, and it quickly declined under
offerings of long stuff to size. Then
it reacted, selling to S22lc on
consols being reported down to 96%c; when
it sold off again to size on consols being
reported by some one as up to Csc. But
this was denied when the market firmed
again on the afternoon board The market
became lower, nervous and active, and a
cent was lost on wheat. The closing quota
tions were March 1880, April 1870 May
S0@9c aud June sage. This will serve TO
illustrate how uncertain the market is at
present.
CROP sCAREs ARE IN ORDER
now that the war question Is settled for
time, and there are plenty Of bears
who regard the condition OF winter
wheat as more potent factor
than any amount of foreign trouble.
Corn was relatively Grmer than wheat.
Cables were firm with good demand, but
advance in wheat corn opened strong and
shade higher, May corn selling at 1850 ad-
vancing steadily to 431sc, and declined with
the later weakness in wheat TO 4213c, and
closed at the lowest price. The maket,
however, has ruled paratively steady, and
considering the fact that wheat closed &c
lower and corn only &c lower than last
night shows every symptom of a strong
market, and the cash demand continues
very good. Other futures held up well un-
der strong bear arguments, March closing at
3Shc, April at 2s35c and June at 42}5c.
OATS WERE QUIET
and easier, and about * lower, except for
the May future. April sold at 2S4@2SXc
and closed at 2s1Sc; May sold at 313(@314c
aud closed at 81 Sc. Other months were
not In request, March selling about the same
as April. Provisions were in a dull groove,
the market being devoid of excitement.
There were very few orders and local specu-
lators were not DESTROYS to buy or sell for
the fun of the thing. The closing prices as COM
pared with those of the current twenty-four
hours ago show shrinkage of 5GTJ<c on
mess pork, 2lSc on lard and &c on short
ribs. May pork opened at Sl2.75, ranging
at S12.67}5@l2 So and closed at $I27 20;
March closed ut SASS, April $3.50 and
June S1e.S0. May lard opened ut s7O5,
ranged at $7G7. 05, closing at the lowest quo
Iation; March closed ut $500, April So 92A
and June $TOTk. Short ribs for Nav
ranged at So. 40@6,45, closing at So 40; March
closed at s6.27lS and June $6.47H.
AT THE STOCK YARDS
the receipts were light all around There
was fair demand with little or no vari-
alton In prices as compared with yesterday.
The ordinary run of Shipping cattle are I5ta
25c higher than on Tuesday and Wednesday,
but only tribe higher than on Monday. The
bulk Of hogs were to-day bought BY specula-
tors, they anticipating slight run for to-
morrow. Sheep were in fair demand at the
advance noted yesterday.
A FAILURE.
Board OF trade circles were slightly agitated
to-day over the announcement made on
Change that NJ. II. Cgapser, commission
firm in the Calumet block, had failed.
member of the firm said that II would not
amount to much, aud that the stoppaSe
would be but temporary. He said the firm
were anxious to strAighten out their deals,
and when these were all closed
out everything would be all right Other
dealers said II was impossible, they thought,
for the failure to amount to more than S., 800
or $4,000. Cnpser was long on wheat He
is known as one Of the young and lively
traders in the wheat pit, but the business of
the house was principally local scalping
Que. The firm has been In the business
about four years Late rumors are to the eff
feet that IL will amount to about IS, COO The
firms affected by ii on the regular board are
few, and Il was iunmsted that the lambs on
the outside would suffer most. II was said