St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-05-23

IN MARTS OF TRADE.
Wheat and Corn Hanging Quite Heavily
on the Hands of Tired-out
Shorts.
The Carrying Charges on the Stock at
Present Aggregating About
100000.
Everything Flat and Featureless To-
day, With But Little Bush
ness Doing.
Traders in New York City not Know
ing Whether to Buy or
Sell Shares.
Chicago.
Cpao;ol m the Globe


CHICAGO, Nav 22.-There have been any
number of dull days on change within the
month, but to-day was probably the duliest
of the dull. Old houses looked in vain Tor
outside orders, while the younger ones have
about given up expecting and for a chahge'
telegraph wires were not welgned uown
with damaging crop reports. II wheat
dragS along for another four weeks as II mas
for the past four, then certainly the predic-
ton of Norman B. Ream, made only the
other day, will come to pass. Il don't
look" he said, ''for any great decline III the
price of wheat. l certainly do not
look for any great advance. L 90
expect, however, by steadily selling wheat
to make the carrying charges. l. think the
holders will be lust that much out of
pocket" The vehement bears call atten-
ton to the fact that the carrying charges on
the stock how aggregate just about $500. QUO
per month: not an insignificant figure to be
divided. even among so large crowd as
the short sellers of wheat.
Pm a BEAR" said Nat Jones this
morning.
''On everything?"
'sYeS, everything" he answered.
Jones had private cable from Vienna
declaring that any report of hitch in the
Russia English negotiations was false.
Deutch. Fraley's partner, is not as bulllsh
as he was. ''Seventy-One per cent OF the
st. Louis receipts" he said, ARE now
spring wheat, which has all along been high,
relatively to Chicago"
WHEAT,
during the first hour of trading hung within
All &c of 92c for July, and 90c for June.
The pit was in the hands of the ScalperS.
Commission men were without orders and
for that very reason, no matter what their
sentiments were, they had no voice IN max
ing prices There was among the SlrlekerS
little talk of hot wheat. Ernest Smith
talked it. Q Nobody believed it, for news OF
hot wheat comes in but one way, by
posting. Il and there was none posted. I"
But the pit was very, very dull.
The speculative market opened at about
92c for July. and advanced to 924c, but
soon sold off to 81 20, at which price it ruled
steady until the middle of the session, when
it weakened to 81 &c for July, and closed
May seize, June S91sc, July 91Sc. One OF
the strong conservative house here was
noticed as heavy buyer of August wheat,
supposed to be for some strong local clique
who have acquired full and important in
formation regarding the growing crop at
tanned through the Mccormick reaper
agents. and who are buying on the belief
that the crop will show much worse at har-
vest. than any reports yet published make
II. The little war cloud seems to have
passed away, and the mourners are numer-
Dus 1t is foolish to attempt bulling wheat
while freights are so low We cannot pos
sibly have more unanswerable bear argyll
ment than the fact that we have the lowest
rate of freight ever known, and first-class
goOds-nO better in the world. Charters
Oh wheat are offered to-day at 51sc per
bushel through to New York. Still foreign
buyers cannot place our cheap wheat with
the consumers abroad.
WHAT THE TRADERS SAY.
George Eyeringham said to-day: 81 still
think wheat is going somewhat lower, and
although it seems to resist any decline very
stubbornly, L look for break of a few
cents before it will do to buy, and with the
continuance of fine weather and the alb
sence of war ScareS, which we are now
likelv to have for the next two weeks. ow-
ing to the adjournment of parliament, we
may have the decline sooner than ex-
pected. !"
Said Chandler, Brown & Co.: 'We. be-
lieve that although there may be a decline
from present values, we will not be COM
PEELED to wait till harvest before we begin
to discount the damage done to winter
wheat AS for large stocks, we believe
that investors only need encouragement,
that profit can be realized in the near flu
ture and it will be found not a hard matter
to carry Them"
Il do not think it possible for us to carry
our. immense stocks indefinitely. at such
fictitious values" said A NJ BOdman.
land that. sooner Or later, we must give up
and meet the competition of other wheat
growing countries of the world and sell our
wheat at prices they are willing to accept"
CORN WAS STEADY
md presents no new features. Shipping
demand is only moderate, one cargo being
reported at 1c to Buffalo. This low freight
indicates the almost nominal character of
The demand for shipment. In corn there
was even less doing than in wheat May
was quoted at 1910; but that figure was bid
for it. Ed Bangs saidssthat his concern had
news that loadings in Nebraska and Kan
)as, this week, were not above half of those
Of the week before. The receipts now are
small, but if Bangs information is good the
receipts will be still smaller. June stuck
1t about 475sc, and July just a shade under
1t 4T15c. The close for May was &c under
The opening at 4S%c.
Oats show little life, but fair strength in
yeller June, the principal feature traded in.
Fluctuations were within shade under
limits. On the call May sold at $3.50, June
1t 335sc and July at 335sc. The close was
Easier and about 1se lower.
THE PORK CROWD
have about given up business entirely, and
we're it not for personal comfort to be ex-
hacted from some of the fifty arm chairs
scattered around the balcony, the bulk of
traders in the hog-product world would
probably keep to their offices. This morn
ing as much, if not more business was done
9n the provision call than on the main floor
In some options no market could be estab-
lished, for lack of trading. June pork
opened at S11.20, closing at S11.15, 715c
under yesterday. There was light trading
In July at about sc under yesterdays prices,
lhe close being S11.25. Lard was 21%@5c
off, closing at S6.7215 May, 1918 June,
s6.s5 July and So. 72% August. Short ribs
we're 21ac lower and quiet, closing S5.6715
June, S5.75 July and $3.50 August.
At the stock yards the receipts of cattle
were moderate, demand fair and values a
shade stronger on best beef classes Re-
ceipts of hogs heavy, trade rather slow and
values shade lower. The sheep trade dull
and prices unchanged.
The Quotations.
CHICAGO, May 22.-Flour very dull; prices
unchanged. Wheat quiet with very little
outside trading; opened 14clower, fell off nc,
huctuated and closed &c under yester-
day. sales RANGED. Nav SS1LnSQ3/o oIocod