St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-24
ycalpers and Commission Men Dis
gusted Because of the Dizziness
in the Speculative Pits.
The Bulls Advance the Price of May
Wheat on the Strength OF war
Indications.
Other Markets Either Slow and Null or weak
and Lower Under Speculative
Influences.
Sharp Inquiry Concerning the Truthfulness
fSt Paul Reports on the Stock
Exchange.
Chicago.
Special TO the Globe


CHICAGO. March 23.-Wheat opened 40
&c higher than the latest of Saturday under
rush to cover The cause of the advance
was a decline of 81 in English consols and
the fact that affairs between England and
Russia have again become critical, Win
chances in favor of resort 10 war before the
difficulties can be settled. Russian securities
were weak and lower. The above facts
backed by further reports that the winter
wheat crop has been seriously injured, gave
the market a firm tone throughout and adj
vanced the price 1c over the opening, the
latest prices being slightly lower on realizing
sales. The reports on the CONDITION
of the wheat crop in Kansas are very BAD,
although it is as yet not possible
10 really estimate the percentage of injury.
Missouri, Illinois, New York, Tennessee,
Indiana and Ohio also send some growing
crop reports. OF course under these circum-
stances the bulls were the predominant
parties on 'cLange throughout the day. Inc
market was comparatively steady and strong
one, and the influences were all legitimate,
that is to say, continued cold weather ard
IedSOudoIc apprehension "a AOPN''A
troubles. This markets.
REMARKABLY SENSITIVE AT THIS TINE
and responds quickly to any kind OF news,
although no important or permanent
change is expected. Unfavorable re
ports of the condition of the growing
crop still continue to be received, but
they are mainly u repetition of those current
last week, and have not so far excited any
special influence. To-day's strength was
almost wholly attributed to anxiety OF export
sellers, VINO promptly provide for the con-
tracts when the war talk begins TO be pre-
v2lent This afternoon the reported adj
vance in consols caused a rather easier feel
ing and the lirmness OF the closing morn
ing hour was lost. The range Of quotations
for the day was about as follows. March
74lL@75Lc, closing at 747Sc; April 74%@
754c, closing at 75Hc; May 7914@S04,
closing at 79Tc. June wheat closed at S11sc
with but little inquiry during the day. The
opinions Of shrewd, conservative operators
ARE RATHER NoN-CoMMITTAL
at this time, but it may be of interest to pre-
sent few individual expressions:
George Brine says: "When it is consid-
cred that the action of operators here is now
governed by such an apparently unimportant
event as this (prices Of foreign consolsJ, the
difficulty of predicting with any certainty the
immediate future of prices may be appre-
cated."
Said George Everingham: 'Crop reports
grow daily worse; from Maine to California
they all tell the same story, and however
little reliance traders may put in them, the
fact remains that the market goes down very
hard and RECEIVERS in a few hours
the decline of two days; the plain inference
being, paw no attention to croakers but tie to
the long side.n
Hamilton Brown is urging his customers
TO buy on the war news, as the result is
always favorable, while Milmine Il Bodman
are equally confident that purchases at this
time are foolish, anticipating a further break.
CORN WAS STEADY AND FIRM,
there being good shipping and consump-
tive demand, and there were takers of all
cash lots. Prices closed at 14@asc higher
than on Saturday. The market opened
strong at &c over Saturdays closing
partly owing TO light receipts and good
demand, and partly in sympathy with
she advance in wheat, May corn selling at
411{c and advancing to ACC. Later, in
sympathy with the weakness in pork, 1t de-
clincd to the opening price, but quickly re
covered again and closed at nearly the high
est point of the day While at no time could
the market be called active, vet it was rela-
lively strong. Car lots were In better re-
quest, shippers taking hold freely, and the
shipments to-day were in excess of the re-
ccipts. Closing quotations were reported
March 37]5c, April 37%sc, May 415sc and
June 4l&4c.
OATS CONTINUE But LITTLE BETTER
than lifeless, and the range of fluctuations
for the day was very slight. There is lib
crRl export movement, which Is about the
only feature Of the market. The closing
figures were March gle, May 919sc, other OPP
tons not being traded in. The same ele-
ments which
CONTROLLED THE PROVISION MARKET
Saturday ruled to-day. The ''longs" were
anxious to sell out aud at opening unloaded
quantity of stuff on the market Prices
opened at abou: Saturdays closing, but soon
declined under heavy offerings. Mess pork
dropped of about csc, while lard aud ribs,
although lower. were not so freely pressed
for sale. There was partial recovery before
! O'Clock and the feeling ut that time was
steadier. This afternoon there was
slightly better tone ut the opening, but the
close is dull at about prices cur
rent at tue close of the morning
session. Ribs were relatively the weakest,
and closed with very unsettled feeling.
There was absolutely nothing doing in the
pit throughout the day, and beyond the clos
ing quotations there are no comments to
make. The latest prices posted were slI S2]<
May pork, $6.S5 May lard, aud s602}S Nav
short ribs.
SHORTS WERE THE PRINCIPAL BUYERS
throughout the day. At the stock yards the
receipts OF all descriptions were heavy. The
ordinary run Of fat cattle was from I0Gl5c
lower, with good demand at the de-
cline. The hog market was rather slow and
prices lO9lSc lower. Sheep in fair
demand and prices steady.