St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-08-08
A Belief That Armour is the Atlas That
is Supporting Both Grain and
Provisions.
This Conviction Led the Bears to Make a
Better and Higher Market
For Cereals.
Provisions Also Advanced Fraction
ally, But Trading Was of
Holiday Kind
A Dull and Irregular Day in Wall
STRAIGHTFORWARD Financial
Matters.
Chicago.

In the market came from crop news anu
war cables, both very indefinite. Ihe
close was steady all around. The weather,
so unfavorable for harvesting, impaired
tone and there was also a fair market on
the other side. An impression is quite
prevalent, aided by reports from New DIRK.
that Armour has put his broad shoulders
under and will not, for the time, pay any
particular attention to railroad stocks. 1t
was not believed that any marked decline
could take place, and the talk was ali bull
iSh. The only outside order that could be
run down was one from Peoria to buy l, 600
bushels of beans, and grain had to rest on
its merits. a general Discrimination to
carry much over two holidays and the very
distinct recollection that it rained last Sun
day and is quite liable to do so again,
caused the shorts to cover and throughout
wheat was very stiff. Comparatively
NOTHING WAS DONE,
however, the better portion of time being
occupied by the local dealers in swapping
jack-kniveS and by odd chance taking
scalp with but very little hirsute appen-
dage Wheat was a little stronger and
averaged 3s@1Ic higher than yesterday.
The reports that damp weather in the
wheat districts was interfering with har-
veSting and would result in some loss of
the crop. had the effect of 1irming the
markets up considerably at the opening.
September opened at S9Tc, sold up to 90%
(0901c, sagged to 9015c and there re-
manned throughout the greater part Of the
early session. The talk of the local opera
tors was very bullish, but they refused to
show cause for the faith that was in them
by buying, and, to speak figurativeiy, their
sweetness was wasted on the desert air.
Gables were a little heavy, while other
markets gave this one no support, New
Vn1l- ,,fi hri,, oil
reported slow and of an ante-adjOurnment
character. Reports of improvement in
foreign markets took away all weakness
here and prices ....
UNDER SOME BUYING .-.-----.-
went up above the ''call" figure, where
upon the most strenuous efforts were put
forth by the call sellers of yesterday to
break the market. In this they succeeded
for time, but the current proved to be a
little too strong to stem. The fresh crop
estimates, printed elsewhere, undoubtedly
influenced some, and the great strength IN
corn others. AS whole the trade turned
in favor of the bulls, although the victory
was not very decisive. The close was
strong at the highest figures of the day,
I@D$4c over yesterday, at $50 for August.
9012c for September, 9254c for October and
94I5c for November. -------..
A sharp trader said to the GLOBE repre-
sentative to-day; For the past two weeks
the shorts have been getting shorter and
the longs longer, and l think the market
is in shape for a sharp turn, and this is but
the beginning. Should the weather be
better, or political news more favorable,
prices may ease OFF q little Monday, but l
think we are on the eve of sharp adj
vance, and propose to keep on the long side
of the market"
CORN ..',-'.-
was again mounting upward to-day, under
good buying and small arrival. Liverpool
reported corn as stiff and = penny per
GENITAL higher, which was increased later to
a full penny. Even if there is no corner
run in corn there is liable to be a sharp turn
up in prices until all the shorts for Sep
TENDER are forced into cover. The demand
for the cash stuff continues unabated and
the daily arrivals continue small. 1t is now
generally conceded that the crop of last
year was Overestnnated. but still a good
many traders think there must be large
amount Of old corn lying back in first
hands, which will aSsuredly come forward
if prices are put up higher. The corn stu
alton, as a whole, is becoming increasingly
Interesting, and trading In it, from this
time on, is liable to be heavy and rapid.
The advance of to-day was well sustained.
Latest prices were $50 * over yesterday,
at 47%sc for August and September, 461 &c
for October 4314c for November, 391Ic
for year, 40c for May.
OATS SOLD
at a higher range than yesterday, but closed
rather weak ahd trihe lower than twenty
four hours ago. Trading was very active,
and mainly in ear lots for August delivery.
Sales for August were at 261%@26Mc, with
203sc the closing. September closed at
2535@2515c. There was but moderate in
quiry for cash and near deliveries, while the
deferred futures were very dull and fat.
Pork averaged rather better. The OPEN
ing was firm. and 5@75lc higher than the
closing yesterday. The receipts of live hogs
at the stock yards We're again large. and
the market weakened Slightly directly
after the opening, but lit was soon
discovered that there was not much stuff
for sale, and prices Immediately firmed up
again. Although the trading in the pit
for the day was very light, prices are firm
and the tendency upward, within very
moderate limits. Pork was relatively
firmer than other articles of hog product.
September opened re higher, at $3.50,
sold up to $685., closing at that figure
Other futures closed at 50 = for October
&9.3T1I for November. Lard showed an
advance Of 235c, closed at S6.311 z06. 4215
for September and October, while ribs
gained sc, closing at S5.521l @5.571I for
September and October
The QUcsatiOns.
CHICAGO, Aug. Flour quiet and IN
changed. Wheat opened steady, rallied sc
fiuctuated and closed 1ac higher than yester-
day; sales ranged: August. S13l@SS3lc
closed ut SS3Ac; September, S955@9015c. closed
at 903Ec; October 81 gases &c. closed at 92c5lc:
No. , spring. 8S74@8S2Ec; No. spring. soc;
No. 2 red. 92D9414c; No. red, S.150SSc
Corn ruled firm and stronger, owing to smaller
receipts and good shipping demand. The mar
ket closed 14@1lc higher than yesterday the
near futures showing the greatest strength:
cash. 47&E@471Ic; August, 4.@4715c, closed
at 413%c; September, 465s@471&c,. closed nj
471%c; October. 45340D46$Ec, closed at l6ILc
Oats ruled quiet and Il shade easier: cash.
2612@2Sc; August. 26$s6EZ624, closed at $3.50:
September, 2512@2534c, closed at 25]%c; Oc-
tober, 25150255sc, closed 1T 25i%c. RIVE
steady, No. =. 5S15c. Mess pork ruled steady
prices showing very little change; cash.
S9:4274@9 ~; September l6er,o 50. 45a
tober, SG.50@960, closed at 9.571%Cb9 GO.
Lard ruled steady, prices showing
little change; cash. So. 321a@6.371a
August, So. 521I; September, $6.32156l6 40
closed at S6371%61G. 40; October, S6.40G6. A.
closed at S6425I@6.45. Boxed meats steady;
dry salted shoulders, $4.10@4@0; short rit
Sides S5.50G5.55 short clear sides, So 9CQ
steady; creamery, 15G20c: dairy, II
@15c. Eggs steady at 1015@I1c
Receipts--FIour, 5000 bbls; wheat
1000 bu; corn, l15,0G0 bu; oats. g, 600 bu;
rye, 1900 bu; barley, 1000 bu. Ship
ments-Flour, 5000 bbls; wheat, $4,000 bu
corn, 100000 bu; oats, $4,000 bu. After
noon board-Wheat ruled firm and closed
nrlr and