St. Paul daily globe., 1885-04-28
w L LII - ~ AAS IA4V - O444AAVhS
Operators Make Up Their Minds that
Afghan Troubles will Not Lead
to War.
Chicago Markets Much Unsettled To-day.
Closing Lower in the Face Of
War News.
Crop Reports Exercising More Inf1u-
ence than War News--The Bulls
Getting Frightened.
Gossip on Wall Street.-The Market
Slow and Uninteresting and Closes
Weak and Lower.
Chicago

their differences by commission of neutral
powers The feeling that with such peace
full indications there would be very little
need for Americas surplus grain, caused
considerable weakness, even on the curb,
before the opening, which was well under
stood, Notwithstanding the big bluffs made
by several of the parties who are long on
the stuff here. When the market opened
the first sales recorded were about cent
below the close on Saturday for wheat
Corn stubbornly refused to weaken, how
ever, and it was soon noised around that
Lester and his friends were taking all of this
grain that was being offered for sale. This
not only strengthened the corn market, but
also frmed up oats, and much of the
strength which followed in wheat was due
to purchases made by good parties in corn.
In wheat the advance soon aggregated the
difference between the closing price on
Saturday and the opening price this morn
Ing. There are always
PLENTY OF BUYERS
when markets begin to advance, and to-day
was no exception to that rule. Some good
buying was soon inaugurated that closed
the market for that cereal at about the
highest price of the day, and other grains
correspondingly as strong.
only a few points below the close on Satur-
day. The packers, who were eager buyers
last week, seem to have resolved
to let the stuff severely alone for
the present. The business done
in the provision pit during the entire day
might be designated as of scalping order;
40 perceptible buying for investment. The
absence of old-time dealers like Hutch, !"
Sam Daily and McGeoch, makes the busi-
ness in that portion of the house act slug
gish and dull. There is more talk in re-
gard to proceedings pertaining to the in
auguratiOn of the new building than inter
est in buying and selling grain and proviS-
ions. There was some show of strength,
possibly On account of lower freightS, as
it was reported that the Chicago & ATTAIN
tic cut of 21Ic to sc had been met by the
Pennsylvania lines, and that the Pan
Hadle was contracting both grain and pro-
visions at a shading of sc on each.
ON THE AFTERNOON BOARD
there was weaker feeling prevailing, al
although the decline from the close at p.
IN. was not of any considerable magnitude.
Crop reports that have almost been over
shadowed by the European situation for
some time past will no doubt come to the
front again as an important factor in deter
mining values.
The little company of big men-Plank-
inton, Armour and McGeogh-which went
from Chicago to San Francisco recently,
across the wheat country, is said to be
bearish in wheat The members of the
company declare they saw so much wheat
that they believe it will never in the world
be eaten up.
The premium on May corn has disap-
peared, and with it the talk of corner.
The small stock of cash, the rather active
demand and the prospect of still smaller
stock at the opening of navigation help to
keep corn up.
Wheat opened weak under liberal offer
ings, and when consols began to show an
improvement the market was practically
dead; but decline of &c in consols, later,
was the
SIGNAL FOR A GRAND RUSH
to sell, and our market opened at the bot
tom prices of the day, June wheat selling
at 90Mc, advanced to 90%c, declined to
901%c, and then advanced quickly to 914c,
selling back again and closing at 90%c. The
cause of the sudden rise was the receipt of
a cable quoting the decline in cOnsols and
explaining the sudden advance, which ap-
pears to be the receipt of bogus telegram
sent from Berlin to London. stating that
Russia and England had asked the German
emperor to arbitrate and he had consented.
But this was afterwards contradicted with
the result above noted, showing that the
London stock exchange is just as sensitive
to rumors as the Chicago board of trade.
Other clOsings were SS16c, April; $500,
May; 93, July.
Opinions vary as to the future of the
lot fl,a lao
Hamill and Brine say: ''While war posi-
bilties exist values will remain sensitive to
all that is set ahoat, and we look for fire.
Quent and
WIDE FLUCTUATIONS
in directions probably the exact contrary to
general expectations" The Chandler
Brown company say: 1.-The feeling in all
speculative lines is extremely nervous and
we look for heavy fluctuations. Whether
the course of prices will be up or down de-
pends entirely on the war developments
Milmine Bodman tS Co. assert that "oper-
ators with small margins had better let the
market alone. We think it will take abso-
lutte war to give the market big boom and
hold it there"
There was no material change in the corn
market, the range being in narrow limits.
Trading was only moderate in volume. The
feeling this afternoon was shade easier,
and the last quotations are slightly below
those of the morning. The market was
moderately active, unsettled and lower
early, but later reacted and closed about
the same as Saturday. Liverpool was
steady and New York averaged better. At
the opening the
WEAKNESS IN WHEAT
brought considerable on the market, and the
first sales were &c below last weeks close.
Shorts and scalperS bought freely on the
break, and, when wheat turned, corn fol-
lowed. The offerings were comparatively
light after the break, and prices were easily
advanced. May opened at axe, sold at
474c, advanced to 4Sxc, and after several
light fluctuations closed at 47%c. June
opened at 47%@473c, sold to 4S5Sc, back
20 47$ac and closed at 4Sc. July closed at
4s%c. August sold sparingly at 4Sc, and
September at soc.
Oats were active and stronger, and dur
ing the session prices rose k@Le above
the highest attained on Saturday. The
movement was mainly speculative, but
there was fair local and shipping inquiry.
No. for future delivery sold at S5x@
S5S{o for May, and closed at S5Hc. June
sold at S5Ss@S6c, closing at S54c. July
sold at 5&@S6c, closing at STXc, August
sold atS0S4@S1c.
SAMPLE LOTS WERE ACTIVE
TO the extent of the offerings, and prices
We're higher, car lots on track selling at
SSR@Sa11c for No. 2 white, 36A@Sfs[c
for No. s, STA@SSllc for No. white.
S5@S6c for No. S.
Provisions opened easier, in sympathy
with the weak speculative feeling prevail
ing. There was somewhat more activity
with some recovery from the early decline.
but the range for all kinds of products has
been slightly below that of Saturday. The
tone follows that of other speculative arti-
eleS, but fluctuations are relatively within
more moderate range. The close was quiet