St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-04
A VERY QUIET DAY.
And Short Session Largely Given Up to
the Usual Fourth of July
Foolishness.
a Horrible Suggestion that Operators
Might Hire Out as Har-
vest Hands.
The Markets Close Slightly Lower,
But Firm, Owing to the Long
Holiday.
stock Market Firm With But Little
Business and that Confined to
the Floor.
Chicago.


well adjourn and fully one-half the men on
the floor hire out as harvest hands if the
market keeps as it is now. They would
have more money and better health at the
end of thirty days. There is nothing in il"
Thus spoke George Brine this morning.
Responded Ben Stautfer: THAT scheme
wouldn't work at all. One-half the men
who are in that big pit at this minute try
ing to bull the market don't know enough
10 carry q sheaf OF wheat to thresher, and
the other half haven't got money enough to
pay for the threshing. They remind me of
q comparison of old Andy Shaw years ago
"a lot of pismireS trying to carry away
sack Of shot" There was little excitement
on change to-day. 1t being a short day
and a great many of the members absent
caused very quiet trading. Few operators
cared TO buy, with the prospect of keeping
deals open until Monday. Another cause
of the light buying was the expectations of
heavy receipts of new wheat i'll st. Louis.
1t was predicted by several members of the
board that those between to-day and Mon
day would reach fully two hundred cars.
INDIFFERENT ABOUT BUSINESS.
Very few people on the board seemed to
care much for business, and the younger
members occupied the time by monkey
ing as they expressed it. Despite the
efforts of the floor committee to keep order,
the roaring of the bulls and bears was al
most drowned toward the close Of the ses-
sion by the discharge of tire-crackerS and
the explosion Of torpedoes. Pandemonium
reigned supreme during the last five min
utes of the session. and it was impossible
10 transact any business. Under the influence
of fine weather and lower cables, more favor
able crop reports, a contemplated advance
in east bound freight rates and great weak
ness in St. Louis. the wheat market opened
14c lower for August and September, and
sold down re more to $50, when it re-
manned dull and heavy through the great
part Of the session. This, however, is
always the season of the year when low
prices are looked for, and no one is greatly
inspired. except those whose margins are
nearly exhausted. Liverpool was steady
and
CARGOES QUIET,
with Cd decline for California off coast.
Stocks in London July l were reported to-
day at $50, OO0@400, 900 quarters of wheat,
80, 000@G0. coo quarters of corn and $50, 900
G07O0, 600 barrels of flour. There was no
market at New York. but st. Louis opened
re lower and declined &c more. The
bears naturally feel jubilant over the sue
cess of their prophecies and efforts, and the
bulls are sorry the market does not go their
way. but the underlying facts Of the wheat
situation remain unchanged and temporary
fluctuations do not obliteratc them. At the
same time, it is not to be overlooked that
the present supply Of wheat is very abund-
ant. however great the scarcity may become
in the future, and whenever and wherever
the supply exceeds the demand the prices
will and must decline by the operation of
!.
experienced. The latter part of the session
was largely given up to celebrating the
Fourth" The close was re under yester-
day, 1T SIC for July, soc TOR August, 81 sc
for September, and 931sc for October.
\ BIT OF TRADING DONE.
After the little traders had evened I'D for
the holiday quite a large amount OF long
stuff was sold by Baker and one or two
others on stop orders, and thereafter the
day was given up to the explosion of Occa-
siOnal tire-crackerS. Unfayorable reports
about Kentucky and Tennessee were Offset
by the statement that the alleged increase
on estimated figures in Kansas was myth,
but in the face Of all the market sagged
steadily. No interest whatever was taken
by its usual supporters, many Of them leav-
ing at u o'clock the final close for the day
being at l. The principal trading was done
i'll August. though the longer heads are
taking chances Oh September. There were
some cash transactions in corn, but as in
everything else they were few and far be-
tween. The course Of the market was one
OF great steadinesS, there being no trade of
sufficient magnitude to materially affect the
market one way OF the other. Bailey was
about the heaviest operator in this cereal.
Liverpool was ''slOw" on corn and IS penny
per GENITAL lower. st. Louis was also &c
lower for August, but our
MARKET REFUSED To BULGE
more than sc either way. Prime reports
the weather as still too cool for corn. and
the average condition of the crop at the
present time he places at 81 per cent
These facts, together with the small amount
IN store and the moderate arrivals, keep the
market steady and firm. The last hours
training was more nominal than real, and
the close rather lower than Yesterday at
4718c for July, August and September. and
41c for October. The market continued
firm in spite of bear influences. much of
the July sales being yet mdelivered, and
there is an actual scarcity of spot corn.
Oats were quiet all through the session and
weakness was the prevailing feature, prices
showing shrnkage of 36@A per cent.
For seller the month, sales were at 31s5c
q e.
August sold down to 2639c, and closed at
that figure. The provision market was
rather active and prices without material
change. Foreign markets quiet and I'M
changed. Our market has
BEEN SO LIFELESS
all day that there is really nothing to be
said about it. Pork is 215c lower. lard
215c higher and ribs unchanged from yester-
day. Pork was unusually weak, with the
tendency still lower and regular and heavy
receipts at the yards being sufficient to cause
depression of itself; it was also suggested
that the present would be an excellent time
to talk Of yellow fever in the South and
cholera everywhere, these being conditions
when the flesh Of the unclean animal is not
in demand. The close was SO. 0501O.1215
for July and August for pork; Sc. 521%@
6.6215 for July and August for lard Short
ribs, July and August, S5.2715@5. 32L.
At the stock yards the receipts were liberal,
with a steady range of values on fat cattle
and a lower range on Texans. The hog
market was rather slow, and prices a shade
lower. Receipts of hogs at the three lead
ing points about 26, 800, of which Chicago
gets about 1900.
The Quotations.
CHICAGO, July 3.-Flour quiet and I'M
changed. Wheat opened &c lower and under
heavy offerings declined sc additional, raj