St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-17
VERY LIVELY DAY.
Bears Ready for a Raid, but They
Encounter and Combat Some
Unexpected Obstacles.
A Sharp Decline in the Entire Speculative
List is Finally Partially Overcome
by Later Gables.
A Wild and Exciting Day Followed
by Extreme Nervousness and I'm
certaintY--ssWar or No War"
Chicago.
Special to the Globe.

CnECdSOs
Special to the Globe.
NEW YORK, April 16.-The bears gath
cred in force and prepared to take posses
sion of the pits, but their contemplated on
slaught was somewhat impeded by de-
cline in consols and unexpected firmness in
the foreign markets. This combination
formed quite formidable barrier, but they
nevertheless managed to pound May wheat
11lc from yesterdays close, the opening be-
ing S75Sc, with first bids on June at 904c,
and a gradual decline to $3.50. Corn
weakened 1c and continued to fall off in &c
fractions until 1880 was touched, and pork
slumped 10000, but quietly recovered half
the loss. Early trading was heavy on
outside orders and the idea pre-
vailed that it was anybody's day, or
a sort of free-for-all, with bears about one
length ahead. Persistent hammering
brought down May option to 86szc, and at
this point a slight rally took place, nearly
all transactions being between S7@SSc,
though this volume was not notably large.
June wheat, the favorite, was depressed to
SOC, with some heavy deals H@14c higher.
Pork held close 10 the opening figure of
S11.75, but was dull and rather heavy.
Shortly after IL o'clock the report was
quietly circulated that Lester was not doing
anything in May corn, the cereal being
left to
TAKE CARE OF ITSELF
for little while, and Ream concluded to
take a tilt at it. He was followed by
Adams crowd, and between them they
loaded up with everything in sight and
wanted more. 1t was forced for while to
45%c, but nearly all was bought between
46047c. A very observable feature of the
day was the influx of large delegations of
rural spectators. They have the fever bad,
but with the feeling Of cautiousnesS some
what abnOrmally developed in the average
granger they concluded TO come in and spy
out the land. They hung around the rims
and fringed the edges of every kind Of men,
both above and below stairs, and doubtless
absorbed large amount Of useful informa-
ton for home consumption. One represen-
tative probably expressed the feeling
Of the visitors when he said he just
took run up to see if all this
war news was manufactured to order in or
about the board of trade. 81 have great
confidence in my broker" he added, land
he is usually conservative and remarkably
exact in figuring on crop reports and grass
hopper statistics, but he is apt to grow very
lurid when there is any talk Of war, and
imagine the whole world is about to
GET BY THE EARS.
1t is q marked popularity of the man,
and can only account for it by the fact
that he was very sanguinary during our lit
tie trouble and took an active part, having
put in substitute (who deserte0 at cost
of 81, 500, and l thought would like to
size him up just at this time"
A circuit of the bucket shops did not re-
crtIf in fha Of ~ oil
sembling boom, and very little business
was being transacted at any of them. The
proprietors deny that any Of them were at
all crippled by the recent jump up, though
considerable money was paid out. AS the
close of the morning session approached
the continual receipt of cables bearing their
burden of peace news proved too heavy for
the market to support, and May wheat fell
to 9516c and June touched 87Hc. Through
out the English house Of representatives
members secuted the glowing peace reports,
believing that both sides are
sparring for time, and backed
their opinion by heavy purchases
at every stump. The / o'clock close was
as follows: May wheat at S5%c; May corn,
45S4c; May pork, Sl1.57; May lard, $500.
This afternoon there was a strong tone
caused by dispatches from New York of
more warlike character. The pacific news
of the morning was greatly modified al
though nothing definite was known. The
intimation that all is not
WORKING SMOOTHLY,
however, was enough to advance
prices &c, and the close was strong. A
very nervous feeling exists, and wide fiuc-
tuatiOns are probable for some time The
close was uncertain and shaky, with bullish
tendencies. The latest figures posted were
$3.50 April, SIC May, $3.50 June, 9156c
July.
Corn fluctuated in sympathy with other
speculative articles, ruling strong or weak,
as the tone in wheat changed during the
session. The business done was entirely
speculative, very liberal realizing sales
causing at times almost panicky feeling.
There is no change to note in the situation
apart from that produced by the altered
ASPECT OF EUROPEAN AFFAIRS,
and there is nothing to particularly affect
values beyond the general speculative tone
which for some time will probably be alto
gether governed by the character of the
foreign news. This afternoon the strength
In wheat caused more firmness, and the
close was at slightly advanced figures.
Closing quotations were 1910 for April,
acc for May, 46Lc for June, Acc for July,
n drop of about &c all around under yes
terday's close.
OATS PARTICIPATED
the general feeling of weakness, dropping
about l. &c under free offerings. This af-
ternoon there was more inquiry owing to
advance In other articles, and the close Is
about &c higher than the extreme inside
figure reached, Quotsbly 331Sc for April,
SAKE for May, and 341Sc for June and
July.
PROVISIONS OPENED WEAK
and sold down rapidly. When the tone in
wheat showed declining tendency, short
sellers bought rather freely of mess pork
and ribs, while the trade in lard was only
moderate. Holders were the chief sellers,
recent buying influenced by the war feeling
having been quite liberal. Mess pork
opened S5@40c lower. June, the
fayorite option, opened at Sl1.9O, but
in q short time was quoted at S11. 80, though
at the finish of the early session it had re
covered to S11.75. June lard opened sc
lower at 81, closing at S6.95. Short ribs
were lower, opening at So and closing at
$685.. This afternoon there was almost q
full recovery from the mornings decline,
the strength in grain stimulating inquiry,
but the close is slightly below the figures
current yesterday afternoon. The latest
bulletin indicated S11.77x@11.s7]< for
May and June pork. S6.e5@7 for May and
June lard, and S5.9a@6 for May and June
short ribs.
AT THE STOCK YARDS
the receipts of cattle were liberal, demand
fair and prices steady. Receipts of hogs
were heavy, about $1,000 more than for
the corresponding time last week. Prices
dropped loo to 15c and now are CSC to soc
lower than on Tuesday. Sheep in fair de-
mand and frmer.