St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-06-17
9reat Difference Between the Visible
Supply Statements of Chicago
and New York.
An Unexpected Decrease in the Chicago
Report Puts All Sellers Nearly
on the Run.
The Markets Generally Experience
Boom, Closing Higher, Steady
and Strong.
The Bulls Apparently Have the Nnp
Hand on the New York Stock
Exchange.
Chicago.
Snecial to the Globe.

Chicago.
Special to the Globe.
CHICAGO, June 16.-Secretary Stone
most unexpectedly figured out decrease In
the visible supply of wheat OF about 400, OoO
bushels, when everybody expected and
everybody was betting that the result would
be a, substantial increase. This was the
controlling influence at the start this morn
ing, and about the only influence. Before
it, receipts, which were pretty liberal,
counted for nothing. July wheat, which
wound up last night at soc, started at o973c,
and the fact that there were 172 cars OF
wheat and SIS of corn and 2S3 OF oats, did
not disturb anybody, since it was uneXpect-
edly learned that there were only some ~, :
S77,O7O bushels of wheat in sight, instead
of 41,270,432 bushels, and everybody
wanted a little and wanted some right away
for fear that it would be all bought up and
that there wouldn't be enough to go round
In the first thirty minutes of trading, July
went to S9&c and Aug. to 91Mc. Corn
went up shade, and provisions. although
there were $4,000 hogs at the yards, started
1215c a barrel higher. The commission
men were happy for few moments. for
quotations were made lively and the outside
lambs were greatly stirred up.
TRADING WAS LIVELY.
July wheat got up to 90c and August to
92c, and for minute it looked as if the
market had received enough impetus from
Secretary Stones figures to get it up over
the top of the little rise at which it had
stood so long, and to get it moving along
swimmingly in a direction to suit the
bulls. But it was not to be. The
orders did not keep up, and by noon
time it was the old, old speculative story.
The business had degenerated into mis-
cradle Scalping conflict, in which one
broker was trying to get a little out of his
neighbor broker, and which he kept only
until some other broker had grabbed it
away from him. Nat Jones and the Linns
did some buying and great deal of bulling.
In the provision crowd there was a little
squirt on ribs and Robert Warren and som e
of the shorts began a lively buying. There
was some indication, too, that certain of
the local porkerS have begun taking in their
short lines The afternoon close was
strong and steady at fair advance over
yesterday
WHEAT.
The rush of the shorts to cover sent prices
up 5sc on the early board, the opening
prices being S91ac July, 91%c August,
93Ic September. After the first rush to
buy the market became easier under realiz-
ing sales and prices declined to S914c for
July. The feeling however, was generally
bullish and prices again went upward on
the receipt of fresh reports of damage to the
crop by rust and insects. Besides, cables
were frmer and New York and ST. Louis
markets were higher, which tended to a
stronger feeling here. The close was SS55c
June, S95sc July, 915Sc August, 935sc Sep
TENDER.
Corn was much frmer and higher on the
large decrease in the visible supply last
week, coupled with moderate receipts and a
continued good demand. The New York
statement made the decrease in corn much
larger than our own estimate, while the en-
tire amount is reduced to little over 400, 900
bushels, according to the New York esti-
mate. This fact scared the shorts and en-
boldened the longs, and the result was an
advance of about &c for July and August,
in addition to a rise of 8@1ac at the out
set, putting both of these figures up to 47c.
Liverpool said that corn was ''dull," but
that made no difference with the buying
here. The New York market was equally
strong with ours, and the faint whisper of
a corn ''deal," heard few days ago, grew
louder and more distinct to-day. If there is
MUCH CORN LEFT
in the country, it appears to be in the
hands of parties that are not very anxious
to sell it until the promise of another crop
becomes more assured. The close was
about &c over yesterday, at 4Sc June, 473Sc
July, 1870 August, 47c September.
Oats were firmer, in company with wheat
and corn, and prices improved &c on the
near and sc on the long futures; but trad
ing in No. was only fair to middling, and
of local, speculative character The re-
ceipts were 240 carloads, against 235 car
loads yesterday. The July future sold at
SO 6@335sc, and closed at the outside
August closed at 2S1sc and September at
2715c. There was good demand for cash
corn for shipment, and shorts were busy
covering in June and July. They profess
to be afraid of squeeze. Smaller receipts
are now looked for, and the stock in store
is said to be controlled by few parties.
Norton and WOrthington are credited with
having control of most of the cash corn.
The provision market opened quiet and
remained so during the morning session. It
was entirely devoid of new features, and
the fluctuations in pork, lard and short ribs
were slight. The early strength was due
to the advance in wheat and a firmer mar
ket for live hogs. The receipts of hogs at
the stock yards are expected to reach %, 600
head tomorrow. July pork opened
S10.3715, advanced to 5000, closed at
S1O.3711, or 71lc higher than yesterday.
Lard was very quiet, as was the short ribs
market, closing 21sc higher than Yesterday.
at $685. July lard and $5.3771 July ribs.