St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-26
WAITING FOR A WAR.
Bullish Operators Who Have Been Oalcu-
lating on Dollar Wheat Are Not
SO Sanguine.
Var News Not so Plentiful Crop Reports
Better, and Traders Displaying
More Caution.
The Market Closes at a Slight Adj
vance, Based on Decline
in ConsoIs.
A Prominent Stock Trader Predicting
Lower Prices Than Since the
Panic of 1873.
Chicago.
Special to the Globe.

Special to the Globe
CHICAGO, April 25.-The bulls of the
wheat deal are somewhat annoyed to OBJ
serve that the nearer the great Anglo-RuS-
sian war apparently grows the more remote
seem the possibilities of 81 wheat Ac-
cording to the newspaper correspondent this
war is getting very close indeed. Only yes
terday startling picture was thus presented,
which brings a section of the conflict almost
within hearing distance of Washington.
Still, despite the close approach OF the mon
ster, the wheat market is positively weak.
With the English Garnet and the Russian
StyrlaX hanging upon every click of the
ocean cable for the sign that shall justify
them in instantly exchanging broadsideS,
the price Of wheat appears to be on the
downward tack. Last week the June fu-
ture climbed up to % cents. This week it
barely touched 92Ic, and operators are
thinking twice before betting on the likeli-
hood Of seeing the dollar market prefiXed
to the price Of wheat this year. Seriously
considered the situation, with respect to
the effect Of war on prices, remains I'M
changed. 1t is only the SPECTATORS prac-
tee of discounting that effect that is sub
ject to wide fluctuations. After period OF
wide and
according to indications, there comes a
spell Of caution and tendency toward a
more conservative method of specializing,
inasmuch as the indications have for long
tine been such as to furnish the majority OF
operators with exceedingly bullish ideas.
Tie caution and species Of Skepticism
which follow a day or two Of enthusiastic
investment. naturally have the effect Of i'll
tueHcug lower prices. There is no reason
to believe tnat Il declaration of war by Eng
land Monday morning would not produce
AN effect on change quite rs startling as
seemed probable during the war excite
mont Di q week ago.
& few circumstances have developed dur
hg Che week of a nature to make people
who are not positively certain there will be
war rather careful how they go long" ON
wheat Chief among these is the final eX-
plosion Of the theory that the wheat crop
Of 1850 has received serious injury from
bad weather OF any other cause. The
warm April showers occurring Of late have
SETTLED TIE QUESTION.
The rusty, barren looking fields of early
March are green and luxuriant. There are
40 more alarming reports of wheat fields
three-titIIs Winter-klled. Injury of that
character amounting to 0ne-ffth of an aver
aye yield is not easily located. Added to
this feature is the effect of so much war
talk in the agricultural community. The
exceeding low price brought by the last
crop would nave Disguised many of them
with wheat raising, but war business gives
the situation another look entirely. Tradi-
ton makes war near relation to famine,
ami the effect of famine in Egypt, or the
price of corn in that country, is possibly an
...fs Al. =. L.,
the result Of war in Europe. At any rate,
where last December he vowed he would let
his land lie idle, he is now sowing to wheat,
and is hopeful Of an abundant harvest.
Within Il day or two the shippers have
become somewhat excited over indications
Of trouble in the east-bound freight pool,
which may result advantageously to them.
Ii is understood thata
FIFTEEN CENT RATE
was made by the Chicago IL Atlantic road
on -. 900 bushels Of grain, and that it would
not be a very difficult matter for almost
anyone who has considerable amount of
wheat to ship To secure a similar rate from
more than one road. The week has been
one of decentralization to freight rates in
several directions, almost the only exception
being in the case Of the Union Pacific, which
gave notice that the tiye-cent reduction per
100 lbs. on grain made as Il concession to
Nebraska farmers during the dull season,
would be restored May |.
The condition of speculative trade on
change yesterday was a fair Illustration of
what it has been generally throughout the
week. June corn at 47$I at the close was
the strongest article ON the list. June
wheat, at 30 &c, was regarded as anything
but a purchase, and the same future in
pork, nj >ll.17is, was plainly mattractive
from the lonesome look OF the pit. On
Tuesday the
VISIBLE SUPPLY
statement showing Il comparatively large
decrease in wheat, there was short spell of
strength, and activity in that market, which
soon. however, was diSSipated by Il depreSs-
iug dearth of war news Next Tuesday
hHlls and bears, the s,..pers, tailers,
lambs, 80 suckers and all the other num-
erous appendageS of the speculative menag-
arIe. will bid a last farewell to the old hall
wherein 50 many millions have been won
and lost, u few solid fortunes founded and
more than one life blasted. Wednesday
viii be uothing-a vacuum-but on Thurs
day Che magnificent hall in the new build
mg Will reSomd with the noisy life of the
boss board of trade, located in
the finest building OF its kind on
earth. The lcaye-taking of the old build
ing viii occur on Tuesday afternoon, when
the brass band, which has been engaged.
will add 80 the noise which will be made by
bulls and bears. On Tuesday evening, at
THE NEW BUILDING,
viii occur the grand promenade concert.
which will be one of the grandeSt affairs of
the kind ever projected. The wealth and
beauty of wives and daughters of the MEM
beers will be displayed to the greatest adj
vantage ON Wednesday morning the dedi-
C1tory exercises will he held. Speeches will
he made by the president and other promi-
umt persons. 1t is understood that
Thomas W. keeue, the tragedian, will
give u recitation The program as
announced is: Prayer by Rev. DR.. Clinton
Locke; speeches 10y John Il. BenSiey and
President Blake; Grafton by Emery \.
StorrS, and speeches 10y others. Delegations
Will be present from all the boards of trade
i'm the country. as well rs from Liverpool,
England In the evening the banquet will
he given ut the Grand Pacific hete. Though
the price has been placed ut SO plate, the
committee has received applications for u
large number of seats.
TUE DAYS BUSINESS.
The markets on change to-day were much
stronger than they have been for the past
two days. Though there was Il lack of
largo transactions. there was enough activity
40 make il interesting for the ScalperS.
June wheat sold up sc over yesterdays
close. The opening WAS steady at 90&,c for
June, which was steady nj 90%c for
june, '4c over the close. Lower
quotations of couSolS and liberal
supply OF yellow tissue bulletins were Suf-
hcieul 10 add strength to the sensitive mar
ket. Roche and Eldredse took in q goOdly
supply 20 the start, ana letting it 20 on the
top, made handsome scalp. George Bald
win stepped IN toward the close and bought,