St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-15
A SubSidence Of the War Feeling and
the Wheat Crowd Now Talk
ing Crops.
May Wheat Drops Below 80 Cents
and Closes Heavy and Decid-
eddy Weak.
Other Cereals Flu ctuate Within Small
Range and Provisions Close Slightly
Lower.
But Little Interest Shown in Stocks, the
Whole List Closing Dull and
Easy.
Chicago.

hourly received respecting the political situa
ton in Europe. Indications of war or peace
alternated with the customary regularity, ant
the values of all speculative articles moved
up or down in sympathy with the latest bull
letin. Wheat responded most promptly tt
all reported changes in the outlook, while
corn, oats and provisions were comparatiyel,
but little affected. Compared with the
corresponding time last week whea
shows decline OF nc, while corn and oat
show an improvement of 1sc and &c re
spectively. Provisions show no material al
teration, mess pork ruling SC and lard 2119C
higher, with ribs unchanged. The receipts
yesterday OF news, since confirmed, of ar
agreement having been arrived at been Eng
land and Russia tends, for the present a
least, to allay the apprehensions of an imme
date conflict, and the whole advance recently
caused by war prospects has disappeared
Peace, with its white wings, has spread itself
over the wheat pit. On 'change
to-day with the subsistence of war rumors,
on which the market has. been sustain ed
during the week, the boys had to find some
thing else to talk about and they were not
long in finding a subject.
THE CLOUDY, RAINY DAY
suggested theme. In consequence crop
scares were numerous. Rain all over the
Northwest was said to prevail, but where the
fellow that in parted the Information to the
crowd obtained it could not be found out by
anybody. Then there was the trader who
was positive that the weather was going to be
cold next week, and winter wheat would be a
sufferer. Another man was just as certain
that no more cold weather would prevail
and that it was warm rain
that was coming. The market in May wheat
was active but weak. There was large
amount Of trading. Lots of traders I'M
loaded because they did not care to hold the
stuff over Sunday with the present unsettled
condition of affairs. The boys on the board
who are looking for better prices gobbled it
up in short order Roche was reputed to
have sold largely, and Norm Ream, Nat
Jones and Crittenden were mentioned among
those who sold heavily at bottom prices. H H.
Carr IL Co., Lester and Schwartz & Dupee
were heavy traders. When the price went
down to 7955@793Ic it is said one man, who
had heavy stop order al those figures,
jumped into the pit to sell, but in his excite
megt bought instead. This was put down by
a knowing one as the reason for the turn the
market took. A NJ. Wright was of the
opinion that as the war excitement had about
run its course
LOWER PRICES WOULD PREVAIL
next week, but your reporter was told of a
letter received by prominent firm from a
large commission house in Kansas CITY, who
have special facilities for obtaining news
from the Southwestern farming districts The
letter said now that the snow was off the
ground the farmers report that the winter
wheat crop was found to be damaged to
greater extent than any one supposed. The
expected decrease in the crop was placed at
10 per cent. The opening price of the May
option was at S014c, the lowest price 79Ic,
and it closed at the end of the morning SEES
sion at 79Yc. March ranged 744@75Hc;
A pril sold to 7435@7515c, closing at 7414c;
June closed at &c.
George Everingham said to-day: "The
future value of wheat is now largely cues
ion of weather. Most of the big dealers here
are now on top of it, and the little ones gen
srallv follow, so that the market is getting
largely short again and in good shape for
another scare. II the weather is fine prices
nay 20 lower, but should the weather turn
we may expect another turn
lpward.n
"Most Of the sales to-day were for local
lccount," said w. II. Bodman, "and the
market no doubt is still considerably long
md in condition TO be branded still lower,
t not supported by crop scare or war
tnv -.
advance being maintained on this
wheat until the export demand
improves sufficiently to cause some reduction
n our enormous stock. The complete col
apse of the war bubble caught Spectators
generally long, and as rule they will suffer
! loss before they can dispose of their hold
ng. The level-headed, strong operators who
ave followed the late advance with liberal
hort sales and stood by it, are now begin
ling to see good prices in their transac-
ions.n
Corn met with fair, active inquiry on
peculativc account, and prices were easier
nd 4@35c lower, but steadier was the pre-
ailing feature during the major part of the
essiou. No. 2 for May opened at 42I0
23sc and sales were at 42l4@42%c, closing
t 424@423sc. Other futures were in light
equest. closing at 3s3sc seller March, 3s1Sc
april, and 1880 June.
OATS WERE IN GOOD DEMAND.
A decrease is noted in local stocks of
bout 2T,000 bushels since last week. Spec
lative tradug was only moderate, but prices
Tere fully maintained. Tue closing figures
o-day showed slight advance for the
7eck. April oats closed at CSC, Nav at
OjSc.
Provisions ruled com paratively steady, and
ave not participated 10 any noticeable ex-
INT in the recent activity in other suecula-
i've articles. Receipts of hogs have been
beral, showing for the past week %. 44s.
gaipst 65. l62 for the corresponding week
asst year. Export inquiry has been good,
howiug material improvement over last
ear at the same rate. There seems, how
yer, to he a conviction that the tendency
values as the season advances will
. rather to lower than TO
higher range, as without some
hing to infuse speculative con-
deuce and activity, it is difficult to give
good reason for any important advance |
less pork to-day closed at sl2.571S March,
I2.62jz April, s12. 121( May, S12.S2k |
une. Lard showed slight improvement, |
losing at S6.9255 March, 1926 April.
! o2tl May aud $40 June Short ribs !
ere slightly higher, closing q. $685.
Isrch, 1886 April, $685. May and |
5.4TJz June.
AT TIE STOCK YARDS
,ceipts were rather above Saturdays aver
re, aud business was fairly active /
all branches. Prices underwent little or
o change aud the week closes on q
eadier market than for some time. During
lie week there has been a mSterial advance |
c cattle and sheep, but hogs have remained |
steady, fuctusting hardly 10 |
ants in six days. Receipts of cattle for the /
eek were about q, 600. of hogs 79, 200 and
sheep $1,000. A big run Is ANTICIPATED
u next week. estimates placing the number |
hogs at 100, 900
FINANCIAL