St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-10
Stock Traders Rejoicing That the Furry
Was Only for the Moment, No Wrecks
Being Reported.
Considerable Activity in Wheat, Though
the Market Was Feverish and Scalpers
Did the Business.
Strong Indications That the Bottom
Is Rapidly Falling Out of the
Year Corn Deal.
The Death of Vanderbilt Did Not Seri-
ous1y Affect Securities, Though
Early Excitement.
Chicago.
Special to the Globe.

Special to the Globe.
CHICAGO. Dec. 9.-The popular thing to-
day was to bear down pretty heavy on poth
grains and stocks. Spectators began this
kind of work on the superstition that the
stock list was going to break all to pieces
owing to the death of Vanderbilt. The
opening was at a sharp decline, but the
subsequent effort to support the list bore
such fruit that before noon the decline had
been pretty generally recovered. Wheat
was nervous, excited and weak, and prices
sought and found a lower range. A vague
uneasiness pervaded the trading crowd,
and the possible effect of Van
derbilt's death upon general business
formed the principal topic OF dis
usSion. Thoughtful men with large
interests at stake wore sober faces, not
that they thought that there was much
probability of a permanent unSettllng OF
values, but they were not unmlndful OF
what might happen. Events OF smaller
Importance than the death OF Vanderbilt
have occasioned ruinous disturbances. and
although conditions at this time are such as
almost preclude the possibility OF anything
of the kind occurring, the situation pre-
sents Just enough elements OF uncertainty
TO render conservative men more than
usually CAUTIOUS dllu lCSS olopOoOd w Oohh
on a prospective increase in volume of
business and higher prices for speculative
commodities To that extent and in that
manner, the death of the
RAILROAD MAGNATE
and financial pillar of the metropolis affects
the board of trade markets. From an open
ing at SSHc, &c under yesterdays closing
figures. January wheat recorded pretty
for tho nXQDf which
stirred up the whole speculative country,
the opening would doubtless have been
higher, for cables came in quite warlike.
But before our opening at $50 stock quota
tons had begun coming in and showed a
decline of 2X@3 points. This was the
main cause of The down-hill movement
given to wheat. Subsequently its own
weight and an absence of support were the
leading factors of the weakness. Speculative
trading was about equally divided between
January and May From 84Ic the former
fell off quite steadily to S73Sc. the big
houses putting out enough TO supply the de-
mand. On the receipt of war cables there
was a gradual recovery to SS75c, then
down turn to 873lc, a recovery to SSc, an
other break to 875s, and again partial re-
action. Thus the wholVfourse of the mar
ket was irregular and unsettled. An effort
was made to put up wheat this afternoon
on war news, but the market was too heavy
to respond. and the closing was far from
strong at about 1 o'clock figures. at S715c
December. 675sc January, SSasc February,
94c May. On the curb puts on May wheat
sold at $3.50 and calls at 943sc.
I'VE had,'' said Bangs, of Lester & Co.,
''about 100000 bushels of year corn and
sold it out only day or two ago. We bought
it cheap and made money. 1 don't see now
how there can be corner in it. The grading
is improved and the shortage is not large"
YEAR CORN
was opened away up at 4311c by, it is pre-
sumed, by Mccormick, Kenneth & Co.
The price went even a shade higher.
When, however, Skates, broker connected
with Martin & Bennett, tried to sell some
year, the price broke on very little trading
to 4I5Sc. From that incident on until the
close the pit was very quiet The members
thought that they had detected the disguise
in an attempt to sell out but were not very
sure. 1t, however, made holders nervous
and the bulls lost confidence. The news
came along that the weather was stiffening
up and drying up. This it was known
would help the inspection and anything
that helped the inspection would make it
more and more difficult to advance the price,
corn deal is that there is not very active
market, and with January also much of a
descent the deal must be closed out for De-
cember- 1t would not be profitable to keep
on buying year and selling for January at a
discount of &c and sometimes more
If Lester IL Co. had l. 200, 900 bushels of
long corn on their books, and sold out it'll
out anybody knowing it, it shows that Nc
Cormick, Kennett IL Co. can easily have
1000, 600 bushels on their books. OF
course a very large shortage was disposed
Of when Lester unloaded his LOCO, 900
bushels. The close was only steady at 42c
for year, 3S55c for January, 3734c for Feb
ruary and 4014c for May.
Provisions kept within narrow range
and trading was only moderate. The feel
ING was steady and closing prices were al
most duplicates Of those current at l o'clock
yesterday. The tone of the advices from
the stock yards was favorable to the bears.
Mess pork for February oPened at SO, and
sales We're at $685. @10.05, with SO the
closing. January closed at $9.S715 and
May at S10.3715. Lard for February
opened at $500 and ranged from $6.1715G0
go closing at S6.1719. January closed at
S6.1C15 and March at S6.2715. Short ribs
closed at S4.S715 for December, 81. 91115 for
January and So. - @5.05 for February.
PETER BERKEY, Pres. F. w. ANDERSON Cashier
c. w. GRTGGs, V. Pres. a. c. ANDERSON, Asst. c.
THE ST. PAUL NATIONAL BANK,
CAPITAL, S500,000.
Corner Fifth and jackson streets.