St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-18
Eyinoe a Fierce Disposition to Claw and
Cuff Everything in Sight
in Market.
lack Of War News and the Heavy Offerings
Cripple the Bull Boom Most
Effectively.
The Markets Close Unsettled and
Lower, Though Some F1rmness
is Shown in Cereals.
The New York Bull Clique Spit IN
Sections--A Brand New Deal
in St. Paul.
Chicago.

ton and deprecated WdIS dlIu Iuiioio
thereof, but they failed to act up to their
pacific walks and talks this morning. They
attacked the market with tooth and claw,
and endeayored to squeeze the life out OF 1t
in the first five minutes. The advance IN
consols and Liverpool and Mark Lane adj
vices that incoming wheat cargOeS had sold
lower and that everything was dull and
slow furnished all the nerve liniment neces-
sary. and the pressure brought May wheat
to S5c, slough of 275c from last night s
finish. with June following at drop Oh
2s[c, from which point it rallied signify.
The crowd about the corn pit was nearly
as large as in the center OF the
room, and the interest was fully as great as
among wheat spectators. The cereal was
Jumped on by everyone at first, but dld not
yield readily being supported by relays Oh
Testers and Cudahy's brokers, who quickly
drove it up to within a fraction OF yester-
days close, and expressed a deterinlnau0n
not to lower Pork was inactive at a shgnt
decline, while lard advanced sngntiy. III
comparison with June and July, the May
wheat option was comparatively neglected,
and it is thought operators III the former
have generally sought cover. The strength
of consols and the prevailing idea that Eng
land would be ready to
CONCLUDE NEGOTIATIONS
on almost any terms, was discounted quite
early by assertions of industrious workers
of the war racket that May wheat was a
dead sure purchase at any price under soc,
The crop reports were bad, have been bad
for week. and every advice is Of con-
firmatory character. Injuries as to the win
ter crop of a very positive character arrived
from Indiana and Ohio, and old heads are
predicting that, without any chances OF
foreign trouble, the clean stuff is fair in
vestmenU at the present top figures. The
bull party is not at all complimentary when
speaking of its English namesake, and was
quite vigorous in its denunciation of Johns
White-livered policy, but it was quite evil
dent that no formal declaration of war
would be Illuminated from the board for
several DAYS at least. The only real
believers that there would be Scrim-
mage, after all, were the English
houses, and their representatives
continued as yesterday to be heavy buyers
on every decline. The granger who haunted
the floor and the corridors yesterday was
conspicuous by his absence. He had been
shaken out and was hoofng it home. 81
never saw so many rural spectators about
the building as have been here for the
past two days." said well-poSted commits
sion man, ''but where is he now? Foot
sore and weary he is wading through the
mud. You see the average countryman Is
bull by nature. He never gets enough,
and if wheat should be- 50 to-day he
would swear by all that was holy that it
was only half enough. Henever fairly gets
on until prices run up sc day, and about
the third day he gets wild, grabs
the old woman's stocking and his buckskin
bag of savings and pushes right up here.
Then he places his jowl carefully on the
hook lust as the market has been strained
to the uttermost fraction and something
breaks. When he gathers himself up the
stocking and bag are empty, and he wan
ders hOmeward If the cOuntryman would
be satisfied with an advance of 1c per
bushel every two or three hours he would
be very profitable customer, but he wants
it all in one day and only nibbles about
semi-annually. BY the time he gets home
from this trip war is liable to break out
again."
WHEAT.
The market opened almost panicky the
advance in consOls inducing heavy selling
and prices dropped off with rapidity that
was purse-rending TO the bulls. Great
blocks of wheat were thrown on the market
with such evident recklessness that the
bears were encouraged to snap up every
thing and take their chances on an up turn
by war cables. June wheat, now the
favorite option, opened at SIC, one trader
says; another declares S61Ic was the first
figure, while third is equally positive that
the first price was S71+. Under free selling
there was Il further slight decline, but the
demand soon improved and the market
rallied 1c, portion of which was subse-
quently lost. Consols were again quoted
X per cent. higher later in the session,
but the pressure to sell was not renewed,
and the closing prices at 1 o'clock were
steady Mt about &c below the top figure
reached. This afternoon the feeling was
easier at the opening, but strengthened
under good demand for short sellers. The
close was slightly below the top figures
reached, and 1Slc below those ruling yes
terday afternoon at the close of the regular
business. There is much nervousness yet,
respecting the foreign political news to be
received in the near futurne, the rapid alter
nations from peace to war recently expert
enced, making traders conservative until
affairs assume a settled shape. The latest
quotations of the day were sS5Sc for April,
S5%c for May, S7Ac for June and $685. for
July.
Corn was easier early, but under good
speculative demand improved, the close to-
day being about nc higher than that Of
yesterday for May delivery. There have
been some fears of manipulation in this
grain for the delivery named, owing to the
prospective light receipts, and for June
there were sellers ut the close at nearly q
&c below the figures ruling for May. There
Is not much apprehension that these fears
will be realized, but the crowd generally
prefer to sell for the later month TO avoid
such contingency. At the close seller
was quoted at 45ISc for April, 46Ifc for
May, Acc for June and 46jSc for July.
ONE OF THE STRONGEST
articles on the list was oats. The supply
seems to be limited. and 1t was predicted
by heavy trader that the price would soon
run up to S5c. The opening was lower,
but improved later under general covering
of short sales, and ut the close prices were
about Nc under yesterday, at SSc for April.
SAC for May, sake for June and July, and
S0Sc for August.
Provisions opened weak with free sell
ers by holders on stop orders. The market
rallied under the demand from short sell
erS, and the decline was practically recov-
cred. Trading was of increased volume,
and the tone during most of the day
was stronger than was generally
expected. The close was quiet and
slightly below that Of yesterday for all
product. June pork opened cake lower
at St1.65, recovering 20 S11.s5, closing
steady at S1l.So. April and May closed at
Sil.T0, July at S11.oo, about TISc all off
round. Lard and ribs were quiet and
steady, closing at prices unchanged from
yesterday. But little trading was reported
and fluctuations were confined to : nc on
lard and SC on ribs.
AT THE STOCK YARDS
business in general way was only moder-