St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-08-11
TRADE MATTERS DULL.
A Decreased Spring Wheat Yield and
Firmness Abroad Continue to Pro-
duce Steadiness,
Though Grain Values Suffer a Slight
Decline Under the Influence Of An
other Cholera Scare.
The Provision List Shows Further
Weakness, Mainly Through SYM
pathy with Cereals.
Speculation Rampant in Wall Street,
the Bulls Making the Most of
the Situation.
Chicago.
Special 10 fhe GlObI

Chicago.
Special to the Globe.
CHICAGO. Aug. 10.-Two days of rest
did not invigorate the markets to any great
extent. Everything on the speculative list
opened lower than Fridays closing. except
ing October lard, which was sc higher, but
not to stay long. The cautious operators
who are on the lookout for an excuse To put
off until tomorrow what they are afraid to
begin to-day. pointed to the calendar and
said they would wait and see what the gov
eminent estimate for August would de-
velop. Tomorrow they would know
better what to do, with the visible
supplv statement and the official guide to
speculation both before them. These two ele
ments Of uncertainty undoubtedly had much
to do with the dizziness of the grain markets
to-day. and the painful lack OF animation
that characterized the early trading. The
same bounteous scarcity of outside orders
which marked the record of business last
week was again plainly displayed to-day,
but the faith in a better time by and by that
fills the breasts of the brokers is unlimited
and never falters for moment. Continued
fair weather caused rather weak feeling,
though foreign advices gave the market as
firm, with wheat in fair demand Reports
from the spring wheat regions continue
somewhat conflicting, but no doubt longer
exists that
THE YIELD
will not be within from 10 TO Is per cent. of
that predicted three weeks ago. While the
acreage in Minnesota and Dakota is some
what larger. and this fact. known to prac-
teal men. has finally dawned on the traders,
that the yield per acre i'll these vast fields is
steadily decreasing, the skimming-Of-th
soil process having been Overdone. ANY
Increase in the acreage is. therefore. more
than offset. Taken throughout, the day was
exceedingly dull. nothing worth mentioning
being done in wheat The depressed start
was recovered. but there was little save
room trading, outside help being entirely
withheld. An estimate of the visible supply
in New York gives an increase of
LOCO, coo bu, while it is thought the amount
will show about One-third as much. The
wheat market opened much weaker and
lower, about g per cent off, at 9014c for
September, the whole range being but q
per cent until near the close Of the early
session. when a cholera scare came in, in
ducing liberal selling and a breaking down
of values to the lowest figures of the early
session. The first effect of cholera news
was drop in New York wheat. This was
followed by the bear raid here by Ream
and others. What added to the weakness
and made the break more easily worked was
the report that the visible supply statement
would show an increase Of from 500, 600 to
575, 600 bu. The
PASSIVE STRENGTH
shown in the earlier trading was supple
mented by positive weakness though at no
time was business vOiuIninous. The high
est point OF the morning was only within
H0D14c of Fridays close, and from that
summit the break was 55c. the close being
SSc for cash. S95sc for September. 925Sc for
October, 941sc for November and S1.03%E
for May. The wheat situation is now
swinging on a pivot, and from this point
will be likely to go in one direction or the
other several cents bushel. 1t all de-
ponds, however, on the final word about
the condition of the spring crop.
Corn failed to boom, and also failed to
decline very much until the expected re-
ceipts for tomorrow were posted (about 500
carS) when great weakness was developed.
Prices declined 4 G01c. Liverpool was
firm on corn, as well as wheat, and
New York opened about &c higher,
but magnificent prospects Of new
crop. coupled with fine weather for matur-
ing. took away much of the hope for
further advance in prices, unless other
markets should go higher, and then, of
are only fair, and can't grow much larger
until the farmers get time to haul the stuff
to market. the present time being very
busy season of the year for all grain grow
erS.
THE DAYS FEATURE.
The feature of the afternoon market and
the feature of the day was a resOlute at
tack on long corn futures by Baldwin and
other room traders. They broke November
lie and carried October down 151c and
September sc from Friday. There was
liveler trading during the last half hour Of
business than at any time during the day.
Oats were pretty active, but the feeling
developed was one of weakness. owing to
large receipts and prospects of liberal ar
rivals. August fell &c and closed at IS re.
September closed at 2475c, old No. 2 oats
in store sold at 2615@2Sc, and new at
253lc.
Provisions showed little more life than
on Friday, but We're still quiet. The re-
ceipts continue heavy, while the shipments
as a rule in hog product are light During
the early part of the morning session there
was a temporary spaSm of weakness. in
duced by the conditions in grains but a
few sizeable purchases soon reacted the
market TO its former firmness.
IN THE AFTERNOON
there was firm feeling, caused by good
local and Southern demand. There was
little stuff for sale, and nearly everybody tried
to buy a small quantity of it. Under the
general call for stuff. prices stiffened con-
siderably. Warren managed to get hold Of
good share of what was offered for sale.
and would have taken more if he could
have got it. The close was quiet, more or
less easiness being contributed from grains.
On the late board the market slipped cog,
and the close was steady and about UNI
changed from Friday. The closing figures
for September and October were: Pork
S95O@9. 80; lard, $6.25@6.4O; ribs, S5.571z
@5.T1z.
The Quotations.
CHICAGO, Aug. 10.-Flour steady and
snsol.4l.- i,,,,,,.n,-nd