St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-05-19
Leading Speculative Articles in a Rut
From Which They Refuse to be
Extricated.
Wheat Unsettled and Lower, Corn
More Active and Higher, Pro-
visions Dull.
Deacon White Still Booming Lacka.
wanna--The Changers Some
what Affected.
Chicago.
Special to the Globe.

between, and each operator seemed to be
awaiting the action of his near nelghbor.
81 never saw anything like it," said
trader in the wheat pit to the GLOBE repre-
. sentative. 'sThere is nothing in shape OF a
speculative sensation in the pits nowadays.
Up to year ago there was not mOntn
passed but that it was possible for a clever
gossip to spin yarn about the speculative
antics of some trader who had esSayed 10
run corner, or burst corner. But tnere
is no such gossip now, and there
is not likely to be. Produce spec
ulation has grown so vastly within
five years that individual traders no matter
how big they are, have not the influence
they had. They know it, and they don't
operate as they once did. So the chronicle
of weeks speculation, from being the
story of the manipulations of the great
traders, has become the humdrum narrative
of the transactions of the big crowds.
now? Bless me, j don't know! No one
does, though
RUMORS ARE PLENTIFUL.
Fairbank is taking more active share
in wheat than he has since he, with Nc
Geoch, ran little April wheat deal in 1882.
Hei is believed to be on the bull side, and to
be Walkers principal i'll recent large pur-
chaSeS by Walkers house. Charley Singer
is back from Europe, where he went, it has
always been believed, because he was greatly
shocked by being squeezed i'll last years
pork corner. Singer is more rotrnd than
when he started, but he is no more discreet.
If he was he wouldn't come on the floor.
The making OF money on the floor is very
different matter from what it was when
In h hut -i,1-h oil
hears? For instance, there was vast deal
of talk last week about 2, 600. 000-bushel
shipment of wheat from Duluth. It has
not shown up so in weekly shipments from
that CITY. Alas, these are days of bogus
cables and roorbacks of all sorts"
To-day's was typical Monday market,
depressed, feyerish and irregular. There
We're warm weather and a great lot of bear
talk and some better crop reports, and not
few other influences to depreSS the price.
1t it had not been for
STRENGTH IN CORN,
the 81 cent point, the goal of certain big
traders. would certainly have been touched
by the July option. On Saturday night
Lester & Co. sold a great lot of puts on July
wheat at 912sc. Whether the finn sold
puts for privilege merely, or because it
NeiilCG tllC NllCttt 10 1lOt SIOdIi Ouu llhC-
lihood is that it sold privileges for Fair
bank. rather hoping to get wheat cheap.
But this forenoon wheat went down a great
deal faster than Lester thought it would
when the puts were sold. st. Louis was
very weak, and there was some manipula-
ton here. Even Testers house pounded
the market, apparently afraid that if they
didn't they could not get action on
privileges. Roache did the same thing,
and as result June pumped to soc,
and July went down to 81 &c Then came
the corn call and wheat advanced again. 1t
is said that the drop at St. Louis was occa-
stoned by some ShreWd maneuvering by
Chicago Sh0ftS,s Jones among the number.
A lot of spring wheat was bought up in
Iowa and shipped to st. Louis. There were
100 ears of this grade in there this morning
and the price broke cents bushel. This,
of course,
l. AFFECTED THE PRICE HERE,
for of late the fact is that the St. Louis and
other Winter wheat markets have been
ahead of this. The opening was quiet at
about Saturdays closing figures, but during
the first hour of the session dropped nearly
lie under very free selling. The feeling
was quite weak early under the
further decline in foreign mark
cts and reported warm rains throughout
the west, which tended to improve crop
prospects. The demand was, however, fair
at the decline, local operators being dis
posed just now to hurry Oh weak spots,
which, with some outside orders. caused a
rally of fully half the decline. The close,
at 1 O'Clock, was firm at about &c below
the opening figures. The volume of trade
was comparatively light, dealers just now
being generally unable to decide which of
the two factors, prospective deficiency or
present large supplies, will prove the con-
trolling one in the immediate future. New
Y ork fiuctuated in sympathy with our mar
ket, but no export inquiry is reported from
there to-day. This afternoon the feeling
was steady and closing
QUOTATIONS ARE UNCHANGED
from those of the early session, quotably at
soc May, 90c june 92c July, 94c August.
This is decline from Saturday of &c in
July and August. The close was steady
and firm. Corn was quiet early and the
market dragged without special interest
during the first half of the session. Towards
the close there was more doing and an adj
vance of &c was established. Light re-
ceipts seem to exercise the most influence
just now, and for May and delivery there
has been an active demand from short sell
ers. July corn opened at 471sc, but in
sympathy with the early weakness in
wheat, sold down to 1910, where
strong buying set in, and consid-
cradle pressure being put On May and June,
caused sharpe advance along the Who'll
line, carrying it way up to 1870 and June
and July to 4Sc. From this there was a
little reaction, the market closing quiet but
81 Fl, T,,1x NlO 49,
corn is entirely due to the position, as stocks
reported tomorrow will show only about
200, 900 bushels in store here and decrease
of $50, 900 in
THE VISIBLE SUPPLY,
with light receipts and good demand so
higher prices presumably are in order.
There was lively time on the corn call.
Bangs wanted 10000 bushels of Nav at
471zc, and bid the same figure for several
hundred thousand and took all ANYBODY
wanted to offer. The result of the call was
that May corn went from 467sc to 4SAc,
June from 1910 to 4719c. The latest quo
tations were 1870 May, 47Tc June, 472lc
July
Oats were in fair request, in a specula-
tive way, but prices were easier and about
7ssc lower. The receipts were 1873 car loads,
against 121 on Saturday. May sold at "a Il
@341Sc, June at 34S@34119c, and July at
34@34Ac. The closing prices were 3416c
for June, 3477sc for July, 29Ac for August
and 2S75e for September Samples on
track were in good demand, but A@%c
lower. The latest figures were 341Sc May,
345sc June, 34Ac July, 1890 August, 2s16c
September.
PROVISIONS RULED STEADY
but dull and trading was almost exclusively
on local speculative account. The range
Of prices was narrow, and the latest figures
compared with those at adjournment of the
session Saturday, show slight
reduction in values. Mess pork for july
opened at 81. 1215 and fell to 81. TO- rallied