St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-03
A FEATURELESS MARKET.
Under the Influence of Bad Crop Re-
!. ports and War RumOrs Wheat
Declines Slightly.
Other Cereals in Sympathy Show a
Slight Falling Off and Weaker
Feeling Prevails.
liberal Receipts of Hogs and the Absence Of
Corner" Operators Induce De-
cline in Provisions.
A Bull Movement in the Stock Market
Headed Off by Watchful Bears
Dull Day.
Chicago.
Special to the Globe.

chicago
Special to the Globe.
CHICAGO, March 2.-On 'change to-day
May wheat sold at 7S3s979$4c, closing al
1890. May corn sold at 40$l OIL 78c, closing
at Ale. Oats were lower for May, ranging from
8O4@3035c, closing at the lowest figures
Provisions were unsettled, closing at figures
practically unchanged from the lowest prices
Of Saturday. "a featureess market was
the comment of prominent trader as the
opening figures appeared on the blackboard,
showing a slight decline in both wheat and
corn. "And it is a safe prediction that the
variations this week will not be so marked as
last.'' A DAY of rest seemed to have put
virtual stop to outside orders The
country operators, evidently waiting
for advices before deciding, had to
catch on. If it is true that the condition of
the st. Louis market affected the Chicago
market during the latter days of last week,
it was equally true that the fine weather OF
to-day had its effect on the market. During
the morning session the deals in May wheat
were made almost entirely by the local crowd
of scalpers. eff to-day had been such one
as yesterday, stormy and clustering, you
would have seen May wheat go up to Sic"
remarked commission man.
ALMOST ANYTHING
is likely 10 happen during this month, for we
viii have any amount of crop scares. The
whole list was only fairly active. The May
option in wheat opened at 79Yc, PC lower
than the close Of Saturday. Then
it sagged down until 7SMc
was touched, the offerings being
plenty and reported troubles in St. Louis
continuing. There were also gloomy reports
of bad crops in Southern Illinois. The option
did manage to bulge up to 1914 c, but it would
not held there, and finally closed at 1890.
IT is the general opinion that the shorts al
most entirely covered in last week, and are
now engaged in putting out new lines. The
frmness at the close was due to dispatches
from England, which told of the sending of
a large body of troops to the seat of war, and
also rumor that Gladstone had resigned.
There was but little demand for other options,
March opening at 4115c, advanced to 74&lc
and closed at 74c. April stuff was in but light
request, opening at 74$4c, selling up to
74$5c and closing at AYE, 19c under
Saturday there were some outside buying or
ders on the decline, but not sufficient to give
the market any decided strength. The weak
shorts, who got 50 badly scared on Saturday
and paid soc, were selling again to-day with
the view of trying their bad luck again.
There is nothing whatever to bull wheat now,
but within the next fortnight it is probable
that the growing crop of winter wheat will
begin TO show whether there has been any
serious damage from winter killing, and
on THIS MUCH MAY DEPEND.
Here at Chicago it is quite certain that Sid
Kent is arraigned on the bull side Orr,
Crittendeu 81 Comes have been
large buyers of wheat, while all
the rest OF the market have
been sellers, and through this concern Kent
does large sharge of his trading. Those
who saw Kent fight the advance from 761Ic
10 SSIc so stubbornly but SO successfully,
and who now see that the market has come
around as Kent predicted it would, are
watching with special interest the fight he
has now on his hands. He has some mil
lions of money and unlimited credit. He
has vast experience and indomitable pluck,
but Kent can't make a wheat market any
more than a clever general can win a battle,
although his influence is incomparably
greater than one Of the privates who make
up the army which advances or lowers the
price Of produce. The deal In May corn was
practically featureless, although trading was
lively under all circumstances, though as in
wheat the decline was small. The trading
was almost wholly speculative, and MAY, the
only feature in request, at the opening was
&c under Saturdays CLOSE, selling at 40]sc
but later the loss was regained. But a
further decline brought the opening down to
1880, at which figure there was some big
trading. Near the close
THE MARKET FIRMED UP,
closing &c higher at Ale. There was but
light trading in the March option at figures
ranging from 3714c to 371Ec, closing at
37Ec. In April prices ranged from 3755c
To 3J}sc, closing at the lowest figures. Oats
were dull and trihe weaker,
although holding up pretty well,
everything considered. May opened &c
under Saturdays latest quotations ut Bose,
closing sc lower at 30Lc. March and April
were very quiet closing at 261<c and o6sic
respectively. The more liberal receipts of
hogs at the yards induced an easier feeling
shortly after the opening, which was at
slight advance over Saturdays close. The
absence Of Armour from the city and of the
fayOrite from the pit has tended TO convince
the provision crowd that the recent rumors
pointing to corner in hog products are
Will
stock of provisions In store for this time of
the year, and no interruption 70 packing
operations, makes local traders far more
DESTROYS 10 sell than 10 buy While
the local market is probably not heavily
oversold now with any decided long
interest out, the general desire seems to be
for lower prices, and works as an induce
meut for traders 10 bar the market and at the
same time sell as little of stuff as possible.
The May option in pork opened at Sl2 20, sc
higher than the close Saturday. 1t sold down
10 $ls.55i4, up to Sl2.55, aud closed at
Sls,61h.
OTHER OPTIONS WERE Dull,
aud Of light request, closing practically uu-
changed at Sl2.45 March, and SI2.57tS
April There was fair business reported in
the lard market, but prices ruled irregular
aud tended lower. At the opening prices
were steady, but heavy selling sent prices
on the down grade. May stuff
opened at S5,oelI, advanced to
sos, reacted to s6.eTX, closing
at thst price. April closed sc lower at $685.
and May suffered an equal relapse, closing at
Sassy. Short ribs attracted some specu-
lative attention, but orders were small and
prices unsettled at lower prices. MAY opened
At S6.S1S, advanced sSc, reacted to
l6.Ssti, closing dull at s6.S5. March aud