St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-08-08
a Belief That Armour is the Atlas That
is Supporting Both Grain and
Provisions.
This Conviction Led the Bears to Make a
Better and Higher Market
For Cereals.
Provisions Also Advanced Fraction
ally, But Trading Was of
Holiday Kind.
A Dull and Irregular Day in wal
Street--General Financial
Matters.
Chicago.
Special to the Globe.


Special to the Globe.
CHICAGO, Aug. 1.-THE articles to-day
were fairly active, though presenting no
new features. Such strength as appeared
in the market came from crop news and
war" cables. both very indefinite. Ihe
close was steady all around. The weather.
so un&avOrabie for harvesting, impaired
tone and there was also Il fair market on
the other side. An impression is quite
prevalent, aided by reports from New DIRK.
that Armour has put his bread shoulders
under and will not, for the time. pay any
particular attention to railroad stocks. IL
was not believed that any marked decline
could take place. and the talk was all bull
ish The only outside order that could be
run down was one from Peoria to buy ZOO
bushels of beans, and grain had to rest on
It's merits. 4 general Discrimination to
carry much over two holidays and the very
distinct recollection that it Tained last Sun
day and is quite liable to do so again.
caused the shorts to cover and Throughout
wheat was very stiff. Comparatively
NOTHING WAS DONE,
however, the better portion Of time being
occupied by the local dealers in swapping
jack-knives and by odd chance taking a
scalp with but very little hirsute appen-
dage. Wheat was a little stronger ami
averaged $s@15c higher than yesterday.
The reports that damp weather in the
wheat districts was interfering with har-
vesting and would result ia some loss of
the crop had the effect of iiTning the
markets up considerably at the opening
September opened at S9Tc, sold up to 80 5
GQ901tc. sagged to 901sc and there re-
manned throughout the greater part Of the
early session. The talk OF the local opera
tors was very bulliSh, but they refused to
show cause for the faith that was III them
by buying, and. to speak iiguratively, their
sweetness was wasted on the desert air.
Cables were a little heavy, while other
markets gave this one no support, New
York. ST. Louis and Cincinnati being all
reported slow and of an ante-adjoumment
character. Reports Of improvement in
foreign markets took away all weakness
here and prices ......
UNDER SOME BUYING
went up above the 'calI' figure, where
upon the most strenuous efforts were put
forth by the call sellers of yesterday to
break the market. In this they succeeded
for time, but the current proved to be a
little too strong to stem. The fresh crop
estimates, printed elsewhere, undoubtedly
influenced some, and the great strength m
corn others. AS a whole the trade turned
in favor of the bulls, although the victory
was not very decisive. The close was
strong at the highest figures of the day,
%@$lc over yesterday, at SEC for August.
9015c for September, 923Ic for October and
945sc for November.
a sharp trader said to the GLOBE repre-
sentative to-day: For the past two weeks
the shorts have been getting shorter, and
the longs longer, and l think the market
is In shape for a sharp turn. and this is but
the beginning. Should the weather be
better, or political news more favorable,
prices may ease off d little Monday, but
think we are on the eve of sharp adj
vance, and propose to keep on the long side
of the market"
was again mounting upward to-day, under
good buying and small arrival. Liverpool
reported corn as ''stiff'' and = penny per
GENITAL higher, which was increased LATER To
a full penny. Even if there is no corner
run in corn there is liable to be sharp turn
up in prices until all the shorts for Sep
TENDER are forced into cover. The demand
for the cash stuff continues unabated and
the daily arrivals continue small. 1t is now
generally conceded that the crop of last
year was Overestimated, but still good
many traders think there must be large
amount of old corn lying back in first
hands. which will asSuredly come forward
if prices are put up higher. The corn stu
alton, as a whole, is becoming increasingly
Interesting, and trading in it, from thi,
time on. is liable to be heavy and rapid
The advance of to-day was well sustained
Latest prices We're 35(04c over yesterday,
at 3sc for August and September, as ~
for October. 431fc for November, 1919
for year, 40c for May.
OATS SOLD
at a higher range than yesterday, but cioset
rather weak ahd tIifle lower than twenty
four hours ago. Trading was very active
and mainly in car lots for August delivery
Sales for August were at 2G]%@26Mc, witt
2635c the closing. September closed a
253s@25Ic. There was but moderate in
quiry for cash and near deliveries, while tn
deferred futures We're very duh and fat.
Pork averaged rather better. The omen
ing was firm. and 5M71Ic higher than thu
closing yesterday. The receipts of live hog
at the stock yards were again large, ant
the market weakened slightly directl
after the opening, but lit was sool
discovered that there was not much slut
for sale, and prices Immediately fiumed IA
again. Although the trading in the pi
for the day was very light, prices are firm
and the tendency upward, within YER
moderate limits. Pork was relativel
1irmer than other articles of hog product
September opened 71lc higher, at $3.50
sold up to $3.50, closing at that figure
Other futures closed at S9.571 = for October
S9.3715 for November. Lard showed a
advance of PIC, closed at 2G.S7l = G6. AZ
for September and October, while rill
gained &c, closing at $5.5213@5.511z fo
September and October.
Thc Quotations.