St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-21
QUIET, THANK YOU.
Both Markets and Spectators Eistless
and Inactive, and but Little
Business.
Free Realizing Sales and Strong Markets
Abroad Send Prices Down
Sharply.
Money Plentiful at the Banks and
Rates About Unchanged from
Last Week.
Vanderbilt Announces Himself Bull
and Creates n Firm Feeling
in Stocks.
Chicago.
Snecial To the Glob

CHICAGO. July 20.-The heat on change
to-day was altogether too great for any dis
play of fine work by either bear or bull, and
naturally the market was left to take care
of itself About all the interest on the
floor centered in wheat. Owing to an en-
tire absence of fresh war news and the COM
plete petering out of all the lying dispatches
and rumors of last week. wheat opened Il
(G sc lower, but the bull party, which now
embraces a good share of the old bears, at
once came to the rescue bid the market up
Kos and then held it up by main force
through most of the session. Nearly all
the heavy operators bought wheat Saturday
and went home long on the market, eN-
pecting to have no trouble in putting 1t
higher TO-DAY. But the weakness in stocks.
the hot. forcing weather. the absence OF
war and the pressure of encouraging crop
reports from all quarters We're too much Tor
any increased strength, and so the most
that could be done was to club together Dy
a mutual instinct of Self-preServatlon, ana
hold the market steady until something new
should turn up to let the whole party out
The main argument put forth to-day III
favor of higher prices was the danger OF
blight to spring wheat by the excessive
heat The grain is now i'll its
MOST CRITICAL
stage of development and the weather is
far too warm for its absolute safety. Liver
pool was reported to be hardening and car
goes were firm. New York and st. Louis
also advanced some, after slightly lower
opening. The most favorable outlook for
our wheat is now seen in the change of
tone in English markets, and If this i'm
proved feeling continues it will have ten
dency to strengthen the purpose of holders
here. 1.-The visible" tomorrow is expected
to show a considerable increase. The OPEN
ing for September wheat was 9234c,
4c under Saturdays close, but prompt
purchasing by some of the large specula-
tors of the long crowd brought quick re-
coyerv and slip up to 9315c, with October
at 95llc. Until within thirty minutes of
the early close September options were at
fraction above 93c, good deal being bought
at 1IM1%c. AT the end the market eaSed
off. principally under the pressure Of room
traders who wanted to realize. The October
option was favOrite with a large number
of the bic guns, notably Lester ~ Co.,
Schwartz & Dupee. Orr, Crittenden x
Comes. and Baker. the bulk of the sales
being above 95c, closing at l o'clock al "a &c.
During the ntermiSsion between the boards
a rumOr of
HOT WHEAT
was sprung on the street, and althOug nobody
knows where it was or who started it, yet
it was sufficient to cause further break of
5Ic, September selling at 92l5c but re-
covered slightly, closing at gage, or sc be-
low the opening price. the whole list being
weak and heavy, closing about %@5sc
under Saturday at soc July. soc August.
9214c September 9435c October, S1.04%
May. RumOrs of damage by storm in Ne
braska, Minnesota and Dakota are plenti-
full tonight, and curb trading was slightly
higher than the regular close.
Of corn there is little to be said. Daily
receiptS are growing larger and prices are
slowly declining. August and September
opened this morning 35@15c lower and de-
clined as much more under the promise of
larger arrivals tomorrow. Liverpool was
quiet on corn and I'd per GENITAL lower
This weather is known to be simply glOri-
Gus for the crop. and if it keeps up a few
weeks longer we shall have another big
harvest and lower prices, whatever may be
done with wheat The market closed at l
o'clock at the opening prices. but on the
late board there was decline, in sympathy
with wheat and because the receipts were
larger than anticipated. The general close
W II
4j35c August, 45B September, 4415c
August.
OATS WERE QUIET
and easier. particularly for thenear futures
owing to the arrival Of a car load of new
crop, which graded No. and sold at 81 &c.
July opened at 81 re and fell to Sic. Au-
gust sold at 26 Is 026 4c and closed at 26 sc;
September closed 253sc: May sold at 2S34c
In the provision pit the operators seemed
to lack even the slight energy that they
have shown for the past few days. and the
transactions were very light. The large re-
reiptS of hogs at the stock yards (25 coo
head, are something unusual for this time of
the year, and under the influence of. the re-
ceiptS the market opened very weak and a
fraction lower for the August futures, but
aboutSaturday' closing figures for the longer
deliveries. Between the heavy receipts and
the depressing effect of the hot weather the
bulls had a very hard time of it and the
market steadily declined until the close of
the morning session, when all options
closed at sc below the opening. This has
been the dulleSt day the provision pit has
seen for over week. There was little
change during the afternoon. pork closing
Toe lower at SO. 2915 for August and SlO.35
for September. Lard re lower, at S6.6215
for August and S6.7O for September. Short
ribs, sc off, at S5.79 for August and $5.771z
for September.
The Quotations.
CHICAGO. July 20.-Flour quiet and prices
are unchanged. Wheat was somewhat unset
tied and nervous, and frequent fluctuations
in prices were noticeable. AdVices from
European markets showed Il comparatively
steady feeling in that quarter. and the Eastern
markets were stronger in a general way.
The market opened rather easy with rather
free offerings ON local account, and prices
ruled 14G3sc lower. A stronger feeling was,
however, developed and prices rallied again
5000 on reports of damage TO growing
crops. This had some effect on local opera
tons and encouraged rather free buying to
provide for outstanding contracts. New
York was stronger and higher early, but after
wards eased Of. St. Louis was also higher,
with bad crop news from that quarter; re-
ports state poor quality. The exports from the
seaboard were moderate. About noon the mar
Ret became easier on rumors OF anticipated i'll
crease in the visible supply, and prices de-
clined &c. The market during the last half
of the session was weak with more or less
realizing, and finally closed alb out sc lower
than closing Saturday. Sales ranged. Cash,
S91z@S9$4c; July, S91l@90c, closed at S914c;
August, 90$s@9119c, closed at 9015@905Ec:
September. 925s09315c, closed at 9254c. Sell
ers No. spring, S933c; No. , red, 95396c:
No. red, soc. Corn market quiet, and
prices closed &c lower than Saturday No >.
acc: cash, 4534@461sc, closed at 45$sc bid;
July, 455S@457sc closed at 4515c bid; Au-
Gust, 451sGs55sc, closed ut 451Ic bid.
Oats-Market opened firm, but subsequently,
declined 1E@hc, and closed quiet. No. .3Ii<
@31%6; cash, 3I3s@3l34c, closed at 3Ia5c:
July, 2615@2G3sc, closed at 26ISc; Au-
gust, 2514@2515c, closed ut 25aSc. rive.
moderate demand, and market very steady:
No. ,, 5S1ac. Flax seed, firm; No. 1. 81 26l%.
Pork quiet and lower; cash. $1,000 10 35:
august, $40 30QlO.371I, closed at SO 300
lO.371l; September, slO-35@I0.45, closed at