St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-23
Chicago.
Special to the Globe.

day. Wheat was somewhat excited at the
opening, lower quotations for cOnsols hay
ing stimulated early demand, but top prices
were maintained, a later slight improve
ment in consols having taken the edge off
war feeling. The first sales were at about
DC above Yesterdays closing figures, but
this advance was nearly all lost during the
first hour Of the session. A reaction in
consols was then announced, portion of
the rally noted above having been lost,
when our market again strengthened with
closing quotations, at 1 O'Clock, not far
from the outside of the day, and about
nc above yesterdays last figures.
The feeling continues to be very
nervous, under the receipt and
circulation of all kinds of rumors, with at
least temporary effect. Quotations for
British and other European government
bonds, however, are regarded as the best
reflection of the actual situation, and the
tone rules strong or weak as these point in
the direction of war or peace. The opin-
ion prevails that the market requires con-
tinued
OUTSIDE STIMULUS
to prevent a decline, and as war and peace
have alternated with fair degree of regu-
larity, there are apprehenSions at the mo-
ment that the customary peace news, now
about due, will soon be announced. This
prevents any heavy buying at the advance,
and the undertone, despite the warlike out
look. is weak. New York and foreign mar
kets quoted higher, but similar state of
doubt as exists here is said to prevail in the
former market, with consequent restriction
of business. This afternoon the opening
was firmer, but offerings fully equaled the
demand and the close was tame at an adj
vance for the day of about 1c.
At the opening June wheat was firted
1%c toward the dollar mark, being quoted
at 92c. A slight decline in consols sent the
price of June &c higher, but as there was
no element of life III the market, and all
heavy traders were out, the price fell off to
9OMc at the close Of the morning session,
though reaction on the afternoon board
carried the option up to 9119c at the close.
AS rule the day was featureless, very few
transactions of more than 10, 0O0-buShel lots
being recorded. Outside support was light
the deals being quick, which recent expert
ence of
THE RURAL TRADER
was not so pleasant as to make him enthusi-
astic as a purchaser. The balance sheet
has been decidedly against him, and until
news gives evidence that Herat is liable to
be taken he will not be an important factor.
His funds just at present. are quite low, and
season of rest and recuperation is neces-
sary. The least sign of peace news would
have demOraliZed the market or points,
and no one appeared willing to take the
chances. The amount Of stuff held over
was not large enough to interfere with the
nights rest of a single operator
and tomorrow they will be bulls or bears
on the slightest vibration of the cable.
Considerable talk was INDUCED in with re-
gard to war rumors circulated within the
past two days, and most of them were
traced to large house that is persistently
on the bull side, both in wheat and corn.
The unreliability of these reports, to use no
stronger term, is very apt to weaken conf
dence in private wire adyices. The
latest figures were S21lc April, S94c
May, 911Gc June, 935Sc July. Corn con-
tinues active and strong. In spite of
rumors to the effect that Lester and his
crowd had closed out their deals, those on
the outside who are watching the con-pit
closely say that there are no signs
of this, and the report was
started Intentionally. So many ''tailers"
had caught on that their room was more to
be desired than their company and to get
rid of them the report was put out. 1t is
said to have had the desired effect. The
May option opened at 479Ic, &c higher
than last nights close. There was heavy
selling at the start and desire on the part
of the local operators to hammer the market
cropped out. After this had been done and
the price knocked down to 47c the Founders
commenced to buy it back. Lester took in
lot of June, Wheeler, Gregory & Co. dis
played fondness for May and L. Evering-
ham Il Co. bought up Il quantity of June
and July. The May option closed ut 47ssc
at l o'clock. During
TIE LATE SESSION
the quotations fell off n few points, closing
474c May. or about l &c higher than yes
terday. June opened at axe, being &c
higher than yesterday, but under free real
izing by prominent long, and the rumor
that large receipts were expected, the mar
ket broke off to AZ &c. 1t recovered later,
however, and sold up to 4S4c, closing
4S1sc, just 1c higher than yesterday. The
expected larger receipts is owing to the
Western railroad war and the present low
rates now offered to shippers. One large
receiver to-day said that he had customer
who had been paying soc per 100 pounds
from his place to Chicago for
over year, and to-day he had
contracted his corn at 10c per 100 pounds.
this makes q difference of over lie per
bushel in freight, and if the large available
stocks are in the country that the bears
would have us believe, this will certainly
draw them out and give us largely increased
receipts. But many of our best informed
receivers say they do not look for much, if
any. increase, and should this prove correct
it will be \
sToNG BULL ARGUMENT
and tend to much higher prices.
Oats ruled a shade higher under the some
what improved demand from short sellers.
Trading was light and the feeling was quiet
after the first hour of the session. On
the afternoon board there was q
figures about Nc above those of yes
terday. closing at S75Sc April. S45sc May,
S5lsc June and July. Provisions opened a
shade higher for all product, but prices were
not sustained. There We're free offerings
Of deferred deliveries, while the demand
was chiefly confined To providing for May
contracts. The volume of trade was smaller
than usual. operators showing no DISPOSE
ton To trade heavily while so much uncer-
tainty attends near futures. June pork
opened at Sl1.9aH, advanced to S11.95,
dropped TO Sl1S5. closing at S11.90. May
closed ut S11.S0. S11.90 June, S12 July. Lard
was very quiet and little trading reported
closing $685. May, ST.0ah June and $40
July. Short ribs were in but slight re-
quest, closing S5.951 May. S6.o5 June and
s6.1aS July. At the stock yards the re-
eeipts of cattle were fair and the general
market only moderately active, with prices
barely steady as compared with yesterday.
Receipts of hogs moderate; demand active
and prices firm. The sheep trade was dull
and prices so to IS cents per 100 lower than
last week.
NOTES