St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-20
A STAGGERING MARKET.
An Exceedingly Dull Day on Change,
With Values Slightly Reduced
on Grain.
Corn the Only Element of Strength,
and May Option Closing
Fraction Higher.
holders of Provisions Getting Nervous, With
Prices Lower and Weaker Feel
ing All Around.
But Little Trading in Stocks-Gould Out OF
the Market and Small Traders
Hsppy.
Chicago.
Special to the Globe

Special TO the Globe
CHICAGO, Feb. l9.-The decline in grain and
prov isions started yesterday was continued
to-day. &C companied by noticeable lack OF
speculative trading. The closing prices were
In most cases at the lowest point touched
during the day, showing fall of &c on
wheat, sc on pork, 71<c On lard and 10c on
ribs. The bears were highly elated and
were loud in their predictions of lower prices.
MANY of the bulls are seemingly tired OF
bolstering prices without accomplishing any,
thing, and are coppering their judgment.
The recent strength in corn has brought TO it
many friends, and wheat does not
cut the figure it did week ago,
as the scslDers prefer TO operate in something
that shows more variation than wheat has OF
late. But crop scare or warlike dispatch
would bring it to the front again. Kent still
talks bullsh and predicts 95c for May wheat.
On the other hand Ream is bearish, and says
the bulls will get enough before spring. A
remarkable scarcity of outside orders and
disinclination on the part of local
traders to go into the market very heavily so
long as it shows no particular reasons for
moving one way OF the other, were the prin-
cipal causes of day
RARELY ExCELLED FOR DULLNEss.
The volume Of business in grain
and provisions was mparatively fair,
but there was an absence Of new features
Of pronounced character, and the feeling
throughout the entire session was tame.
Wheat was the most active article handled on
the list, and opened weak in response to
lower prices IN the British markets. The sit
uation was also weakened by larger receipts
and prospects of better weather. The open
ing sales were at yesterdays inside closing
figures, the official quotations standing 7S4c
February, 1890 March and 835c May. There
was some lively selling by timid holders
early, ana little selling done by bro kers
who, without orders from customers, tried to
make commissions by scalping, causing
break of Xcin the May option. Consequently
during the early part Of the day the market
presented heavy, tired look, although the
selling pressure was not sufficiently strong
TO cause severe depreciation, the moderate
offerings by the shorts being attributed to
omparatvely low prices, and fear that
bull clique were watching their opportunities
TO CATCH THE BEARS SHORT
for the purpose of squeezing them on the
upturn. About noon English consols were
lower, and fearing the reduced quotations
indicated increased political complications.
the shorts, who had sold early, bought freely
for the purpose Of protecting their trades,
and their bidding caused all advance Of &c.
May selling up to SIC Toward the
close prices again fell of, closing dull at
7S55c February, 7SAc March and S3$Ic MAY.
April was quoted at 7S%@79e, but there
was little, If any. trading iu this mouth. The
lov prices and uufavorable weather, with a
certainty of increasing unessiness regarding
the fate Of the fall-sown wae4t. encourages
the bulls to hope for better prices in the near
future, but there is an absence Of sufficient
speculative buying by strong parties who
are willing 10 take grain OF the market, 10
stimulate and sustain a large adva nee
Frank Crittendcn OF Orr, Crittenden &
Comes, bought several hundred thousand
bushels of wheat this morning.
The theory is that Kent is long, AMI as Kent
Is also slayer 1t had the effect Of
FOSTERING DULL MARKET.
The fact that English cereals were lower
helped along the war talk some. VINO owns
the S, 900, 900 bushels OF wheat which Geo.
9. Walker IL Co are supposed to be holdiugi
. Il. B. CIallln,'' said Que pretty good author
ty to-day. Goa, yes" continued this
speaker, "Claflin is produce Spectator.
Don't believe itl Well, would YOU b.
surprised TO know that the great dry goods
joDDer operates here on so large
ba tot mi,
ming wheat deal through a
prominent commission house. C.aain
and d aeon Waite are botn members OF
Beecler's cbaIch and bid against each other
Tor pews 4 few weeks ago. Cianian was in-
terestsd in the Lackawln ma pool. tell you he
has been in the market more than once, and
on huge scale too, aud tell you that 1t Is
said that CiAfiin is one of the owners oil the
wheat in Geo. c. Walker & Co.'S. house
Corn early was some lower aud weaker in
sympathy with wheat, though tue decline
was not at all rapid OF great. In fact it
could not be under the general outlook.
Liverpool, however, was easier aud 4 penny
per GENITAL lower. The receipts to-''ay were
seycnty-seven cars, against twelve yesterday,
but only fifteen of them graded No. ,.
New York early was n little lower on corn,
but 81. Louis was &C higher The feeling
in the latter market is much stronger on
corn than 1t is here or at the sesboard. II
anyone can tell what size the receipts will be
between now aud next May he can tell just
what TO 10 with the market, for all uucer-
tainty lies in that direction. Some are look
lug for very light receipts and others for an
abundant supply, hence one side sells With
confidence aud the other party buys with
equal assurance. Tue opening prices were
unchanged Tor February aud Marcia, but Sc
of at 81 : c for May. Later, as all influences
were bailisa, prices improved sc aud there
Was
SoME LIVELY TRADING
4lSc, the highest point Of the day. To-
ward the close the feeling was easier and
May was quoted quiet but steady at 4li4c at
the closing hour. Oats probably never
showed less feature than to-day. there being
no auctuation in any future with less than
10000 bushels traded in altogether. Prices
closed unchanged at 25i.c February, s5Nc
March, 2TSlc April aud SO24c May.
rHE PROVISION MARKgr
showed weaker feeling, opening 2I95c
under yesterdays latest figures, but as there
wss but little apparent pressure to sell the
early decline was almost entirely recovered.
May pork opened at S,s2jS very tame, sold
Of to siSl2As, advancing gradually until al
the close OF the morning session sales were
recorded al SlSs2is@lS.25. Ga the sitter
noon board the feeling vas agsiu weaker
sud the market closed hieless at SlS Febra-
AIRY, siS.oS March, and SIS20 NAV. The
fear that few large and stronr onerstors