St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-25
A Day of Gloom, Fractured Boom, and
the Bulls are Feeling
Badly;
For the Weather Clerk Got in His Work
and Bears Hammered Prices
Madiy.
And Left 'Em So They're n Notch
Below the Terminal of
Thursday,
And in Wall Street Alone Do Big
Bears Groan, and swear This
Was a Ours Day.
Chicago.

special to the Globe.
CHICAGO. July 23.-This has been a day
of quiet on change, marked by small trad
ing, and such influences as appeared at the
opening of the day were mainly bullish III
character and brought about a slight adj
vance early, but on the late board feellng
0f weakness brought about decline, the
market closing weak and lower. The mar
ket opened trife OF, with weak feeling.
OccasiOned principally by the condition OF
the weather. which is regarded as very UNI
favorable for the grain in store. \ o real
danger is anticipated, but rumor TO that
effect no matter how poorly authenticated,
has the effect of war rumOr OH the other
side. Heavy selling against puts soon
steadied things. however,, so the start was
about an even one. September wheat be-
gan at 901lc, October at 921zc, with Sep
TENDER corn at yesterdays close, and moth
ing doing in provisions. The day, as a
whole, was very active, but transactions
were limited in amount and largely confined
to room traders. Orders were few and
scattering, and there was a general
feeling of depression, the only WON
der being that prices did not
chop off point at least. When everything
else had failed to cause a rally reports of a
hail storm in Dakota were brought into or
der, and had bracng effect. This was
discontinued when it was discovered that
the area of the catastrophe was only one
half mile wide by three and quarter long.
and the exact location was thought to be IN
the center of Devils Lake. Following this
came articles from st. Louis to the effect
that wheat in Central and Southeastern Ill
inoiS was
THRESHING OUT BADLY.
This was supplemented by an estimate of
PillSbury, the great Minneapolis miller, that
the spring wheat crop would be at least
10000 bushels short. The hardening
effect was instantly apparent and September
touched 81 sc, exactly &c over the open
ing, but the close at l o'clock was &c
lower at 90Ec. On the afternoon board,
as there was no new bull news and but lit
tie trading done, the market gradually
dropped down point at a
time until the close, when the
lowest point of the day was reached, latest
transactions being made at size July,
SS14c August, 901lc September, gage De-
tOber, about &c under yesterdays closing
figures. The great cause Of depression at
present is the large stocks on hand and the
protracted dizziness in the foreign demand.
The time of waiting for the existing glut to
work off is tedious and traders get tired Of
holding and grow bcariSh in feeling. The
later feeling was much stronger than tine
early one.
There was unusual activity in the corn
pit, and it having been discovered that quite
line of shorts could be squeezed with sat
iSfactOry results the LesterN0 rtOn-W Orth-
mgtOn combination gave a slight turn to the
screw Just to let the boys know they were
still in the ring, reports to the contrary not
WithStanding. The pressure was gentle,
though, and no one was seriously injured.
The corn crowd seemed to derive some i'll
spiration from the apparent success of tie
squeeze in July oats, and some of the better
posted ones predicted that July corn would
also experience
A TIGHT SQUEEZE
before the month was over. The crowd
above mentioned are believed to be the
holders of the most Of the July corn and the
deal will probably be engineered by them.
August corn opened at 4536c, 5sc under
yesterdays closing, but before the close of
the session it advanced to 4G14c and then
gradually fell back to acc, where it closed
at l O'Clock. In sympathy with wheat there
was further decline on the late board,
August closing unchanged ut 453Sc, Sep
TENDER sc lower at 45#Sc, October &c
lower at 443Ic.July was sc higher at 1850.
Oats were active and frisly for this
months delivery, and shorts filled in pretty
lively. July sold up to SIC. but by tie
close had fallen to 323lc. August sold at
264@2615c. and closed at 264c. Several
car loads OF new oats were received and
disposed of on track. Kammerer
bid SIC for 10000 bushels
July this morning, when the
straight market was 331Ic, but he didn't
want the oats. nor did he expect TO get
them. 1t is thought by some shrewd oper-
ators that the clique are in position to
make tight corner in July oats, and they
say the manipulatorS of the deal may be
glad to sell to the shorts at SO. The close
was quiet, slightly ig Ter than yesterday.
The provision market was dull and prices
about DC lower. Cables quiet and I'M
changed. Our market has ruled dull
and easier all day. The shipping
demand shows some evidence of letting up.
and receipts of hogs continue larger than
expected, so that packers again became
anxious sellers and prices gave way 15c
on pork. 10c on lard and 121Ic on meats.
closing at the inside prices. Closing prices
for August and September We're: Pork,
0.05@10.1219; lard, $6.55@6.6 215; short
ribs, $5.5505. 6215.