St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-02
Heavy Operators Provide for Emergencies
and no Break Caused hv
Deliveries.
Grain Values Suffer but Slight Change,
With All Speculative Articles
Very Dull.
Banks Report Little Activity, With
Plenty of Funds at For
mer Rates.
St. Paul 81 Northwestern Leading
on the New York Stock
Exchange.
Chicago.
Special to the Globe.

Special to the Globe
CHICAGO, July 1.-The feeling in the
wheat market to-day was more bulllsh imam
yesterday, although the causes of the change
were not very conspicuous. Efforts 10
break the market for several days past nave
not been flattering success, and perhaps
the ;;arties who failed in that attempt have
now turned over to the other side and are
trying to put it up. 1t was widely thought
that when August wheat got below 80
cents it would go good deal lower; but
the supposition has not proved to be cor
rect one. On the contrary, every time the
market got below it rallied as though 1t mad
struck a rubber spring-board. There seems
to be plenty of wheat for sale on every adj
vance, and as long as this fact
holds good no marked rise is
possible Nearly everything was taken
care of. and deliveries for the month were
light. none of the large operators taking on
Rnv particular amount OF cash stu1t
Baker 81 Co. received the largest quantity
of wheat. but nothing was done to disturb
values. Following this firm closely were
Lester 81 Co.. constituting the Sam Aller-
ton crowd. who loaded up with about l, 900
300 bushels while Sherman and Eggleston
look on in the neighbOrhood of 100000
bushels each. Norton and WOrthington
Ire the proud
PossEssoRS OF ALL THE CORN
IN sight in this vicinity, which they will
have and hold for scalping purposes, and
N the event OF unfavOrable reports or
heavy frost the deal will be in their own
aands. This is part of the Lester cOmbi-
nation as engineered by Ed Bangs When
t was found to a certainty that
The orphans had been taken in
reasonably firm feeling was exhibited, but
throughout was uneventful and uninterest-
ng. In many respects it was pronounced
he dullest day for years. ''What we hope
sor and cry for and would pray for, if we
knew how, is the appearance of lot of
shippers" said little fellow whose
life was made burdenSome with 100, 600
bushels and warehouse expenses threaten
ing to consume his financial vitals. lat
present they are an unknown and undis-
.overable quantity and we need them in
.he business we're in and want them right
Rway.'' An effort was made to push up
prices on an estimate that the decrease in
spring wheat in Minnesota md Dakota
would be II per cent, or SO, 500, 600, as
compared with the 63, 900, 600 of last year.
THIS WAS OFFSET
70 some extent by heavy selling by st.
Louis parties, under the lead of Nose Fra
lev, but in spite of every effort and the de-
vices of the most active maginationS, the
fluctuations were only fractional. One very
talented operator, who has bin of 5000
bushels of September corn, stalked in bear
ing stalk about ten feet high, having Oh it
four by five ears in milky state, and as
serted that it came from Southern Illinois.
If he expected drop on the statement
he was sadly disappointed, as the only con-
puccinn 1,nfQl whom no hGe1mn
what suddenly acquainted with the sharp
edge OF the corn pit. Then the confession
was made that the specimen had been for
varded from Florida, solely for
political purposes and in order to have an
effect on the street car strike. Throughout
there was little bullish feeling, and the
prospects are that the dull stage will con-
tinue until after The day we celebrate.
WHEAT OPENED STEADY,
at about closing figures of yesterday. and
soon. under good speculative demand, ad-
vanced &c. but this was lost under very
liberal selling, which resulted in the market
touching figures slightly below those of the
opening. Later there was less pressure to
sell, and steadier feeling prevailed, with
shade better prices obtainable during the
last half hour of the session. At
o'clock about sc higher than yester-
days closing figures was obtainable.
New York was quiet, with four or five
loads reported taken for export. Foreign
markets were unchanged. Deliveries on
July contracts were liberal, but as stocks
are almost wholly being carried against
sales for later months at prices as compared
with cash values, which are attractive to
idle capital, the situation has not been
changed in any essential particular. Stocks
in Liverpool and London, according to Of
fcial returns for June so, are reported as
equal to 5, 975, 900 bu, against 3, 737, 900 bu
at the corresponding date last year. This
afternoon there was no alteration i'll values,
although the tone was slightly easier, clos
ing figures being nearly the inside for the
day. and about &c higher than yesterday,
at SSc for July, 901Sc for August, 9214c for
September and 81 sc for October.
CORN.
Corn showed a little more firmness to-
day, but its range of activity continues to
be very narrow. For long time August
corn has vibrated between 46}l and II &c.
but now it seems to have moved forward a
notch and makes 47Ac kind of stopping
place. More interest, however, was shown
to-day in September corn than usual, while
receipts continue to be only fair. The
large quantities of stuff which have so often
been predicted do not seem to get along as
vet. and many begin TO think that they will
not come at all. Hence the increased desire
to own a little of that which is in sight.
Liverpool reported downward tendency
in corn, while the imports into the United
Kingdom were 600 quarters less
last week than the week previous. The
close was about 3sc higher, at 4755sc July.
4714c August and September, 47c October.
The total amount of corn in store here is
about !, ZOO, 600 bushelS-one-half of which
amount is under charter to be loaded at
once, and the balance as soon as freight can
be secured. This, with the present de-
crease, now that June contracts have been
filled, will soon leave empty warehouses,
and higher prices
SEEM INEVITABLE.
Oats opened with a fair degree of
strength, but closed quiet with the early
improvement lost. Some longs unloaded
and shorts filled in. Prices closed about
where they left off yesterday. There was
a sale of No. 2 for May delivery at 29c.
July sold at 3214c, down to 31Xc and
closed at 31Tc. August closed at 271Ec.
The estimated receipts for tomorrow show
an increase on to-day's arrivals. The tone
seems rather weak, and a further
shrinkage in values is predicted.
Provisions were shade firmer, deliveries
on July wheat having fallen into the hands
of carriers, who have sold the same for flu
ture delivery. The tone has been steady.
under fair speculative demand, but there
have been no new features noticeable. Al
the close pork shows an advance of nc.
lard of 215c and ribs 21lc, with sellers at the
improvement noted. Receipts of hogs con-
tinue liberal, and the estimates for the
week, it is probable, will be fully realized.
Pork closed at S1O.35@1O.45 August and