St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-25
A VERY DULL DAY.
Remarkable Only for Further De-
cline in Prices of all Cereals
and Provisions.
Timid Holders of Speculative Articles
Stand from Under, Giving
Way 20 the Bears.
Who Crowd Prices to the Lowest Notch Pos
sible, Checking all Trading and
Speculation
The Stock Market Higher and More Active
with Lackawama and the Changers
Still in the Lead.
Special to the Globe.

Chicago.
Special to the Globe.
CHICAGO, Feb. 24-It would be difficult
to imagine the general market in a more I'M
satisfactory condition than was observed on
'change to-day. There was feeling on
the bull side that the improved condition OF
the weather, coupled with a two days alb
sence of all trading, would result in a rush
of buyers in all the pits, aud correspond
ing advance in prices would follow. But
never were plans more completely upset.
Wheat, although opening slightly higher
went off and again off until Saturdays fig
ures were far in advance. May wheat closed
at 82Tc, the lowest point for many days.
Corn, which has for long time past been
the one strong point on change, closed at Ale
for May, and a stronger argument in favor
Of lower prices all around than this could
not be found.
PROVISIONS OPENED WEAK
and lower but ere the close a lower price
was reached. May pork closed 2719c below
the opening. Lard sold off re, closing al
sT.O2H May, and ribs closed 121(c lower at
S6.37J5, for the same future. The leading
articles in the markets to-day were on the
down turn, and while fairly active were de-
void Of strength. Wheat was quoted weak,
dull and lower in leading British and Cont
mental markets, and there was no encour-
agemcnt in the tone Of eastern seaboard ad-
vices. The failure Of the registrar Of ware
house receipts to publish stocks in store, as is
Tuesdays custom, leaves the operators
ola ,.f lie IN,
sight, and rendering many Indifferent
about trading. At the opening, however,
the bulls were disposed to make 4 strong
effort 10 sustain prices. II their efforts to
attain success every bit Of news calculated
10 favor their own cause was employed. The
customary batch Of adverse crop stories was
freely circulated, and the news from the
other side Of the Atlantic was made to look
darker than the continent, where war is be-
ing waged.
ANOTHER STORM
Of great severity was said to be approaching,
and the opening was marked By al appreci-
alton of 14M3sc IN prices, but there was al
most an entire absence OF outside buyin 2
support, aud when the timid shorts, who
were frightened at hull rumOrs, put in circu-
Iation TO induce buying, had provided
for their contracts, and eager
scalpers on the long side were
filled up, there was little disposition 10 buy,
and the efforts of the longs, who had small
profits in their deals TO realize. started prices
OF THE down GRADE,
and the market closed weak and &c under
Saturday. general feeling exists that there
is large amount of wheat held here on
moderate margins that must be thrown over
before any material Improvement iu prices
can be looked for with confidence. At the
close February was quoted at &c, decline
OF Il &c, while Nav showed falling off Of
lHc, closing at - Lc Operators have but
little to say OF the situation, and the
usual war cries OF bound to 20
up tomorrow" and prices must 20
lower" are heard in the bull aud bear
camps. The big dealers are noticeable chiefly
by their absence Just at this time, while the
small fry are doing all the business that is
being transacted, and It must be confessed
that the aggregate amount is very small.
There was an effort TO holster up May corn,
in which Lester was somewhat conspicuous.
lie was persistent buyer at 4l@4155c, all Of
which was very encouraging 70 the most
timid members 81 the bull fraternity, who
were inclined 10 stampede in the tacr Of an
ticipaicd receipts tomorrow of 200 cars.
McCIcary bought 100000 bushels Michigan
corn from E.dredge, which Is about all that
can be said Of The days business in
the corn pit. The closing price OF May
was &c below ;he opening at Ale. The
gossip on Change IS so
DISTINCTLY BEARIsH
that it's a wonder the myriads Of small longs
don't drop every thing and Zee from the
wrath 10 come. The class Of traders wto
deal with bucket shops are reported 20 he
long about fifteen 20 one, while The PROBES
sional speculatots generally are said 10 De
short, and getting shorter. Other corn fu-
lures than May we're not inquired for. Cash
corn was hut in light demand and specula-
tive trading was less than for many DAYS
past. Considering that corn has been the
one strong feature OF the market for the past
two weeks, the marked decline is very
dscouragng 10 dealers in that cereal.
Oats were little better than nominal,
opening ut 3l6t3l i c seller Nav, 70 which
future all speculative trading was confined.
At the close prices were lower in sympathy
with wheat, closing at 2794c February, and
30S4 May. at is hard TO kick against the
pricks' was the scriptural lament Of trader
in the pork pit this morning, when Nav pork
was quoted at 1880 and Armour was SELL
ing steadily but very quietly. This trader.
together with a surprisingly large number Of
others, thought the price Of the article was on
the ascending scale and loaded up with the
stun. Seeing about that time that the mar
ket seemed 10 be temporarily weak, these
traders thought they could afford to risk q
little of their support. so they caught more
pork to-day, with the option referred to sell
ing at Sl2S0. These holders Of Nav pork
felt that the circumstances were against
them. Here aud there one OF them
would let go his hold aud prices would
quickly respond by dropping a peg lower
May pork opened at Sl3.O5, but with
out support the market went one. two. ten
points, slowly but surely, until at the close Of
the day MAY stuff was selling at $I9.77if.
The decline in February was not so great
but equally marked opening al Sl2. Sa}5 and
closing very weak at Sass Lard
was weaker aud dull st 5d5l,c
lower. opening at $40 MAY selling OF
ST S5.OsIS and closing at that point.
SHORT RIBS WE'RE MORE ACTIVE
but weak aud declined i5Gl7lSc. opening
AT $3.50 for Nav aud closing at S6S5,s.
Trading was fairly active throughout tae dsy.
though the amount Of stuff handled was
quite small
At the stock yards the receipts in all de-
partmeutS were heavy. agyreEHting greater