St. Paul daily globe., 1885-05-27
Shows Decided Increase, and Sharp
Decline in Prices is
the Result.
a Satisfactory Day for the Sports, but
Sellers of Puts and Calls
Demoralized.
Wheat Closes Two Cents Lower, Corn
Weak and Lower, Provts-
ions Weaker.
Railroad Stocks, However, Take the
Opposite Shute--Wau
Street Gossip.
Chicago.

Cnfc8SOs
Special to the Globe.
CHICAGO, May 26.-The upward turn,
which the markets on change took yestcr-
day afternoon, was received by check to-
day. The bulge was OccaSiOned by the
statements in the New York produce pa
per that the visible supply would show a
decrease. Bets were freely made In
brokers' Offices here, after trading hours,
that this decrease would amount to from
1000, 900 to 1,50O, 600 of wheat. The
old game, described yesterday, was carried
out in the afternoon. as usual, and large
number of puts and calls sold at 7a cents
from the market each way. But the con-
sternation of the oversanguine sellers can
be imagined when they looked at the legend
on the blackboard this visible
supply of wheat, increase 179, ,S81 bushels. !"
The market opened &c lower at the
first Quotation, and went on down,
until 9Oc for July and SS1sc for June had
been touched, with puts about full cent
away. For man who sold 10, 600 BUSH
els in this way the difference of 1 cent
meant for him a loss of
A THOUSAND DOLLARS
and proportionate gain to the other fellow
who bought In addition to this increase,
which was in itself sufficient to break the
market, was the much higher quotations OF
cereals, indicating peace abroad. In con-
sequence July wheat, which had closed yes
terday at 913sc, opened to-day at 905sc.
Trading was more active throughout the
morning session and confined principally to
the scalpers. The first thing to break the
monotony of the occasion was the appear
ance of Norm Ream in the pit. He pro-
ceeded to dump two lots of $4,000 bushels
each Oh the already declining market, and
the price struck soc. George Smith and
Hobbs also helped things along by throwing
on lot of long stuff After this the mar
ket held steady, as a great many stop orders
at 90c came in, but along toward the close
Lester came in and broke the market to
S9Nc by heavy selling. Local shorts
covered and after this the market closed
weak at 90Ic. On the afternoon board
there was marked activity.
SOME HEAVY SALES
being made, and prices were again lower.
The close was weak at S71ac June, and a
decline of &c from yesterday: $3.50 July,
decline Of &c; 915sc August, decline of
&c. Many large traders are of the opinion
that the receipts of wheat will very soon
show very decided increase. They base
their opinion on reports that the country is
leading UP immense quantities of the grain
to ship, and that the Burlington road has
already exhausted its supply of cars and is
looking to other roads for more. The crop
reports circulated were to have the effect
that Georgia will have only so per cent. of
full crop of wheat, Alabama full crop,
Kentucky 25 per cent. less than full crop,
the Indiana wheat yield improving rapidly,
and Ohio expecting nearly full crop.
Corn was less heavy, partly because it
had good break yesterday and partly be-
cause of the shipping demand for home
uses continued open. The June and July
options opened 14@3sc lower and broke
I@4c more.
AND THEN STOPPED.
The receipts were nearly 700 cars. Liver
pool was one penny per GENITAL lower, but
shorts were glad to fill large lines, which
had been out for some time, and the buying
around 46c for July was vigorous enough
to make the bears hesitate. The stock of
rorn is slight and is only 500, 600 bushels all
told. The increase last week was only
about 400, 900 bushels, and unless current
receipts continue large the present decline
will undoubtedly be arrested, although in
the judgment of well-posted traders the
price is yet far above the well-posted pro-
portionate price of wheat. All know that
spring seeding and planting has been late,
but with good season from this time forward
ihis backwardness can be regained. The
market opened 1870 for May, sold up to
47c-yesterday's closing price-but dropped
off again, closing at the opening figure. June
opened &c off, at acc, closing at 45Tc. July
opened a c off at 46c, closing at the same
figure. August closed &c off, at
464c, and sold &c lower, at 46%c. 1t is
predicted that before the week is out all the
options, May included, will be in their
natural positions, with the far-off months
1t their
PROPER PREMIUMS.
Oats were in unusually liberal receipts,
but after opening nc under Yesterdays
closing figures became quite active and
moderately firm, fuctuating &c each side
of the opening, and closing well up to the
top. In the 10 o'clock call May sold at
8215c, June 325sc, July 321 &c and Septem-
Der at 2715c. The 2 o'clock close was
about unchanged, at 325sc for May, 32Ic
for June, 80 ~ for July, 3S14c for August,
s714c for September.
Nat Jones, George Baldwin and others of
that ilk indulged again in their diurnal
game OF Scalplng IN provisions. The mar
ket opened slow and little lower, and dur
ing the morning session tended steadily
downward, with a falling off of 1O@1215c in
pork, 5(071ac in lard, and about 25(05c in
ribs. A portion of the early weakness came
from the depressed conditions at the yards,
the live market being 5@1Oc lower. The
easier feeling once fairly started in, the
market went on of its own accord. The
close was weak at S1O.75 for June pork.
B1O.S5 July, $1O.95 August. Lard S6.O
for June, $685. July, S6.721S August.
Short ribs $5.57115 for June, S5.47L july.
G5.55 August. Two thousand barrels of
January pork were sold on the call at from
S1O.45 to $1O.50. This was the first public
sale of this summers pork.
At the stock yards business was rather
slow and values, especially on cattle and
hogs, shade lower, as compared with the
corresponding time last week. There has
been an increase in the receipts of Is, 900
hogs and decrease of about 2,7OO cattle.
The Quotations.
CHICAGO, May 26.-Flour dull and weak
but unchanged. No wheat higher in spite of
an advance in consols and an increased visible
supply which was disappointment to many