St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-14
TUESDAY ON 'CHANGE
Despite the Cold Weather
and a Decrease in Visi-
BILE Supply,
Wheat Declines to the Extent Of
Three-0uarterS Of a Cent
ALI Around.
A Good Deal of Unpasiness Manifested
by Spectators Regarding the
Outcome of the Winter
Wheat Crop.
Corn Continues About as on Monday, Oats
Rise Trihe and Provisions Close
Trife Lower.
Shares Very Firm at the Finish, After a
Day of More Than Usual
Quietude.
Corn Continues About as on Monday, Oats
Rise Trihe and Provisions Close
q Trife Lower.
Shares Very Firm at the Finish, After q
Day of More Than Usual
Quietude.
CHICAGO.
Especial Telegram to the Globe. |


| crease Of oyer 600, 600 bushels in visible sup
| ply AS reported by the secretary Of the Chi
cago Board of trade, wheat ruled weak, and
at the close showed decline of &c as COM
| pared with yesterday, the last figures in Feb
ruary being 1899 and on May SEC. Corn
was without special features and quite steady,
| February closing as Oh yesterday at 362c
! and May &c lower, at 403[c. May oats
were Sc higher at Soc. The movement in
! provisions was in sympathy with wheat and
| pork closed 71lc lower for February, at
s1l.92, and lOc lower for May, at s12.32H
| Lard closed 215c lower, at Sc s21z for Feb
ruury, aud $40 for May, and February ribs
closed sc lower at So 90, and May ne lower
at Sc %.
| The bulls of the wheat pit experienced
weak and unsteady sen sations about their
knees toward 10 O'Clock this morning, but
before the close Of the morning session they
had braced up again and were feeling well
! as could be expected under the circumstances.
May wheat, which is ''the" wheat of the
present era, opened &c higher than Vt ster-
! days closing price at SIC, but this slight ad-
vancement at the opening was delusive, as a
number Of operators found who made pur
chas, at that point. Il may have boded a
strong day, but it opened the weakest one Of
/ the year. There was rapid decline, which
stopped only when the price had dropped to
| S515c. The number of small traders who
! were quite willing to realize OH their holdings
/ were so large as 10 prevent decided reaction
| when q point or two of decline had been
| fnH cpli nj m IN
be specified, but there were not many OF the
heavy weights among them, which was
circumstance received vi much
satisfaction 10y the supporters OF high price
doctrine. When the option had sold down
| 10 s5}lc and had recovered to s5S4c, a
broker who had done IL good deal more
| thinking than trading, was heard to remark
that wheat would sell at 90c before it touched
S5c. No one took the trouble 10 contr diet
hin. 4 good deal of sealping was done on
the decline, SO that, all together, the day's
trade was fair one. The feeling ON the after
| noon board was stronger, and the close was
at SIC Jones, Lester and Baxter were among
the sellers, and Lindblom WAS buyer. The
visible supply does not fall off very fast, al
though the decrease last week amounted
to COG, ,6S7 bushels. Liverpool was
! firmly held. but Mark Lane was
easier and lower pence per quarter
for California of coast on passage and
nearly due, and pence per quarter for red
winter for prompt shipment. The receipts
for two days were 1896 cars, agaius; 255 yes
terday. Some parties think THAI the winter
killing OF wheat will play an important part
Z
others scout the idea as simply scare gotten
up to affect prices. With the ground bare Of
snow. and With alternate freezing and thnw-
ing, it would seem that the idea of possible
injury is not 10y any means an absurd one.
Tue gossip on the floor aud in the Offices
appears to point In the direction Of another
marked advance in the price Of wheat after
the break of to-day. The fact that the visible
supply is now steadily decreasing is regarded
as uulavorablc 70 a decline below the point
reached to-day.
Zone thing Is certain, that some stray
parties must have gone heavily long to-day
al about SIC for MAY" said Eyer.ngham.
The situation strongly resembles that near
the end of last year, Immediately before the
bull movement showed itself, and With an
Immense increase In speculation not only
here but in Europe, the chances for stroug
upward movement appear uear!y as good now
as then. Wheat is stil! cheap, at any rate,
our foreign customers must think SD, for
they are much heavier buyers now than at
the end Of last scar, and i, has st.l to particle
pate In any general improvement q! business,
which looks AZ though II would not be much
Longer delayed
Corn was somewhat weaker and lower
most OF the dag, partly in sympathy With
wheat and party because the visible supply
showed an increase OF 95. 34S bushels last
week. and our receipts to-day were 523 cars
agaius, 434 Yesterday. Some think we shall
have large receipts OF corn very soon, as
only 4 small portion OF the crop has as yet
come uu the market The quality, howeTrr.is
uoue Of tlr best. as only TS cars graded No.
to-day, aud percentages equally low have
been the rule ior some time, but there is a
continued good shipp ng demsud, which
picks up al the No 3 that is oferrd. Tue
Nav option, wnicn monupOlized the trading,
opvurd Il of At 4Oltc and sold down TO
4Oc. hui later there was some good buyirg
on Ton account by local operators, and up
ppr,iug or,iers from other points ~rre liberal,
the result being an advance 10 40j<. The
close vas at 40Sc.
Mimln-. BoJinsn & Co. say: There Is
a good strong export demand for corn right
aloug and a gUod home cOusumptive de-
msud also. and this demand i likely 20 con-
tinur. hence We regard the corn market ss
in = healthy condition and believe al any
lurth-r decline ii will be safe purchase"
Provisions opened steady AZ tie full closing
/ figures Of yesterday. but gave way later In
sympathy With wheat pork stllinE Of IKE
/ To tue lowest figure, but when VEsat rallied
there wzs Z corresponding improvement in
pork. which the simultaneous selling b. sev-
e-aI brokers Of lots ACEregRiing $4,000 bar
( rcls failed 10 affect materially TIE
stuff was easily taken ana oPerstO-s
are uoz inquiring vh0 got T.
/ The market showed gTr4t frRusss at the
close, which was ouly TilGlOc b~lor yester-
I dAy At SIl.93k for February s1d si2-S2X
I Tor Nay Taere was no, nuch speculative
/ trading in lard There Eas sc decline fol-
lowed by &C Alvauee. aud TIE close vas sj{c
uuder ysSt-r3ay Al 81. Ufor Msy. Ribs we're
Inactive, February ruling 4; s. aud Nav =:
S6s5
Al he stock vzris the receipts we're liberal
| and tie trade rather slow n a. dspart1euis