St. Paul daily globe., 1885-02-04
UNSTEADY AND INACTIVE.
4 Very Small Decrease in the Visible
Supply Statement Temporarily
Strengthens the Market.
The Market Dull With But Little
Trading and Largely Influenced
By Open Weather.
May Wheat Closes lac Higher, Corn ana
Oats Stronger, and Provisions Strong
est of the Lot.
Decided Improvement in the Stock Market
Lackawanna Being Bulled
Out of Sight.
Chicago.
Special Telegram.

Chicago
Special Telegram.
CHICAGO, Feb. Sin a general way the
day on Change was very quiet, with specula-
tion reduced 10 a minimum by reason OF no
orders, either locally or outside. Wheat
opened steady at slight advance, May wheat
selling up to S34c before the close, though
the latest figures of the day we're 4c under
the highest point reached. Corn was weak
and unsettled. No. 9 May sold at 3911 to
39Ic, and closed at 1890 bid. Oats were
fairly active, and shade higher for the dis
tant futures, May closing at 30Hc the high
est figures of the day and &c better than
Mondays latest quotations.
PROVISIONS ATTRACTED ATTENTION
early in the day on the strength Of better
markets at the yards, and throughout the
early session ruled active and little higher,
the advance being well sustained until near
the close, when prices fell off. closing shade
higher than Oh Monday. Following were the
closing quotations for May options: Pork,
$12.575F; lard, s7.121z; ribs, s6.42]&.
The grain market failed to develop any
new features of pronounced character.
ceived attention, and the absense Of factors
calculated TO exert a marked influence on the
values in either direction, caused a
hesitating movement on the part OF
. large majority Of operators. The
opening sales showed a slightly stronger
feeling and an advance Of 3501Ec was soon
recorded, and a further advance followed the
visible supply statement, February wheat
selling up to 775zc; March to 7754c, and May
to S3Lc. The slight increase noted in the
visible supply statement (only 220, 200
bushels) was the only strong feature of the
market throughout the entire day. Milmine
Bodman, Fleming and Boyden we're
HEAVY BUYERS,
and Hobbs led the selling. But the dullness
reported in Liverpool and London and the
absence of outside buying orders was a
damper on the local traders, and the early
demand being soon filed, the attempt of
scapers who bought on yesterdays
break to unload was followed by
decline of 5E@2[c from outside figures OBJ
tanned Immediately after the opening. The
soft weather and fears that another crop
OF the snow from the winter wheat fields
rendered the bears more than usually shy
about selling, and, Influenced by fair buying
to cover shorts put out on the early sbulge
and moderate takings by scalpers, who hope
that cry Of damage to
WINTER WHEAT
or some other influence, now unseen, will
develop to bring on an advance, quotations
rallied to the outside figures. On first i'm
proyement the buying was checked by the
appreciation, and the market closed
easy at nc under the outside prices.
February closed at 77c, the opening figure,
March at 771lc, and May at s3c, or 5s c better
than the opening quotations.
Spectators are chary Of handling long
lines Of stuff as the unsettled feeling of the
market may develop into a strong upward or
downward movement at any time and on
very short notice. The apparent unwilling
ness Of the shorts to hammer the market Is
regarded by many conservative operators as
favorable sign, and while there are but few
supporting features, they say 1t will require
but little encouragement to cause an upward
movement.
The chief hope Of the bulls at present,
however, is in fresh scare regarding the
damage TO the fall sown crop. "I have very
LITTLE FAITH IN ANY BOOM
that may happen now, being sustained"
Said NJ l.. Bodmau: "The increasing re-
cepts, aud hight export movement should
give US lower prices and l think they will,
although the exports from the Atlantic
ports during the week aggregate 200, 900
bushels. This amount is not sufficient to
stimulate values for bull speculation to any
material extent"
The situation Is without any important
change" said Geo. j. Brine, ''and see
nothing that warrants expectation Of any
permanent advance in values" "The mar
ket to-day can't be properly called a weak
Que, said Geo Everingham, 'and l think
prices are bound to go higher. / am
buying on all weak spots aud expect to
make money by the operation. We have an
advantage on the bull side that viii not be
without its effect very long and that is the
weather. Any sudden change in tempera-
ture that will cause covering by shorts is
boand to result in a smart advance"
CORN
seemed reluctant 10 20 down very fast, al
though the visible supply statement shows
that the movement from the first hands
is increasing aud the receipts to-day were
larger than usual. Corn maintained its
strength chiefly through the increased activ-
ity Of provisions, and prices
for the day were but slightly
changed auctuating In narrow
range. February opened at sec, advancing
later to S6Ac and closing at S6Rc. May
opened an 4 under Mondays closing at 80 sc
rallied to 99Jsc, fell of aud closed at 80 9s<c.
Trading was light, speculation being almost
entirely confined to the MAY option.
There WAS more doing in the market for
hog products, and a stesdier feeling prevailed
throughout the day at slightly advanced
figures. There was no change Of Importance
for some time after the opening unsf some
heavy buying OF shorts sent prices up a peg.
although trading continued light, under liberal
offerings. Smaller receipts OF
HOGS
aud rather better market AZ the Yards held
prices tolersbly firm, aud stocks posted to-
day showing that the amount Of stuff on
hand January 81 wss considerably less than
anticipated. Mess pork was fairly active,
opening on a basis Of SASS. MAY sold at
sls 20, sud closed at Sl251A 6Sla 60. Lard
opened a, $40. May sold at Sis and
closed at s. lalS bid. Short rib sides were
hrm under an active demand to cover the
shorts, and prices advanced lsL@isc.
Aarch opened at s6.sstS, sold at So SIX,
aud closed at $3.50. MAY op-ued at So. 40.
sold to s6.ss'1, closing at s6.4st
At the stock yards the receipts Of stock