St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-07-01
WITH BULLSAND BEARS
Only Moderate Business Transacted on
Change, With Values Little
Lower,
An Unexpected Increase in the Visible Sup
ply Contributes to the Early
Weakness.
Later a Firmer Feeling Prevail, and
the Early Loss is Nearly
Re9ained.
Deacon White Gathers a Heavy Crop
Of Wool from LackaVanna
Lambs.
Chicago.
special TO the Globe.


CHICAGO, June 30.-There was n comb
nation of causes to-day 10 produce q bear
market Oh wheat First the Chicago visi-
be supply statement, contrary to general
expectation. showed an increase OF about
800 coo bushels. while the New York state
ment increased those figures 10 over 600
600 bushels This was a sumner" 10 start
with. The next fact, operating IN the
same direction. was a rise III cOnsUis and a
decline IN wheat III foreign markets. The
third fact was continued weakness III St.
Louis and the fourth was the last day of
the month. All these influences, working
t0gether, opened TIE market for July 55c
lower and for August &c lower.
4 further decline Of J@I fol-
lowed, and then the market rallied
%@1c. fell away again under continued
offerings and desire to realize, ana near
the close Of the session became finn.
Swapping from July TO August impaired
strength, and the market continued active
throughout. An effort 10 make q break
caused the report to be circulated that Ar
lnour would deliver tomorrow a large
amount OF wheat he has been carrying but
close inc liry
DEVELOPED THE FACT
that his brokers have been selling July and
buying August and September Tor the past
two weeks. In the event Of such a de-
livery what would DE the effect, p was asked
OF Nat Jones. There is no danger Of such
q thing happening" was the reply, but ia
such a case ii would cause prices 10 tumble.
The public may rest assured that all The
wheat has been taken care Of, though
/ believe it is going lower, CD general pin
ciples.' The increase in the visible supply
was used as bear argument, but without
much effect. and the close was firm A
large per cent. Of buying orders were also
against puts, and stop orders were quite
numerous. Schwartz & Dupee, Ben Stauf-
for, Warner, and Field and Lmdlay were
persistent and heavy sellers from the start
20 the finish, while Bliss and Walker were
the largest single purchasers. Field and
Lindlay endeayored TO cause a break by
dumping a single lot Of 300. 600, nut were
unsuccessful, one-third of the amount being
Co. to cover shorts. The feeling among
many Of the big traders here IS
UNDOUBTEDLY BEARIsH.
on account OF the large visible supply and
the limited foreign demand: and these par
ties would not like 10 buy any wheat If they
knew it was going up unless they did it Sc
cretlY), because ii would involve a COntes-
sion VI being wrong, and wound their pride
q opinion Bpt the market submits to an
their hammeriug with very good grace. and
il surprises them almost every day bv going
up more ID an hour than il goes down In
two days Liverpool was quiet ana steady,
and cargoes were easier and slow, with ga
Per quarter decline in California and red
winter Oh passage New York opened
about &c lower for August, and St Louis
about &c, but the latter market reacted
early 5z@Ic. July wheat here was weaker
than August. which led TO the supposition
that deiN eries tomorrow VIII oe heavy.
The close was firm At S7&c July. 901-c Au-
gust, 81 4 e September, 81 re October.
by A MAJORITY
Of 300 votes the proposition % have 10
afternoon session during the months of july
and August was voted down to-day The
young and SpCrtively inclined members
view with great distayOr the prospect of
sWelJeriug away at business during the com
ing hot afternoons, when they might he
more agIeeably employed, but the Older
heads OUnum beTed them. The first new
wheat of tliS seasons crop to arrive in this
market nane IN to-day from Southeastern
Missouri, consigned to r. @. H. SidWell d.
Co There were tifty-ive bags of it. the
sale being made 10 Eckhart s. Swan, mil
lers. In Grade it was equal 30 No. . red.
Exports Were more or less active Ia the
local market picking up 90. 600 bushels.
The com pit showed less activity IN specu-
istiOn 10 futures probably than either oats
or provisions, but the cash transactions
were considerable. Several sh0lt sellers
We're buying heavily 10 cover on the months
sale, and some oi them apparently were
caught short judging from the way I'm
which they We're hustling around. The
crowd showed q disposition TO make fhe
shorts pay for their anxiety to buy corn.
and prices advanced about &c 4 large
share of the days business was buying july
and
SELLING SEFTEI.GGB.
The market opened steady with no es-
pecially new features, AM the close at
o'clock was &c above last dgures OF yesrer-
day. July opened &c lower and August
&c, but this was soon regained and then
the market remained stationary as it has
oone fer some time past. The Chicago
visible supply statement showed aH increase
Of over 400, coo bushels during last week
and the New York statement increased
these figures to nearly 200 coo bushels. but
the shipping demand is good and the cur
rent receipts are not large enough to
K
lses well at present, in spite of weeds and
vet. but too much rain in ihe Northwest is
mjUriug spring wheat somewhat. But The
corn harvest is SO far away. and there is SO
much room for accidents TO the crops be-
tween this time and that future period that
The present strong feeling is liable 10 con-
hnue until me character OF the harvest is
more definitely assured. The close was
hTmer and a higher than YESTERDAY. at
NJ July and August, AZ September.
OATS WE'RE STRONG
early, but closed tame and sc lower Tor
June and July, and 55@L4c lower for the
long futures. Trading was pretty active in
a speculative way and mainly in filling out
standing contracts. No. 2. for july. ran
- high as 80 5,c and fell to 31Lc. closing
al SIC. August closed at &c aud Septcm-
Der at 2Gc.
The provision crowd showed more signs
of life to-day than for several weeks past
but the fluctuations IN prices were quite
small Most of the transactions in the pro
vision pit to-day were transfers Of trades
from one month TO another. The provision
men have done 50 little during the past few
weeks that none of them will suffer q very
tight squeeze when settlements are made.
Pork closed &c lower, owing 10 liberal offer
ings Of July product. al S1O.2215 july.
S10.3 August, S1O.4755 September.
Lard was a shade stronger. at S6.6O0G. 20
for July and August, and short ribs showed
a slight improvement, closing at S5.375SG
5.4715 for July and August.
The Quotations.
"a