St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-11
LIVELY TIME ON 'CHANGE.
Less Sensational News From Abroad
Causes a Decline in Grain and
Provisions.
Excitement on the Board-Disinter-
ested Spectators Enjoying the
Speculative Uproar.
The Markets Close Lower, Weak and Nervous
Further Decline Anticipated
Tomorrow.
Stocks Less Buoyant-The Market Dull ana
Featureless Under Heavy
Selling.
Chicago.

Chicago.
Special to the Globe.
CHICAGO, April 10.-Paudemonium again
broke loose in the pits this morning, and
slioht weakening in cereals was sufficient 10
cause general scramble to get on Top an u
mound the market. The first slumpwas 24c
on the Nav wheat option from last nights
close, opening at SEC, and by diligent tramp
ing it was forced to S5lc, at which hgure
some elasticity was discovered, and IL re-
acted to S6Lc. A corresponding decIne
took place in provisions and corn, ana from
the start the day promised to be one OF VIDE
fluctuations and
IMMENSE sCALPING DEALS.
Outsiders got in heavy orders, and all the
sDeculatiye interests of the country
appeared to have a mild attack OF
the war fever. Though the changes were
sudden and sharp, the majority of the trans
actions in Nav wheat option were in the i'm
mediate vicinity of SIC. and in mat neigh
borhOod an enormous scalping business was
done. The day throughout was full OF excit-
ing incidents, instantaneous trading, sharp
turns. and a general impression at the close
that more money had been made than lost'
A very conservative feeling and the entire
uncertainty what day may bring 1orth IN
the foreign complications, causes every one
TO take in sail, and no failures OF serious
character are even thought of. The limited
gallery accommodations were quietly filled by
an interested crowd Of spectators, among
whom
WERE M4NY LADIES,
anxious to see how the animals usually acted
when they we're excited. There was ample
opportunity to satisfy the most inordinate
curiosity To the gallery-eye they only yelled
until auoplexy was imminent, jumped up
and around, rushed from pit to pit, stuck
up various digits in the air, gesticulated
wildly and RAPIDLY scrawled down some
thing on little memorandum pads. In
reality, they we're all doing business and
were doing it in high pressure style. About
1890 Il prominent operator perspiringly OBJ
served that it was impossible to keep red hot
all the time and for a few moments the idea
became general, but it was only breathing
spell that was required. More wind was
taken and then the bull element
WANTED TO BUY EVERYTHING
in the world for space of about thirty
minutes. Wheat was jammed up to the
opening figure, but it was soon found
that Murray Nelson was selling on the bulge,
and took a tumble. At this point in the
game John Lester ambled into the assem-
bage of howlers and desired all the corn on
earth He was accommodated, hut the price
ran up for May to 45c, and was still further
strengthened at this figure by George Smith,
who purchased heavily. Fifty-cent corn was
thought to be probability Of the very near
future.
WHEAT.
The May option closed last night at $500
and opened at SG1Ic, which change was due
to the fact that British Iconsols were quoted
higher. A great many stop orders came
in early in the day, which broke the market,
as the operators could not catch
1t at the price the orders
called for. All during the morning the price
vibrated between war and peace, and the
local crowd worked hard to make money out
Of the fluctuations. These ranged all the
wav from S615c to S7a6c, back to 852Ic, up
again to SIC, finally closing at S755c. 1t is
the prevailing opinion that there are very
few shorts out. They nearly all got in yes
terday, and were only too glad to do so. On
the afternoon board prices were higher, May
opening at SIC, advancing &c and then
broke to S614c, closing nervous and weak at
8615c. April closed ] &c lower than yester-
day at Size, June l2lc off at SS5sc and
July / 36c lower at 90Mc. There was lack
of
LUXURIOUS CROP
reports received from St. Louis to-day, which
was accounted for by one operator, who said:
''You see, Fraley has bought all the wheat he
wants at present and has shut down on his
crop bureau" Corn held up better than
anything else, the closing price being 1c
higher than the opening-43%c. 1t sold up
as high as 451 &c. In the early hours of the
session Lester and others, who had been
heavy buyers of May option yesterday after
noon, INDUCED in very free selling. They
then turned about and bought again.
George Smith was mentioned as one of the
heavy buyers, and r. w. Durham took
hand in the deal There was relatively
GREATER ADVANCE
in the June and July options than In Nav,
a number of deals being made in the former
Toward the end of the morning session May
corn went down in sympathy with wheat
closing at 44Tc On the afternoon board
prices fell off &c closing 4035c for April,
%4$sc for May. 451tc for June, and 4614c for
July. Two schooners were chartered to-day
TO carry 81, 600 bu. at29lc. Vessel owners are
asking &c, but cannot get the stuff to carry
AT that price. but very uttlc was done In
the provision pit. There was some free sell
ing of pork early in the session by those
WHO WENT HOME
'long' last night, aad under this in
fuence the May option, which
opened at S1225, 15c lower
than the close last night, broke down to
$l2.l0. Most of the trading was confined to
changing from the May to the June option.
The Packing company bought good deal OF
pork. On the afternoon board prices i'm
proved somewhat, May pork selling up to
$l92O and closing at S12.20, April closed at
$i2. 10, June at $3.50 and July at S12 40.
The trade in lard was very good, opening sc
lower at Sc. % for Nay aud closing at Sc. 95i<.
April closed at SO. %, June at sos and July
&c lower at S1.12H. Short ribs were mac
tive aud about loo lower, closing at S6.02$
for April, 500 for May, S6.171S for June
and s6.95 Tor July.
AT THE STOCK YARDS
the receipts OF cattle were liberal for so late
in the week, the demand was active and
prices = shade lower on the ordinary run of
shipping and dressed beef steers. Other
classes were steady. Receipts of hogs light,
market active and prices 5(6l0c higher.