St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-18
THE DOWS CORN DEAL.
Not Less Than Five Million Bushels of
Grain Bought Here by the
New Yorker.
Wheat Shows Marked Firmness and Ad-
vances Sharply, Closing at the
Top Figures.
Oats, Though Dull, Close Higher, but
Provisions Drop, Owing to
Good Receipts.
A Bear Raid on Stocks Interrupts
the Rising Tendency in
Wall Street.
Chicago Grain and Provisions.

Chicago Grain anu PROVISIONS.
Special to the Globe.
CHICAGO, Feb. 17.-There was more
genuine firnness to wheat to- day than has
been seen for many day. Continental
cables came in firmer, accompanied i'm some
instances by Instructions to cancel previous
selling orders. English cables were not in
accord with those from the continent, and
continued to be dull and heavy, but the do
nestle markets showed improvement every
where. New York, Duluth, Toledo. Mil
waukee and Detroit prices rejecting the
trading temper at those points. Commits
sion houses reported more country business.
and an air Of cheerfulness pervaded the ex-
change sensibly different from that of yes
terday and the past fortnight Before IL
o'clock the taking of eleven boat
loads for export was reported
from New York, and dispatches began
to come in touching the condition of
winter wheat. Nothing sensational was
developed, and news from the wheat
country was of conflicting character, but
the reports were as a rule. that if no actual
damage had as yet resulted from the freeze,
the plant was in jeopardy. May opened at
Sac. sold off 1sc, and advanced to S41@
S45sc, from which point it slowed off to
SAGE, and then on war news dispatches
cOnfirmatory of the improved continental
cables late advices of hardening of the
English market (Which late advices were
in turn contradicted) and
ENCOURAGING NEWS
from smaller American markets prices
again advanced to the top. Calls were again
quoted at S419c last night and at that
point large quantities of wheat were offered
by the privileged traders. This held the
bulls in check and prevented further adj
vance. though the temper of the crowd was
bullish. The closing at 1 O'Clock was at
S4N@S43sc. On the late board there was
another advance of nc all around later
figures being 1910 for February, 791Zc for
March, S45 for May and S6Hc for June.
Business during the last half hour of regu-
lar trading was lively. Some of the bear
houses had cables cOntradicting the reports
of better feeling in Liverpool. David BOWS
has, everybody knows, been engineeri ng
a corn corner at New York for the
month of February. Within the
past few days he has apparently transferred
his operations to Chicago. Within the last
two days upwards of 5000, 900 bushels of
May corn has gone down to Bows, Mum e.
Co. The purchases have been made largely
through Fleming & Boyden and through
George Parker IL Co. 1t would be worth
some money to be able to decide whe'h her
these big Chicago transactions are simply a
side show of the New York deal, or whether
the deal has been really transferred to
Chicago, where larger transactions are easy.
One theory is that Dows' purchases here
are simply for the purpose of turning
CORN TOWARD CHICAGO
and keeping it away from New York. 1t
is remarkable that purchasers of so vasta
scale have moved the market up only about
1c bushel. There is some talk of large
shortage by Partridge, the dry goods man,
and by Cudahy. But this shortage on the
part of these operators grows out of the
sale of calls, it is said, and does not exceed
a few hundred thousand bushels. May
corn all day kept very near to 414c bid
with sellers offering at 41S5c for May. The
close for the day was 40s6c better than
yesterday at 375Sc for February, Csc for
March, 3S14c for April and 41ssc for May
and June. Oats were quiet and without
important change, closing at soc
for February, 30Hc for March and
33c for May. Provisions began sliding
down hill this morning on fair receipts of a
better grade of hogs than have been coming
in lately. Pork sold down to S11.0715.
and the pressure was from the top. The
packing company offered property in big
AoUo az Vic MAJ hCI, pub WHICH, VALUES ooclitu
the weakest, Stone and others came for
ward and took all the pork that was Of
fered, picking up 49, 900 or 20, 900 barrels
Buying then became general, and the price
climbed to 81. 1713@11 1t subsequently
dropped to St1. 1213, but the market hard
ened somewhat. and the closing this aft
ernoon was very nearly the best figures of
the day on all products.
PETER BERKEY sPres. +. W. ANDERSON Cashier
c. w. GRIGGs, V. Pres. A. c. ANDERSON, Asst. c.
THE ST. PAUL NATIONAL BANK,
CAPITAL g5O0 000