St. Paul daily globe., 1886-08-11
IN SPECULATIVE PITS.
LIN 0l LIZ ~ Liza IL - l. - NJ
Wheat Shows Considerable Strength, Not
withs+anding Bearish Govern
ment Report.
Buying by Shorts Absorbed all the OHer-
ings, and Prices Continued Higher
Than Opening Figures.
Heavy Receipts and Copious Rains
Combine to Break Corn, B ut
it Recovered.
Stocks in Wall Street Held up by the
Bull Clique and Closing
Higher.
Chicago Grain aud Provisions.

Chicago Grain aud Provisions.
Special to the Globe.
CHICAGO, Aug. 10.-There was a set of
weak markets ON the open board and on
the curb, but they became a shade firmer
after the opening, Wheat fell since yester-
days close from 753lc to 75$sc. On the
open board it sold mainly between 1880
and 7515c. The official opening was at
7512c, and Oh brisk local demand it soon
advanced to 75&075Tc. The carriers, on
a market like this, are in high feather.
Billy NJ cHenry was all smiles this morning
when he remarked, 1.-The cents month,
] belle We, goes right aloug." Wheat re-
ceipts to-day were 174 cars of winter and
62 of spring, making 246 altogether. Corn
to-day was 97S cars and oats 323. This is
very close to yesterdays estimate, which
was 26S of wheat, $50 corn and $50 oats.
The Withdrawals from store were 50. S45
bushels spring wheat. 161, 434 bushels corn
and 8, ,463 bushels oats. Corn was
ALSO LITTLE EASIER,
but no special attempt was made at the
opening to do much. The weather was
against the market Local rains are re-
ported in Indiana. Illinois and Iowa, in
fact generally throughout the Missouri
valley and upper lake region. Oats showed
a sharp detection, opening at 2S75c for
September, the close last night being 291ac.
September pork sold early at S9.50@9. .521a,
which was also closing prices. Not much
of range was shown in the wheat market
until pretty close figures began coming in
on the government report, and then an
easier feeling and downward tendency set
in. The receipt of the report itself broke
wheat off from 75%@754c, though the
reaction carried it back within &c of the
starting point, leaving September at noon
75%@75Nc. In brief, the government
estimate depreciation in spring wheat of
about 5000, 900 bushels, and in corn of
about 80, 900, OO5 bushels. Winter wheat
is not mentioned. Before noon quite a
little long wheat was brought out. it being
considered altogether probable that the
market would break, but the short interest
was sufficient to absorb about all the offer
ings. and prices continued at figures just
shade higher than they opened. In many
quarters
THE FALLING OFF
in the government report is not as great as
was expected. A moderately active bnsi-
ness was transacted. The supply of sellers
noticed at the opening became less as the
session advanced, until at the final close
the demand was good, with holders inclined
to be firm, The top figure for the day was
1870. This was made moment before
the close. The advance from 755lc around
which the market oscillated was caused
wholly by local demand. There is little
question that heavy corn receipts and the
rains mentioned above were the main causes
in breaking the market. Before noon Sep
tember corn had got down to 42Sc. almost
1c from what it had sold at earlier in the
day. Later. however, it recovered trifle
and struggled hard to maintain it. In pro-
vision circles the talk is still that Armour
or other big interests are running deal in
ribs. Prices rather tend to confirm it.
Last year this time ribs were S5.55; last
week they were $6.25. Lard and pork, on
the other hand, show very little apprecia-
tion-about 25c in pork and SOC in lard.
To-day pork opened at $3.50, sold to SO. 60,
then off. in sympathy. to $9.4715, and
steadied up around $3.50. The small
grains were easier all around and ruled
rather heavy than otherwise, everything
closing barely steady.
PETER BERKEY, Pres F. W. ANDERSON, Cashier.
J w. GRIGGS, V. Pres. A. C. ANDERSON, Asst C.
THE ST. PAUL NATIONAL BANK,
CAPITAL. $500,000.
Cor,er Fifth opd Jockcon straat,