St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-30
AN EXCITED CORN PIT.
Chicago Traders Perfectly Wild, the
Bulls Seeing no Present
Limit to Prices.
The Cereal Sells Up to 40o, but Loses
Its Grip Later on Account OF
Reports of Rain.
All Kinds of Devices Fail to Move
Wheat Up and it Closes at
Slight Advance.
Stocks Open Strong, Vanderbi1ts
Leading, but Close Heavy--G rang-
er Shares Close Lower.
Chicago Grain and Provisions.

Chicago Grain and Provisions.
Special to the Globe.
CHICAGO, July 29.-About all the
strength in to-day's markets was shown at
the opening or before, though the general
range in wheat was above the close on
yesterday, while provisions showed a
marked increase in price. Corn traders
were nearly as wild as ever, bulls not see
ing any limit to the prices. All sorts of
prices were quoted on the curb. The close
at L o'clock yesterday was 45@451sc for
September. Later it was boosted up to
46%c- BY 9 o'clock to-day it was soaring
around 471%c. There were plenty of sales
on the open board at 47$4c and reported
sales at 4Sc, but while plenty of men heard
of them, none could name either seller or
buyer 1t is extremely doubtful if such
prices was paid. The regular session opened
with 47c and 4712c bid in different parts OF
the pit, which was a place OF the same
wild excitement that has characterized the
opening for several days past. The official
reporter called first sales 47c. which was i'll
actual fact the market, as wild trades
either wayare not counted. 1t sold to
4714c, Baxter and others bidding the market
Tor 1OO,0 900 buShel lots and giving it
strength. Offerings however. were plen-
tiful and the price went steadily down to
4615c inside of an hour. Later it picked
up to 46%c, but once more fell to the low
point 1880. and subsequently recovered
to 46$Ic but the strength was nowhere
near as pronounced as formerly and the
bulls seemed Tor the moment to have lost
their grip" Receipts were 313 cars. Dur
ing the early morning Cudahy is said to
have unIoaded large lines that he took yes
terday. There was the usual number Of
means from the belt" all on account of
the
CONTINUED ABSENCE OF RAIN
in quantity to accomplish any good. Carr
showed stalk about a foot high from Kan
sas with partially developed ear about
the diameter of full-grown broom-handle,
and letter accompanying saying that no
matter what the weather was from this
time on. the yield would not be ten bushels
per acre. Around noon the price kept
closely around 463s @462c. The final close
was quiet. All sorts of devices were used to
move wheat, but success attended only the
efforts of the bears. as at no time during the
day were sales as high as they opened. Sep
tember opened at 7755c. and soon ran down
to 7615c. Then an unknown genius. brought
into the pit a ticker tape containing very
threatening accounts of preparations for
immediate war by some foreign power which
discovered the gag was a month old. The
natural reaction put the price back again to
762sc, though later it recovered to about nc.
Early sellers became buyers during this last
half hour, putting September back to 773sc
before l o'clock. 1t closed steady at II &c.
Calls prevented any further advance.
Eugene Tufts has advices that some 3, $780,
600 bushels of old wheat on the line of the
Manitoba road is to be moved to Duluth the
latter part of this week or the first of next.
Reports to the same firm from st. Paul are
that in Minnesota harvesting is progressing
favOrably but that more old wheat is in
farmers hands than was expected. Pro-
visions were very unsettled and decidedly
higher. September pork was in especially
brisk demand, opening at SOTO and
advancing to $1O35, but later losing
15c of the advance and closing firm.
PETER BERKEY. Pres. f. w. ANDERSON Cashier.
J:W. GKrGGs, v. fres. A. c. ANDERSON Asst c.
THE ST. PAUL NATIONAL BANK,
CAPITAL, 100000
Coruer Fifth and Jackson streets
The Quotations.
CHICAGO, July 29.-Flour quiet and I'M
changed. Wheat active and generally
stronger. closing 24c higher; sales ranged;
July T3340747sc, closing at 742sc; August,
T41aG 1870, closing ut I5Ac; September,
rs 5-l6GIT715c, closing at III; No 2 spring,
T43E@14$4c. Corn excited and higher closing
&c higher than yesterday; cash, 44D44Ic;
July, 44l4@45Hc, closing at 443Sc; August,
445g@45$4c, closing at 441sc: September,
451g@471ac, closing at Acc. Oats active and
firm, early closing easier; cash, 27Ic;
August, 27a4@2S34c, closing at 2Sc;
September, 2939@30ssc, closing at $3.50.
Rye quiet; No. >, sage. Barley, quiet; No. 2,
6lLc. FLAX seed steady; No. l. S1.12H.
HESS PORK. cive and higher; cash, s9.971a;
August, :" .l1o.I215, closing at $9.9TEa;
September .:.o'h@l0.25, closing at Sl0.O715;
October &,o.luQ1I035, closing at S10.l71@.
Lard STEADY ;:nd firm; cash, S6.75; August,
ST. TCQl06.S715. closing at $6.75; September,
So. SO@92%, closing at $685.. Short rib
sides steady; cash. S617H. Boxed meats
steady; dry salted shoulders, S6.1O@6.15;
short clear sides, $6.7O06.75. Whisky firm
at S1.12- Sugars unchanged. Produce Ex-
change-Butter ruled steady; creamery, 100
1SI5c; dairy 136l5hc Eggs IO0IIc