St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-04-05
Somewhat to the Surprise of the Crowd,
May Pork Has Become Suddenly
Quite Strong.
The Market For Wheat Rather Weak and
Lifeless and Decline Noted
For the Week.
Lack awanna the Most Active and
Weakest Stock In the Wall
Street Market.
The Feeling in st. Paul and North
western Very Bearish--A Dull
and Heavy Close.
Chicago Grain and Provisions.


Special to the Globe
CHICAGO, April 3.-''The stock of pork
would be nearly loo, 900 barrels less than it is
now" said broker, "if Sid Kent had not
been short the mark ct and believed that
there was a deal on hand. That set him TO
turning out an enormous amount OF pork at
his house. He made this season $4,000 bar
rels himself to just dump on the mar
ket and break the price. He pocketed big
loss at the yards, but preferred 10 do that 10
selling his shorts" at a loss on the board.
By overlooking the market he broke the
price Of all sorts Of produce, aud good deal
more than rec ouped his losses on pork. The
big winners have been Kent Singer, Baldwin,
Armour and Charley Wright. The latter is
said to have made $4,000, and Singer is now
transferring back to him all the real estate
upon State street that Wright put up when
his luck was not as good. Pork, L think, is a
good, safe sale, and that IL will go out as IL
did last year, between So and SIS barrel 1t
did not ali go out at that for there are $4,000
barrels of old stock here yet"
PROVISION TRADERS SURPRISED.
AS the market moved along traders in
provisions were surprised IT the strength
developed by pork. May moved up to
So and closed at $3.50. an advance from
the bottom Of l5c. This was caused by in
1luences partly speculative and partly nat
ural. The demand for meats is much
sharper than for pork, presenting the pos
sibility that it NAV become sharp enough to
encourage the stripping of pork. But
more than this the selling of pork since the
market became very weak has been SO gen.
eral that the chance for the manipulators
has vastly improved. The bulls at Sill. so
have been the vehement bears at So. 80, and
this makes rallies natural and probable.
StatiSticians this morning estimated that the
decrease in the visible supply OF wheat for
the current week would be less than 500. 900
bushels. BradStreet'S estimates had free
circulation. Early New York dispatches
predicted lad bank statement "a predic-
ton subsequently verifed.)
FRIGHT ROOM WAS SCARCE
and lake freights were exceedingly stiff and
higher. The temper of the crowd was
bearish, aud majority Of the cables that
percolated through New York repeated
once more the oft-told story. These causes
combined to render the market weak, and
the prices of wheat declined &c from yes
terday's closing, May touching S0Lfc and
June see. The market turned up from the
putt price and advanced 4@4c. Dming
the greater part of the long session May
sold in the vicinity Of S015@6oXc, but
shortly after noon the market made little
squirt on the receipt Of fresh batch of war
news, Turkey and Greece being represented
as Oh the ragged edge of a deadly embrace.
Wheat closed to-day about 1c lower than
last Saturday. Several times during the
week the market has started up and down
with titful impetuosity, as though
DETERMINED TO SOAR
through the skies or plunge through the
crust Of the earth, but in every instance
the tide has been turned without great ap-
parent strain. The first part Of the week
the large operators on the bear side sold
freely, but the last few days they appear to
have been less active. The war bulge
about noon only lasted few minutes, and
the market turned down. May dropping sud-
denly from S094c to S0s5c, when the privi-
lege brokers came to the rescue and held
the market steady for the remainder of the
session, the close being safely above the
putt price. Corn was steady and fluctua-
tions in speculative were within narrow
limits, &c marking the extremes. Trading
was light. and now that the shorts have
covered the brokers in the corn pit have
very little to talk about.
PETER BERKEY. Pres. +. W. ANDERSON. Cashier.
CIV. GEIGGs, V. Pres. A. e. ANDERSON, Asst c.
THE ST. PAUL NATIONAL BANK,
CAPITAL, 100000.