St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-14
A Oomparatively Firm Closing, But There
Were Surprisingly Few Changes
in Values.
The Spectators in Wheat Appear to Reg
ulate Their Trades by Aid Of the
Thermometer.
Corn and Oats Appear Steady and
Firm, But Provisions Incline
to Heaviness.
stocks at New York Continue Re-
markably Strong Despite NJ
merous Bear Pointers.
Special to the Globe.

CHICAGO, Feb. 13.-The struggle ms
week between the bulls and bears could
hardly be digniied by the name OF hght'
and it would be saying altogether too much
to call it a battle. To most onlookers the
situation presents itself in very much the
same aspect as a week ago. There is moth
ing to show that the crowd is not pretty
generally .'long." The exceptions are prob
ablv the same as last Satnrday-Realn,
Cudahy. Linn and few other ''plungers.
Bnt Ream. they say, is being rapidly con-
verified over to the short side of the market,
and will soon doubtless be as big bear as
any of them. After daily range rarely
exceeding &c, wheat closes tonight
almost identicaLly where it stopped
a week ago. 1t has been
hard week on commission men, brokers and
scalpers. The two former have had almost
no orders, and the range has been so mar
row as to leave no margin of profit for the
latter. Not few members, well up on the
ladder of success, have wished they might
be disciplined for thirty days that they
might be forced to stay away. The con
clusion is that they couldn't make less if
they were situated where they could not
trade, and they might save some money.
To the bulls the export figures are lighted
up by rays of hope. They figure out sub
stantial increase in the outward movement
over last week, and affect to believe the
visible will show larger decrease than APP
peared on last weeks statement. If these
two
FEATURES BLOSSOM OUT
into facts they will doubtless be mighty
enough to force the market up couple of
cents or so, but there will be nothing to put
under wheat in the way of a prop, and ii
will assuredly fall back again to the point
from which it started, even if it does not go
below it, Intelligent traders on the floor
acknowledge they have nothing more to
hope for than scalp. 1t may be a large
or it may be very small one. The size of
it will depend altogether on a few
days, very few days outside
circumstances, which are just little more
inclined to be bullish than otherwise and on
the temper of the local crowd, which is a
thing mo fellow can find out" beforehand.
All things considered it would be rather
more natural that they should buy wheat
than to sell it. The Gabien interest is I'M
derstood to be pretty well covered up,
though no one imagineS the French ana
English spectators on this market have
gone very far ''lOng" even at
present present prices. All manner of
hog product has had some excellent friends
during the bulk of the time very strong
market, though tonight the May option
stands from 1O@15c lower than week ago.
Bad country roads, which have materially
interfered with farmers deliveries, and wet
weather. which has prevented receipts from
inspecting up to contract grades. and the
running of a February corn corner in New
York have, all combined. had tendency to
stiffen up the market here. AT times the
buying has been very brisk.
NAY CORN
closes substantially 1c higher. Wheat
fluctuated 35c to-day and trading was light.
Some war news that appeared in the Times
yesterday and reproduced in the Tribune
to-day was seized upon by the scalpers as
means TO effect an end, that end being
scalp. Reports of colder weather in the
Northwest were also received and worked
for what they were worth. Opposed to
this bull talk we're bear estimates
of only half a million decrease
in the visible supply and dull and
depressing market cables. The yellow It's
sue put the visible supply at 1000. 900 BUSH
els, but the best statsticians advance
prophecies without confidence, admitting
that they are at sea this week. and that they
are liable to be considerably off in their cal
culations. The claim is made that a large
but unknown quantity of grain has
been drifting through the country
for the past ten days or two
weeks, of which no official report has been
made, and which has been Systematically
covered up by railroads to hide their rate
cutting work, and just where and when it
will turn up are things that no fellow
can find out, assuming that these
mysterious, peripatetic stocks have
was very monotOnous all the forenoon. and
the closing was like the beginning, fluffy
uncertain. Everybody seems to be waiting
on the weather. Gradual cooling off has a
rather dampening effect on the spirits of
the bulls, but no complaints are heard from
the agricultural regions
THE CLOSING FIGURES
were duplicates of those current at the close
yesterday. May opened at 8514c, and sales
were at and between S4%@S54c. closing
at 85@S51Sc. June sold at S61l@S63lc,
with 863lc the first and S61lc the last sale.
February closed at 7915c, March at 795sc
and April at S01lc. Corn again displayed
moderate activity and the market
held reasonably firm, though the
probability of a large increase in the
visible served to deter the bulls from too
free selling. Warren and Bangs were the
heavy buyers of May once more, their pur-
chases giving the market its main surface
strength. There was free selling at Ale,
and the price was lower at the close, with
an easier feeling. May opened at 1920, sold
at 4OYc, broke to 405s @403Ic and advanced
to 41c, but weakened on larger offerings,
occasioned by the break in New York, and
closed at 409lc bid. the same as Yesterday.
February sold at 37@3755c, and closed at
37Yc. A satisfactory degree of activity
was shown in oats, and the market was
steady.
PROVISIONS WERE NERVOUS,
but not especially active. Spectators are
showing no little 'timidity at this stage. not
knowing which way the cat is going to jump,
and not caring to venture far in any direction
until they find out. Pork dropped 100
1870, ribs 5@71lc and lard 21l.
There was recovery from
an early break caused by
mistake of about 400 900 in the posting of
hogs packed for the season. but the market
became weak subsequently for reasons in
dependent of the error and closed soft.
Mess pork for year delivery sold at 81.
For May the range was S1L2715@l1.4211.
with S11.4O the opening and
at $11.10, April at S11.17b.
and June at S11.35. Lard for May sold at
$6.22T@6.2 5, and closed at 1921. March
closed at S6.10: April at Sc. 15, and June at
1925. Short ribs for may opened at 1913
and sales were at $5.621l@5. rs, closing at
$3.50. March closed at S5.521l, April at
S.. 5715 and June at $3.50.
PETER BERKEY. SPres. F. w. ANDERSON, Cashier
CIV. GRIGGs, V. Pres. A. c. ANDERSON, Asst c.
THE ST. PAUL NATIONAL BANK.