St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-04
They See Wheat Quite Actively Traded
in, but Going Lower all the
Time.
The May Option is eetSing Down as Low
as it Wa Fortnight
5eo,
Considerable Activity In corn anu
Provisf. as, but Prices are some
r4hat Lower.
The Clever Lackawanna Chief, Dea
con White. Caught Short Of HIS
Speciality.
cni,,,o Cra,n and Provisions.

Special 70 the GLOBE.
CHICAGO. Feb. 3-The wheat pit was
pretty fry picking to-day TOT hunsi'
broke IS and scalpers. Wheat was again oe-
pressed and lower. Cables were ouli' anu
although large clearances were reported tne
exu,1rt inquiry was quoted as very hgh'
indeed. The bears were raiding the market
all day. and the news agencies were III
ous1riously at work. An unusually large
ouantlty of bearish gossip was hoaung
asound through the crowd, and everybody
rs stooked nm with it, The bear COM
mission houses expressed themselves as
well pleased with the crop prospects, Ihe colu
weather solIdifying the blanket OF sno" InaI
is now spread over the entire WheaI-pro-
ducing district, and decreasing the DANGER vi
thaws, etc. and dispatches were recei yea
that he ST Louis mllers had quit the neld
disguised. shutting down until times improve
leaying the cash market at that point lifeless.
On the other hand, the bulls lnslsI Inat Ihe
situation is improving, that export no.e
contrary, that the sUocAs All N0'-' 80
vators -
THROUGH THE NORTHWEST
are ran;dlv diminishing, that receipts are
growing smaller and beautifully less at Du-
10th and other places (MlnneaponS eXcepued)'
that millers are drawing hDeraily on ware
house stock and that the visible supply VIII
shrink with added acceleration from now on
In spite of the bad front put on by the buIis'
the temper of the crowd to-day seemed 10 De
decidedly beaTsh, and the pressure from tue
ton drove prices down. AS on previous DAYS,
the put price, seemed to be the stopping
place resting at S4540S47sc after the break
for a long time. Outside business was
slack. and the trading was confined IN
q great measure to local operators ana
scalpers. The last half hour Of the morning
session witnessed a severe attack on the
market and prices broke nc. Ine Dear party
was aggressive, and the Vigor OF the drive
they made brought out considerable long
wheat. The decline developed the adoluonal
fact that the market was well supported by
the commission houses, which wore liberal
buyers.
THE HINT WAS DROPPED
that the bears were covering through com
mission houses instead Of brokers, but that
was the sheerest gossip, and may nave had
not the slightest foundation In 1act. Inc
! O'Clock closing was weak at about the low
est point of the long session, the last trades
in May being on basis OF 843sGb419c. GOOD
buying on the late board broke the market,
May selling 1c of, the close being
at 1889 for February, fs24c Tor
March. S3sI6s4c for May, and 851ac for June.
Corn was weaker and averaged lower, but
trading was small Receipts were lighter
and shipping demand moderate Liverpool
was firm, but New York easier. The weak
ness and decline in wheat shook the conf
dence of holders and no special efforts were
made to sustain the market. May showed
the largest Decline and was 4c lower than
yesterday. Sales ranged at 391sD4O5sc, and
closed at S954c, February at $500
36$sc and closed at 351sc. Oats
were dull and without material change. clos
ing at 281c for February, 2S3sc for March
and 3Islc for May. Steam was put on pro-
visions this morning. Pork opened l0c higher,
lard 21%c higher, and ribs 5Go71ac higher than
the prices ruling at the close of business yes
terday Pork went up another 10c and ribs
21%c, lard losing the small grain recorded.
The market remained very
FIRM AND STRONG
until late in the session, when increased offer
iugs caused it to weaken, and pork at o'clock
was 216c lower than at the opening. Ribs
also took the back track, and lard dropped be-
low Yesterdays closing. The country is be-
lieved to be heavily long of the produce. At
the yards it was reported that the Chicago
Packing company were paying 81. 40 for fat
hogs to turn into pork wi b which to feed
their shorts Since the stocks were ma de
public, and especially since delivery day,
when it became apparent that Armour took
about 20 900 barrels of the property. the price
has been very buoyant. The fact, however.
that Armour paid for pork is no evidence
that he is bulling it. This is the time when he
takes the stock, and the bulk of IL Will be in
his possession from this on, whether he
is bulling or bearing the market. The close
for the day shows no material change from
yesterdays late quotations, the prices being
S1l. is for February, $l130 for March, S11.55
for May and SlI .621@ for June pork: $6.17h
for March. $6.2715 for May and S6.35 for June
lard, and SIS. 20 for March and $5.S2M for May
Sin pf1. ih