St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-16
THE DOWNWARD TRACK
After a BuOyant Opening and Consider
able Activity There Was a Weak
ening All Around
IND Under the Lead Of Pork Everything
On the List Sold Down Point
or Two.
ADay OF Little Surprises and Heavier
Trading Than Usual From
the Outside.
Vail street Takes a Tilt at ST. Paul,
Duluth Advances Four Points
Chatter.
Chicago Grain and Provisions.

Chicago Grain and Provisions.
pecial to the Globe.
CHIcAGo. March 15.-The leading spec
llative markets ware all bristling with ac-
iyity this morning, and wheat was very
,uoyant at the opening, starting sales for
uture delivery being at full half-cent
Ibove Saturdays closing price; then under
he lead of noiL. everything III the list
.ook the downward track. and the general
sreak that followed caused the most intense
excitement for a time. Pork slid down Soc
barrel so easily that il fairly took the
breath away from the bulls, and before II
1clock the May option touched 1910.
LOIS Of 10000 barrels were freely offered
~ a prominent trader at 1918, but buyers
aid not appear in large numbers on those
;erms. The day was fuu of surprises 10
everybody and the markets were al nervous
md excited. Speculative trading in the
.ggregate reached a larger amount for
.ong time past. Both Liverpool aud Lon
don cables came in very strong this morn-
mg. with wheat reported turn dearer IN
al positions and California sorts reported
81 higher. Private cables were conhrma-
tory of the improved condition OF affairs
abroad, and on this news the market here
went up aJ the opening OF business like
Eats back. May property quickly sold to
s6Izc. and considerable long wheat came
ont at over SIC. The close OF business last
SATURDAY. doubtless found the local crowd
pretty well loaded up. Trading at S6Ac
vas light, however, and at that point there
was
A SUDDEN REACTION
hat carried prices down TO S5Ac, without
icarcey a stop. The principal cause of the
,g1nt L ssN IN
visions. In addition TO this the New \ ork
market was of nearly &c, export clearings
were lighter than expected, and the esti-
mated decrease in the visible supply during
the past week proved SMALLER than was gen
orally expected. Lindblom figured the de-
crease at 400 00O bushels and Others
guessed it as low as 800, 600. II had been
generally thought that New York alone
would show u decrease III stocks Of 400. 900
bushels. There was but g feeble reaction
during the latter part OF the morning SEES
sion, and at l O'clock S53sc was bid, or &c
under Saturdays closing figures. There
was fair run of outside buying orders
early, and Wall street sold considerable
wheat here, it was said. through their Chi
cago representatives. Lester, Eyeringham
and the Eldredge crowd were free buyers,
with Cudahy, Kent, traley and Hobbs
named as among the largest sellers. The
general feeling Of weakness to-day was in
tensitied by the decline in st. Paul stocks.
Some were disposed to regard
THE RosE-CoLoRED CABLES,
that we have been getting of late, with
suspicion. and openly assert that they look
as though they were being galvanized.
Corn broke 1zc in sympathy with wheat
and provisions, and under the hammerng
of one or two local houses, Fraley- Garter
being prominent and heavy sellers. May
sold OFF 10 39c by o'clock. Trading was
larger than for some time past. Oats were
also more active, but lower, closing &c OFF
at l o'clock. There was an active trade in
provisions. wholly on speculative account,
and prices were weak, prices falling Off soc
per barrel from Saturdays prices, lard &c
per 100 pounds and ribs 15c per 100 pounds,
and. while there was some reaction, the
falling was rather heavy. Large lines Of
pork was offered by prominent houses
known to be long. and it was rumOred that
a syndicate was letting go. This latter,
however. was not verified up TO the close of
the morning session. 1t is estimated that
at least IS, O00 barrels pork changed hands,
Lard was least week, though offered freely,
while ribs were hard to sell. Receipts of
hogs were up to expectation and prices were
Il nickel lower. On the afternoon board
there was moderate amount OF activity in
wheat, with the bears the strongest men in
The pit. BY vigorous hammering May
wheat was crowded down TO S4E@S5c,
closing at S5c, May corn was az lower.
and oats were shade easier. Pork lost sc
per barrel, lard was steady and ribs trifie
lower.
CHATTER OF THE BOARD.
yuuc q st mi Hur he,
morning session that tho Howe combination
was busted and unloading its enormous hold
ing, but tAis could not be traced TO any relis-
bic source and failed to receive much
cretencs. The generally accepted theory
was that II was being pounded py or IN the
interest o. Armour, who on lower market
would p" enabled TO work down his average,
ana o 20. iO1sed down with cheap pork would
Ju!. 81 ~ Ill there was in it.
Tie PRINCIPAL pGIuts showing an increase in
stock OF wheat during the past week were:
Milwaukee 2B,yG0 bushels, Detroit 81 900
bushels, Duluth 10000 bushels, 81. Paul and
Minneapolis 1000 bushels, Baltimore 49,
000 bushels. TRs points Of decrease were:
New York $4,000 bushels, St. Louis So, coo
bushes, Philadelphia 1900 bushels Buffalo
1872 coo bushels.
Puts on May wheat seld in the afternoon at
s&14s4:ac, and S514c was bid for calls.
Based on Saturdays latest bid prices, there
was al actual decline during the regular ses-
sion Of tia board to-day of 20 in wheat, corn
and oats, axe in mess pork, &c in lard, and
121lc in short rlN7.
You can WAGON all you've got" remarked
well-postcd 0n""ator In the provision pit to-
day, "tb&t the DulE Of the immense quantity
OF pork that bGs been sold to-day, has been
for the benefit Of ..rInour, and that he is go
ing 10 make money by it,"
Wall street was 3 big seller Of wheat until
about neon through Counselman, Sherman
and others. Fr0ley Carter, Hobbs and Bros
seau were heavy sellers around S5Mc.
Lester, Eldridge d. Everingham tried to
stop the break in wheat but Intellectually.
George Baldwin sold 5000 barrels of pork
to Robert Warren at 50. rs
PETER BERKEY, iPres. Il. W. ANDERSON, Cashier
CIV. GkIGGs, V. Pres A. Q. ANDERSON, Asst c.
THE ST. PAUL NATIONAL BANK,
CAPITAL. $4,000