St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-05-22
WHEAT LOSES IT'S SNAP
The Chicago Market Starts Out Strong,
but Suffers Decline Before the
Day is Over.
That Prices are Low Enough, and the Sit
uation Will Improve, is the Gen
eral Impression.
Corn Breaks a Little, and Provisions
Remain Very Dull, With Prices
Unchanged.
gt.Paul Shares Lead Another Sharp
Advance in Stocks armour a
Heavy Buyer.
chicago Grain and provisions.

Chicago Ora in and Provisions.
special TO the Globe.
CHICAGO May 21.-'Prices have gotten
down low enough said S. W. Allerton.
Il don't think much of the men who never
see prices low enough to suit them. and
who all the time are trying TO talk down
railroads and wheat and pork, and every
thing else. The situation is improving.
Men have gone back to work, and there is
plenty OF work for them. These working
men were a little wild for a day or SO, but
there is not one man in 500 who is not
glad to work when he can, and who
does not know that he has got to
work hard to get along. In the excitement
everybody thought the situation twice as
bad as it really was. The fact Is that
everything is at rock bottom now. Build
ingS can even be put up cheaper than they
ever could before, Notwithstanding every
thing that is said to the contrary. L have
been building myself and know what L am
talking about. This is the time to buy-tor
the right kind of people to buy. One OF the
reasons is that there is still so much demon
slization. / bought real estate i'll 1878, and
people said l never could sell it, and was
crazy. L got 81 fol 81 for some OF 1t.
Wheat is cheap; so are
S1OChS AM I1AON AoAO~Nc'
l think there is going to be a turn for the
better"
Everything looks good deal better, :"
said P. ID. Armour. Il think we are
entering into a better era. The labor
troubles are practically over. When we
settle down to ten hours at the yards, they
will be. We are going to have big crops.
fair demand, peace among the railroads
and peace among men. 1t is not time for
anybody to short anything-least of all
ST. Paul stock" Wheat was worked up to
76%c for June this morning by widely
distributed buying. 1t started at 1865 @
761Sc, and acted strong for half
hour. Then it lost its snap and
the market became dull. 1t is
quite general impression that the wheat
situation is getting more healthful and that
no further decline is required to keep up
the present large movement. This morn
ings record of the charters shows that
room for $50. 900 bushels of wheat was con-
tracted for yesterday. About the charters
to-day there was wide difference of
opinion, but up to the regular close they
aggregated nearly $50, 600 bushels. II New
York had not been so weak on wheat the
price for June here would probably have
touched nc. But even when bulls were
enthusiastic here, at Gotham the
PRICE DID NOT BULGE.
This contrast was 100 much. and
when no fair export movement was re-
, ported from New York. the price broke.
June closed at 767sc at L o'clock, after be-
ing at 769l. Corn continued to show its
unattractive side, moving barely 3sc, and
not being subject to any noteworthy trad
ing. Provisions, in sharp contrast to yes
terday, were really dull, the pit being at
times almost deserted June opened at
$3.50, sold at SIS. 5211z, and down to S8.4719
and recovered to $3.50, closing easy. The
weakness noted in wheat at the mornings
close was continued IN the afternoon. and
prices broke go and closed at inside fig
ures. Corn broke 14@35c, but provisions
held steady. Puts on June wheat sold
this afternoon at 751ac, ''calls" on June
wheat sold at 7615c.
PETER BERKEY Pres. +. ". ANDERSON, Cashier.
j w. GRIGGs V. Fres. A. c. ANDERSON, Asst. c.
THE ST. PAUL NATIONAL BANK,
CAPITAL, 100000.
Coruer Fifth and Jackson streeta