St. Paul daily globe., 1886-04-30
A Somewhat Better Feeling Shown in the
Speculative Pits, But Nothing
Like Boom.
steadier Gables and Heavy Shipments of
Wheat Responsible for the Stifen-
ing of Prices.
Provisions Were Active Within a
Narrow Range, Closing Lower
--Corn and Oats.
A General Break All Around in the
Stock Market, Caused by
Bear Raid.
Grain and Provisions.

Special to the Globe.
CHICAGO, April 29,-Market cables were
steady to-day and New Y York was strong on
reported new export business. The mar
ket here opened higher and buoyant on
yesterday afternoons lake engagements OF
wheat the lighter receipts at primary
Western points and signs of outside revival
outside confidence. There was nothing in
the nature of tidal wave, but rather OF
the early stages of recovery from severe
sickness. Reports We're also atioat that
forty-two boat loads had been taken at New
York last evening. This like many other
reports that have been sent out from New
York lately proved TO be incorrect,
and if it was started TO stitfen the
market it was boomerang, Tor
the slight advance scored during the first
hour or two of trading was not maintained.
The May deal is tapering off with 10 little
abuptneSs. Considerable business in that
nearby option passed to-day and further
liquidation was witnessed but the trade
was nothing to what it has been for the
past ten days. As a matter of fact trading
in other futures was not excessively heavy.
May sold up to 1890, and June to S05c,
an advance of &c from yesterday, and after
holding steady at very nearly the best
prices of the day for quite while, the
market eaSed off under free offerings and
declined to
POINT BELOW THE RANGE
ruling at the close of business yesterday.
st. Louis poured in an unceasing stream
of dispatches relating to the glorious crop
prospects of the Southwest, but the under
lying secret of the weakness was on all per-
vading fear that the Labor agitation would
grow to such proportions after May 1, as to
paralyZe the business interests of the coun-
try. This uncertainty unqueStiOnably
tends TO decentralization in lines of business
likely 10 be first affected by interrupted
transportation. Arguments are not nee
esSary to emphasize the points of this
phase of the situation and the bears are dis
posed to let the facts speak for
themselves and not harp on the dam
gers that confront certain industrial
interests. The report that lake charters for
160, 600 bushels more wheat had been taken
i'll addition to yesterdays engagement,
braced gp the market slightly, but the drift
was downward, and these tidings only
served to check the current, not to stop it,
and opening figures were very nearly the
lowest Of the morning. The irrepreSsible
Nightingale telegraphed that a further drop
of 4c would be necessary before the export
movement
WOULD AMOUNT TO ANYTHING,
but this song has been heard of so often
from the same source that the statements,
whether correct or otherwise, only excite
smile. Deliveries of wheat will probably
be large, and the belief prevails that it will
go into strong hands. A majority of the
elevator companies have been bending their
energies to getting the receipts placed with
individuals and firms friendly to their in
Ar,. ~,
object to investors to agree to hold the
property just beyond the reach of shippers.
AT least three concerns have offered to
guarantee the receipts, being satisfied that
the condition of the wheat will warrant
them i'll carrying it through another season
without risk. They want to collect all the
storage on present stocks possible not feel
ing at all certain that they can fill the bins
again. The bird in the hand is worth
Whole flock in the bush. Changing over"
continues to be
THE PRINCIPAL FEATURE
OF the corn deal through to-day witnessed
some covering of shorts. Values were some
what tirmer and higher quotations resulted.
Trade was fairly active. Oats slow and
easier. Provisions were nervous but prices
underwent only minute fluctuations. Trade
was light and confined to Changing over"
1ne operators are awaiting Developments
Unusually heavy deliveries Of pork and lard
are anticipated and it is the general be-
lief that after this week the hog product
i'll this city will be even more concentrated
than it is now. Changes in quotations to-
day are in1initessimal. Wheat was higher
Oh the afternoon board. The close was &c
above the O'Clock quotations. The latest
was that the lake charters OF wheat for the
day aggregated 36S, 600 bushels, and to this
was due the late strength. Corn and pro-
visions easier.
CHANGE CHATTER.
Large purchases by Crittenden and Cowes
and some buying by StIuffer, were the fea-
lures to the wheat trading of the day. As
the former was the buyer when Kent was the
seller, tho purchases aro supposed to be for
him, and Stautfer's was believed to be either
Tor Cudahy or Ream.
Crop advicess were inclined to be bearish.
George Watkins of Kansas City wired BILLY
McHenry that prospects in Missouri were
never better for large, fine crop, and that
from present appearances Kansas would yield
from 2O,OOO,OO0 to 25,000,000 bushels
Puts" on June wheat sold this afternoon
at 1954c; "calls" on May wheat sold at SO1Sc
PETER BERKEY, Pres. r. w. ANDERSON Cashier
CIV. GRIGGS, V. Pres. A. c. ANDERSON, Asst C.
THE ST. PAUL NATIONAL BANK.
CAPITAL, S500,OOO.
Fifth and jackson straat,