St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-01
Brief but Comprehensive Resume of the
DOings of the Financial and Com
mercial World.
The Situation on Chicago Change About
as Bearish as 1t Was One
Week Ago.
Wheat Shows a Slight Decline, Corn
Betrays Weakness and ProVis-
Ions Are Slow.
Free Realizing Sales Serve TO Weaken
the Wall street Market, Clos
ing Lower.
Chicago Grain and provisions.


find them as obnoxious as the bull found
them distasteful q week ago. In ether
grains and provisions. however, the bear
still stands on his hind legs and growls.
The break in pork has been sudden, sharp,
and TO the average trader quite unexpected
But on the board it goes without saying
that it is the unexpected that always hap
pens. The seeker after light in this deal finds
little of satisfactory nature. He will be
told on one side that packers are selling, that
1.-THE country" is dropping load OF long
pork, back of which there is no margin,
and Oh another that packers are trying TO
work the market down without getting rld
of any more pork than possible, but that a
good deal OF the mysterious Howe pork
has come to light i'm the way of settlement.
and has made the market very heavy. This
was particularly true of Thursday, when
pork Shrunk some % per cent And at lao
time during the week have prices in May
pork averaged as nigh as they did week
ago on corresponding days. From the free
manner in which year pork was offered at
SOLO, and sold cash pork at 50, it would
appear that
THE ACTIVE OPTIONS
could not go in any direction except down.
ward. But there appears at the same time
TO be no end of confidence in hog product
Notwithstanding the decline. Country
orders, with tie possible exception of one
or two days. have been fully up TO the aver
age. The sales, except those forced by
packers, have been of property held by par
ties who were unfortunate i'll selecting the
wrong side of the market TO operate on.
Last Friday May closed at Sll.20. This
week il has sold as low as $1,000, a clear
drop of 60c per barrel, and only a
fraction of it has been recovered.
Yesterday the crowd discovered that
Howe was putting up" for all his last
purchases Of 100 900 barrels, and values
picked up a little. closing firm. 1t is notice
able that a good many Of the big traders in
wheat are rather leaning toward the bull
side. though they acknowledge seeing
nothing just now on which to base any
single or concerted effort to advance prices.
Their argument is that everything of re-
liable or even fallacious character, which
could be used by the bears TO make lower
prices. has already been made a factor to
the market. They have harped on big re-
ceipts, no export movement, an absence of
buying orders on investment account, peace
abroad, ETC., until at last they find them
selves running rather
SHORT OF AMMUNITION.
On the other hand, the bulls have dis
covered a few boat-lOads going out of New
\ Ork now and then, and have about con-
WINGED the country that the winter wheat
crop has not gone through trying winter,
and come out entirely unframed. Kansas
alone, it is officially reported. suffers dam
age of 40 per cent. The biggest bulge for
the bulls was an advance ON one day of
1%c. The close tonight was only sc
higher than the preceding Saturday. 1t is
said that Armour's name has been given up
on some good-siZed sales the last two days
and that toward the close of the week there
are those who think that the willy packer
has unloaded on them, and deserted sink
ing ship. Clearing weather also makes the
situation weaker and makes the
operators think of the time not far distant
when they will hear the 'robbin sing
egan." The much-talked-of New York
February corn corner failed to materialize.
at least so far as the Chicago end of it is
concerned. No one is making particular
effort to advance prices in this cereal. bows
and Norton orthngton appear interested
in it TO q Slight extent, but they are not
acting as they would il they carried all the
February corn around in their pockets.
Wheat started in weak this morning on dis
cOuraging cables and floor talk that the
visible would show decrease of only $780,
900 bushels this week. The Scalpers were
bearish in feeling, and began scalping
campaign. May opened at SAGE. sold a
split higher, and then declined, with
now and then rally to S4Ac.
HUTCHINSON SOLD ''PUTs"
yesterday afternoon to the tune of 500, 600
bushels and at the club last night he was
talking bearish. This morning he appeared
in the pit and seemed very anxious TO sell
in I,nI I,n
say that while he was selling 200, 600
bushels. his brokers were buying /, 600. 600
bushels on the other side of the pit. Why
all this diplomacy is not explained, as the
crowd seemed quite willing to selling
Gradually, however, the market hardened.
and it was discovered that quiet buying had
been going on on the decline. Prices adj
vanced &c, and the market remained
pegged at S415@S45Sc for the last hour and
a half, and closed there. Buying by shorts
was a conspicuous feature of the market. that
element manifesting nervous indispositlon
to go over Sunday with open trades. The
bull gueSSers put the decrease in the visible
at 700, 900 to 800, 900 bushels, but conserva-
tives put their estimates lower and say that
500,00 bushels will be nearer the mark.
The continued heavy receipts at Minneapo-
lis and the sudden shutting down of export
upset the calculations of the bulls, who had
been counting on 1000, 600 bushel de-
crease. The Minneapolis run is believed
to be very shOrt-lived, but the bulls dislike
to be obliged to do the explaining which the
eXigencieS of the occasion seem TO demand.
1t puts them at disadvantage.
LATEST QUOTATIONS
were about Ssc under yesterday at 791Sc
for February and March, S4115c for MAY and
S64c for June. Trading in corn was on a
very limited scale, and Quototions under
went no special change. The tone was
rather easier in consequence of the fiZZle of
the New York deal, but the reported ell
gagement of freight room on liberal plane
at that port proved a buoy to the market,
and the closing was nOticeably firm. Offer
ings were firm, but not more than buyers
were able TO provide for. May sold at
40H@404c, and closed at 40I@
40$sc, an sc advance over yesterday and
March 3624c. Shippers bought moderately
at slightly better prices. Everything in the
provision line excepting pork was neglected.
Business enough was done in that speciality,
however, To make make up for dull trade
in other articles. The market was very
nervous, aud the price of May fuctuated
between S10.75 and $10.95, the close being
at SlO.S715. The brokers, scalpers and
packers, who occasionally take Flyers. u
were restless and jumped in and out with
out very clear idea of the why's and
wherefores. That large amount of prop.
erty was picked up by somebody on the
break yesterday was admitted, but where il
went and what was to be the next move on
the checker board were something nobody
pretended to know. The feeling at the
close was one of firmneSs.
PETER BERKEY sPres. +. w ANDERSON, Cashier.
{. w. GRIGGs, V. Pres. A. G. ANDERSON Asst. c.