St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-05-11

has ever happened to help prices. There
have been disasters, but of Il kind to break,
not bull, wheat. There have been failures
there have been strikes, there have been riots
but there have been no great wars; no crop
failures. Holders of wheat, growers of
wheat. bull spectators, manufacturers OF
Hour. have been living along expecting that
homething would happen. disaster or wal,
or something else, to vary the monotony of
their losses. 1t begins to look as if nobody
in the trade had enough money to bet this
sequence through. Doubling up, in the
hope
OF WINNING OUT,
long ago broke everybody who tried it. 1t
looks again as if there was nothing left in
the wheat pit to fight over except the ,
cents per month carrying charges, and it
looks, too. as if the short sellers were to
pocket this for the next month or two, as
they did all last winter. Since May wheat
was at 7615c and cash at under 75c there
has been no adequate movement Of
the grain. The sailing of the Chi
cago fleet. and large exports for one week
made the bull spectators so eXultant that
the price was at once moved out of reach
and the movement abroad checked. Tactics
at Chicago for another thirty days such as
have been in vogue the last fortnight, and
which put exporting out of the question,
will make the situation on this side so des-
perate that tactics of any kind will not
avail anything. a steady market at 75c
would have cleaned out
SOME OF TIE BINS
but crazy spectators and rotten system
q Immediately advanced the price and that
killed the trade. This morning wheat
opened weak and lower, and the volume OF
business transacted during the day was
only moderate and mainly of a local scalp
ing nature, there being very little done in
the way of filing orders from the outside
Large stocks and encouraging crop reports
made sellers more numerous than
buyers. Prices closed at the inside figures
of the day, and show drop of lie on
the closing at 1 o'clock on Saturday
June opened at rs cents. and sales were at
and between 7755@7S1sc. closing at 775sc
July closed at T914c, August at S014c, Sep
TENDER at 81 &c, and October at SIC. Corn
was moderately active and rather weak at
the opening, but as the receipts were only
seventy-SiX cars. and there was withdrawn
from store 2S3, 600 bushels. shorts became
nervous. The bulk of the trading was in
July, which advanced
UNDER FAIR BUYING
from $3.50 to 36Mc. and closed at 365sc.
May was weak, with prospects of free de-
liveries, and declined from 343sc to 341S@
3414c; later it became stronger and closed
at SAGE. The shipping demand was fair
and vessel room for 161, 900 bus was taken.
Last sales were about the same as Satur-
day. Oats were quiet, with weak start
and a rather firm close; June sold at 2SL
@2S}Sc, closing at 2S3sc; July closed at
273Sc. Rye was moderately active, and
steady. Barley was quiet, but a
shade tirmer. Provisions were fairly ac-
tive, but prices were weaker and lower in
sympathy with wheat and on account of
large receipts of hogs. Mess pork dropped
1Gc. and lard and short ribs 215(05c. Mess
pork for June opened at $S.6715, and sales
were at SS.60@S.6715. closing at SS.67L:
July closed at SS.7715. Lard for June
opened at S5.S211, sold up to So. SIS and
elosed at $3.50. Short ribs tor June sold
at S5.20@5.25, with S4.20 the first and last
quotation.
PETER BERKEY. Pres. r. W. ANDERSON, Cashier.
w GRIGGs, V. Pres. A. c. ANDERSON, Asst C.
THE ST. PAUL NATIONAL BANK,
CApITAT. GS00