St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-22
A SCRAMBLE FOR CORN.
Everybody Of the Opinion it is the Proper
Thing to Buy That Cereal
to Hold.
The Rush to Buy and More Reports Of
Crop Damage Cause an Advance
of 2 Cents.
Wheat Let Severely Alone by Specu-
Iators and the Market
Featureless.
A Bitter Feeling in Wall Street ano
the General List Closed at Top
Figures of the Day.
Chicago Grain and Provisions.


Special to the Globe.
CHICAGO. July 21-s'Traders in wheat,
said an operator to-day, ''are devoting their
most active energies to finding out what the
other fellow is doing, but they are meeting
with very Indifferent success, and the erect
comes back in the market to t1atten 1t out,
and make it a very slow deal" This, IN 1act,
is about all there is to the deal. AT best
wheat is losing some of Its best ola tlne
friends by the unattratlve front IL presents
from speculative standpoint, ana corn ID
gaining friends us speculative artlcie.
dn,inr tho mast week when the
corn pit has been daily filled to overhoWlng.
OF course the absence OF dozen or SO men
from the wheat pit may be noticed there,
except as it tends to produce less active
market. while the corn crowd, being naturally
smaller Quickly shows any decided additions.
The latter cereal came pretty near booming
again to-day. and throughout the session was
firm and strong. Traders are very reauy 10
believe any reports OF damage 10 corn, alu
when receipts drop down little as they DID
to-day, only 277 cars being inspected, every
body wants some. Buying all day was ac-
tive and the local friends OF corn seemed TO
have no difficulty in inducing country traders
to believe that little corn was
good thing to have. While September opened
steady al 397Sc, it took but short time to
run the price up to 412sc, around which
price the demand for it seemed just ABOUT as
brisk as at a lower figure.
IHE MARKET HAD ITS REACTIONS,
but they were fractional, and cut but little
hgure. The close at l o'clock was firm and
steady Oats sympathzed with corn. and
made a steady advance. September opened
at 29slc. and before the close freely sold at
sOsIc. Wheat showed very much the same
lteady, monotonous, featureless grind as for
ieveral days past, not succeeding up
10 half an hour before the close in
Eetting over quotations, nor at any time
ranging so far below them as to induce be-
lief that the market was any nearer breaking
MAN it has been before. August opened nc
lower than it closed at 7S14c, gradually de-
eltned to 775Ac, and recovered to 7S4c. Those
hgures show the movement and fairly repre-
sent the extent of trading in wheat; nothing
Indicates the presence Of any strained condi-
lions. 1t is a market that no far-seeing trader
Ashorts' to any great extent, nor loads up IN
The morning with any idea Of carrying the
stuff home with him. There is apparent
the same nervousness on the part OF shorts
mat always exists, and they cover on
the slightest symptom of strength. Outside
prices held up and the close was firm. Pro
visions were easier, September pork at one
time being 271ac lower than the close yester-
Day, but later it lessened the distance by
I23ac. The general tone was easy and the
final close barely steady.
PETER BERKEY Pres. +. W. ANDERSON, Cashier.
J.W. GRIGGs, V. fres. A. C. ANDERSON, Asst G.
THE ST. PAUL NATIONAL BANK,
CAPITAL, 100000.
Corner Fifth and Jackson streetA