St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-04
"A SUCKER BOOM"
Irregular, Fluctuating Markets the Rule
Yesterday, at the Leading
Centers.
Armours Wheat Export Deal Attracting
the Attention of the Grain
Men.
Provisions a Shade Lower--Corn ana
the smaller Cereals Quiet
but steady.
stocks Active--The Coalers stronger
and HiGher--Money In Coca
Demand.
chicago Grain and Provisions.

Special TO the Globe.
CHICAGO. March May wheat and MAY
pork occupied the undivided attention OF Tue
traders on Change to-day. "The crowd was
bearish ON both. A decrease OF ABOUT l'OoO'-
600 of wheat imported into the United KING
dom and the continent, and the reported pur-
chases bv New York exporters of twenty boat
loads or such matter, were the principal
buu weapons. kilograms of the seaboard with
regard TO this export business were conflict
ing One set of correspondents wired THAT II
was all rubbish, and that IL was 'ooughI
for export one day and was sold out the next.
Another set of correspondents were satlsleu
that the movement was genuine, ana "llhaui
Young telegraphed that he had sold seNeral
boat loads for llde per bushel more than no
had been able 10 obtain yesterday. one lrate
exporter wired his Chicago correspondent
that this is "a sucker boom. The Armour
people were talking bullish, put there was a
suspicion abroad that the selling was parity
ON their account on the other hand, qultea
large nupioer of operators In the provision
nil think "the country is doing the selling.
one of the brightest observers In the trade
said to-day:
The country made money on the advance,
and for once il took its profits and went the
other way when the market got top heavy.
The professionals have got the worst OF IL
both ways up to the present time.
Another broker, specializing on the attitude
OF Armour tOMdTu piONlSlOhs, SeAN'
1T Is NONSENSE
10 talk about Armour being a bear on provis-
ions for any length of time. sHe may not at
tempt to run n deal this year, and probably
will keep out of the speculative markers as
much as possible, but ii the country or the
provision crowd bears the price OF product to
n DOiut whcrei il becomes Improbable Tor hlm
to distribute the actual property land
he distributes more than 80 per cent. OF
the production of the Chicago houses he viii
rally to his own protection. He THINKS ne
ought to be consulted about the sale OF his
own pork and meats as much as aboul MS
bonds or his house, aud when the SPECTATORS
get reckless and depreciate values he is inter-
ested in sustaining, he will be heard from.
II may be set down as dead certainty thaI
Armour is not doing business Tor the run
there is in it, and he will not supply meat 10
the world at a loss unless it be to buy twice
as much at cheaper figures, and put the
prices up later.
There was fairly active speculative bust
ness in wheat and mess pork to-day, but
PRICES were unsettled and uncertain, and
closed at the inside figures Of the day. Other
cereals were quiet without material change
in values. Wheat was tolerably active, but
unsettled and irregular, and closed almost at
the inside price of the day, but 1sD14c higher
than at i O'Clock yesterday. Trading was
local and mainly of a scalping nature. Re-
ports of an export movement in New York.
stronger cables and large decrease in i'm
ports into the United Kingdom gave the bulls
courage, but in the closing part OF the ses-
sion reports of
A LARGE FAILURE
in Boston made bears the controllers. The
receipts at eleven points to-day were 254, 900
bushels and the shipments $4,000 bushels.
No. 2 for May opened at S47sc, and during
the session sold at and between S4s4(Ge519c,
closing at S47a@S5c. March sold at 1890
5000, closing at SOC. June opened at $500
"a closing
August sold at SSc, and sales were at S7s4O
$500, closing at S77s@SSc. Corn was dull
and unsettled and advanced trife only,
but weakened under better oner-
ings and all the gains disappeared,
the last sales at l o'clock being at the
same figures as yesterday. Receipts were
good and percentage of contract grades fair.
Liverpool and New York were quiet and
steady. Shorts do not appear to be anxious
to cover on rallies, and long buying is not
large enough to sustain any material adj
vance. May opened at 40c, sold to 1910
40sSc, weakened, and closed at 401sc asked.
March sold at 36sz0271sc, and closed at 1873
@37c an &c advance over yesterday. Pro
visions were pretty active, but the move
ment was on local speculative account,
and prices were unsettled and irregular for
mess pork, closing l5@1719c lower than at 1
O'Clock yesterday. May opened at SIT. 57%,
and the range was $l0.300lO.571a, closing at
$40. 50. March closed at SlO.l7%, April at
SlO.~o ana june Ut vlo' AZ Lulu was stS"uy'
and for May sold at S5971@@6. with So the
opening and S5.97R the closing. March
closed at $55715, April at $685. and June at
$6.O5. Short ribs were 21@@5c lower. May
opened at $5.42h and the range was $3.50
5.45, closing mt $5.2715. March closed at $3.50,
April at So. S21a and June at $40.
PETER BERKEY ,EPres. f. w. ANDERSON, Cashier.
Z. W. GmGGs V. Pres A. c. ANDERSON, Asst. Q.
THE ST. PAUL NATIONAL BANK,
CAPITAL 100000.
INifLl, md Inczsnn straat.