St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-04-03
A TINY SPECK OF WAR.
Cables Indicating Possible War Among
Various Small European Powers
Strengthen the Market,
And Wheat Rules Moderately Strong all
Day, but Settles Below Thursday
at the Close.
Corn and Oats Follow About the Same
Course, and Provisions Close
stronger.
Free Selling OF st. Paul and North
western on Wall Street Because
of Rate Cutting.
Chicago Grain and Provisions.

Chicago Grain and Provisions.
Special 10 the Globe.
CHICAGO, April 2.-Wheat opened strong
this morning at prices ranging &c better
than those ruling at the close of regular
trading yesterday. The Mackay press
cables were exceedingly warlike, and
hostilities between about all the minor
powers of Europe were apparently in
evitable This was in itself enough to put
prices up, but with a cold wave added the
crowd went into the pit feeling bullish.
Trading in May began on a basis of S1%c,
and sc better was paid fer quantity.
That was the top, and the market gave
way, settling slowly and stubbomly all
morning. A stand was made at
S15sc, and several times the
room traders endeavored TO push
the price higher but without avail. The
heavy professionals, who are largely short,
''Stood pat" and they may possibly have
extended their lines somewhat. Certainly
they were not frightened into buying.
Market cables were conflicting. A majority
were bearish in sentiment, but Dun'S adj
vices were the other way. The board
cables as usual said nothing. Commission
men are getting good deal of information
about crops these days from their country
correspondents. The closing on wheat at
l O'clock was Size for May, sage for
June, and S4s4c for August. Corn was
firm but not active during the greater part
of the forenoon, but later trades were
made on the basis OF very slightly
diminished values. The weakness was
generally attributed to the late weakness
in wheat. Nothing new developed in the
situation to-day. Oats were higher early,
but prices subsequently receded to the
standard that prevailed at the close of bust
ness yesterday. The statement of pro-
vision stocks which was posted to-day. was
not a surprise to anybody. The stocks
were about what had been expected by the
trade, and there was scarcely ripple in the
market traceable to the showing made.
Pork opened at re higher, and ribs and
lard 215c higher than they closed the pre-
ceding day. and the market held firm for
quite a while, but under free offerings
softened and the improvement was entirely
lost. Trade was light in volume. Wheat
declined 10 the put price, Sic for May on
the afternoon board. 1t sold fractionally
lower, but closed at the figure named.
Foreign war news ceased to be effective,
and strike news took its place as weapon
on the other side, There was no special
change in corn. Pork was higher. Pro-
visions were otherwise unchanged.
CHANGE CHATTER.
1t is now generally known that the McCor-
mick Reaper company, which has good facil-
tiles and which takes great pains to get at the
facts relating to the growing crops, has made
up its summary of the winter wheat. Its re-
ports are gathered from its thousands of
agents for the purpose of guiding it in the
manufacture of its machines and in the
guidance of its credit department, Its sum-
mary is that the condition of winter wheat is
80 per cent OF an average now against con-
dition of So per cent. Of an average last year
at this time.
The provision inspectors report for March
ghaws slightly smaller stock of regular pork
than was expected. He figures the stock at
2.206 barrels regular and 1921 barrels of
other kinds. The stock of contract lard is
102, 453 tierces, and 1888 tierces of other
kinds. There are 81, 412, 024 pounds of short
ribs and over 100000 pounds of other ribs.
The stocks except of hams, are still heavier
than in 1885. and much heavier than for 1884.
Puts on May wheat sold at S05sc and calls
at Sl14@S1&sc.
Counselman and Kennett were heavy sellers
of wheat to-day,
Robert Warren sold corn in so, 900 bushel
lots.
PETER BERKEY, Pres. +. W. ANDERSON, Cashier.
CIV. GRlGGS, V. Pres. a. c. ANDERSON, Asst. G.
THE ST. PAUL NATIONAL BANK,
CAPITAL, 100000.
Ioo5