St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-03
PICKING UP A LITTLE
Although Surrounded by Oppressive In
fuences Wheat Manages to Advance
Few Pegs.
Hutchinson Failed to Break the Market
Though His Sales Were Large
and Numerous.
Minor Grains Dull and Quiet--Pork
Drops Down Another Notch
other Product steady.
A Lively Day in Wall street, the
stock List Closing at Top
Figures.
Chicago Grain and Provisions.

Special to the Globe.
CHICAGO, March 2.-The markets were
generally bearish to-day, and speculative
trading in grain was not Of large volume.
In the wheat pit the prevailing tone was
one of dullness in fact. and, barring occa-
sioual Spurts of activity, the business pass
ing was under an average volume, outside
orders being noticeabiy scarce. Room
traders managed to keep the ball in motion,
but in the absence of disturbing influences
the situation was comparatively tame, and
featurelesS. For some reason or other the
crowd has shown great indifference 10
pointers lately. Not even the crop ques-
ton seems to cut any figure yet nowlth-
standing the fact that in couple Of weeks
or 50 it will be too late in the season Tor
crop anecdotes from the southern portion OF
the winter wheat belt. Wheat opened at
Yesterdays closing fgures-S414c for May
and for the first two hours huctuated oe-
tween $3.50 mS4lsc. the downward move
ment being checked by the privilege traders.
Under the lead of Hutchinson the market
received a good deal of pounding,
Kent also beng credited with free sales
through his brokers. while Ream and Bliss
were quiet BUYERS, so it was said. The de-
crease reported in the visible supply was
not Tar from what had been counted upon,
and the bulls called attention to the fact
that iiye-eighthS of it took place at interior
points. ConsolS were two points OFF, but
that went for naught, and about the only
encouraging feature to holders was the
posted clearanceS at New" y Or5 yesterday
of 100, 600 bushels Of wheat and ISL, 600
bushels of corn. Toward noon the
MARKET CEEPT BACK
to opening prices on the reported taking of
fourteen boat-lOadS more. During the last
half hour OF the regular board there was a
stronger tone on the report by local news
bureau that change was likely TO occur in
the head of the imperial cabinet of Austria,
and that the prospects for war III the Bal
kanS were thereby increased. One o'clock
quotations stood at S49sc QSeller
Tor May, or I5c above the
lowest point OF the session. Winter
wheat markets were relatively stronger
than our own. Only moderate activity pre-
vailed on the late board. The fourteen
bOat-loads of wheat reported taken for eX-
port earlier grew to nineteen, together with
ten OF wheat on milling account equal to
232 600 bushels of wheat ana this gave to
the market additional strength. May
property touching Soc in the l, 900 buShel
crowd. The final closing was 1s(0 &c bet
Ter than at the early close, and about 12c
better than on Monday, the latest figures
being S01sc for March, S0$4c0S41sc for
May. SG1sc for June and SSc for August.
The demand for export to-day encourages
the belief that in the near future We will
lose all the wheat we can spare 10 English
buyers. As we nave said in recent letters,
the better European markets are the best of
evidence that the export engagements are
genuine, and that the wheat has not been
taken by manipulatorS in the market.
Corn presented a little more life, but only a
FAIR VOLUME OF BUSINESS
was transacted. Receipts were fair. Liv-
eIpool was steady, and New York rather
easier The weakness i'll wheat caused a
similar feeling in corn early, and May de-
clined 14c, but after wheat advanced. corn
followed, and regained the loss. last sales
being at the same prices as yesterday. May
sold at 395S@401Sc, and closed at 401sc,
and March at 364c. The shipping demand
was light. The stock of pork turns out a
tIiile less than was expected. 1t was esti-
mated that there would be 800, 900 barrels
of regular. The registrars figures showed
the stock to be Il, 600 barrels less, but the
price was weak all day. From $1,000 May
went to Sl0.35, without stop, and with
not much trading. The decline was enough
to make good bets, made less than four weeks
ago. that pork would drop 81 before it adj
yanced soc a barrel. There has been some
talk that the principals of Howe, who have
taken about 100. 900 barrels of pork, were
not Of a caliber to swing a great pork deal.
ON this point, one very prominent pork
man said:
No man would undertake transactions like
that unless there was great amount of money
back of the orders. Whoever Howe's men
are they've got no lack OF money; know that
The fact that they've got a loss of SOC a bar
rel in their deal at tins juncture cuts no
figure.
There was 4 subsequent reaction in SYM
pathy with the advance in wheat, hut the
close was 155@l0c under Mondays latest
quotation, with weak feeling predomin-
ant. Lard and ribs were steadier than
pork. and closed about unchanged, with a
fairly steady feeling existing.
PETER BERKEY gPres r. w ANDERSON Cashier