St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-19
SELLING THEIR CORN.
The New York Clique Believed to Have
Realized on Some of Their
Holdings.
Wheat Displayed Considerable Activity,
But Later Became Dull and Quiet,
Closing Unchanged.
Nothing Doing in Provisions, With
Trading Very Light--Oats Dull
and Inactive.
stocks in New York Greatly Weak
ened by the Disruption of the
Transcontinental Pool.
Chicago Grain and Provisions.


Special to the Globe.
CHICAGO, Feb. 1S.-Cables were con-
hicting to-day. Bull houses and bear houses
alike found comfort in the intelligence liIeY
received from abroad relating to that all
important questionable price OF wheat
present and prospective. 1t was noticed
that in a great majority of cases where the
market news stopped in New York to rest
it took on a bearish tinge, and by the time
it reached here it had the same old leaden
hue. Nobody wanted our wheat except in
very limited quantities and at very much
reduced prces. There was no future for
il. and the heavens were draped in black.
All who bought wheat were warned to
leave hope behind them. On the
other hand several cables were re-
ceived direct of much less
discouraging character, and New York eX-
porters who have been bearish up to this
time had buying orders on the floor of con-
siderable magnitude. The cables last re-
ferred to did not hold out the hope That
prices would advance, but a rather better
feeling was reported and more disposition
on the part of buyers to meet the views of
holders. In fiat contradiction was a cable
that California wheat was being offered in
Liverpool for August delivery at 97c, C. ]. f.
Locally the wheat market to-day may be
described as dull and firm. Fluctuations in
prices were within range of less than nc
on the morning session. The principal
ELEMENT OF STRENGTH
was the clearing of about 200, 900 bushels
of wheat from the Atlantic ports, and ap-
parently reliable reports that more was go
ing ont to- morrow Crop damage news was
conflicting, and not sufficiently decisive to
constitute a factor in the market either
way The priyate-wiTe houses were the
heaviest sellers, but the crowd took the
wheat that was offered for sale, not per-
haps with the avidity appertaining to
hungry stomach and a robust appetite, but
it took the property and stood up seemingly
willing and prepared to take more. The
closing at / o'clock and the opening were
very close together. On the late board
sellers were very aggressive, and the
market sold off &c, closing easier at
791sc for February, 1890 for March,
sake for May, and S64c for June.
Corn was bulled early this morning by the
shorts. May sold up to 41$4c. From that
figure it dropped quickly to to 414c, and
then it was said, and quite evident, too,
that the David Bows clique at New York,
who had been the buyers here. were letting
a much sharper break at New York than
here showing that the clique there were
easing up matters too. The tension has been
pretty severe for the last fOrty-eight hours,
and as the deal is supposed to eliminate in
New York in February, it is natural enough
that the price should be let up somewhat to
stop the receipts. 1t is said
HUTCHINSON AND JOHN TEUFEL
who were long ZOO, 900 bushels of corn,
between them sold out to the syndicate yes
terday. A great deal of other long corn
was sold then, so that whatever long inter
est exists here now is centralized pretty
well in Bows, Mum IL Co. s office. The
deal is not regarded with much favor by
the experts. The November deal was
failure and it is predicted with so much
corn in sight and ready to move that it is
likely to 90 the same way. DOws. however, is
managing this transaction, and that gives it
a good deal better show than the Novem-
Der manipuiators ever had. The close to-
night was quiet at 36Nc for
February, SIC for March, 4l4c for
May and 411sc for June. In provisions,
while the price was steady, there was no
life. and this was disappointing. 1t is not
unlikely that because of lack of specula-
ton the market will be allowed to run off
suddenly, OF else advance suddenly. Some
thing will unquestionably be done to timber
up the trading, for with it so dull, and with
so few interested in the course of the
market, the big traders with designs to
carry out can do nothing. Mess pork for
May sold at S11.17I@1L22H and closed
at S11.2215, March closed at S11.05, April
at $11.1215, and June at $11.30. Lard
closed at S6.0719 for March, $6.1219 for
April, and $500 for May. Short ribs
closed at $685. for March, $5.57% for
April, and So. 6215 for May.
PETER BERKEY. sPres. i. w. ANDERSON, Cashier.
c. w. GRIGGs, V. Pres. A. c. ANDERSON, Asst. G.
THE ST. PAUL NATIONAL BANK,
CAPITAL. S5OO,OOO..