St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-20
RETURN OF ACTIVITY.
Chicago Markets characterized by In
creased Activity, With Some Ex-
element in Wheat
& Feeling of Extreme Nervousness and
Great Sensitiveness Without Ad-
equate Cause,
And General and sharp Decline in
Cereals. Which is Sympathized
in by Provisions.
Wall street Feeling Bullish Toward
ST. Paul. prospects of the
Reading scheme.
Cnicnco Grntn and Provisions.

Cnicago Grain and Provisions.
Special to the Clone.
CHICAGO, March 19.-The board mar
kets were characterized by moderate ac-
iyity to-day, and at at times considerable
excitement was witnessed in the wheat pit.
While there was nothing startling in the
way OF outside news the feeling was eX-
tremely nervous throughout, and the mar
ket in highly sensitive condition. Of
course this is not unusual for March, but
Just now the situation is regarded by con-
sentative dealers as peculiarly hazardous in
view Of the legitimate surroundings and
the possibilities. That this is the generally
accepted view is attested by the
strict watch that is kept by commission
houses upon the margins of their
customers. 1t was warm and sunny again
to-day. and when business opened there
appeared TO be considerable strength UNI
DERIVING the wheat market. the first sales
being made at fully up to Yesterdays clos
Ing figures. For a short time the crowd
appeared to want to buy, Hutchinson being
prominent As 4 buyer at the start, with
Brega a free seller. Quite a number of
country selling orders were executed,
also as
all over the West was fine and the crop
outlook and prospect of early spring eXcep-
tionally bright. The support given TO the
market. however, was OF a very Indifferent
character. and a weaker tone was developed
thar increased in intensity as the hours
passed. Winter wheat markets were re-
ported weaker, with New York said to be
unsettled and feveriSh. No clearings of
wheat were made there yesterday. the only
business worked being flour equal in
amount to 1000 barrels. There was
nothing encouraging III the ca
bleS. Spot wheat in Liverpool
being quoted slow. Nightingale'S cables
said: Indian and California wheat Is Cd
per quarter lower. with free offerings and
the weather warm and bright" In New
FORK 500, 900 in gold were taken for eX-
port, making -. 200, coo so tar this week.
Receipts We're larger at all points except
Minneapolis than on Friday of last week.
After opening at S45sc for May the market
weakened. but for Il time ruled steady at
around 81 s G1S4l &c. Later, free Specula-
tive offerings and the selling Of a good many
small lots OF
LONG COUNTRY WHEAT
had q very depressing effect. The bears
gained control once more, and they ham
mered the market down Is from the high
est point, OF to So &c for May and size
for June. There was only slight reac-
ton up TO the l o'clock close. Corn was
unsettled and lower. The trade was in
May. the opening for which was 39Hc.
The market advanced sc, but subsequently
broke to 3S@5c, with some unrepOrted sales
at 3Sj5@3S25c. The crowd seemed quite
bearish, and bore prices down
with very little outside assist
ance. The close was at the
lowest point of the morning. Oats ruled
4 C lower, with some little trading, but
nothing sensational developed in this cereal.
Provisions shared the general weakness that
pervaded the grain markets. The opening
was strong. Pork opened sc higher than
yesterdays closing, but lot Of long prop
erty poured into the pit in big lots. May
pork was strong for a minute or two at
1896 and June at SO, but before II O'clock
May was down TO S9.65 and June down to
1919, with large quantities offered at these
figures. Later there was
SLIGHT RECOVERY
in the May option. Lard was quiet and
only shade lower. but ribs took the back
track with the leader, pork selling down sc.
The buyers OF the product for the last
week were sellers to-day, a fact which may
have depressed the market. The provision
bears are talking SO for pork, and one of
the most OutspOken OF this number said to-
day that before the year was over 100, coo
barrels of the pork now in stock would go
into ribs. Packers and shippers are eX-
periencing q season Of Lenten quiet in the
cash trade. but that is something they look
for, and they are not disappointed.
2:30 p. m.-There was heavy break in
NTrl,a of of,
even cent from the 1 o'clock closing. The
unloading of large lines of long wheat by
local houses and general desire to sell We're
that caused the slump. Heavy selling in
New \ DIRK was also reported with the stu
alton there said to be panicky. Corn and
oats were &c OFF and provisions easier.
CHANGE CHATTER.
The chief OF the best crop bureau of the
West reports that a considerable proportion
OF the early sown was killed by the December
and January freezes. The weather for the
past month has been phenomenal for the
progress OF wheat, however, and accidents
barred the average yield will be unusually
high. From every direction he hears very
little excepting good reports.
Barnes OF the Northern Pacific elevator
system is of the op Mon that little if any
Of the Duluth wheat will be ground in
Minneapolis. he said that the millers held
considerable wheat there as a reserve, but he
thinks they will be able to get along with
out it.
The largest selling Of wheat to-day was for
Tor W. /. Baker Il Co., and was set down as
long wheat sacrificed by some tired-out bull,
vino gave up hope at this late day.
Norton WOrthington's advices were that
Henry Clews was very heavy seller of
wheat at New York.
Orr, Crittenden & Comes were large buyers
OF wheat against spread at Duluth.
'Theisdecliue,' said Hiram Wheeler, "has
just begun"
Cudahy and Jones were both large sellers
of pork.
Puts on May wheat were Size bid, calls
$3.50.
Robert Warner sold %, 600 barrels of pork.
PETER BERKEY. Pres r. W. ANDERSON Cashier
C. w. GRIGGs, V. Pres. a. C. ANDERSON, Asst c.
THE ST. PAUL NATIONAL BANK,