St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-17
MUDDLED OVER PORK.
No Reason to Believe That There is Any
Deal in This Speculative
Article.
The Wheat Market Continues Without
Exciting Feature, but Prices
Keep Up.
A Sharp Demand for Corn Sends up
Prices at the CIose--Nothtng
Doing in Oats.
Stocks Firm up Considerably. With
the Erie Securities Leading
All the Others.
Chicago Grain and Provisions.

Chicago Grain ana FroFisiohs'
gpecial to the Globe.
CHICAGO. Feb. 16.-The markets were
lazy to-day. Wheat opened where it left
off the day before, but it didn't stay there
long. May declined from SAGE to S314c,
with good trading around SAC. The market
reacted 10 sake and listlessly dropped back
70 83Ac but just before the noon hour
yellow-tissue bulletin about the discovery
Of a plot to depose King Milan started the
scalping crowd to buying and in less than
fifteen minutes the loss Of the entire morn
Ing was recovered. What the cold wave,
scattering country riders, decrease in the
visible fully up to the bull expectations, and
an underlying bull sentiment could not do,
this inconsequential gust Of gossip brought
about in an aStOnishlngly short space OF time.
The first excitement Of the bulge having
subsidized, fractions began to drop OFF again,
bat before the market had receded far
BOWS, Mum g. Co. came On the scene
with a buying order for 500, 900 or 400, 900
bushels, and this set everybody to buying
again The closing at l o'clock was at the
highest point of the morning, but on the
late board there was considerable activity
and further slight decline, the close being
at 782[c for February, 79c for March, &c
for May and 8559c for June. Among the
stories on the floor to-day was one to the
effect that the big professionals had been
bearing the market for ten days to frighten
in some parties VINO were
LONG A CONSIDERABLE QUANTITY,
but that. failing in the endeavor, they had
shifted and were getting ready TO work the
other side. Nobody could be found who
was willing to vouch for the truth of the
report, and none were prepared to testify
to its falsity. There was an awakening
In the corn pit to-day. The opening was
rather soft on the increase of nearly
LOCO. 600 bushels in the visible supply, and
The market dragged along without much
life for quite while. 1t gradually hard
aned, and during the last hour of the long
session business was exceedingly lively,
everybody trading III big lots and without
hesitation. Fleming & Boyden and Norton
e. Worthington bought 1,50O, 900 bushels
between them, David Bows took 500, coo
md Baker 200. 900 or 800, 600, with smaller
transactions scattering. The crowd gener-
lilly were selling, Brown. Nat Jones and
Poole being the most liberal dispensers of
The cereal. May was the month traded in.
at l o'clock 41c was the price paid, but
after the official trading was over Baxter
bid 41@41 sc for $50, coo bushels. On the
short afternoon board corn weakened
rifie, but firmed up and sold &c higher
Than at / O'clock. Fleming 81 Boyden
gave up the name of David Bows on their
forenoon trades, and Norton 81 Worthing-
ion are thought to be buying on the same
principal.
LATE FIGURES
were 1890 for February, 3715c for March.
B7%sc for April and Al &c for May. Oats
We're quiet and rather tirmer, but there was
no appreciable change in prices. The stu
alton in pork is just now attracting the most
attention, although it is not drawing the
most speculation. Commission men are
now ranging their customers on one side Of
the market. For this reason the air is full
of theories offices are Uttered with statistics
and the wires are loaded with pointers.
''4ll the talk" said Mr.. Favorite, OF Ar
tnOur Co, ''by brokers of ar absence of out
side trade is without foundation. The fact is
that the cash trade these brokers used TO do
has left item and left them for good Be
cause they get no orders is no evidence that
the demand is not sharp. The method of
business has changed, that is all. Orders
that used to come on change are now done
at the Offices of the different packing con-
Germs. Armour Co. and the other packers
are doing their business direct and without
brokers. Shipments of meats have been
good. 1.000,000 pounds more last week than
the week before. Stocks AT Kansas City and
the other Southwestern points are low. These
points have sold ont faster than Chicago. be-
cause they get TO the South on cheaper
freights. The stocks of meats here are de-
creasing this month. Business is healthful."
TIE SITUATION IN PROVISIONS
just now seems to be really dependent on
hogs. The market is good deal better
evened up than fortnight ago. The coun-
try is still long some pork, but good deal
has been realized at q good profit. The
outsiders have made more money up to
date than the insiders. The local crowd
appears to have turned bearish The pack
ing houses which were short have largely
covered. In all likelihood the future price
of pork is as uncertain as the result of a
flip up" The future price will depend on
the ultimate decision that is generally
reached OH the prospects for hogs. If at
the end of this month, or if some time
along in March, cOuntrymen and factors
should agree that the summer logs would
turn out all right, then there would follow
wholesale selling. If it should turn the
other way prices would be certain to adj
vance. 1t is quite certain that there is no
deal on hand yet, either by Armour or by
anybody else. The big packer is pretty
certain to be long with the little ones, toll
lowing tentative course. keeping business
close in hand, and preparing to change his
plans in great hurry when the all
important question of hogs is settled. The
option business was dull to-day and local in
its character, and the changes in closing
prices as compared with yesterday insignifi-
cant. The prices of product sagged during
the middle of the morning session in sym
pathy with wheat, but recovered later.
February and May product closed at $40. 95
@l1.12}9 for pork, S6.O21S@6.15 for lard,
and $5.50@6.60 for short ribs.
PETER BERKEY, sPres. F. W. ANDERSON, Cashier.
CIV. GkIGGs, V. Pres. A. c. ANDERSON, Asst. G.
THE ST. PAUL NATIONAL BANK,
CAPITAL. 100000.
Cnrllnr Fifth and .Iaclsnn straat.