St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-05-26
Wheat was Bobbing Up and Down again
Yesterday, Closing Firm and
Higher.
Corn was Weak, Oats Strong and Pro-
visions Quiet and Feature
less.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Special TO the Globe.

displayed a preference for the short side of
the deal. The tone became firmer, however,
and within half an hour prices were back to
yesterdays closing range, viz: S7l2@S7Ssc
for July, S7s4c for August, and S14c for
Decem Der, the last named month being the
least active and the least boyant. Operations
were not on a large scale, and were without
especial significance. At S712c Hutchinson
tested the strength of the market by rather
free offerings, and retired notentlrely satisfied
with the result Of his ex perience, though
values dropped later. The market
seemed to be getting away from the in
fluence of the big room traders. They can, of
course, make fluctuations, but they experience
difficulty in controlling or directing the
course Of the market. Receipts of cars ag-
gregated 700 cars. Frost, Strong d Co.
offered some corn in the pit, but found buy
ers coy. The market acted weak. The i'm
mense receipts are testing the nerve OF the
bulls. The stuff keeps coming. 1t was ex-
pected, but the appearance of actual corn is
more formidable than anticipations of re-
ceipts. 1t is here, with pressing demandto
be taken care of. Oats were strong around
the opening. Provisions were quiet and fea-
tureless. July pork opened at SLID. July
lard at $500 and July ribs at S6.77l2. The
sensational feature of the day was the
circulation of report that the McCor-
mick Harvester company had published
an estimate placing the probable yield of
Western wheat at 40 per cent OF a crop. This
was sufficiently startling to be scattered
broadcast, and III twenty or thirty minutes to
advance the market 140l 12c, July jumping
from S67sc to SSSsc, and December to 90c.
Then the accuracy of the report was denied,
and the market eased off l2c. To arrive at
the truth. the United Press man called on
Mr.. Butler, manager of the Harvester com
pany. That gentleman stated explicitly that
the company had issued no crop reports or
estimates. His private views as to the crop
prospect he did not care to give for publica-
ton, for the reason that they might be mis-
leading. The information collected
by the companys agents was for the
benefit of the company, and was not for the
board of trade or the public. Asked if he
had expressed in private conversation an
opinion that there would not be more than 40
per cent of winter wheat crop, Mr.. Butler.
smiling, declined to make reply Sim
mered down and traced to its source, the re-
port was found to arise from statement Of
opinion made by Mr.. Butler TO Decker
Brown, a provision broker. So far as the
value of ii goes it may therefore be said to
have practically the force of an official re-
port from the Harvester Co., as it represents
or is believed to represent, the views
of its manager. 1t it does not, the
United Press is open for correction.
This. at least was the construction placed
upon it by the crowd, for the market held
steadily and strongly the improvement es-
taolished, and closing quotations were near
the top. The Wood harvester concerns
agents reports of the situation in the leading
winter wheat states are corroborative of the
most radical statements yet made. From the
southwest reports are multiplying of threat
ened ravages from insects. Cables are
stronger and substantial advance in Cali
fornia wheat is reported. Hutchinson kept
pounding the market from time to time with
out producing the slightest effect. The corn
market ruled dead, weak and lower. Esti-
mated receipts for tomorrow are 10 cars
The market does not stand up under the
load remarkably well, and acts soft. No new
TEXTURES developed in provisions. May oats
advanced cents, At the afternoon session
there was activity in wheat, corn and oats
with provisions duh and practically IN
changed. Wheat declined sac, corn A@a4c
and oats trife, from l o'clock p. M prices
THE ROUTINE REPORT.
CHICAGO, May 25.-The morning trading on
change was active in grains and very dull in
provisions. Wheat took the lead in interest
and in strength. The opening prices were
slightly below last night, and, after Just a
shade advance, prices went off quite sharply
for q half hour on realizing by many on yes
terdays purchases. The decline amounted
TO SEC in June, 34c in July, and 1c in Deem
Der. The moment the liberal offerings were
over. prices rebounded l2@s4c. At this op-
perfume time, the rImor that harvesting
machine company had reliable advices that
the winter wheat yield in several leading
CT n n, tofo
crop, was started, and used freely in the pit
This and other creations caused another 12@
Ac advance. and July sold l4e over the lowest
point of the morning, while December went
to 90c. The reaction which followed when
the rumor was chased down, was just about
equal to the advance caused by the state
ments. July wheat opened at $3.50, advanced
to Sz5tc. sold down to s67Sc, up to SS3Sc,
back to S1a4c, up to SSAc, and closed at
S74sc. December closed at S94c. In corn
the local receipts were so large as to over
shadow everything else, and caused lower
range of prices. The receipts to-day were
700 cars, and the estimated for Saturday,
was 10 cars. Over So per cent of the re-
ceipts this morning was graded No. 2; May
sold at o6Ssc to open and 56lsc to close.
July ranged at 564c up to 5612c, down to
$3.50, up to sec, and closed at $3.50. Trad
ing was only moderately active. In oats the
near futures were quite active, while
the most deferred options were rather quiet.
Trading in May was especially active under
an advance of lie over yesterdays outside
figure. May opened at 36s4c. and closed at
1884. Provisions were weaker, and prices
declined slightly. The weakness in corn
had depressing feeling among holders of
cured hog products and although trading
was small, and offerings not excessive, the
marked closed easy at the inside figures
July pork sold atS14. 42l2@14,5O, and closed
at $1445. July lard was purchased moder;
ately by the English party, and sales ranged
at SS.62l2@S 61l2, and closed at SS.62l2.
July short ribs sold at S7.72l2@z.7712, and
closed at S772I2.
THE QUOTATIONS..
Wheat, No. 2-June opened at S614c. clos
ing at S65sc; July, S7$sc, closing at S75sc;
August. S77sc, closing at S75sc; December,
s9Ssc, closing at e9l4c. Corn, No MAY
opened at 5sSsc. closing, .at 56Ac; June.
at 557Sc; August, 56Ac, closing at $3.50.
Oats, No. 2-May opened at 36s4c closing at
3sc; June, 34Ssc, closing at 34l2c; July,
337sc. closing at 33a4c; August, 29Ac, clos
opened at Sl4. 32l2, closing at S14.35 July,
$i5.52is, closing at s14.55s Lard, per
100 lbs-June opened at $3.50, closing
at S8.57!2; July, $50, closing at ss.62l2;
August, SS.67l2, closing at $500; Oocober,
$50, closing at SS.67I2. Short Ribs, per
100 lbs-June opened at $3.50, closing at
S SaeS: July! $751; s17s el esGsi9s at at s772
Cash quotations were as follows: Flour.
Dull and unchanged Wheat - No. 2
spring s64@S7c; No. red. 9Ol2c
Corn-No 2, 56lsc. Oats-No. 2.37A@37 l2c.
Rye-No. 2, 6712c. Barley-No. 2, 70@73c
Flax Seed-No. 1, S1.37. Prime Timothy
Seed-S2. 2502 80. Mess Pork-Per bhl
S14 35@14.3712. Lard-Per 100 lbs $500
Short Ribs-Sides Qoose), $3.50; dry
sailed shoulders (boxed, -S6@6. %; short
clear sides boxed, Ss.l5@S.2O Whisky
-Distillers' finished goods, per gal S1.19.
Sugars-Cut loaf 7l2@Sssc; granulated,
&c; standard "A 6l2c. Receipts-Flour,
10000 bbls: wheat, 10000 bu; corn,
$4,000 bu; oats, 213,O00 bu; rye, 1000
bu; barley, 200 bu. Shipments-Flour,
$4,000 bbls; wheat, $4,000 bu; corn,
10000 bu; oats, 21,O0O bu; rye, 5000