St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-21
The COMMERCIAL RECORD
The Prevailing Sentiment Was Bearish
in the Grain Pit Yester-
day.
Values In Provisions Were Kept Steady
by the Bulls Conversational
Powers.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Special TO the Globe.

Sptcihl 10 the GlODe.
CHICAGO, Jan. 20.-Wheat and corn opened
at about yesterday closing range, and for an
hour the market changes were small indeed.
The prevailing tendency was bearish. aud
values displayed a tendency downward, but
the inclination was very gentle. May corn
was quoted early at 53ls6I53c, and May wheat
S3lR@S2S4c. There was no excitement i'll
provisions. The reaction appeared to have
eliminated at S14.50 for May pork. The
active buyers of the past day or two were do
ing nothing, and good many of them gave
it out that they had bought i'll order TO have
something more substantial than short
STUFF to club the market with. Long prop
erty is a much more effective weapon to beat
down prices than wind, which must be
bought back later There is no need OF at
taching string to long property when hold
on is released, whereas shorts must some
time or another be provided for. Around
the opening to-day May pork ranged S14.45
@1450, May lard $7.55@7-57ls, and May
ribs S7.72l2@97. T7l2. This afternoon the
price of May wheat sagged off to S2ssc and
climbed again to S31sc, only to settle back
below S3c within a short time. Trade was
strictly local. 1t was monopoiized by home
talent" The country is Obliyious to
the allurements or the speculative
ment III other channels, or else is lying in
wait until sure thing looms. Wheat at
present prices and in the absence of special
stimulative influences is not attractive to the
masses. A majority of private cables were
dull, and i'll some cases decline in prices
was mentioned. Corn got active in spots.
The prices got down to 53c two or three
times. but i'll every case good buying by
Hutchinson and few heavy buyers turned
the market up, and the average price was
534c. 1t once touched 53sSc, and acted
strong. The scalpers are bearish, and at
every opportunity pound the market. The
pork bulls did more talking than buying to-
day. Their conversational powers were
great and they kept values steady. but this
was probably due in great part to the fact
that the bears were more anxious to load the
market up quietly than to break prices at
this stage. They are not as yet as heavily
short as they would like to be, so they say.
At the afternoon session the grain markets
were shade higher on cold weather, and
provisions were firm and steady; 2:3O p. m.
prices: Wheat-January, 7634@767Bc; Feb
ruary, 767s0l77c; March, 77ls@779sc;
May 6312 a S3A. Corn-January and Feb
ruary, 1880; March. 4s14e; May, $3.50
Oats-May, 33l2c. PoIk-January and Feb
y.
Lard-January and February, S7-4O; March,
and February, $3.50; March, 81 G2l2; May,
S777l2.
THE ROUTINE REPORT,
CHICAGO. Jan.2 0.-There was little activity
in any of the pits at the opening OH change,
and opening prices were practically the same
S3c. There were no orders from outside, and
the pit was very duh. May sold down to
S23Bc in the first hour. The scalping crowd
all got short on the way down, and little
firmness in the other markets started them
all to covering. causing May to advance to
S3Is@S3Ac, where it closed. Corn opened
shade higher, with May at 53lsc: 1t was
largely under the influence of pork. Early
and covering by shorts soon fir1ned
it up, and May finally closed at 53ssc.
Oats were rather quiet and. fiuctuated
moderately active and prices moved within
q smaller range. Arrivals of hogs were fair
and the market firm. The packing in the
West showed further shrinkage, being 75,
600 hogs less than to date last year. This in
duced packers who have been selling prod
uct freely for several days past to act more
conservatiyely. Strong parties bought on
the decline and sharp rallies followed every
weakened to s11.52i2; rallied to S14.57l2,
receded and closed at S14.52l2 A fair trade
was done in lard and short ribs. Nav lard
sold at S7.52la@7 .62la, closing at the latter
figure. May short ribs sold at $7.72l2@
1924. closing at the 70 mer figure.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2 January closed at 7634c;
No. 2 February, 765Sc, closing at 1850;
March, 77l2c, closing at 77l2c; May. S3c,
closing at s3lsc Corn-No. January closed
al 4Sssc; No. 2 February, 477sc. closing at
4sasc; March, 4s1sc, closing at 4Sl2c; May,
531sc. closing at 53ssc. Oats-No. May.
1880, closing at 33l2c. Mess Pork, per Dbl
February, S14.05. closing at $14. 10;
May, S145O, closing at Sl4.52l2. Lard.
$40; February, S7.35 closing at $40;
S7.55, closing at S7.62 Short Ribs, per 100
lbs-January closed at $3.50; February,
$3.50, closing at 81 .62la; March, 81 go, clos
ing at 81 .62ls May, 81. 72I2 closing TN.
steady and without quotable change: Wheat
No. 2 spring, 765sM7734c; No. 3 spring.
nominal; No. red, S5c. Corn-No. 2, 400
4S1Sc. Oats No. 2, 3Ol2c. Rye-N0. 2, CSC.
Barley-No. 2 75@S5c. Flax Seed-No. 1,
$1.43ls@1 A. Timothy seed-Prime. $3.50.
Per 100 lbs, $7.35. Short Ribs-Sides
Qoose). $3.50: dry sailed shoulders (boxed),
5.90@6; short clear sides (boxed), S7.95.
Whisky-Distillers finished goods, per gal,
S110. Sugars-Cut loaf, S@Slac; granu-
lated, 7l2e sta a. e Coo Receipts
$4,000 bu; oats, 1900 bu; rye, 5000 bu;
barley 80, 900 blu. Shipments-Flour1 ID 900
bbls wheat 10000 bu: corn, 10000 bu;
oats, 6S, 600 bu; rye, 5000 bu; barley, 10000
bu. On the produce exchange to-day the
butter market was firm: stocks of light cream
2i@23c.