St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-04
THE COMMERCIAL RECORD.
DullneSs Was the Characteristic OF
Trading on the Chicago Board
Saturday.
However, There Was Nothing Particu-
larry Discouraging Noted in the
Situation.
Transactions in the Financial Circles Of
Wall Street.-The General
Quotations.
Special to the Globe

Special to the Globe.
CHICAGO, March Storm opened strong at
4c advance along the whole range OF tut
IIres. But there proved to be unexpectedly
large offerings of property, and the market
began at once to ease Off May going from
5284c to 52l2c and June from 52Ac 10 ol1sc
Receipts were 207 cars, not one of which
graded No. 2. The soc shorts must have
been pretty well driven in. Because the
support from shorts was not strong to-day
Hutchinson came forward when the market
was most nervous around the open
ing and passed his card around
Offering to sell all anybody and
everybody wanted at 52l2@52ssc. The
crowd enshrouded itself in the wet blanket
and modified its bull enthusiasm. Wheat
was featureless. 1t was strong at the open
ing on the cold wave. but scrutiny of the
weather map showed that it was neither so
general nor so severe as predicted. Cables
were steady 30 outside orders to speak tf
were received, and trade was light. Proyis
ions were stupidity duh this morning, with
little doing. May pork was quoted at
1I05@l4.07l2; May lard at S1.I5
and May ribs at S7.27l2@97.30. This was an
off day on change. The markets were dull
and weak Both grain aud provisions, corn,
which had been leading i'll the late advance,
was the leader again to-day but the process
sion was headed the other way. The bullish
spirit is not gone yet, but there was so much
corn for sale that The market could not take.
Hutchinson has been unloading his long corn
for several days. His line Of 100000 or
100000 being peddled out all the way up.
Yesterday
FOR FEELER
he bought 100000 bushels and threw it
over later To1day'he changed front and be
came an open bear. He sold sparingly at
first, and then being satisfied that the ice was
thin, he took a plunge. He put out line OF
nearly 100000 bushels. and every time the
market lifted its head he plugged it full.
Most of the people who were in at
the beginning of the bulge floated
out on the way up and when
prices turned down they were prepared for
it, 1t is only the late corners who look sad.
They are an unhappy lot to-day, are the gen
tIemen who got on the train after 1t started
with the intention of riding TO the 60c sta
ton. Corn for May sold down 10 52is@ 5214c,
and large business was done below 52$8c.
Wheat was weak from sympathy with corn,
but on its merits it displayed a resisting
power, perhaps because the market is
humping in the bottom only light business
was done i'll the pit but The crop conditions
are such as to deter short selling, while the
lame, halt, blind and broken bulls have not
the courage to make another charge. Thus
the market is water-logged, pitiable state
of suspended animation, broken-backed and
crippled. Cudahay, who was buyer of pro-
visions early, turned around and pounded
the market later with the stuff he had bought
breaking the price OF product Of all kinds.
D., hi he Ia
S7.25, and lard to S7.67l2. There was
slight reaction from these figures, but the
tone of the market was weak to the close.
THE ROUTINE REPORT.
QCHICAGo, March 3.-The semi-revival of
speculative trade in grain that came with the
opening of March was of short duration.
While the temporary bulge continued there
was activity. but with the reaction and de-
cline in prices came dizziness. About every
thing on the floor opened this morning at a
trfie better prices than Fridays close. The
tendency to buy was uniformly and slowly
downward, and the opening sales were at
the best figures of the day. Wheat for May
started at S0s4e, sold at once to SO7sc and
within an hour went of to e0Ss@S0l2c.
There was nothing particularly discouraging
i'll the situation; il is regarded strong at pres
ent prices by the maj erity of the trade, but
still there was apathy and a lower range of
prices. May opened at S0i2c during the
greater part of the session and finally closed
nj that figure. While corn led upwards
Thursday and Friday, il led in the decline
early to-day. The opening quotations were
higher than the closing last night, but they
were the best of the day, and the first two
hours carried prices down l2c. The volume
oftiadingWas quite good, but SO consencrated
that litt~ outside was attracted. May
opened lsc higher at 52S4c; declined to
J2lsc and closed.at 52lSc. There was very
light speculative Trade in oats with nothing
but the smallest fluctuations. May
opened at 3ls4c, sold down to 3l5sc
and closed at 3ls4c. The provision trade was
q little more stirring than on the former days
of the week, and around the tp,n-
ing prices were depressed by compare
lively free offerings. Later there was Il bet
ter showing of strength. yet at the adjourn
lOc and lard and and short ribs sc. Trading,
while the bears mere selling, was quite fair:
bat after the frst hour, when they withdrew,
business Twas spasmodlc and slow. May pork
S7.75 to 81. 67l2, and closed at s. 20. May
ribs sold down 70 and closed
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. =, May opened at SOs4c, clos
ing at SOssc; June, sic, closing at SOs4c;
July, sO7sc, closing at S06sc. Corn-No. .,
March opened at 47lac, closing at 4sl2c;
May, 52Sic, closing at 52Ssc; June. 52ac
closing at 5l7sc; July, 52l2c, closing at
51&c. oats-No. =, May opened at 3ls4c,
NIcSItlS az OI"+Cs O1f4t, ClO1ilte at
5l$Sc: July, 30iac, closing at 30l2c Au
gust, 2Sc. Mess Pork, per bbl-March,
opened at $500, closing at $3.50: May,
Sill. closing at S1392A: June, Sl4.10.
closing at $1410. Lard, per 100 lbs-May
opened at S7.75, closing at $40; June,
$50, closing at S7.72la; July, S7.S21a
closing at $3.50. Short Ribs, per
100 lbs-May opened at S7.32la, clos
ing - at at s7;25; June, 81, closing
Cash quotations were as follows: Flour
Quiet and demand limited; winter wheat,
S2500425; spring wheat, S2.70@14.40.
Wheat-No. 2 spring, 75I20179c; No. = red,
Si4c. Corn-No. 2 J046D5Ol2c. Oats-No.
Q, 29c. Rye-No. =, soc. Barley-No. 2,
71@1Slec Flax Seed-No. l. S1.14. limo
thy Seed-Prime, So 40 Mess Pork-Per
Dbl, $3.50. Lard-Per 100 lbs, $3.50.
Short Ribs Sides (loosel, s7.1o@7- Is; dry
sailed shoulders (boXed), SGO6: short
clear sides (boxed), S7.5007.62. Whisky
Distillers finished goods, per gal, S1.15.
Heceipts-Flour, 10000 bbs; wheat l., 900
bu: corn. 70, 900 bu: oats. 4G, 900 bu; rye,
1900 bu; barley. $4,000 bu. Shipments
Flotir ID. 900 bbls: wheat, $4,000 bu; corn,
I31 600 bu: oats, 81. 900 bu; rye. 1000 bu;
barley, 1900 bu On the produce exchange
to-day the butter market was quiet;
creamery, 21@27c; dairy. 16@24. Eggs I'M
settled at l0l.0lGc.
r. M. NEWPORT & SON,