St. Paul daily globe., 1888-05-23
The COMMERCIAL RECORD.
Wheat Took a Tumble Yesterday and
Sold Off at Almost Every Break
of the Session.
Under Heavy Buying Germ Scored a
Slight Advance---Provisions
We're Strong.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.

epecial to the Globe.
{ CHICAGO May 22.-There was no reason 10
believe at night that the so-ealled oull sylul-
cate had sold any wheat, but at one ume our
ing the session the crowd believed that 1t
was selling, and the effect was the same as IL
1t had been fact. A broker i'll New YORK
sold 100 boat loads in one transaction, and
fifty boat loads in another, sale in the two
lots Of 125 600 bu. New York dispatches
said that the order came from Chicago and
probably from Cudahy. That bit OF gossip
was the most influential of anything during
the day. July wheat opened at SI35c ana
looked strong for a while. Hutchinson was
q seller again. Cables from Liverpool SAID
wheat was tending down" The weather
here was bright Dispatches from the Red
river district said that the country there had
lust had a nice warm rain, and that the pros
poets were fine. All these gave bear tend
ency 10 prices; but they were as nothing
compared with the dispotches from New
York intimating that the sydicate holding
here was being sold out there From SISsc
July dropped to SIC, where there was long
fight. Then. after rally TO S15sc, II started
down faster than ever, and this time went TO
S61s@S614c. Besides the selling by Hutchln-
son there were big lots gotten rid of by Nor
ton d Worthington and by William Young d
Co. The Smith Gaylord -Trego holdings went
overheard, according to the gossips. W. G.
Mccormick 4 Co. were credited with selling
almost million of December wheat for st.
Louis. Bloom was apparently covering. he
took several large lots of December, and bid
once or twice for round lots without getting
them. There was steady buying all the
session by j. A Edwards & Co., credited to
Lind, and by the Dwights. The buying that
turned the market up just before the l
o'clock close was by Nash d Wright. corn
selling house that usually takes very
little part IN the wheat pit. They
took over 100000 bushels from
S6IsS6@4c up to S6s4c. This latter pointwas
the closing figure for July at I o'clock. The
far options early were very weak, December
getting to 12c discount. Blooms buying
brought it up. however. 1t closed almost at
parity with July. The primary market re-
ceipts were large, 217,000 bu. The big
movement still continues out of Duluth.
The receipts of corn, I'll cars were little
under the expectation. OF the lot 3s7 cars
graded No. .. The estimates for Wednesday
are $50. At the opening, Foss, Strong "
Co, were in the pit as buyers on large
scale, and took, probably, 100000 bu of
May and July. This at once rallied the feel
ing which had gotten very weak over night
May opened at 5olsc, touched SIC, and
closed at l o'clock at 545sc July opened at
54l2c sold between 545sc and 553sc, and at
/ o'clock was 55Isc. Vessel room was taken
for 261, 900 bu. The No. grade kept up to
within l2c of July. Oats were comparatively
steady, especially for May. The receipts
were 39S cars: the estimate for Wednesday
20S. May opened at 33e, sold at 335sc, and
al l o'clock closed at 3312c. July opened at
321sc touched 325sc, and at l o'clock closed
at 324c. In provisions the strong feeling
lately prevailing was continued. Trading,
however, failed to show any Improvement,
and in the moderate business transacted
short ribs and lard led in interest In the
last named article the English houses were,
as usual, the principal buyers. Future short
ribs were bought mainly by 4 leading local
packing institution. Pork was without
special feature. Cash product was again
Slow, though arrangements were made for
the immediate shipment of 5000 tierces of
lard to Liverpool. The stock of contract
lard now here is estimated by good judges at
10000 TO $4,000 tierces. Based on las
nights closing, pork at l o'clock was un-
changed while both short ribs and lard
showed an advance of 5@7l2c. At the after
noon session wheat opened 4@l2c higher,
and corn and oats 1Ac higher There was
active trading during the half hour session,
and at the close wheat was sec higher, and
corn and oats l4c higher than l p. IL. close.
Provisions gained 2l2@5c.
THE QUOTATIONS.
The leading features ranged as follows:
Wheat No. 2-June opened at S6l6c, closing
August s6lsc, closing at e5Bc; December,
S7Ac, closing at SIC. Corn, No. 2-May
opened at 55lsc, closing at 55a4c; June
544c, closing at 547sc; July, 54l2c closing
at 1J3gc: August. 50lsc. closing at 555ac
Oats, No. May opened at 33c. closing at
33l2c; June, 32lsc, closing at 32ssc; July,
32lsc. closing at 32l2c; August, 2SAc, clos
ing at 2Sl2c; Mess Pork, per bbl-May
closed at S14; 40; June opened at S14,45,
closing at S14 40; July, isl4.45, closing at
S14.5o; August S14.5O, closing at $14.6O.
Lard, per 100 lbs-May closed at So 65 June
opened at SS.G5, closing at $50; July,
$500, closing 5 at at $e;72!2; August $s,67I2,
May closed at S7.67l2; June opened at
S7.6712. closing at S7.67l2; July. 81. 10 closing
at S7.75; August, S7.77l2. closing at ST. S2i2
Cash quotations were as follows: Flour
Steady and unchanged. Wheat-No. 2
No. red. soc. Corn-No 2, 55ssc. Oats
No. 2, 33I2c Rye-No. . 65c Barley
No. 2, 55c. Flax Seed, S1.39@l.4 40. Timothy
SeedamPrime, 1928. Mess Pork-Per bhl,
SD 3712@11.40. Lard-Per 100 lbs So 6712
dry salted shoulders (boxed), S6@625;
short clear sides (boxed), SIS. logs Is.
NhiskyocDistillers' finished goods per gal,
aed 7e sandard i9af sc sTaau
Flour, $4,000 bbls wheat, $4,000 bu; corn,
$4,000 bu; oats, 322000 bu; rye, 1000 bu:
barley, $4,000 bu. Shipments-Flour, Ia. 600
bbls; wheat 15,000 bu.; corn, 1000 bu;
oats, 100000 bu; rye 10000 bu; barley, 6,OU0
bu. On the produce exchange to-day the
butter market was steady; creamery, lSI2@
23c; dairy l7@2lc. Eggs in good demand;