St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-04-03
The COMMERCIAL RECORD.
Trading Was Light in the Grain Pit Yes
terday, With Slight Advance
ALI Around.
The Visible Supply Showed Decrease
in Both Wheat and Corn---Pro-
visions Advanced.
Transactions in the Financial Circles OF
Wall Street.-The General
Quotations.

Special to the Globe.
CHICAGO. April 2.-This being the first bust
hess day Of the month, trading on change
did not begin until 1890. Deliveries we're
light of everything Not to exceed 25o,ooo
bushels of wheat and corn passed around,
and in provisions the same condition OBJ
tained On the curb there were some deal
ings In grain at shade better prices than
ruled at the close Saturday. May wheat
opened at 77A077sse. May corn at 53ssc
and pork at $3.50. This is advance of Ac
in corn, Ac in wheat. and decrease of DC in
pork. New York opened Sc higher for corn
This proved to be great 'evening-up day
In orn. The shorts bears and "shoestring-
ers'' were all buyers on the bulge that carried
the price of May to 541sc, and the bulls let
'em have it. There was very little new blood
introduced, and unless something eXtraor-
binary should occur the market will be apt
10 become dull, or, if not dull, certainly mar
row. Conservative commission men are ad-
vising customers to keep out of corn until
the period Of artific i al congestion is passed.
Investments on either side have become ex-
ira hazardous. A prolonga ton of labor
troubles will surely result in further shrink
age of visible stocks, and possibly squeeze
in the market This squeeze would not
necessarily affect the value of corn when it
once more gets in motion, and the only
persons who would be seriously hurt would
be the short sellers. According to Mr.. |. p.
Rumsey short sellers are very bad men,
and if his views are to be accepted as
gospel, the shorts will only be punished
for their misdeeds by being squeezed. But
seriously the danger of squeeze has been
greatly lessened by to-day's covering up, OPP
erations in the pit. The price fell back to
53I2c, but it did not stay there long, and
53s4c was the point around which most of
the trading was done. The visible supply
statement showed the following changes
Wheat. decrease 1854, 362 blu. Corn
increase, 1855 bu. Oats-increase 70742
Total visible stock of wheat are 100000
bu., against decrease of 81 100000 bu
year ago, and corn 100000 blu against 1S,
100000 blu year ago. Exports of wheat
and flour, reduced to blu, were / 100000
last week against 100000 blu year ago.
The visible supply figured showed larger
decrease i'll wheat than expected, and an in
crease in corn was where big decrease was
looked for. Wheat hungIaround 77Ac all
forenoon, with light trade. There was no
foreign news of importance, the day being
observed in Englandas holiday. Little else
beside the strike is talked about and until
that is settled one way or another business is
likely to continue. The money situation is
becoming more or less strained. Provisions
were weak. May pork worked down to
1925 and lard and ribs were also easier but
dull, at the afternoon session there was a
weakening in both grain and provisi ons
Wheat sold sSc lower. corn 4@58c lower
oats q shade lower and pork about 7l2c
lower.
THE ROUTINE REPORT.
CHICAGO, April 1.-The railroad troubles
causing light receipts and raising the fears
of those traders invested i'll May contracts,
furnished the leading feature of operations
on change this morning. The grain markets
opened strong and higher, and provisions
Bagged. The leading speculative deal was in
corn. There was scramble for that cereal
as soon as the board opened. All of the
shorts, both big and little, took hand in the
buying, and the bulls also helped to make
things interesting by bidding for corn. Be-
fore the excitement had subsidized May corn
had advanced from 53l2c to 541sc. AT the
latter price the longs were disposed to sell
some, and there was gradual falling back to
b3l2c. This price was touched about noon,
when the announcement of small increase
IN the visible was made. whereas the
expectations for a substantial increase. A
slight reaction followed and at ! p. m. the
price for the day was 53sBc. The trading
In wheat during the morning session was
insignificant, and the range did not exceed
Ac. All transactions were above the closing
price of Saturday. In the afternoon board
there was a decline all around of sS@f2c.
May sold at 77Ac to open, then at 77ssc, and
later at77Is@7714c, resting for the day at
T71Ac, but closing finally at 76s4@767Sc. A
decrease of 100000 bu in the visible sup
ply was not unexpected. Oats were very
Sta DIV on6 offerings liUht. MAY made q
advance of lac, while other options closed
practically unchanged from Saturday. Pro-
visions were moderately active carly; deliv-
cries on April contracts were small, all the
product having been sold for May. An UNI
settled feeling prevailed among holders of
product, and they were disposed to sell more
freely. and prices averaged lower. Pork was
Taided down zoe, but towards the close of
the morning session dizziness set in, and
sales at O'Clock showed net decline from
Saturdays close of only sc on pork, lard and
short ribs. On the afternoon board there
was further decline, however, of 7l2@1Oc
in pork and 2l2c on short ribs.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2, May opened at 77Ac, closing
at 7684c; June, Use, closing at 77Ac; July,
777sc, closing at 77I2c; December, SOssc,
closing at soc. Corn-No. 2, May opened at
b3Isc, closing at 53Ac; June, 524c, closing
at 52lsc; July, 529sc, closing at 5214c; Aug
ust, closing at 5214c. Oats-No. =, May,
opened at 3112c, closing at 3112c; June,
3lssc, closing at Sic; July, 307sc, closing at
3Oa4c; August, 27Ac. Mess Pork, per bbl--
May opened at $3.50, closing at $1332I2;
June, $13.47l2, closing at S13.37l2; July,
closing at $13.45. Lard, per 100 lbs--April
opened at $7.55, closed at $3.50; May
opened at S757l2, closing at 81 52l2; June,
$3.50, closing at $?.5712: July. $7.67l9,
closing at $7.62l2. Short Ribs, per 100
lbs-May opened at sos, closing at
S7.02l2; June, 81. l2l2, closing at
$40; july S7.171a. closing at
S7.l712; August, closing at 1925.
Cash quotations were as follows: Flour
steady, without special change. Wheat-No.
2spring, 727sQ755sc; No. red Sic. Corn
No: 2 5o5sc; oats.No. 2, 27as@3olgc. Rye
No. 2. 59l2c. Barley, No. 2, 77QSOc.
Flax seed-No.1, 81. Is; prime timothy seed,
$2.59@2.62. Mess pork, per bbl., $13.30@
1887. Lard, per 100 lbs $3.50, Short ribs
sides Qoosel, $7@7 O5; dry sailed shoulders
(boxed), S5.75@6; short clear sides (boxed),
S7.5o@7.55. Whisky. distillers' finished
goods, per GAL, S1.15. Sugars-Cut loaf, 7ss
@SAc; standard "a" 65sc. Receipts
Flour, 10000 bbls; wheat. 81, 900 blu; corn,
146, 600 bu; oats, lis, 900 bu; rye, 1000 blu;
barley, 10000 blu. Shipments-Flour, 90
900 bbls; wheat, $1,000 bu; corn, 211 900
bu; oats, $4,000 bu; rye, 1000 bu; barley,
$4,000 bu. On the produce exchange to-day
the butter market was very firm; creamery,