St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-01
The COMMERCIAL WORLD.
Large Receipts Of Hogs Forced Prices
Down, and the Bears We're
Cautious.
Grain Cables We're Unfavorable aud
Prices Went Down in C0nse-
quence.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Special TO the Globe.

Special TO the Globe.
CHICAGO. Jan. 3l.-There were 80. 600 hogs
at the yards this morning. Prices ruled lower
and product opened off. May pork sold at
he opening at Sl4.20 and moment later
some OF 1t changed hands at Sl4. 21l20l43O,
and for an hour or more remained apparently
pegged at Sl4.25Gl427l2, with May lard
quoted at S762l2@7.65 and May ribs at
S76517. 61I2. There was no pressure TO
sell. The bears are operating with caution
and those who have been covering OF late are
not yet venturing into new contracts win
the degree of confidence that marked their
trading up 10 the first of last week. Grain
cables were rather unfav orable, and i'll the
speculative market May..wheat sold of early to
SlSSc and May corn 10 52l2c-a shrinkage of
Ssc from Yesterdays close. Trade was OF
moderate volume. The market was destitute
of sensational features the day through.
Late cables were soft al decline. Advance
tips of stocks al the principal European
grain centers show an increase nearly every
where and larger aggregate than last year,
but 10 offset This il must he remembered that
the quantity on passage is less by l4oOO,OOo
bushels Than year ago. The hit
ing OF the snow blockade has increased
the receipts at Northwestern points,
and the winter wheat markets are inclined
Ter wheat region give an unfavorable report
OF the plant. 4 large area is uncovered and
the plant is represented as looking poorly. IL
got a bad start last fall and needed an eXcep-
tionally favorable winter 10 see it through.
New York was very weak to-day, but the
buying was by strong parties. Corn pre-
scented no new features of especial interest.
The market draggedin sympathy with wheat,
but at 52l2e there were abundant buying
orders and the close was at the top of the
narrow range Provisions were better sup
ported to-day than was thought probably
they would be. The AnglO-Amencan COM
pany bought some, and the brokers sup
posed 10 represent the Kansas City Fowler,
bought ribs on Il large scale. The local firm
is split up into the Anglo-Am ericau, Clifton
4 Co.. and Fowler Bros, and the Kansas
City brother is lat out with his other broth
erS. Nevertheless they appear 10 be in har
mony SO far as business goes, and the crowd
is afraid of them. but talk to the contrary not
withstanding. The market to day was main
tanned by the moral influence" of the
Fowlers more probably than by their actual
purchasers. The close was at the top all
round and there was no great quantity of
product offered at the Improvement. Clos
ings of both grain and provisions were about
the same as yesterday. Grain and provis
ions were steady during the afternoon SEES
sion. Transactions were mostly in the line
of changing over contracts into later months.
There was no pressure 10 sell wheat, corn or
provisions. Afternoon Prices-Wheat, Feb
ruary 1534G 757sc: March, 76A@76ssc; May,
S4s46S17sc. Corn, February, 477Sc: March,
aisle; May, 5234c. Oats, May. 33ssc. Pork,
February, S14.12l2; May, S14.32l2a5. Lard,
February, $3.50; March, S7.52l2: May
S7.61l2. Short ribs February, S7.35;
March, S7.55; May, $40.
THE ROUTINE REPORT.
CHICAGO, Jan. 3I.-The markets on change
were unusually duh and almost featureless
oday. Wheat travelled over very nearly The
same path as on Monday. Opening prices
were Comparatively steady, and on the lib
eral selling of two or three local houses
prices declined from 14@I2c. The usual
number of scalpers filled the pit, but the
range was so narrow after the early decline
that there was poor picking for any one No
one appeared TO have the nerve TO buy ex-
cept few stragglers, who were still cover
ing, or those who bought for a temporary
rally of A@l2e. May wheat opened lsc lower at
Sls4c, and sold at once down to SlsSG1Sll2;
held steady at about S1l20Sl5sc during the
greater part of the session, and closed with a
slight recovery TO S17sc. Corn was quiet and
steady during the greater part of the day,
with trading chiefly between local operators.
May opened at 52i2@ 52ssc, declined to 52ss
@52l2c, where it remained until just before
the close, when q little squirt carried ii to
52s4c. Oats sold within &c range for May
with other futures entirely neglected. May
closed at the outside al 336l36lsc. Provisions
were moderately active and consider
ing the surrounding circumstances. the feel
ing was fairly firm and prices well supported.
The receipts of hogs a; the yards were I'M
usually heayy-45, 900 head-tully so per
cent larger than estimated, accompanied
with q further reduction in prices and this
had depressing effect at the opening of the
market for products. Spectators were dis
posed 10 enlarge the offerings. especially for
delivery q and no
ucularly urgent. Early sales were made at
reduced figures, but shorts were anxious TO
provide for their outstanding contracts and
longs were inclined to enlarge their holdings,
consequently a reaction set in and the decline
in prices was recovered During the latter
part of the session the market was quiet, but
prices were moderately well supported May
pork opened l2l2c lower at Sl420, sold to
Sl4.lIl2c during the opening furry, frmed
up on hberol purchasing to Sl4.32l2, reacted
10 Sl4 2ll2. and closed at Sl4. 32l2@ IA. So.
Lard held steady at S7.62l2@7.70 for May,
closing at S7.67l2. Short ribs sold at S7.62l3
and $40 for May, and closed at $40.
THE QUOTATIONS.:
The leading futures ranged as follows:
Wheat, No. = February. opening T5sSc,
closing at 75s4c; March, 76c, closing at
76Ac; May, S1s4c, closing at S1s4c; June,
S2c, closing az s2Ac. Corn, No. 2-Febru
airy, 47l2c, closing at 477sc: March, 4Sc
closing at 4Slsc; May, 52l2c, closing at 52s4c;
June. 525sc, closing at 52$4c. Oats. No. .
May, 1924, closing at 33c. Mess Pork, per
DDl.-feDTudry, Si0.SO, CLOSING At Sl4.lEt2,
May, Sill 10. closing at Sl4.3 2l2. Lard. per
100 lbs.-February, S7.I5, closing at $3.50;
March, $3.50, closing at S7.5:I2; May, 81
62l2, closing at S7.67l2; June, S7.67l2, clos
ing at S7.72l2. Short Ribs, per 100 lbs
January, 81. 40, closing at 81. 1912; February
E737l2, closing at 81. 40; March, $3.50, clos
Ing at S7.55; May. 49,. 62l2, closing at $40.
Cash quotations were as follows: Flour
Ruled duh and prices without change, though
slightly easier. Wheat-No. 2 spring, 75s4@
nc; No. spring, 66@66l2e; No. red,
79I2c. Corn-No. 2, 47s4c. Oats--No. ., 29c
Rye-No. Q, 62c. Barley-No. q SIC. Flax
Seed-No. l. S1.45@I. LAC. Timothy Seed
Prime, S2.46. Pork-Mess, per Dbl. S14O7I2
@l5. Lard-Per 100 lbs, 81 .5O@7. spa
Short Ribs-Sides (loose), S7.4O@7. 42L2: dry
sailed shoulders, (boxed), S5.9O@6; short
clear sides Cboxedl, S7.S5@7.90. Whisky
Distilers finished goods, per gal, 81. l3
Sugars-Cut loaf, S@S12c: granulated. use;
standard "a Csc. Receipts-Flour $4,000
bbls; wheat, 81 900 bu: corn, Ill 900 bu /;
oats, LOG, OOObu; rye, 1000 bu; barley 49,
900 bu. Shipments Flour, 10000 bbls;
wheat $4,000 bu; com, 10000 bu: oats,
1l7,o00 bu; rye, 1000 bu; barley, 10000
bn. On the produce exchange to-day the
butter market was quiet at 22032c for
creamery; dairy. 17624c. Eggs = 20022c.
r. M, NEWPORT e. SON.