St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-04-02
The COMM RCIAL RECORD.
A Short and Uneventful Session Was
Held Both in New York and
Chicago.
Wheat Was Weak, Corn Strong and Ad-
vancing and Provisions Weakened
and Went Down.
Transactions in the Financial Circles OF
Wall Street.-The General
Quotations.

eVentfQl ana uLluteTeStluS uas I'll 'AiN "AN'
market The foreigners are taking vaca-
ton which will last until next TUESDAY, SO
that no news of importance could come from
abroad, 1t was a short session in New OK,
and only morning session here, and, as
might have been expected, there was more
holiday feeling than business interest i'll the
market The weather was mild and pleasant
Receipts of wheat in the Northwest were
unusually large, and crops were better. Ex-
ports were small and general strike with
naralysis of business, seemed imminent. All
these influences were calculated to produce
weakness. But, on the other hand, corn was
strong and advancing in price. and Eutchin-
son was very liberal buyer of wheat most
of the morning, although he was seller
at the upper limit of fluctuations
The result was that the extreme variations
were within range of Sac and the changes
were not frequent Local trade did almost
all the business While the tendency OF the
railroad strike is conceded to be to depress
prices, it is even stronger towards diminish
ing the volume of the business and 10 tins
quite as much as anything else may be at
tributed the small transactions of today
Estimates of the decrease TO be shown by
next Mondays visible supply statement very
widely running from 100000 to 100000
blu. with the majority of opinion seeming to
be for about 10000 blu decrease. In New
York they look for 100000 bu decrease.
Corn opened very excited and unsettled. The
price advanced almost a cent quite rapidly,
then fell back a l2c, advancing later
to 53Ac, and closing only
shade lower than the top figures.
The most weighty influence in the market
was the expected general railroad strike. Its
effect here was exactly the reverse of its ef-
feet in the wheat market 1t might mean the
cutting off of all receipts, and as stocks here
and east of here are small, the danger OF all
actual scarcity wouldn't be far away. This
frightened the shorts and caused the sharp
advance When their demands were satisfied
the price fell again, but at any decline there
was strong buying, which appeared to be for
investment, and the result of each Of these
sharp fluctuations seemed to be to leave
the price little higher than be-
fore. Hutchinson was a free buyer
of corn to-day. The oats market was
quiet and featureless, but at a little higher
range of values fluctuations amounted only
to 1sc. The provision trade was little heavy.
An early break in pork. occasioned by free
selling by pit trader, weakened the entire
market and turned the tide downward.
Lower prices was the rule, and at the ad-
iournment pork showed decline based on
Thursdays closings of 1C@12l2c, lard of sc
and short ribs of 7l5c. The days business
was only moderately liberal, and in the line
of speculation mainly local. May, June and
July were the active deliveries l p. M. Prices
Wheat, April, 725sc; May, 77Isc; June,
775sc; July, 777sc. Corn-April, 1880;
May, 53Isc; June and July, 52lsc. Oats-May,
311Sc: June, 311sc; July, 304Sc. Pork-May,
S13.4 June, S13.52l9. Lard-April, $3.50;
May, S7.57l2; June, $7.62l2; July, $7.67l2.
Short Ribs-April, S7.07l2; May, $40;
June, S7.17l2; June. 1925.
THE ROUTINE REPORT.
CHICAGO, March 31.-The corn pit was
overlooking with excitement to-day, from
start TO finish In the language of one of the
traders ''the boys would rather monkey with
buzz saw than with anything else" 1t was
probably for this reason that the small shorts,
who did some terrific scrambling to buy i'll
their property when the market was going
up. were the best sellers whenever prices
showed any signs Of weakness. Everything
seems to hinge on whether or not the rail
roads would be able to bring in corn to fill
the contracts with. If there was going TO be
no tie-up, the vast majority of the crowd
would sell persistently at anything above 80
cents; but on the other hand, they had
an underlined fear of a corner in the
out in several spots and several houses, who
have been pronounced bears heretofore,
thought the deal was getting little too rich
for them and began to cover to-day May, at
the opening, was sold as low as 52lsc, but
before noon was at 53lBc. Then, after cas-
ing back to $3.50. was rushed up TO 534c on
the estimate of only SO cars OH Mondays re-
ceipts, closing at 53lsc. Wheat was dull and
unfnteresting. The May future was about
stationary all day, between 77077Ac. The
trading was exceeding small i'll volume. Pro-
vision trading was almost as unlntereSting as
wheat May pork went down under moder
ate trading to $3.50, but irmed later to
$3.50.
THE QUOTATIONS..
The leading futures ranged as as follows:
opened at nc, closing at 771Sc; June,
7742e, closing at 57ssc; July 7734e' closing
closing at 531sc; June, SIC, closing at 52lsc;
July, SIC, closing at 521sc. Oats-No 2, May,
opened at 311sc, closing at 81 l5c; June, Sic,
closing at 81 1sc; July, S012c, closing at 3Ossc;
opened at $3.50, closing at $I3.45; June,
Si3.65, closing at S13.52l2 Lard, per 100
lbs-April closed at 500; May opened at
$7.62l2 closing at $7.57l2; June, S7.67l2,
closing at $?.62l2; July. s7.7212; closing at
opened at $7.I5, closing at $40
June, S722la, closing at S7I7l2
July, $7.32l2, closing at $7.25.
Cash quotations were as follows: Flour
steady: winters Zoe higher. Wheat-No. 2
No. 2, SIC. Oats-No. 2, 27l2@3Oc Rye
No. 2, 5912c. Barley, No. 2, 77QSOc Flax
seed-No.1, 81 .4491. As; prime timothy seed,
$2.62@2.63. Mess pork, per Dbl, $4,000
Qoose), SOB; dry sailed shoulders (boxed),
$5.75@5.76; short clear sides (hoxed) 81. 50
@760. Whisky, distillers' finished goods,
per gal, S1.15. Sugars-Cut loaf zs4@Slsc
standard "a" 65sc. Reeeipts-Flour, IS,
oats, $4,000 bu barley, 10000 bu Ship
ments-Flour, 90, 600 bbls; wheat, ID 900 bu ;
corn, 100000 bu; oats, $4,000 blu; rye,
1000 bu; barley. 10000 blu. On the produce
exchange to-day the butter market was firm
aad active; creamery, 24@31c; dairy, 21@
26c. Eggs unsettled: fresh, 13@14c.