St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-27
The COMMERCIAL RECORD.
Fhe Range Of Prices Around the Open
ing Was Somewhat Above Sat
urday's Close.
q Good Deal Of Quiet Trading Was
Done, but Generally Things
We're Slow.
Transactions in the Financial Circles OF
Wall Street.-The General
Quotations.
special to the Globe.

stuffs markets abroad and, buying orders 1or
foreign account were filled this morning
here and in New York. Crop news was pau,
very bad but tho local scalpers and chrome
bears take no stock in that sort OF thlng
The range of prices around the opening was
4012c above Saturdays close, yet specula-
tive offerings were on such liberal scale
that the improvement was not sustained ana
values speedily eased off, though the under
tone was far from weak. The early range
was 770765sc for May wheat and 76A@
7684c for June. Corn sympathized with
wheat. May opened at 5014c, advanced l4c
and settled back to the starting point. The
markets were only moderately active. Pro-
visions were nervous. Transactions were
large on basis of S13 30@13.40 for May
pork, S7.47l2@7. so for May lard and 81. 17l2
67.2O for June ribs. The visible statement
showed decrease of GIL 900 bu in wheat
10000 bu in corn and 249O00 bu in oats.
Statisticans had figured on a decrease OF
200, OO0 bu in wheat and an increase in corn.
Consequently the statement favored the bulls.
Sentiment was bullish on the floor Outside
Rdvices from every quarter were bullish;
even New York dispatches were of
that tenor, a remarkable circumstance
The influence of crop news was felt to
greater or less extent and note began to be
taken of the fact that there had been large
original buying of wheat from soc down to
76c, the average of which was below Use
Boyd Paxton & Boyd are not the only com
mission merchants who have been buying on
''scale," and the validly held wheat runsup
to big amounts. The bears are stopping TO
think. They are less reckless than they were
last week, and seem to have suddenly be-
come possessed of a newborn spirit of eau
ton. Hutchinson alone of all the plungers
sold heavily this morning, and before noon
he becamea buyer. Bloom, too, whose stand
ing is important in the sense that he is one
of the best barometers of speculative senti-
ment to be found anywhere, also became
buyer on a Ito him) moderate extent his
purchases aggregating possibly 100000 bu.
All the time he was buying Bloom was elo-
quently disseminating bear views. He was
evidently afraid the train might pull out be-
fore he was fairly on board. The dealings in
the pit were not of especially large volume,
but there was a good deal of trading done
quietly nevertheless. Bears and bulls alike
were not anxious to exploit their operations;
both were seemingly afraid the market would
start too quickly. The price of May
advanced to 79Sc, June striking 773sc,
There was a rally of 11sc from inside figures
pectations. The close was at reaction from
the best figures. There was. not dry eye i'll
corn. The market is narrower than wheat
now, and even worse oyersold. The general
crowd can see no good in corn, and every
bulge catches them short to the neck One of
these bulges came to day, and when the
shorts tried to cover they could not find any
thing for sale. From 50SSc. May climbed
to sic, June going to 5034c. The market re-
acted slightly from this range, but not until
the light-waised scalpers had mostly come
into camp. The corn market is strangely
bulgy on slight provocation. Oats, too,
shared In the general improvement and adj
Vanced l2c. Pork broke some more this
morning. The lowest public quotation was
1920, but there were trades at S13.15.
Tom, Dick and Harry dumped pork this
morning. 1t was generally supposed that
Tom, Dick and Harry had let go before, but
such seems not TO have been the case. Every
commission merchant with a country client
had 5000 or 10000 bbls to SELL The bear
combination monkeyed a great deal and did
what they could to intensity the demoraliza-
ton without selling much. Indeed, they
bought, and Armour and Cudahy each coy
cred considerable linss. The Fowlers were
the principal buyers, however, taking proba-
The close was nearly identical with Satur-
days. The leading longs are being forced
inio position they cantwell escape, taking
the cash stuff May 1. At the afternoon ses
sion there was unusual activity in wheat and
corn, and a wider range of prices than at the
regular session. Corn sold lie higher wheat
sc higher and oats Ssc higher Pork adj
Yanced 10c.
THE ROUTINE REPORT
CHICAGO, March 26.-The weather and the
decrease in the visible supply were the lead-
ing influences in the grain market to bay.
The big traders early in the session did not
show their hand and the crowd were CON
tented to wait; consequently the feeling was
one of dizziness at the start, but later quite a
strong feeling in all the leading grains. de-
veloped. Many of the heavy short sellers of
last week had at least partly evened up their
trades and the markets were in shape to act
naturally.
In the wheat market the best card of the
day for the bulls was the decrease of 81 900
was 4c higher, at 7684c. After selling at
767Sc and down to 769sc, it advanced to and
closed at 77ssc. The speculative trade in
corn was largely of scalping nature,
moderate receipts, present and pros
pective, and the RAILROAD strike,
were the strengthening features and the
short interest here is not concentrated and
powerful as i'll wheat. 1t scares easier, and
when it has sold the market down a short
way, it is very apt to scramble to cover and
cause lively reactions. That was what hap
pened to-day. The wet weather, with it's
probable bad effect upon the grading of
grain, adds to the nervousness of the shorts
May corn opened at 50Ac. sold up to 5Ol2c,
then down to 501sc, up to 507Sc, and closed
ut 50S4c.
Oats followed wheat and corn. May
opened at 3Ol2c and closed at 3Ic The
n urQS nrra nd
volume Of business in pork was large, but in
lard and short ribs only fair. Pork was
raided by the big traders at the start and
prices started downwards. Each decline
brought out liberal-sized lots, lots on stop
orders and lots on which margins had been
exhausted, and prices declined csc. Shorts
and brokers supposed to represent the bull
party took hold, and 17l2c rally followed
after the selling pressure was removed.
May pork opened at $3.50, sold at S13.15@
1910, and closed at S13. 22I2. May lard sold
Mt S7.47l2@7.50 and closed at 81 .47l2. May
short ribs sold at $7.10@705, and closed at
&.10.
THF QUOTATIONS.
The leading futures ranged as follows:
Wheat-No 2, May, opened at 76s4c, closing
at 77ssc; June, 77ssc, closing at 777sc; July,
778sc, closing at 77a4c Corn-No. 2, May,
50lsc, closing at 51l2c; July, 5OAc, closing
at 515sc. Oats-No. 2, May, opened at 3Oa4c.
closing at Sic; June, 30l2c, closing at Sic;
Zuly, 297Sc, closing at 30Ac; August, 26Sc,
closing at 27lsc; Mess Pork, per bbl-May
opened at $3.50, closing at $l3.32l2; June,
1885, closing at S13.32l2. Lard, per 100
!bs--May opened at S7.4712. closing at
E.4712; June, $3.50, closing at $7.52I2;
July, S7.60, closing at S7.57l2. Short Ribs,
per 100 lbs-May opened at $40, clos
IT, St ? ju s s72 s sF2o closing at y St
Cash quotations were as follows: Flour dull
and steady but unchanged. Wheat-No. 2
spring, 72ls@754c; No. 2 red. Sic. Corn
No. 2, 49l2c. Oats-No. 2, 27l2@27&4c.
Rye-No. 2, 58@5Sl2c. Barley, No. 2. 77@
7Sc. Flax seed-No. l S1.45, prime timo-
shy seed S2.6l@2'62. Mess pork, per bbl,
b13.15@13.29. Lard, per 100 lbs, S7.45.
Short ribs sides Qoose), 81; shoulders
lboXed). 5000: 10; short clear sides (boxed),
rnndS L. nal q t. SnmarcN CT laaf Il