St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-06
The Feature of the Early Trading Was
Raid on Pork and
Lard.
Provisions Were Excited and Weak,
and Wheat and Corn Strong
and Steady.
Transactions In the Financial Circles OF
Wall Street.-The General
Quotations.
Enecial to the Globe.

morning. The feature OF the carry tIauihS
was raid by Ream, Wright, Cudahy ana the
Armour interest. They sold pork OF to
3d. 7l2, and ribs down to S7.12l2, lard also
showing weakness, at S7.62l2. Ream offered
any part of 10000 barrels. The market sub
sequently advanced to $13.S7l2 on buying
by Armour & Co., who were seemingly more
anxious to find buyers for June than they
were to break prices. Provisions were eX-
cited and weak through and through. ne
ceipts of corn were 4l7 cars, l6O cars ABOVE
the estimates But not bushel OF II Sradeo
No. 2. Corn cables, too, tended down, ana
the local speculative sentiment was Dearlsh
at the opening. May sold down to 52Ac.
The tone of the speculation soon changed
and the price went to 525sc. Wheat had a
weak opening and sold off to s0I4c. But it,
too, rallied easily, and within an hour was
quoted at SO5sc The changes in the visible
supply figures as shown by the secretary S
statement are as follows: Wheat, 95665O
bushels decrease; corn, 295, 233 bushels in
crease; oats, 49, 97 bushels decrease; rye,
$3.50 bushels increase; barley, n, l04 bush
els decrease. The foregoing statistical in
formation was all on hand and digested be-
fore II o'clock, and later the additional item
was circulated that the estimates for to-mor-
on account of the expense. New York re-
ported fair export inquiry and buying Of
futures for foreign account. Locally the
market was firm after the initial sagging, and
it remained so until the end. There
was good buving by Jones, Mccormick
d. Kennett and other strong houses, and the
temper of the crowd inclined to the long
side. The weather cut a figure, too. The
hot oil aSfnr1oV furnpU ont not To be
general, while the freeze extended over a
wide area. This offered the crop killers
chance for honest endeavor in the mission
ary line. and they made not a few converts
to their faith that the cold weather had al
ready done great damage to winter wheat.
The steady melting away of the accumulated
stocks which are far from excessive as COM
pared with supplies of recent years OH CORE
spending dates, is another very impor-
tant factor. Foreign news, while not
particularly bullish, is certainly not such as
TO cause depression. The price Of May wheat
was S05s6l sOs4c most of the forenoon,
and Just before the close it made
still further slight gain. Taken the day
through trade was light but seasons of ac-
tivity occurred to vary the monotony, and,
altogether, the day was not one of unalloyed
preceded it, Corn was 'gamy'' after the first
hour 1t was the lively market of the day,
and was firm and strong at material ad-
vance over Saturday. May jumped to 53Ac,
and thereafter it was strong at and above 33c.
A hot battle was fought at 53c, but the mar
ket took the large offerings at that point and
rose buOyantly. Hutchinson turned buyer
again to-day, bidding for stuff on bulges
and breaks. He has evidently undergone one
of his sudden changes of heart. The price
at the close was 1lsMli lac above Saturdays
last quotations in corn and 5sGbS4c above
Saturday in wheat. The close in grain was
ABOUT Mt the top. Afternoon session: The
markets were irregular, beng stronger and
higher early, but weaker and lower LATER
Closing sales were at 4c decline OH wheat,
lsGl14c on corn, SSc Oh oats, DC on pork, but
steady ON lard and short ribs.
THE ROUTINE REPORT.
Chicago. March J.-The opening of the
market on change was devoid of any special
feature first sales being at about the same
figures as Saturdays close. For a short
period general weakness prevailed, fractional
declines being scored. Operators, however,
were inclined to go slow, and before the first
hour had passed a decided change came over
the grain pits Under the leadership of corn
activity reopeued and the whole grain list
developed surprising strength and advanced
sharply. There was considerable selling of
wheat by the crowd early. but one house alb
sorbed all that was offered, and trading set
tied down to a scaiping business, the strength
in The market coming entirely from corn.
The decrease in the visible supply,
946, 0G0 biz. was considerably less than
expected May opened at S03B6DS012c.
declined to S04c, and then advanced to
SO7sc reacted TO S05sc, then advanced to
Sic and closed at S0a4c Corn was active,
the largest trade seen in weeks being trans
acted. The market gives signs of broaden
ing Country spectators are sending in
more orders Nearly all the big local traders
took hand i'll the trade ana one of the
largest operators bought about all morning.
The crowd. was thoroughly scared. Shorts
rushed to cover freely, and although there
was free realizing by holders who bought
last week, prices kept almost steadily UP
grade ana advanced Use from inside figures
and closed at about 1c above Saturdays late
sales. May opened at 52S8c, sold up TO 53l4c,
Teceded TO 53c, became stronger and sold to
535sc and closed at 53S4c. Oats were
firm and under good demand
May and June advanced, sS@l2c;
317sc. June ranged between 315s@32sc,
and closed at 317sc. In provisions the week
opened with the old bear lot intending TO
give more attention TO the market yet sales
were made at Saturdays closing prices to
shade easier: but before the trading showed
much life depression was forced by excess
i've offerings. Under the lead of pork the
market suffered weakening tendency and
ruled lower. Pork sold off I7I2c from the
opening prices, and short ribs also. Lard
was overlooked, practically, in the bear raid.
As the day advanced pork and short ribs re-
covered from the break and ruled strong
Speculation was fairly active when compared
with the dizziness prevailing. May sold at
$13.77l20l3.93 for pork, S7.61l2@7.70 for
lard and $720@17.25 for short ribs, and
closed at $l3S7l2. $7.70 and $7.22l2, re-
spectiyely.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. ., April, closing at 76$sc; May
opened at S0Ssc, closing, at S0s4c; June,
sO7sc, closing at size: July, S0Ssc, closing
at 91lsc. Corn-No.2, March, closing at 49lsc;
May opened at 52ssc closing at 5324c; June,
521sc, closing at 53c July, 524c, closing at
53Ac. Oats-No. 2, May opened at .3lssc,
closing at 3l5c; June, 3lasc,, closing at
May opened at $685., closing at $1397la;
June, $13.97I2, closing at $13.97l2. Lard,
per 100 lbs-March opened at $3.50, closing
at $7.6212: May, $7.67l2, closing at $40;
June, S7.72!2, closing oo at $7.72i2; July,
100 lbs = May opened at $7.25,
closing at $7.32l2; July, $737l2.
Cash quotations were, as follows: Flour
quiet; prices steady and unchanged. Wheat
Corn-No. 2, 81 15@53c;. Oats-No. 2, zoe.
Barley-No. 2, 77@77I2c. Flax Seed-No.1.
$1.45. Timothy Seed-Prime, 81. 1S@2.50.
Mess pork, per Dbl, $3.50; lard, per 100 lbs,
S7.62l3; short ribs sides Qoose}, $7.12l2@
us; dry sailed shoulders (boxed), S6.O712;
short clear sides (boxed), $6O7@6.12. Wits.
key, distillers' finished goods, per gal, $1.l5.
Sugar-Cut loaf, 7@75sc; granulated, 7lsc;
standard GA" 6s4c. Receipts Flour,
$4,000 bbls; wheat, %, 900 bu; corn, 151, 900
blu; oats, $4,000 bu; rye, 5000 bu; barley,
81 900 bu. Shipments-Flour, $4,000 bbls;
wheat, l 900 bu; corn, II 900 bu; oats,
On the produce exchange to-day the butter
market was unchanged. Eggs unsettled at