St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-16
The COMMERCIAL RECORD.
a Feverish Market, Resulting From
Heavy Unloading, Drops Wheat
a Fraction.
Corn Also Takes Fractional Tumble,
Oats and Heg Products Clos
ing Easier.
Financial Operations in Wall Street,
The General Quota
tons.
Special to the Globe.

Special to the Globe.
CHICAGO, July 14.-On the curb August
wheat sold early at 79l2c and afterward went
to 1850, but rapidly declined, under severe
hammering, till 10 o'clock, when it reached
79c. At that hour there was every evidence
of a still further decline. The cables showed
the Liverpool wheat market very quiet. with
poor demand, and holders offering freely.
At 1880 August wheat was 7Sa4@7S7sc, but
by noon it had recovered and sold up to
T9l2c. Baker was moderate seller Of wheat
before that time. Mathews sold August
heavily and bought December. Tom Sey-
mour in the morning offered to sell July
wheat 1I2c over August The rest of the
days business was mainly smalllo local trading,
the usual clearing up of Saturday. The price
improved pretty steadily after IL o'clock,
and closed at 79Ac. the same as yesterday
closing figures. There was quite heavy trad
ing in corn to-day, and continuation OF the
recent downward movement in prices,
though the actual shrinkage in the leading
futures was only ls@Ac. The local temper
was decidedly bearish, the really weak feat
ure of the market, aside from the fine
weather, being that most of the receiving
houses are long, and this, of course, repre-
sents holdings. The crowd, believing that
large share of this long stuff is weakly held.
is cunning for it. The range covered to-day
was 5s@s4c. The trading in provisions was
quiet. Stauffer, who represents Cudahy,
sold long line of pork for September from
$3.50 down to $500. Armour was the
chief buyer of pork and ribs. The market
was strong all through, pork closing dag
7l2c lower than yesterday. Lard was I'M
changed, and short ribs 2l2c higher. Cash
40 odd do dove i,,
export meats.
THE ROUTINE REPORT.
CHICAGO, July lit was a day of uncer-
tainties in the wheat pit, and the scalpers
had the market very largely. The lowest
points of the week were touched early, be-
cause il was believed that a leading operator
was selling the last of his long wheat while
his regular brokers were binding the crowd
by buying some. The slack condition of the
market and the failure of an unimportant
firm helped the early dip. New York sent
some bullish news, but they did nothing
cables came a little more bullish and re-
newed wet weather was reported in France,
where wheat is already very backward. A
few boat loads were taken for export
came from the wheat belt in this state
and also west OF the Mississippi. These in
fuences helped prices up nearly lie from the
very bottom. Then there was another de-
cline, simply from lack of support, and also
another rally before the close on the belief
that most of the long wheat had come out.
The range of prices was as follows: August,
79Ss@79l2c, down to 7Ss4c, up to 79lsc, and
then up to 79Ssc, where it started. Septem-
Der sold at 7S7sQI79 9sc, acting closely with
August. The market closed with August
wheat at 79Ac. Corn was active and unset
tied, ruling firm early and weaker later in the
session. Opening sales were about the same
as the closing prices of yesterday, was firm,
o,,6 oIx M a, So. ~,
then became weak, selling off ss@4c,
changed some and closed 1s0Ac lower
than yesterday. There was a fair de-
mand early from local shorts and other
sources but after they had been filled, offer
1ngs became heavy on local account and in
absence of any outside support, the market
ruled weak. In oats the first introduction of
the new crop was the only feature of any
note. Speculative trade was of rather small
volume, favorable weather and an easy feel
Changes in values were slight. July delivery
ranged 14c lower and closed 1sc easier. There
was no material change for October delivery
but September ranged l4c higher and closed
trade was reported in the market for hog
products. Early in the day the feeling was
easier. with fair offerings on speculative
account and lower prices were accepted.
Later the market exhibited a little more
strength and prices rallied again, closing at
about medium figures. Trading was confined
mainly to August and September deliveries.
Pork declined 10012l2c and rallied 5@7J2c
Lard fell off 2I2c. Short ribs also fell on 2I2c,
but recovered.
THE QUOTATIONS..
Wheat-No. 2, July opened at 8014c, closed
at SUssc; August 1850, closed ut 79Lc;
September 1880. closed at 79Ac; Decem-
Der s1Ec. closed at S17sc. Corn-No. 2,
July opened at 474c, closed at 47Isc;
August. 47ssc, closed at 47Ibc; October
46l2c, closed at 46Ac. Oats-No. 2, July
opened at 307sc, closed at 30s4c; August,
2534c, closed at 25Gc; September 25c,
closed at 25Isc; October, 25ssc, closed at
at s13.25, closed at S13.15; September
$3.50, closed at $13.2o; October, closed at
$3.50. Lard, Per 100 Lbs-July closed at
SS.15; August opened at $500, closed at
$500; September, SS.27I2, closed at
SS.27l2; October So. %, closed at SIS. 27Ia.
Short Ribs, Per leo Lbs-July closed at
S7.55; August opened at S7.57l2, closed at
S7.555; September, S7.65, closed at s765:
October, S7.65, closed at S7.65.
Quiet; unchanged. Wheat-No. 2spring, sOA
@S05sc; No. 3 spring. nominal; No. 9 red,
S014c. Corn-No. 2, 47Isc. Oats-No. d
30a4c. Rye-No. 2, 53c Barley
No. 2. 62@6sc. Flax seed-No. /, si.IO
Prime timothy seed, 81. 40. Mess Pork
Per Dbl, Sl3.15: Lard-Per 100 lbs,
ss:17la. Short Ribs-Sides ,1oosel, $3.50
S6.50@6.62l2; short clear sides (boxed),
SS@S.O5. Whisky Distillers' finished goods
per gal, S1.20. Receipts-Flour, 1t, 900 bbls !;
wheat, $4,000 bu; corn, $4,000 bu; oats
la, 600 bu; barley, LOCO bu. Shipments
Flour, 1000 bbls; wheat. 1000 bu; corn
295 900 blu; oats, 1850 blu; rye, LOCO Blu !:
barley 1000 bu. On the produce exchange
dow no lot, cell.