St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-13
The COMMERCIAL RECORD.
Grain Markets Opened Weak and Lower
and Closed About the
Same.
Provisions We're Dull With Downward
Tendeney---No Life in Any
Market.
Transactions in the Financial Circles OF
Wall Street.-The General
Quotations.
Special to the Globe.

Special to the Globe.
CHICAGO. March 12-The grain market
opened weak and lower. Heavy receipls VI
corn-5l1 cars-gave the tone 10 the market
first and started selling in the corn PIT. May
corn sold down to 51ssc the first hour'
shriukage of ssGlslc from Saturdays close.
Trading was less active in corn, however,
than in wheat. Cables were discouraglng,
and MS weather conditions outside OF com
paratiyely small area were not bullish specu-
iative sentiment rapidly crystallized. me
whole range of futures declined hs0&c by
1890 O'Clock as compared with Saturday
quotations, and the feeling was shaky at the
decline. Provisions we're dull, with down.
ward tendency. Early quotations were
S14.15614 O7I2c for May pork, S7.2ll2@
725 for May ribs and $40 for May lara.
The breakdown in the telegraph wires pc
tween here and the seaboard lnterfereo VIII
the volume of business, and after the first hour
the markets became very tame. Iraolng was
entirely local, and as news from the outside
was scarce article the traders had TO rely Oh
themselves for material to work on. New
York reported that at the opening not to ex-
coed O. dozen men were OH the produce ex-
change. The number was ample for the
transaction of business. The storm also pre-
vented the secretary from getting the statis
tics of the stocks and the visible supply state
ment was too late to be of any service FROM
the figures at hand q decrease OF 3Oo,oou
bushels was estimated, which was about as
predicted Saturday. The meager cables
were bearish in tenor. There was nothing
especially significant in the dealings III
either corn or wheat to-day; the business
was light and the market was steamer.
After the early decline Pool, Sherman q 20.
held corn, and Hutchinson covered mooer-
ately in the wheat pit. Corn moved up rather
more easily than wheat, going from o1l2c 10
SIC, but settling back the moment muscle
was withdrawn. In both wheat ana corn
large amount of property came out on stop
orders Outside orders were so lew tnat tney
gave no support to values, and had IL not peeh
for the individual buying referred TO prices
would probably have gone considerably
lower. The short interest i'll wheat is con-
centrated in few veteran operators VINO
rarely trade in the bull side of the deal, and
who will not be frightened in on the rallies,
as the more inexperienced sometimes are.
They have had almost uninterrupted success
for years and cannot be stampeded The pub
lie cannot sell at current low prices
of wheat, and does not see any encourage
ment in the situation to buy hence the mass
of spectators stand idly by and do nothing.
Provisions were made lifeless during the last
two or three hours Of the long session. In
deed, taken from beginning to end, the day
was phenomenally stupid. 1t was almost
without an interesting feature. AT the after
noon session weaker feeling developed IN
grein, and prices declined 14c on wheat and
CSC on corn. Provisions are steady. 2:30 p.
Arri
75lsc; May 799sc; June, soc. Corn-March,
47asc; April, 474sc; May, 51l2@ol3sc; June,
5lss@51l2c. Oats-May, 31lsc; June, 31Ac.
Pork, SIS 97I2; May, Sl4. 10; June, S14.12l2.
Lard-March, S7.65; May, S7.7o@7.72la;
June. 81. rs. Short RibS-March, $3.50; May,
S7.27I2; June, S7.35.
THE ROUTINE REPORT.
CHICAGO, March 12.-Cables were dull and
weak and brought no encouragement for
holders of grain on this side. Telegraph
communication with the East was almost en-
tirely cut off by the heavy storm in New
York. Operators were usually bearish, and
the dullness and absence of supporting Or
ders tended to make them more SO, and in
dueed liberal selling by local scalpers, who
had things their own way. Wheat was heavy
during almost the entire session. The bulls
seemed to have lost whatever nerve they pos
sessed, and manifested no disposition to
trade The bears were emboldened by the
dragging tendency of the market and sold
with more than the usual freedom, and
forced prices down ssc without much effort.
The visible supply was expected to show
decrease of 100000 bu, but complete returns
from the East have not yet arrived. owing to
the storm. Taking the points heard from, the
statisticians make decrease OF about 700
600. Large operators sold freely during the
morning, but after midday business became
slow and fluctuations narrow. The close be-
ing weak a! almost inside figures. Opening
sales were at slight advance, S0t9SOl2c, for
May; sold to 797sc, rallied to soc, broke to
79S4c, and closed at 1890 The deferred
futures came i'll for attention and were sold
with considerable freedom. The volume Of
business in corn. Slightly exceeded that in
wheat. The opening was weak and shade
lower at 52lsc for May. A decline 10 51s4c
occurred the first half hour, but was followed
by rally to opening figures. Receipts were
511 cars, a considerable increase over esti
mates. This started general selling move
ment and i'll less than an hour the price was
down to 5l12c. Shorts covered freely on the
break, good deal of long stuff came out and
the market remained nervous, fuctuating
for several hours between 51l2051s4c, and
finally touched SIC, but weakenedand closed
at 51l2Gl5 SEC.
The visible supply, as far as made up
showed no change of importance either way
The oat market was dull and featureless
May oats opened at 31Ac and closed at314c.
June closed st lac 1t was dull day in
provisions. There was little or no outside
trading and barring little buying of pork
early by an old-time bear and Il house sup
posed to represent leader on the long side
of the deal, the business transacted on local
account was barren Of special feature. Dull
ness held full control, and in short ribs and
lard the fluctuations were unimportant. May
pork sold at Sl4.O7l2@14. ID and closed at
Sl4l0. May lard stood at $40 most of the
and closed at $7.7O@7'72l2. May short ribs
sold at S7.25@7. 27l2.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 9 spring, April closed at 75lsc;
May, opened at 80lSc, closing at 79ssc; June,
s0ssc, closing at soc; July, s0l2e, closing at
closing at 51l2c; June, 51s4c, closing at
51ssc; July. 52lsc, closing at 51s4c. Oats
No. May opened at 31Ac, closing at 31lsc;
July 31Ac, closing at 31Ac; August, 2734c,
closing at 27Ac. Mess Pork per bbl-May
S14.I7l2c, closing at Sl4. i2l2. Lard, per 100
ibs-Ma1ch opened at $765; May, $40;
June, $7.75, closing at $7.75; July, $3.50.
Short Ribs, per 100 lbs-May opened at
$7.27l5, closing at 81. 27l2; June, $7.32Ac,
Cash quotations were as follows: Flour neg
lected and prices unchanged. Wheat-No 2
spring, 74S@7724c. Corn-No. 2, 50s4c.
Oats-No. 2sl2@3Ol2c; Rye-No. 2, SOC.
Sill: Prime timothy seed, s35$ Mess
@7.65. Short ribs sides (oose) S7.25; dry
sailed shoulders (boxedl; S6@6.1O short
clear sides (boxed), S7.6O@7 65. Whisky
Distillers' finished goods. per gal, $l.l5.
7.06c; standard "a" 6.69c. Receipts
Flour, %, 600 bbls; wheat, 10000 bu; corn,
$4,000 bu; oats, 129, 600 bu; rye, 1000 bu;
barley, 10000 Blu. hipments-Flour, $4,000
oats, 10000 Blu: rye, 1000 bu; barley, IL
900 blu. On the produce exchange to-day
the butter market was steady; creamery. %
@29c: dairy, 17l2@25c. Eggs unchanged at