St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-12-12
Sealpers, Big and Little, Attack the May
Wheat, and the Price Drops
One Point.
Corn and Oats Fairly Active provisions
Weakening at the Close Under
Heavy Sales.
Financial Operations in the Monetary
Centers-.-The General Quo
tati0ns.
Snecial to the Globe

big operators turned scalpers instead OF
doing nothing. Cables were firm with Amer
lean futures advancing. Closing cables gave
the market at Liverpool higher. Receipts in
the Northwest were lighter, Minneapolis re-
ceiying 1855, 900 bu. There were no Atlantic
coast clearances, and no American wheat re-
ceived at Liverpool for three days. Receipts
here were SO cars with no No. 2 spring re-
ceived. The market was at the mercy of the
scalpers, big and little, with no new outside
influence of Importance. Prices were steady
at the opening. because there was little
wheat for sale. December was quoted early
at S1.O4I2, January at $1.O5I2@1. O5s4.
May sold at 81. I034@I. 1Ol2, to S1.l1lSD
S1.1Oas. About noon the price was at
81. 1923, a fraction over last night, when
few brokers began selling freely for Linn
and others. and the price went Off lie, to
81 .O95s. This encouraged the bears, and
they pounded the price to S1.O9ss. or lac
under the outside price of the morning. At
1 p. m. there was struggle in the pit, with
the price holding about S1.O912@1. 095s.
Just before the close May wheat touched
Sl.093s the second time, and the close was
at S1.O9l2, or 1c under last night There
was some disturbance in corn to-day.
Hutchinson was buyer early and prices
were held firm. There was break in prices
at New York, which caused weakness for
cash and selling for December here. This
caused a depression of about "A C for futures.
When the car lots for Wednesday were made
known at 333 there was temporary rally.
Prices were weak again at the close with
wheat. December sold at 347sc early and
closed at 34$sc. January, 347sc early down
to 34l2c, closing at 345sc. May, 37S4c, down
to 37l2cat the close. RECEIPTS to-day, 393-
cars. Cut ispection, 1876, 900 bushels. The
provision market was less active, and prices
were within narrower range than for O week
past Opening prices were loo lower for
ribs, sc lower for lara and 15c lower for
mess pork. Cudahy was credited with buy
ing through brokers while raidng the price
of pork himself. At the close the loss of the
morning was about regained in ribs and
lard, while January pork closed at S13. 4212,
or 7l2c under last night. Other closing fig
ures appear in the table below. Oats were
only fairly active and ranged lower for May.
Receipts 10 cars.
THE ROUTINE REPORT.
CHICAGO, Dec. 1.-THE ''bullish'' feeling
which set in yesterday was apparently
doomed to be of Short duration. The open
ing this morning was l4@l2c higher than
closing figures of yesterday, being continu-
alton of the frmness prevailing yesterday,
but the advance was met by liberal offerings,
and prices declined lac. closing about !c
lower than yesterday. shorts evidently
covered freely yesterday, ana there was less
demand from that source, as well as the
others. as the news to-day was not as favora-
BILE to the bull interest. Corn was quotably
easy, with trading of local character, fiuc-
tuations being within Ssc range. Opening
sales were at yesterdays closing prices, the
market ruling firm tor time. A large local
trader bought freely. but when he withdrew
from the pit, lac reaction occurred, which,
however, was soon recovered when the esti-
mates for Wednesday came in, they being
smaller than the recent average. At the
advance offerings became quite free, and an
easier feeling followed, the market closing "A
@SSc lower than yesterday. Oats were
moderately active, but unsettled. The near
futures were stronger, and advanced s4c with
very little trading, and after buyers with
drew, prices declined rapidly. Trading in
May was liberal, especially during the last
hour Longs unloaded freely, and prices
declined $s@l2c from opening figures At
the bottom. buyers took hold freely and a
slight rally followed. and the market closed
steady. Quite good business was trans
acted in mess pork, mainly in January and
May deliveries. AT the opening the feeling
was rather weak, and with free offerings,
and sales were made at 1Ot012l2c, decline
on Yesterdays closing figures; prices further
receded 2l2@15, but rallied 12l2@15c. and
ruled comparatively steady to the close. A
in lard at the opening, and offerings were
moderately free, at 7l2@10c decline Later
the demand was quite active, and the market
exhibited considerable strength. Prices raj
steady to the close. Considerable interest
was exhibited i'll the short rib maIket and
speculative trading was rather active. Early
in the day prices ruled 1o@12l2c lower.
Later the market rallied 5@7iac, and the
market closed steady at outside figures.
THE GENERAL QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. 2 December opened at Sl.O44;
closing, Sl.03A: January, $l.06, closing at
Sl.04l2; May. S1.1CS4, closing at $1.09l2.
closing at 34ssc; January, 347sc, closing at
34!2c; May, 37Sac, closing at 37l2c., Oats
No. 2 December opened at 2Gesc, closing
at 26l2c; January. closed at 265sc; May,
29l2c, closing at 29l2c. Mess Pork-Per Dbl,
1888. closing at SIS. 1912 May, $13.75, clos
ing at S13.77I2. Lard-Per lOOlbs, December
opened at S7.97l2, closing at SS.07l2; Janu-
airy, 1892, closing at $7.95l2; May, $s.O2l2
closing at $500; Short R db 100 lbs.
sG.o7l2; May, sos, closing at s7.o7l2.
Cash quotations were as follows: Flour firm
and unchanged. Wheat-No. 2 spring. SIO3
@1.034; No, 3 spring, $1,000; No. 2 red.
No. 2, 26l2c. Rye-No. 2, sic. Flax Seed
No. 1. S153i2 Timothy Seed-Prime
1852. Mess pork, per Dbl, $13 37l2@135O;
lard, per 100 lbs, $9.O5@S.12la; short ribs
boxed, S707. 1913; short clear sides, boxed
S7.37l2Gl7. SO. Whisky-Distillers finished
goods, per gal, S1.2o. Sugar-Cut leaf, 90
s5sc; graduated, 7l2c; standard A, Vac
Receipts-Flour, 6,00O bbls; wheat, $4,000
blu: corn, 262, 900 bu oats, 236. COO bu; rye,
$4,000 blu; barley, $4,000 blu. Shipments
Flour, 5000 bbls; wheat. 10000 bu; corn,
4,9sOOO bu; oats. 166, 600 bu; rye, 1900
bu; barley, 5000 bu. On the produce ex
change to-day the butter market was easy;
fancy Elgin creamery. 30@32c; choice, West
ern, 25@27c; dairies 24@25c; good, $50
zoe. Eggs dull; 21@2llzc.