St. Paul daily globe., 1888-07-18
The COMMERCIAL RECORD:
The Prices of ALI Futures From Wheat
to Short Ribs Take
Tumble.
Light Buying by Foreigners, Compiled
With Heavy Selling by Bears, the
Cause Of the Decline.
Financial Operations in Wall Street
---The General Quo
tations.
Special to the Globe.

SpeCldl 10 lue OlOpc.
CHICAGO, July 1.-THE market was ex-
tremely narrow all day. The shorts have
been pretty well filed up during the week
past, and there was little eagerness among
the buyers. The surfeit OF strong cables and
bad weather reports which we have had from
the other side has made the crowd, with one
or TWO exceptions, very tired Of bulllng. The
doubling up of receipts, together with
Hutchinson's continued unloading had de-
cidedly weakening effect on the market.
Hutchinson sold largely from the very open
ing. He parted with good deal of Septem-
Der at 79l2c and thereabouts. Roche at one
time tried a bull movement, bidding 1880
79s4c. He bid 1850 for 250.0OO bushels
August. Mitchell took plunge and bought
10000 bushels at soc. Schwartz & Dupee
and W. G. Mccormick d Co. bought little.
The selling, however, was scattered, and
there were few outside orders 1t is
thought by good many that there
is plenty of long wheat to
come out if the market continues
to break. The favorite point was T9l2c, the
market sticking thereabout for the longest
time, and closing there after weak attempt
al boosting on the part of some of the bulls.
The corn market suffered with wheat, and
from the same causes Baldwin g. Farnum
SS'NAN -
their October supply. September, however
had to bear the brunt of the pounding. The
whole tone of the market was weak. The
trading was general and the demand scat
tered. There were no particular features
Stauffer bid 39l2c for year. The effect OF
the wheat and corn markets was seen in pro
visions, where prices were lowered in spite
of the light receipts of hogs. General specu
lation was quiet, with no distinguishing
features. Pork closed 10c lower, lard 5@
7l2c lower, and ribs &c lower than yesterday.
THE ROUTINE REPORT.
CHICAGO, July II. There were several
things to make wheat weak to-day. The
representatives of foreign houses, who took
literally yesterday, were not buyers this
morning to any great extent The number
of shorts was greatly diminished by the TAX
ing of the Hutchinson wheat for several
days Hutchinson's brokers were still pre-
tending TO do business on the bear side. The
receipts here were considerably increased,
and the receipts ln the Northwest were very
large. The export clearances were but few
thousand, but this was partly balanced by
the amount Of flour moving away from the
sea board. Early cables were firm, but wheat
was weak and lower at New York. The
20U,000 bushels received at Minneapolis
yesterday and the $4,000 additional to-day
gave rise to the idea that the invisible supply
in the Northwest may yet be considerable.
Five minutes before the close futures
here were uniformly l2c, under the
close last night, although the range for
August was close to 1c and the price was at
one time nearly B4c under. August sold
79ssc and S0ls@ S04c; September Ta4@
1850 and S016c; December S17sc ana S234c.
Before the close August wheat rallied to
79s4c and dropped back to 79l2@79ssc
close. Other futures closed: July, Sllsc;
September, T95Sc; October, S1lsc; Decem-
Der, Sc Corn started this morning at 14c
under last night because the receipts, 399
q
than the general expectations. In addition
TO the large receipts there was pounding by
several local houses, and with no outside
support the market broke easily about lc
early. August sold at 78c and 46s4c. and
closed at 46Ssc or 5sc under last night.
September sold down to 45S4c. closing at
4GSsc. Oats we're quiet. Most of the atten-
tion of traders was turned to near futures,
while less than the usual interest was eX-
hibited in deferred deliveries, aside from
May which was without marked change
July opened steady and soon advanced
l2c to 3l&c, at which figure there was
but little trading. with the price soon reced-
ing to 3lc, at which there were numerous
transactions. August hovered around 25l2c
all day, and the following months about l2c
discount. Business in provisions were light
Arrivals of hogs were disappointingly small
and prices 5@Icc higher. The market for
cured products. however, was eaker and at
the close decline of 10c on pork, 7I2c on
lard and DC OH short rib sides was established.
the continued dragging tendency and decid-
ed to close out, and a number of small lots
were thrown overload. There was little buy
ing support, hence the moderate offerings
caused the weakness and define in prices.
August pork opened 7l2c lower at S133O
declined to Sl3.22l2 and closed at SI327la.
Lard was offered more freely than any other
article. August sold at SS.25@S. 32l2 and
closed at SS.25. Short ribs for August were
quiet at S7.65@770, and closed at 81 .65.
THE QUOTATIONS..
Wheat-No. July opened at S1SSc closed
at Sic; August, SUcls, closed at T912c; Sep
s0l2c closed at soc. Corn-No. 2 July closed
at 46ssc; August opened at 46s4c, closed at
46ssc; September, 4Gssc, closed at 46ssc;
October, 46ssc. closed at 457bc. Oats-No 9
July opened at 30s4c, closed at Sic; August,
25l2c; closed at 25l2c; September 25c.
closed at 247Sc; October, 25lsc, closed at 25c
Mess Pork, Per Bhl-August opened at
$3.50. closed at Sl3 27l2; September,
S13.42l2' closed at Si335; October, sl3.35,
closed at sI3.27; January, sl2.77l2, closed
at 1878. Lard. Per 100 Lbs-August opened
at $3.50, closed at SS.25; September,
$S.37l2, closed at SS.3212; october, s.37l2,
closed at $3.50; January closed at $50.
Short Ribs, Per 100 Lbs-August opened at
$40. closed at S7.65; September, S7.77la,
closed at S7.7242: October closed at 81. 72I2
Cash quotations were as follows: Flour
Firm and unchanged. Wheat-No. 2. spring.
red, S09sc. Corn-No. 2, 46Ac. Oats-No 9.
3Os4c. Rye-No. 2, 52@53c Barley-No.
2, 62@63c. Flax No. 1, S1.IO. Tim
othy seed--Prime, S2.40. Mess Pork per
bbl-S13.25. Lard, per 100 lbs, So 25.
Short Ribs-sides Qoose), S765; dry salted
clear sides, boxed, $s.1o@s.i5. whisky,
distillers' finished goods, gal, S1.20. Sugars
a. 7Ac. Receipts-Flour, $4,000 bbls:
wheat 81 600 bu; corn. 125, 900 bu; oats.
1913, 1000 bu; rye, 1 900 bu; barley, 5000 bu.
Shipments-Flour, 5000 bbls; wheat, 5000
1000 bu. On the produce exchange to-day,
the butter market was firmer; creamery,
15@19c; dairy. l3l17c. Eggs steady; fresh,