St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-14
The COMMERCIAL RECORD.
Unloading by the Heavy Gathered
Longs Sets Wheat Back Full
SeVen-Eighths.
Sympathy and a Fair Amount of SLUG
ging Send Corn and Oats
Lower.
Financial Operations in Wall Street,
The General Quota
tons.
Special to the Globe.

Special to the Globe.
CHICAGO, July 13.-There was great deal
of long wheat unloaded to-day. From the
very opening the pit was full of sellers
anxious to cover before the break became too
serious. 1t was too sudden, however, and
several of the heavy buyers of yesterday and
the day before were sharply caught on the
rapid decline. Men who bought yesterday at
Slssc ru. b I'd into the pit this morning,
seemingly glad to close out at the
lowest figures. Again there were rumors
that some of these scaIpers were selling for
Hutchinson. Assuredly his accredited agents
did not seem to be disposing of any wheat.
The market would have declined more
sharply still, had ii not been that there sew
eral good shorts i'll the pit, buying with great
confidence. Among these were Boyd, Clarke,
Cudahy, ana other men of nerve, ana their
purchases were all that saved the market from
going below ssc on the first break. Even then
the figures only remained above that point
for little more than half an hour, breaking
sharply to 4c. This caused another fight;
and it broke again, touching 1sc twice. 1t
looked as if it was going to close at that
figure. but it rallied little and stood at
1880 at the end of the session. Several firms
have received dispatches which claim that
the next visible supply report viii not show
any material decIeas from present figures
There was desperate attempt made to bull
prices for com to-day, but the continued
weakness in wheat the fine weather. and
general local surroundings made 1t uphill
work. and about the only support the market
received was in the way of purchases by the
short interest. Fully 2,O0a 600 bushels were
carried by couple of local houses. October
was not as weak, relatively, as the less de-
ferred futures, but closing prices were lower
on the whole list. August sold from 4Sc
at the opening off to 4I14c, and closed
at 41$sc, or s4c lower; September declined
1lsc TO 474c, and October recededsto 46l3e.
being ssc off, Receipts continue rather light
There were engagements made during the
past twenty-four hours by lake shippers for
room aggreg; ny 3l3 900 bushels of corn.
In provisions there was a fair trade, with
prices shade hi yher than usual, closing SC
higher on pork 2Hc higher on lard, and TI2c
weaker on ribs. In the cash market there
was an active movement, with good export
demand.
THE ROUTINE REPORT.
CHICAGO. July l3.-Foreign adVices were
less bulIish i'll wheat to-day, and the fear OF
what a certain heavy operator might do, and
the belief that he has already disposed of
perhaps 100000 bushels of his long
wheat, caused further declines in prices: ex-
porters were also mild sellers at New York.
To offset this somewhat, the clearanceS of
wheat and flour at Atlantic ports were over
100000 bushels, with sc, 1000 bushels of
wheat cleared ut New York. The theoreti-
cal bulls were busy figuring on the wheat
crop of the world, and yet their courage was
not of the buying sort. There was selling of
any quantity of long wheat by bulls, who.
but for the relations the operator mentioned
has TO the pit, would have been increasing
their lines. Up to within ten minutes of the
close the bottom price was just l
night. August started at soc, sold at
79a4e, up to 797s, down to z9L2e'
1c lower than last night 1t was scalpers
market all the way down. September sold at
7984c, down 10 79hsc; December opened at
S3c, sold ut S24c, then went lower, with
other futures. August wheat closed lsc
under last night, at 7914c. Closing for other
- futures were: July, S05sc; September, 19lSc;
December slice; May, Soc. Good weather,
weakness in wheat and fair amount OF
slugging by professional raiders consplred
to take corn down a few points to-day. This
was made all the more easy because it was
known or imagined that the country orders
early weIj to sell. The movement of corn
was against the action of the market. The
out inspection here reached 3I2,OOe bu,
while receipts were many cars short of the
estimate, and only seventy cars OF the con
tract grade came in: The vessel room taken
for corn was quite liberal. July sold at AVA
0477Sc, closing al 47Ac. August went ffom
4Sc to 47l2c early, back to 477s@ISc later,
and, before the close, went off to 47Ssc, or s4c
lower E for the day. There was at times mes
range OF prices was narrow and prices
went lower with wheat and corn. July sold
at Sic. and down to 30SSc at the close.
August oats ranged at 2o@25l2c, closing at
25Ac. Year oats closed at 2478c. There
was fair speculative business i'll pork and
short ribs, but lard was quiet and steady.
Arrivals of hogs were light and prices 5@l0c
higher. At the opening an increased de-
mand existed from shorts, and it was sus-
pected that one of the big packers wanted to
buy, as his trader was in the pit bidding. He
only purchased l,500 bbis of pork. The
price advanced 11I2c, but after the buyers
withdrew, receded zoe, but became firmer
toward the close. The last sales were but sc
above inside figures at S13.22l2. January
sold at Sl2.S 5@l295 and closed at $3.50.
Short ribs were sold freely, but the market
held steady at S7.52@2.57la, and closed at
S7.55. Lard sold moderately at S.. 200S. %,
and closed at $500.
THE QUOTATIONS.
Wheat-No. 2. July opened at Sic, closed
at Su5se; August Soc, closed at 79l4e;
September 1890, closed ut 79lsc; Decem-
Der S2c. closed at S1I2c. Corn-No. 2, Au-
gust opened at 4Sc, closed at 47SSc; Sep
46s4c, closed at i6I2c; May 39Sc, closed
at 397Sc. Oats-No. ., July opened at Bic,
closed at 3054c; August 25a4c closed at
25ssc: September 2oc, closed at 25c; Octo-
Bbl-August opened at SIS 20, closed at
S13.22I2; September; S13.27l2, closed at
SI3.22l2 October, S13.25, closed at SI3. l7Ia
Lard, Per 100 Lbs-August opened at So %,
closed at $500; September, $50, closed at
SS.27l2; October SS.27l2, closed at S.. 27Is
Short Ribs: Per 100, Lbs-.August,
September, $3.50, closed at SZ62l2:
October, S7.56, closed at S762l2
Cash quotations were as follows: Flour
Quiet; unchanged. Wheat-No 2spring, s014
@S05sc; No. 3 spring. nominal; No. red,
S014c. Corn-No. ., 41Ac. Oats-No. 2,
30s4031c. Rye-No. 2, 53c. Barley
No. =, 62@63c. Flax Seed-No. 1, Sl.IO
Prime timothy seed, s.. 40. Mess Pork
Per Dbl. $500. Lard-Per 100 lbs,
SS.17l2@S.2O. Short Ribs-Sides Qoosel,
S7.5O@7.55: dry sailed shoulders (boxed),
S6.3C@G62t2; short clear sides boxed,
SS@S.o5. Whisky-Distillers finished goods,
pergal, SI.2o Sugars, cut loaf, Size; gran
ulated, 7ssc: standard "A 74c Receipts
Flour. 5000 bbls; wheat, 10000 bu;
corn. 70 900 bu; oats, 1l7,O00 bu Ship
ments-FloUr. 5000 bbls; wheat, 1000 bII
corn. $4,000 bu; oats, 5000 bu; rye,
1000 bu. On the produce exchange to.
day. the butter market was steady; creamery,
15l2@l9c: dairy, 13la017c. Eggs-Fresh
Nnrtharn 2loIT llp