St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-25
The COMMERCIAL RECORD.
Continued Warm Weather Had a Weak
ening Tendency on all
Grain.
Provisions We're Weak and Nervous,
With the Interest Centered
in Ribs.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Special TO the Globe.

spr;nslike-facis which sufficiently explain
the weakness in that grain. Receipts are
large 457 cars being on the inspection sheets
this morning and the sentiment in that cereal
Enthusiastically so. The rate cutting is
al last having its effect on the move
meat and Chicago is getting a good
deal OF com i'll spite of foreign
discrimination and harsh inspection.
What receipts would be were Chicago on an
even deal with the rest of the world can only
be couiecured. That they would be very
heavy goes without saying. Country cor
reSpoudence indicates the existence of plenty
of corn III The back country eager to come
forward. This morning early wheat for May
sold down 10 194sc, and corn down to
5Oitc a >hrinSage from yesterday
close OF L0 Ssc. Provisions were weak
and nervous. May pork ranged S14@13.95
early May ribs 3. 33@7.3O and May lard
S7.S507.>o. The tone of the grain markets
improved aS the day advanced. In wheat
the sentiment of some of the largest opera
tors seems 10 be undergoing change. From
being rampant bears they are taking TO
Preaching on the dangers of further
short selling II current prices Armour is
quoted ~ feeling very friendly TO wheat but
II i not stated that he is buying any Of it.
sill. wheat Will not be apt 10 suffer from
such influential friendships even though
nothing GENES of it. Partridge was one of
the largest buyers of wheat to-day. His pur-
Cha>e> are. presumably. 10 cover short
sales. Ream Is said have predicted
a rally more 81 the natural reaction theory
than anything else, probably. There were
good many scattering buying orders from the
winter wheat section. and correspondence
from country points on crop prospects is
rather less encouraging in tone. \ good
many writers note the Door appearance of
She ields ana the injurious effects of
Abe nightly freezes. On the other
hand, cables are weak, and bring
selling orders, offerings of Russian and In
dian wheat for spring delivery are reported
as being heavy. Hutchinson was a seller on
q large scale. and Il 100000 bu lot bought
yesterday by local operator came on the
market This morning. King, of Toledo, wires
an estimate Of 600, 600 bu decrease i'll the
next visible supply. Atlantic Ports-EX ports
Tor the week will approximate 100000 bu
wheat and flour. This is not a bad showing
in view OF what has been said about the
utter absence of a foreign demand. The
statistical situation continues to favor higher
prices. ana the speculative phases are less
diScouyagins. The May price ranged from
E9lac 10 soc this forenoon, with the
greatest irmneSs observable toward
reported large buying of spring wheat
for continental account, some dispatches
putting il As high As 10000 bushels. Ant
werp and Paris are quoted higher in the late
cables The shorts did more toward rallying
corn than anybody or anything else. The
local crowd has been oVerselling itself. and
this morning took alarm at the evident in
tention OF Hutchinson TO pick up June and
JUly. The scalpers rushed in to buy
these months. and their eagerness increased
as the market continued to display signs OF
renewed tirmness. The shorts traded among
themselves and pushed the price of May up
10 sc. June going nearly as high. Then the
market settled back fractionally, but another
nervous little squirt enliyened the pit just be-
fore the close andat last prices were nearly
at the top, and considerably better than
yesterday. In provisions the interest CEN
tered largely in ribs. The deal is again
getting ugly. and the bears are becoming ag-
gressiye. The outside is waiting for a break
10 buy on. a healthy increase in the con-
sumpuve demand. and inquiry was re
ported. At the afternoon session
there was decided activity in wheat
and corn. Buyers were encouraged on the
one hand and frightened on the other, and
prices advanced Ssc for wheat, I2c for corn
and lac for oats. Provisions were also
hrneE.
THE ROUTINE REPORT.
CHICAGO Feb. 24.-The heavy receipts the
spTing-like weather and Liverpool cables
which reported corn and wheat us dull and
tending downward. all had a depressing eff
feet on the early grain markets. May heat 1sc
The first selling of grains was by local
traders who were short in the market. In
wheat there was also some selling of long
wheat that was bought yesterday This com.
-nl Nov from 70
1850. At the bottom there was good buying
by several large houses. Reports of good ex-
ports OF wheat from New York came in as
the session advanced. This and the buying
by the shorts caused an advance il Nav to
SO9sc. at which figure it closed. In the corn
PIT the professionals were selling themselves
Short early. but little buying later by one
or two houses started all of the shorts to buy
ing. May corn. which had previously
sold OFF to 504c, advanced to 5U$4
@507sc inside of an hour. The trading
III corn was not very heavy, but there were
periods of strength during which a good
many small lots changed hands. The ad-
vance which the covering of shorts caused
was not checked until May had touched
3O'sGoIc' Wnen the closing bulge i'll wheat
occurred. May corn was carried up to 3 5Bc
where it closed. The transactions in oats
were all within l3c range for the leading
futures. May sold at 30s4c to open and Biz
03ll4c to close. The only trading in pro-
visions during the first hour was short ribs.
A sale Of 100000 lbs of May III a lump was
made ats. 3O6,7.32ls. There was big bust
ness in changing from one future to smother
Fluctuations were very narrow. Trading in
pork and lard WAS very inconsequentlal The
weak feature i'll ribs was the weakness of
March. People who were long of this future
were looking around for place for them
and they changed them with the more relia-
bile futures. May pork sold at SI395@
I4-02l2 and closed at the latter figure May
lard sold at S7.So@7S5. and closed at
81. S2is. May short ribs sold at s.. 3O@7. 35,
and closed al S7.S5.
TIE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. >, February, 745Sc, closing at
T32sc; March. 745sc. closing at 75$sc; May.
T9s4c closing at S0Ssc; June, soc, closing
at SO5sc. Corn-No. =, March. opened at
d6!sc. closing at 47c; May, 50s8c, closing
5Os4c closing at 51$4c. Oats-No. 2, May.
opened nj 30S4c. closing at 31Bc: June,
:8O7sc, closing at 3l1sc; August, 27a4c, clos
ing at sc Mess Pork. per bbl.March
May. SIi. closing at S14O2Is; June, SI4.05,
closing at lilo. Lard per 100 lbs-Mareh
s opened enc; at $40. closing at s7.72l2; May,
closing at S7.87l3; July, S7.95, closing at
S1:92ls. short Ribs per 100 lbs
FfssSTr1a ,ey Opened at SIS, closing at
Cash quotations were as follows: Flour
dali, neglected and without change. Wheat
No; spring, 75ls@77Hc; No, spring.
4SSsc. Oets-Eo. Q. 27A@294c. Rye-No. 3
59l2c. Barlcy-No. =, 770SOc. Flax Seed
No. l, sl.45. Timothy Seed-Prime, s.. Al
@2.45. Mess Pork-Per Dbl, Sl3.72a Lard
Per 100 lbs $40. Short ribs sides Ooosel.
S7.I2lsGB7. 10; dry sailed shoulders (boxedi''
s.. 9oG6.G5: short clear sides (boxed)
$I.9G@s. Reccipts-FlOur. IS, 900 bDls:
wheat, 10000 bu; corn, 315, 900 blu: oats
19A, 900 bu; rye, 5000 bu; barley, 66, COO
bu. Shipments-Flour, $4,000 bbis: wheat.
$1,000 bu: corn. 203. 900 bu; oats, 1SG, 600
bu; rye, 5000; barley, 1000 blu. On the
produce exchange today the butter market