St. Paul daily globe., 1888-01-30
The COMMERCIAL WORLD.
There Was an Abundance of Both Wheat
and Corn and the Market
Was Strong.
Provisions We're Active on Declining
Scale. and the Market Is
Evened Up.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.

opened strong, but there was an abundance
of both wheat and corn for sale from S2S4c
down 10 S2ssc, and corn in abundance was
offered at 55Ssc, and from there down TO
52ssc. Boyd. Paxton Il Boyd, Hutchinson,
and the crowd in general were sellers. Pro-
visions, too. were active on Il declining scale
of prices. May pork sold from S1d.75 down
10 Sl4o7l2; May lard from SITE 10 $40,
and May ribs from S7S5 TO S7.75, all
within thirty minutes AT the decline
the market seemed passably firm. The
tendency of all the markets after the
initial firmness was toward a lower
range of values This tendency did not de
Velop into positive weakness in grain until
later, aud i'll provisions the early break was
followed by wearisome season of mactlon
with prices remaining steady al the decline.
The Anglo American company has been dis
covered 10 be pretty well out of its big line of
pork. having unloaded most of il on the
shorts yesterday and this morning. The
market is now more nearly evened up than ii
has been for ninety days. There are yet
few good-SiZed blocks of pork held for I'M
known parties, and the country is cliuging
10 the remains of what was once Il large
popular deal, but the great mass of holders
are ont of the market. The Hebrews who
were in the Bloom syndicate are supposed 10
with the Fowlers' lines greatly reduced, the
air is clearer. Several large short lines are
still undisturbed. Cudahays being the most
notable one Armours interest is still sup
posed TO be the same way, though the trade
is already beginning 10 speculate as 10 when
he will take hold of the deal. Latest esti-
mates place the shortage in the Western
packing al 30, COO hogs, which is offset by Il
reduction in consumption, aS shown by ship
ping statistics of products, equivalent 10
100000 nOgs. This Will leave total stocks
in the West fully up 10, if not in
excess of, estimates for next year on
the first of next month. Old Hutch con-
fined his operation in wheat this morning 10
moderate selling of May and the purchase of
about 500. 600 bushels for February delivery.
n oney is getting plenty and easy, and the
old gentleman sees a profit i'll carrying cash
wheat, evidently. Trade in wheat was OH a
scale of fair magnitude. Along about noon
the market turned down and slid off to Sl1sc
for May, which is only fractionally above the
point of yesterday. The boom was short
lived. 1t wilted easily. The close was weak
at about bottom figures. Corn sold Off to
524sc,- breaking sharply i'll sympathy with
wheat. As in wheat, about s4c OF yesterdays
advance was lost. Wheat and corn cables
were somewhat conflicting. but their aver
age tenor was, Oh the whole, unsatisfactory.
Estimates point TO a decrease of 100000 TO
$4,000 bushels of wheat this week.
THE ROUTINE REPORT.
CHICAGO, Jan. 2S.-The bulk of the trading
ON change to-day was done during the first
hour. Many of the smaller operators tailed
on later yesterday who had not the courage
10 carry their deals over TO next week. The
first thing this morning was grist of small
realizing sales, which sent prices down Ssc III
hs,T alaa.,F
and l5c in mess pork This was all accom-
plished before 10 30 a. H.. and for two hours
following the pits were duller than at any
time since the year began. The action OH
the wheat market toward the close was very
treacherous. Thirty minutes before the
close. the bears moved OH the pit
again and prices went down S4c
per bu from the first sales of
the day. Ii was purely local scramble how
ever, and in no way indicated future feeling
in wheat May wheat opened at S2S4c sold
at S2Ssc, reacted TO S25sc, and during the sec
ond spurt of the bears broke to and closed at
S17S@S2c. Corn was weak and heavy from
the opening TO the closing. The selling began
by realizing as in the wheat pit. and after
dullness most of the session, there was quite
sharp decline of Ss@s4c before the close
cry '' that S the 51 buyers of s Yesterday atssHS
were not attempting to support the
market and by the further discov-
cry that several prominent receivers
position to pound prices and it was not diff
hcult under the circumstances Nav corn
opened at 53Ssc, and sold down TO the clos
Ing figure. 527sc. There was bearish feel
ing in oats as in other grains. There was
some demand for January and sales were at
3O4c. Provisions were also bearish and par
ties who were buyers yesterday were sellers
to-day, and there being insufficient support
a weaker feeling developed and sharp de-
clines were recorded, last sales being at in
side figures. and recorded loss of 22I2c on
pork and lOc on lard. May pork opened at
$l4. %. declined and closed at S14.50. May
lard broke from S7.75 TO 7.65. Short ribs
remained quiet with sales of May at 81. .75@
7.S5.
THE QUOTATIONS..
The leading futures ranged as follows:
Nheat-No. February, 765sc, closing at
1850; March, 774c closing at 76ssc: Nav
s2s4c, closing at Sl7sc: June, S3Isc, closing
at S2Ssc. Corn-NO. = February, 4SI2c.
closing at 4sc; March, 4s78c, closing at
January, 30l4c; May, 33lsc closing at :33c.
Mess Pork, per bbl-February, closing at
SLID; May, SLID; closing at S14.5O.
at S7.47l2; March. $3.50, closing at 81. .52I2:
May, S7.72l2, closing at 81 90; June, $50,
closing e6e n at $500 n2l2' Short Ribs, per
$50; May, SIS Closing % at s7.75.
Cash quotations were as follows: Flour
continues dull and neglected: winter wheat
S250@4. 80; spring. S175@4.2O; rye, 81. 20
spring. 757S@71c; No. 3 spring 66Isc: No.
red, soc. .Corn-No. =, 4Sc. Oats-No. =.
30c. Rye-No. ., 63c. Barley-No. =. $40
s5c. Flax Seed-NO. l. 81. .46(l ]. .46l4.' Tim
othy Seed-Prime, S2.47. POrk-Mess. per
Dbl, S14.12I2@l5. Lard-Per 100 lbs,
81 47I2M1.50. Short Ribs-Sides Ooose).
$3.50: dry salted shoulders (boxed). s.. 900
q: short clear sides (bOXedD, S7.95G1S.
bu; corn, $4,000 bu; oats, I07, 900 bu; rye.
5000 bu: barley. $4,000 bu. Shipments
Flour, 1900 bbls: wheat, 1000 bu; corn.
$4,000 bu: oats. $4,000 bu; rye 5000 bu:
barley, 2S.000 bu. On the produce exchange
to-day the butter market was quiet and un-
changed. Eggs quiet and unchanged.