St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-13
The COMMERCIAL RECORD.
Cne Big Local Operator Bears the Wheat
Market a Full Half
Cent.
sensational Rumors Let Germ Down a
Peg, and Oats and Provisions
Follow Suit.
Financial Operations in Wall Street.
The General Quota
tians.
Special to the Globe.

Special to the Globe.
CHICAGO, July l2-Before the opening it
was asserted that Chicbgo's closing figure,
S1ssc, was the cheapest in the world except
Liverpool, and Liverpool people were buying
here at that. The break at the opening seemed
to assure the bulls, as it generally does, but
that assurance proved false. as it often has
before. The constant feeding which has
been done by the big bear firms completely
gorged the other side, and when the break
came there was nothing to stand upon.
About noon the market managed to reach its
opening price and a little later it was forced
up 10 5s@.s4c. There it stuck for quarter OF
an hour and then rapidly broke, going to 1sc
at 1890 o'clock. The causes of the de
preston were variously assigned. Corn was
less firm to-day, the tendency of speculative
values in fact being sharply downward be-
fore the final close of business. Based on
yesterdays closing, there was an
actual shrinkage in August and Sep
TENDER of 7sc, and in october of ] Ac. The
cash movement has fallen off percepubly
both here and at the seaboard, and the
speculative market was sadly lacking to-day
in outside support. August sold down from
49Ac at the opening to 4Sc, and at the close
4Slsc was bid. September rested at
DSsSS'AA
for all months The provision market was
not very active; ribs led in interest. and it
was rumored that Armour was the chief
BUYER The general market was stronger.
Pork closed unchanged; lard 5@7l2c higher,
and ribs 2I2@oc higher. Cash produce was
higher.
THE ROUTINE REPORT.
CHICAGO. July l2.-One big loccl opera
ator was the bugbear of the wheat pit to-day.
To begin with, there was not the same
amount of bl II news from the other side as
on Wednesday. and cables were less encur-
aging The ciearances were very light. only
80. 900 bu at New York while primary re-
ceipts were nearly 3O0.0 900 bu. These things
were all lost sight of by the crowd. 1t was
heavy scalper va long Big line of wheat.
The trade, knowing his headlong way of do
ing business. feared he might dump his load
and break the market. This fear caused
as the rumors varied, the prce went
up and down, but all the while with
downward tendency. The range the first
hour was between S0s9S1ssc for August
to S0l2c, and when it failed to get up 10 Sic
again the crowd feared the big SPECTATORS
wheat was being sold by unknown brokers,
and there was a second unloading by the
SOC with considerable excitement.
September sold between S0@S1lsc
December at s26S3Ac.
When August reached the 90-cent point
the second time, shortly before the close,
there was struggle for a reaction, and on
slight rally the closing price at l p. m. was
S0IsQ S0Ac, or exactly l2c under the close
yesterday. July closed at Sltsc,
September s05sc, December $3.50. There
was less favorable movement of corn
to-day here and at the seaboard. The cash
demand was not so good as on previous days.
There was talk of hot corn, because of pub
lished Item regarding the condition OF some
No. corn recently taken from an elevator
here. The sensational selling out i'll the
wheat pit and a fear that the same thing
might occur IL corn, helped by some
raiding caused the decline of lie or more for
the session. July sold from 4S7sc down to
4S1sc. September closed at 4Ss4c. and Octo-
Der at 467sc. Charters were very light.
In oats, as compared with yes
terday's closing quotations, there. is
for the leading deliveries. The market early
in the session was inanimate. Toward the
close more business was done, but values
were not benefited materially. Favorable
weather for the crop and weaker markets
for the leading cereals were the main intlu-
ences in producing the changes where Sc
cured. July delivery declined ssc and
closed l2c lower, while August September
the inside; yea and May deliveries not ma
terially changed A weak and unsettled
feeling developed in provis ons during the
first half OF the morning, and lower prices
were recorded in all speculative articles.
lard $50; short ribs $7.45- Shorts
appeared more disposed to cover. Strong
parties who have been believers in the stuff
came in and bought purchased short ribs
up Zoe, last sales being at $3.50, gain of
DC over yesterdays close. Lard received
moderate attention and August sold at
Ss.l7l2@S; 25. and closed at the top. gain
year ranged at 81. 4GD7.45, and January at
S7.35@7 40. August pork advanced to
$500 and closed at S13.i71a.
THE QUOTATIONS..
Wheat-No. 3 July opened at S212c, closed
at s15sc; August S1Ac, closed at sOlsc;
p sets%sssF sse e SlSssd at ss Ss
Corn-No. 2, July opened at 1850, closed at
TENDER ,49l2c. closed at 4SAe; October
4Slsc, closed at 467sc. Oats-No. 9. July
opened at Sic. closed at 81 lsc; August 257sc,
closed at 25ssc; September 29lSc, closed
Mess Pork, Per Bbl-July opened al
at Sl3.O7!2, closed at SIS. 17l2; September
$500, closed at Sl3. 22l2; October, SIS
opened at $50, closed at $3.50; September
SS.17l2, closed at SIS. %; October S. l7I2
closed at SIS. %; year. 81. 40, closed at 81 80
Short Ribs, Per 100 Lbs-July opened al
% I'D. ClOseO AT SI.o-h2. August. CI.4If2
closed at $3.50; September, 81 ,55, closed a
S7.62l2 October, 1855, closed at S7.62l2
Cash quotations were as follows: Flour
Quiet; unchanged. Wheat-No. 2spring, 81
nominal. Corn-No. 9, 4sIsc. Oats-No. 2
3l@3ll2c. Rye-No. 2, 53c. Barley
No. 2, 62Q63c. Flax Seed-No. l, Sl.10@
Sill. Prime timothy seed. 50. 40. Mes.
Pork-Per Dbl, S13.15@13.20. Lard-Pel
100 lbs, S.. 10@S.12l2. Short Ribs-Side.
Qoose), S7.50@7.55; dry sailed shoulder!
(boxedl. S65Uf6.62I2; short clear side.
(boxed) $3.50 OBSERVATION-DISCLOSURES finished
goods, per gal, S1.2o. Sugars, cut loaf, 1850
69sc: granulated, 6l2@7c: standard "a" SIC
Receipts - Flour, l4,0C0 bbls; wheat, ID,
600 blu: corn. 61 900 bu; oats, 1O3, 900 bu
rye; LOCO bu; barley, 1000 bu. Shipment
AFlour, 5000 bbls; wheat, 5000 bu; corn
$4,000 bu; oats, II l ,OC0 bu; rye, II ,OOt
bu; barley, 1000 bu. On the produce ex
change. today, the butter market WIS some
what tirmer; creamery, 15@tlSs4c; dairy
12l5IT 1Hl0c Eggs steady. fresh nand1nI