St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-05
THE COMMERCIAL RECORD.
Dizziness Was the Characteristic Of
Trading on the Chicago Board
Saturday.
However, There Was Nothing Particu-
larly Discouraging Noted in the
= Situation.
Transactions in the Financial Circles of
Wall Street.-The General
d Quotations.

Quotations.
?
Special to the Globe
: CHICAGO, March 3.-Corn opened strong at
Ac advance along the whole range OF fut-
ures. But there proved to be Unexpectedly
large offerings of property, and the market
began at once to ease off, May going from
52a4c to 52I2c and June from 52Ae to 81 nc.
Receipts were 207 cars, not one Of which
graded No. 2. The soc shorts must have
been pretty well driven in. Because the
support from shorts was not strong to-day,
Hutchinson came forward when the market
was most nervous around the OPEN
ing and passed his card around,
offering to sell all anybody and
everybody wanted at 52l2@521sc. The
crowd enshrouded itself in the wet blanket
and modified it's bull enthusiasm. Wheat
was featureless. 1t was strong at the OPEN
ing on the cold wave, but scrutiny of the
weather map showed that it was neither so
general nor SO severe as predicted. Cables
were steady. No outside orders to speak Of
were received, and trade was light. Provis-
ions were stupidity dull this morning, with
little doing. May pork was quoted at
l4.O5@1407Ia; May lard at S7.zo
off day on change The markets were dull
and weak. Both grain and provisions, corn,
which had been leading in the late advance,
was the leader again to-day, but the process
sion was headed the other way. The bullish
spirit is not gone yet, but there was so much
corn for sale that the market could not take.
Hutchinson has been unloading his long corn
for several days. His line of 100000 or
100000 being peddled out all the way up.
Yesterday
FOR A FEELER
he bought 100000 bushels and threw it
over later. To-day he changed front and be-
came an open bear. He sold sparingly at
first and then being satisfied that the ice was
thin, he took plunge. He put out line of
nearly 100000 bushels, and every time the
market lifted its head he plugged it full.
Most of the people who were in at
the beginning of the bulge floated
out on the way up and when
prices turned down they were prepared for
it. 1t is only the late corners who look sad.
They are an unhappy lot to-day, are the gen
tlemen who got on the train after 1t started
with the intention of riding to the Coo sta
ton. Corn for May sold down to 52B@52Ac,
and large business was done below $3.50.
Wheat was weak from sympathy with corn,
but on its merits it displayed resisting
power, perhaps because the market is
humping in the bottom only light business
was done in the pit, but the crop conditions
are such as to deter short selling, while the
lame, halt, blind and broken bulls have not
the courage to make another charge. Thus
the market is water-logged pitiable state
of suspended animation, broken-backed and
crippled. Cudahay, who was a buyer of pro-
visions early, turned around and pounded
the market later with the stuff he had bought,
breaking the price OF product of all kinds.
Pork was driven down to S13.9212, ribs to
1925, and lard to S7.67l2. There was a
slight reaction from these figures, but the
tone of the market was weak to the close.
THE ROUTINE REPORT.
DCHICAGo, March 3.-The Semi-reyival of
speculative trade in grain that came with the
opening Of March was of short Duration.
While the temporary bulge continued there
was activity, but with the reaction and de-
cline in prices came dullness. About every
thing OH the floor opened this morning at a
trifie better prices than Fridays close. The
tendency to buy was uniformly and slowly
downward, and the opening sales were at
the best figures of the day. Wheat for May
started at SO34c, sold at once to SO7sc, and
within an hour went Off to SO3S6S0l2c
There was nothing particularly discouraging
in the situation; it is regarded strong at pres
ent prices, by the majority of the trade, but
still there was apathYand q lower range OF
greater part of the session and finally closed
at that figure. While corn led upwards
Thursday and Friday, it led in the decline
early to-day. The opening quotations were
were the best of the day, and the first. two
hours carried prices down 12c. The volume
of trading was quite good, but so consencrated
that little outside was attracted. May
opened 1sc higher at 52a4c; declined to
light speculative trade in oats with nothing
but the smallest fluctuations. May
opened at 314c, sold down to 315sc
and closed at 31s4c. The provision trade was
a little more stirring than on the former days
ing prices were depressed by compare
lively free offerings. Later there was bet
ter showing OF strength, vet at the adjourn
ment pork showed q decline for the day of
10c, and lard and and short ribs sc. Trading,
while the bears mere selling, was quite fair;
but after the first hour, when they withdrew,
businessawas spasmodic and slow. May pork
sol sold from S14: 0Ol2 down. May lard sold from
$7.75 to $7.67l2, and closed at $40. May
ribs sold down to and closed
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat--No. 2, May, opened at S0S4c, clos
ing at sOssc; June, SIC, closing at s0Ac;
March opened at 47l2c, closing at 4sl2c;
May, 52a4c, closing at 52ssc June. 524c,
closing at 517sc; July, 52l2c, closing at
517sc. Oats.No. 2 May opened at 31s4c,
closing at 31ae; June. size, CLOSING. at
gust, 2sc. Mess Pork, per bbl-March,
opened at $3.50, closing at $3.50; May,
$14, closing at $13:92A; June, $14:1O.
closing at S14.1O. Lard, per 100 lbs-May
opened at $7.75, closing at $40; June,
$3.50, closing at S7.725a; July, S7.s2l2,
closing at $50. Short Ribs, per
100 lbs-May opened at $7.32l2, clos
ing at 1925; June, 81, closing
at S7.32la; July, STATE. closing at $40.
Cash quotations were as follows: Flour
Quiet and demand limited; winter wheat,
S2.50@4.25: spring wheat S2.7O@4.40.
Wheat-No, 2 spring, 75l2@79c; No. 2 red,
STAG. Corn-No. 9. 5O14@l5012c. Oats-No.
2, 29c. Rye-NO. 2, soc. Barley-No. 2,
77@7S1oc. Flax Seed-No. l. ST. IA. limo
thy Seed-Prime, 50 As. Mess Pork-Per
Dbl, 1880 Lard-Per 100 lbs, $3.50.
Short Ribs-Sides Qoosel, SHOOT. Is; dry
sailed shoulders (boxed), $500: short
clear sides (boxed), $7.5O@7.62. Whisky
Distilers' finished goods, per gal, S1.15.
Receipts-Flour $4,000 bbls; wheat. Is, 600
blu; corn, 5000 bu: oats. 10000 bu; rye,
1000 bu; barley, $4,000 bu. Shipments
Flour, IL. 900 bbls; wheat, $4,000 bu; corn,
131 900 bu: oats, 81, 600 bu rye, 1000 bu;
barley, "a, 900 bu. On the produce exchange
to-day the butter market was quiet;
creamery, 21127c; dairy, 1924. Eggs un-
settled at 1Ol2@16c.
r. M. NEWPORT & SON,
Iouocf,oopS QnnLone