St. Paul daily globe., 1888-03-15
The COMMERCIAL RECORD.
Telegraphic Connections Having Opened
Markets Assume More
Life.
And There Was Perceptible Advance
in all Markets---The Visible
Supply.
Transactions IN the Financial Circles OF
Wall Street.-The General
Quotations.
Special to the Globe.

Special to the Globe
C11cIeo. March 14.-Telegraphic com
munication with the storm-strlcken East has
been resumed. New YORK Joyousi! eA
changed the courtesies Of the day Win ohi-
cago this morning and sent in some oroers.
Cables quoted the foreign markets as hrni
dhd prices unchanged. Secretary Stone was
engaged in gathering in belated hgures anu
getting his delayed visible supply statement
ready. 1t became evident early IN the uaS
that the decrease in wheat would DE near!
1000 600 bu, instead of 500'Ooo as esti-
mated This fact, together Win the s'eau!
run of bull field and shipping news gave tle
speculative statement firm ana strons .ono
and prices turned up. Wheat advanced P2c
on Yesterdays closing range the hrsV noui'
Early quotations were SO0Sussc Oh May
wheat and S0ss@909sc for June wheat.
Trade was active The visible supply state
ment when 1t came in, showed decrease oI
So. 900 bu of wheat 10000 bu OF corn ana
5000 bu of oats. These hgures only
had momentary influence on the market.
Some excitement was caused IN speculative
circles by the circulation of report that the
government statistician had discovered an
error of 2OOOO,OOO bu in his published
estimate of the quantity OF wheat IN farmers
hands. and that it should have read
10000 900 bu less than last year instead
of more. It's really matter of the smallest
possible consequence how the government
estimates read, for at this season OF the year
they are OF no earthly value III determining
the actual amount of grain remaining uncon-
sumed, or in locating it. The estimates are
rank guesses formed from insufficient data,
r1tfn n r
are understood by the trade. They are
influential only to the extent 10
which they may be believed by the
poorly informed. They are III TINS
way misleading and damage to legitimate
interest when they happen TO be grossly
wrong, as they are in the present instance
However, they are official. From Ohio and
Indiana crop advices were bad. Nothing i'll
the way of official" information on the sub
ject of the crops in these states is at hand
but the bureau of grapevine reports is all one
way. The winter wheat crop is in jeopardy.
That much seems to be clear to the minds OF
correspondents who give their Chicago
friends the benefit of their opinions Wheat
remained firm around S0Ac until nearly the
close of the long session, when raid on corn
weakened it to sec, where it stuck, with only
d
is still one of weakness, and it was not found
a very difficult matter to break the price
of May from 52Is to 5112c. Offerings of
''short corn" were not heavy, but any guam
tity of long stuff came on the market, and
the disposition to fiatten out tseemed to be too
strong to be successfully resisted. The close
at l o'clock was weak at the decline. During
the last hour dealings in corn were on a large
scale that pit once more attracting the lions
share of attention. Provisions were dull
with slightly downward tendency until
nearly the close, when heavy offerings of
pork by Ream and of ribs by Armour caused
sharp decline, May pork going to $14.15,
and June ribs to $7.3712. The elements of
silent strength that were visible yesterday
were entirely lacking. At the afternoon
session there was slight decline in prices of
grain and provisions. Wheat and corn sold
about Ac lower. Oats were dull and I'M
changed. Prices at 2:30 p. M: Wheat
March, 747sc; April, 75lsc; May, 1850 June,
SOc Corn-March, 475sc; April, 477sc; May,
51ss@5ll2c; June, $3.50. Oats-May 3lls
@3lAc; June 311sc. Pork-March, Sl4;
May, S14.12l2@15; June, $l4.1712. Lard
March, 7.62I2; May, $40; June, S7.75.
Short Ribs-March, S7.2212; May, $3.50;
June, $7.37l2.
-cs THE ROUTINE REPORT.
CHICAGO, March 14-Early reports and
early trading promised favorable day for
the bulls in wheat. The results of the
session, however, showed that the market
was a decidedly heavy one. The visible
supply decreased SS5, 900 bu. There was
sensational rumor that the government
statistician had made an error of 10000
900 bu in the amount of exports In the pit
the opening was marked by heavy buying.
Although the buying by a few houses was
CONSPICUOUS. the market failed to respond to
over the close, and sold at 80sSc for the out
side. After settling back to S0la@50Ac, the
pit was dull until near the close when from
lack of support the price went off to and
closed at 1850; The interest in corn was
secondary to wheat. The range was narrower,
sales more limited and closing prices
about steady and the inside prices
for the session. Visible supply decreased
100000 bu for the week. May opened at5184c,
sold at 5218 and 51lsc and closed at 51&c.
Trading in provisions went by fits and starts,
opening strong, but gradually weakened and
showed no disposition to react. The aggre-
gate trading, however, was larger, especially
in short ribs. The professionals were cred
tied, however, with selling over 10000 900
lbs. Buying was scattered, but several fair
sized lots were picked up by shorts Dut did
not effect values, the decline being &C. and
last sales were at $3.50 for May, drop of
12c from yesterdays close. Lard broke sc
and pork 15c, and closed weak at inside
figures Shorts in pork evinced less inclina-
ton to buy and longs became anxious to sell.
May opened at $14.30, dropped TO S1415
and closed tame at SD. 1212.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No 2 spring. April closed at 75lBc;
May, opened at soc, closing at 795sc; June,
S0Ac closing at soc; July, SOSsc, closing at
soc. Corn-No. 2 May opened at 51s4c;
closing at 5134c; June, 5l34c, closing at
5134c; July 52c, closing at 51l5c. Oats
No. May opened at 3Is4c, closing at 31lsc;
June 31Ac, closing at 31lsc; August Mess
Ing at S14. 12l2; June, $14. 4.32l2 closing at
S14. 17l2. Lard, per 100 lbs-May opened
S7.72l2, closing at $40; June, $7.77l2,
closing at $775; July, $7.7512, closing at
$3.50. Short Ribs, per 100 lbs-May opened
at 81. 37l2 closing at 81. 80; June, $3.50, clos
Ing at S7.35l2; July, $7.55, closing S7.55.
Cash quotations were as follows: Flour quiet
No. 2 red ,Ss1l2e. Corn-No. 2 5Ol2@505sc.
Barley-No. 2, 77@7712c. Flax Seed-No.
!, $1.45. Prime timothy seed, $2.51@2.52.
Mess Pork, per Dbl, $14.05. Lard, per 100
lbs, S7.62l2@g7. IS. Short ribs sides 0oosel,
S7.20; dry salted shoulders (boxed). SEQ
610; short clear sides (boxed), 81, ,65@7. 80.
Sugars-Cut loaf, 7Ss@9Ac; granulated,
7.0706c; standard" IA, ~ .075Sc. Receipts
21,0oo bu; oats, 137,ooo, bu; rye, 1000
21,O0O bbls; wheat 10000 bu: corn, So
900 bu; oats, 10000 bu: rye, 1000 bu;
barley, $4,000 bu. On the produce ex-
change to-day the butter market was firm;