St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-06-14
The COMMERCIAL RECORD.
Pits Without Leaders Cause Nervous
ness ALI Around and a Weaken
ing in Prices.
Corn Braces Up, Oats Remain Quiet
and Provisions Show Some
Activity.
Financial Operations in the Money
Centers---The General
Quotations.

Special to the Globe.
CHICAGO June 13-The wheat market
opened week and sold off Ice. or there
abouts, and then within 30minutes advanced
nearly lie a bushel on moderate buying
July going to S424c and August to Soc.
Cables were steady. The visible cause
of the advance was additional dis
couraging news about Emperor Fred
erick's health, and the receipt of most
damaging crop news. The markets. never
theless narrow, and trade has notye spread
out to any great extent Receipts OF corn
footed up 702 cars, which was about the es-
innate, but the quality of arrivals is poor,
only about 80 per cent grading No. 2. The
market opened weak, but advanced
a@7sc, and held steady at the
improvement. The early range of prices was
b25s@53l5c for July, and 53ls154c for Au-
gust Provisions were dull, uneasy, and "a
shade lower Early quotations were $3.50
@13.S2l2 for July pork, SS,55@S.57l2 for
July lard and S7.5TI2 for July ribs. The
wheat market was firm for a time, but it
didn't stay firm. Bull statistics and bull
news of every description by the cart
load were trotted out but without avail. On
every little advance the professionals take a
crack at the market and down it goes. Fluc-
tuations are narrow, and the bulls as
rule disheartened. Rarely in the his
tory of the wheat trade has the situation
been statistically more buIlisn and the pros
poets better for an advance on the merits OF
the product, and rarely have the bulls had
worse markets to contend with. The sense
of the trade is that the agricultural bureaus
estimates OF the deficiency in winter wheat
products are yet too high, and that when the
statistician gets through trying to be theo-
retically consistent at the expense of facts
he will have to reduce his average very ma
terially or else stand convicted of issuing
palpably mistaken estimates. The latest from
Washington fixes the probable total crop at
414,O00.000. including the spring wheat,
about which nobody can pretend to give in
telligent judgment. The outside markets
are generally dull and featureless. Atlantic
port clearances foot up over 100000 bush
els and stocks at winter wheat points are
getting down 10 almost famine basis. In
the local market the demand was largely for
August and December, July being neglected.
Ream, Hutchinson and Kent were set down
as the leading sellers. Towards l o'clock
prices warmed up again to nearly the top,
and the tone at the close was firm. There
was also increased activity noted in
the wheat pit. Corn weakened when it
became known that i'll addition to
estimated receipts of go cars tomorrow
the Chicago, Burlington & Quincy was going
TO bring in two or three extra corn trains.
July broke to 52Ac, and August to 53sSc.
The market subsequently recovered tone and
closed at a small gain over yesterday, but
some distance inside the best range of the
morning. The corn crowd was never more
torn up and distracted over q state of facts
that looks squarely toward every point of the
compass. Oats ruled steady most of the day.
There was break in pork that carried July
down to $500 and August to $3.50. Ribs
lost Toe and lard sc. The cause
Of the break in pork was pound
ing by Ream and Hutchinson and the
attempt of holders of good sized country
lines to unload on a soft market When the
unloading was done the price advanced again,
but not TO the starting point. AT the after
noon session there was fair activity in grains
and dizziness in provisions. Wheat sold
within narrow range and closed a fraction
lower. Corn sold 4c higher and closed
steady. Oats also were a fraction higher
Provisions unchanged.
THE QUOTATIONS..
The leading futures ranged follows:
Wheat-No. Q, June opened at Slc closing
at S334c; July S43Sc, closing at S45Sc; August
s45sc, closing at s45sc: December, S6Isc
closing at S6Ac. Corn-No. 2 June opened
at 52s4 C, closing at 52s4c; July, 525sc
closing at 534c; August, 53Ac, closing at
53a4c; September, 53ssc closing at 54lsc
Oats-No. 2 June opened at 32c, closing
at 32l2c; July, 32ssc, closing at 33c;
September, 27lsc, closing at 27Ac. Pork
Mess, Per Bbl-July opened at S13. So
closing at S13.77l2; August S13 90
closing at $13.77l2: September SD. closing
at Sl397l2. Lard Per 100 Lbs-July opened
at SS.57l2, closing at $3.50; August,
$3.50 closing at $3.50: September SIS. 67l2,
closing at $3.50; OCTOBER, S.. 67I2, closing at
$500. Short Ribs, Per 100 Lbs uly
opened at S7.57l2, closing at S755;
August. S7.65, closing at S762la /:
September, S772l2, closing at $40
Cash quotations were as follows: Wheat
No. 2 spring, S3s4@s4c; No. red, s5c. Corn
No. 2 5Sc. Barley-No. ., 65@67c Flax
Seed-No. 1, Sl.30. Timothy seed nominal.
Mess Pork-Per Dbl, $3.50 Lard-Per 100
lbs. $3.50. Short Ribs sides Qoose). 81 so.
Dry sailed shoulders (boxed). S6M6 %.
Short clear sides (boXed), SS@S. O5. Whisky
-Distillers' finished goods. per gal, ST. 20.
SugaIs-Cut loaf, 7A@S14c; granulated, Csc 4:
standard "a, 6l2c. Receipts-Flour 81 600
bbls; wheat, $4,000 bu; corn, 623, 900 bu !;
oats, $4,000 bu; rye, .6,ooO bu; barley,
5000 bn: Shipments-Flour. 1000 bbls;
wheat, $4,000 bu; corn, $50, 600 blu; oats,
100000 bu; rye, $4,000 bu; barley, 1000
bu. On the produce exchange to-day the
butter market was steady and less active {;
creamery, 15@19c; dairy. 1312@17c. Eggs