St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-08-23
The COMMERCIAL RECORD.
Liberal Unloading by the Longs Causes
the Price of Wheat to
Sag.
Corn Advances a Fraction, Oats Rule
Steady, Provisions Closing Firm
and Higher.
Financial Operations in the Money
Marts---The General Quota
tons.
Special to the Globe.

CHICAGO, Aug. 22,-Wheat opened or q
little this morning, and the decline would
have been considerable if Hutchinson had not
stepped in and bought enough to check the
falA A good many "longsn realized on the
break and seemed glad to get out The price
went up over 7Sc considerably, but by and
by the crowd became little weary of follow
in the lead of Hutch and began unloading.
The volume was not great at first, but pres
emily 1t increased, and the unloading senti-
ment became contagious Bloom. and sew
eral other heavy longs dumped all their
late purchases into the pit, and The little fell
lows tailed ill., All the big longs sold out, and
the market declined sharply to s6l2c again.
The crowd looked for break in corn, as
Milmine was thought to have long line out
for Post. the New York broker who failed
yesterday, but were surprised to find that he
sold comparatively lttle-only about quar-
ter of a million-and the market soon stiff
ened up. Later on it was understood that
his corn went to Hutch" who also sold
Post his wheat. This is offered in explana
ton of the fact that corn did not break as
anticipated. Grain inspection was: Winter
wheat, 7s cars; Colorado, 1 spring, 4S;
corn, 427; oats, 1S6; rye, 80; barley. 8.
Shipments were: Winter wheat, 4,C69 bu;
spring, 24,6 bu; corn, 1885, 1862 bu; oats,
SO, 567 bu.
THE ROUTINE REPORT.
CHICAGO, Aug. 22.-The greatest interest of
the day on change centered around the
wheat pit but taken on the whole, the
market was not as active as yesterday. A
very large business was transacted early in
the session, large selling orders and good
buying orders being on hand; but the latter
part of the session witnessed firmer and
lighter trading The greater part of the
trading was credited largely to Eastern
houses, and much of it on foreign account.
The selling, however, was generally con-
sidered to be long" wheat which
offered handsome profit on the investment
The buying was done largely by prominent
local trader, though fair sprinkling of out
side orders were received. The opening was
very unsettled and weak, prices varying Ac
in different parts of the crowd. Sold off 14c
weaker and after numerous fluctuations, de-
clined 1Ac-to the inside price of the day
and closed about 12@1s4c lower than yester-
day. Corn ruled quiet all through the ses-
sion, huctuation being within narrow range
and closed trifie better than yesterday.
Oats were very steady with light specula-
tive market and trading of small volume. A
far speculative business was done in pork,
early, prominent local operator taking
good line, but dizziness set in thereafter.
The market opened with decline of 5@7I2;
quickly advanced 17I2@20c, and closed
f nTm at nearly outside prices Lard with
closed firm at almost outside figures. Short
T1bS were in fair demand at = slightly lower
range OF prices early, followed by an adj
vance to somewhat above the opening, which
was held to the close
THE QUOTATIONS.
Wheat-No. 2, August, opened at S66sc,
closed at S6Ac: September opened at S67sc
closing at S6Ssc: October opened at 871sc,
closing at s67sc; May. 93c. closing at 92s4c;
Corn-No. 2, August, opened at 44l2c. clos
ing at disc: September, opened at 44Iac
closing at 44SSc; October, opened at 441ac,
closing sn1s at 44l2e; May. opened 40c, closing
25c, closing at 25lsc; September, opened at
24ssc closing at 24S8c; october, opened at
24l2c, closing at 24Ac; MAY, opened at
2e$sc, closing at 2sAc. Mess Pork, per Dbl
opened at sI362Ia, closing at $3.50;
October opened at $3.50, closing at SI3.-
S7l2; January opened at S13., closing at
Sl3O5: Lard-per 100 lbs-August closed
closing at S., 97i2; october, opened at 1856,
S7.67l2, closed at $40. Short Ribs. per 100
lbs-August, closed at Ss.17l2; September,
opened at So. 10, closing at Ss.-17l2; Oc-
tober, opened at Se.17l2, closing at So. 22l2 {;
January, opened atS6.60, closing at S6.65.
Cash quotations were as follows: Flour
firm and unchanged. Wheat-No. 2 spring.
s66Ae;o No, 9 spring, 7s@s3e; No. 2 red,
No. 25A@2512c. Rye-No. 2, 4Sc Barley
No. 2, nominal. Seeds-Flax. No. 1, S.. 80;
timothy, prime, 50 %. Pork-Mess per Dbl,
SCHOOLS, So Lard-Per 100 lbs, IS. 600
s.92l2. Ribs-Sbort, sides Noose), $s.15@
$50. Shoulders-Dry sailed, (boxed), SO. 40
@s.50; short clear sides, (boxed), S.. SO@9
Whisky-Distillers' finished goods, per gal,
S1.2O. Receipts-Flour, 80, 307 bbls: wheat,
I23,544 bn: corn, 301, so bu; oats, 26s, 6sl
bu; rye, 1887 bu; barley 1850 bu. Ship
ments-Flour, 21,13S bbls; wheat, 60, 331
bu; corn, Ia, 3s3 bu: oats, 139, 800 bu; rye,
COOS bu; barley, 700 bu. On the produce
exchange to-day the butter market was I'm.
changed. Eggs l4GIl 4Lac