St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-07
The COMMERCIAL MARKET.
Board of Trade Markets We're Slow at
the Opening Yes
terday.
hogs Receipts at the Stock Yards We're
Light, and Prices We're
Higher.
Transactions In the Financial Circles
In Wall Street.-The General
Quotations.
Special to the Globe.

CHICAGO, Feb. 6.-The board of trade mar
fets were slow this morning around the
opening Receipts of live hogs at the YARDS
were light, and prices were 5@lOc higher.
Products were higher, but sold OFF under
free offerings by ''old Hutch" who rendered
all the May pork the crowd might want at
Sl455. The price went at once TO Sl4.oo.
May ribs were quoted early at S7.75 and May
lard sold at 5000. Trade was light. The
grain markets were firm at the beg1nnlng,o but
weakened somewhat on the receipt OF news
that Bismarck was making pacific speech
TO the reichStag. The undertone of wheat
remained strong, however, and there was
very little offered in the pit. The decline
from S27Se TO S2ssc was too small to excite
the alarm of the bulls or encourage short
selling. Market cables were rather encourag-
ing, and there is further gossip about lmpend-
ing activity in the export business
May corn ruled 52Ss9527sc. The change in
the visible supply from the figures OF last
week were as follows: Wheat GA, bu
decrease. Corn, 679, 500 bu increase. Oats
1856 bu decrease, Rye, 36,54l bu In
crease Barley, 23, 429 bu increase. The de-
crease in wheat was greater than expected,
and the increase in corn was also more. Es-
Inmates of wheat stocks are now 3.oOU,ouo
bu less than the beginning of the year. and
the rate of decrease is larger than last year.
The visible is being eaten into ut the aver
age of about OF, 000 bu a week, and the av-
erage is not likely to be less, though If the
receipts of blockaded wheat at Minneapolis
keep up for a few days, there may be an in
terruption of one week in the process. It's
practically certainty that the
surplus stocks of the past four or
five years have been consumed,
and thus eliminated from the situation, and
the bulls feel that with this incubus removed
tand consumption caught up with production.
hey have at least an even show, with any
disturbing causes more liable TO advance
than TO depreSS prices. Local sentiment still
inclineS to the bear side, however, and the
scalping and specializing crowd continue to
keep short moderately. undeterred by small
stocks on possible consumptive require
ments. The market to-day was very narrow,
late cables were strong and moderate ex-
port business is reported from the seaboard
points. The continent is quoted as buying
some, but up to this writing the support from
the other side has not been of that enthusiast
tic kind that lifts values up through the
dome of heaven. Corn was dull with distinc-
tive tendency TO weakness, though prices were
well sustained considering the circumstances,
The increase visible stocks was dampener,
and the big receipts for tomorrow, $50
cars, was another wet blanket. The corn
market looks and acts tired. Provisions
were advanced on sharp competitive bidding
by shorts Pork went to Sill 1913, lard to
S7.97l2 and ribs to $3.50. Prices were
easier at the afternoon session. Pork sold
Zoe lower, lard &c and ribs 2I2c. On the
rumOr that foreigners were selling out wheat
here and III New York, wheat declined 1Sc;
and corn TO 52c; May oats sold off Ac. 2:30
prices: Wheat-February. 75s4c; March,
76hc; May. SI$4c; June, S2Ac. Corn
February, 47c; March, Ac; May, 52c; June,
Sis, Oats-May, 32S4c. Pork-February,
S14.22l2; May, S1447I2. Lard-February,
and March, S7.75; May, $3.50; June, S7.95.
Ribs-February, 1913; March, S7.57l2;
May. S7.72l2; June, S7.77l2.
THE ROUTINE REPORT.
CHICAGO, Feb. 6.-MOst of the excitement
at the opening Of the board was centered in
provisions. May pork opened at SLIGO,
against Saturdays last price of S14.52l2
There was an Immediate drop TO Sl4.50,
under selling by prominentoperator.W When
this figure was reached, The same operator
offered TO buy, but there WAS little apparent
desire 10 do business, and the pit soon be-
came deserted, shortly before noon the pit
again liyened up under heavy purchases by
several operators, and May pork picked up to
S14.12I3. At this figure the buying ceased,
and enough selling orders appeared to almost
Immediately break May to SI465. Later
there were further efforts to make pork and
May again sold off, closing AT S1457I2. Lard
was in moderate request. May advanced from
$40 to ST.91l2, and closed at $500 Short
ribs were quiet. May sold at 81. 1907 80, and
closed at S7.72l2. The grain market was firm
at the beginning, but weakened somewhat
on account OF news that Bismarck was making
q pacific speech to The reichstag. In wheat there
were few buying orders from the country
which were brought in by Saturdays adj
vance, but were soon filed. The local
crowd was apparently loaded up and. were
willing TO sell, but the market was in too
weak q condition. May opened at S23sc but
at the end of the first hour it had sold down
to S20S2l6c, and the pit was deserted. The
announcement OF decrease of $4,000 blu
in the visible supply of wheat, when not over
100000 bu was expected, firmed Nav I'D
again to S2sSc. This reaction, however, was
short lived; the market again became weak
and May sagged off TO Sl7Sc, where it closed.
Corn not only had little activity of itself but
appeared affected by the activity of other
markets. May opened at $3.50 53c, sold off
to 525sc, remained between that figure and
527sc the greater part Of the session and to-
ward the close became quite weak under lib
eral offerings and sold off to and closed at
52c. Trading was local in character. there
being no outside orders to speak of. Oats
were quiet and prices ranged within lac
limit May closed at 32s4c, a decline of 14c.
THE QUOTATIONS..
The leading futures ranged as follows:
Nneat-No- Marcn opened at T6Ssc, clos
ing at 764c; May opened at S2Sac, closing
at SIs4c; June opened at S234c, closing at
S24c. Corn-NO. 2 February opened at 49c.
closing at 47c; March opened at 4SIsc, clos
ing at 47I4c; May opened at $3.50 closing
at 52c; July opened at 525sc, closing at
52s4c. Oats-No. 2 May opened at 33c,
closing at 3224c. Mess pork per bbl-Feb-
ruary opened at S14 .32l2, closing atS14 22Ia:
May opened at 400. closing at SI4.47I2.
Lard, per 100 lbs-March opened at 1918.
closing at S7.75: May opened at S792Ia.
closing at $3.50; June opened at So, closing
at So. Short ribs, per 100 lbs-February
opened at $3.50, closing at 1855; March
opened at S7.60. closing at S7.57l2; Nav
opened at S7.77l2, closing at S772I5.
Cash quotations were as follows: Flour dull.
neglected and without quotable change,
Wheat-No. 2 spring. 76ls177l5c; No. 8
spring. 66@76c: No. 2 red, 79Ac Corn
No. 2, 4Sc. Oats-No. 3, 29@30c. Rye-No.
2, 6Oc Barley-No. 2, S1@S2c. Flax Seed
No l, S1.66; prime timothy seed, 50. 46.
Mess pork, per bbl SIS. 3C@I4 40; lard, per
100 lbs S7.77l2D7. so; shortrib sides Qoose),
S7.55; dry sailed shoulders (boxed), SEQ
Cos; short clear. sides, (6oxed), Ss@S.O5.
Whisky-Dlstillers' finished goods, per gal.
lon, 81. IA. Sugars-Cut loaf, s@8I2c; gran
ulated, 7Ssc; Standard "a Csc. Receipts
Flour, 20, 900 bbls; wheat, 10000 bu; corn.
114,000 blu; oats, 129, 600 bu; rye, 5000 Blu:
barley, 49, 600 bu. Shipments-Flour,1 II, 600
bbls; wheat, 1900 bu; corn, $4,000 bu:
oats, 10l, 900 bu; rye, 1000 blu; barley,
10000 bu. On the produce exchange today
the butter market was very tame; creamery,