St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-03
THE COMMERCIAL WORLD.
CeiiVery Day Made the Market Active
and All Grains Sold at an
Advance.
There Was Very Large Trade in
Provisions During the Entire
Session.
Transactions in the Financial Circles
Of Wall Street.-The General
Quotations.
Special TO the Globe.

contracts were maue inns morning, anu ITslu-
ing in the pits did not begin till 1880. One
tirm sent out considerable corn, first esti-
mates being SOC, 900 bu, which figures were
subsequently reduced Most of the wheat
that was started lodged with Hutchinson,
probably 100000 bu. Armour Il Co. were
reported 10 be sending out some wheat. De-
lNeries of provisions were small. Deliveries
OF grain in New York, Duluth and st. Louis
were light. The local markets opened active,
with May wheat quoted at SlS&0Sl7Sc; May
corn 52S4c. and May pork Sl4.35. The early
tendency of prices was up. Pork advanced
90 AT the start. The boards cables show
decrease of l.520,0C0 bu i'll the amount of
wheat on passage as compared with last
week There was a whaling big trade in
provisions, the excitement and activity dat
ing from the beginning of the session. Re
ccjpt> of hogs continue TO be lib
eral, hut that fact did not discourage
investment III product. Lard led i'll inter
est The May price at the outset was $40.
Hutchinson was a free buyer, and Stewart
Singer and Others sold on the call. The
AHSlo-Am2rlcaa bought about 100000
lbs. of ribs, and there was rafting demand
tog Lard. The price going to $50, May ribs
touching S1.71t2. Pork caught the fever
about This time. and the price climbed rap.
idly 10 $l4.40, gain on the day of 25c. The
market reacted a little, but ii secured ground
on 4 considerably higher level than yester-
day Bloom was III the pit again, and. as
usual. he was bull. He bought a large
quantity of lard, toking several 1000 and
81 Oo-Iierce lots. Strobe was also pres
ent in person, and his purchases
went down to the Anglo-American,
There was also considerable scattering buy
ing 10y commission merchants for country
account. The market has not been so active
since the grand rounding up and shaking cut
early last week. 1t was big day for proviS
ions. For wonder the bear combination
was quiet Neither Ream, Cudahy nor
Armour could be detected selling. The
statement of local stocks will be published
tomorrow. and il is expected to show smaller
supplies than have heretofore been counted
on. Foreign stocks of wheat are showing an
increa: e over last month. Liverpool reporting
6.960,0OO bu, or $4,000 bu more than OH
the lst of January. Cables generally come
in unsatisfactory in spite of the great de-
crease in the amount on passage
and the smallneSS of the total.
The local market was very firm,
however, and il had most excellent support.
There was comparatively little property for
sale. and the shorts acted nervous. ST. Louis
covered a large line yesterday, and New
York and local shorts were covering to-day
al higher prices. May wheat advanced 10
S.,ssc and ruled strong at and around S2ls@
S2Iec most of the morning. Hutchinson is
again displaying bullish symptoms, and was
quoted buyer under cover. The atten-
ton of the speculative trade is turning to
the danger of Over-short selling of corn. The
stock Of No in store here is about ], 000-
600 bu. OF the corn that is coming in not
5 per cent is grading No. =. Yet the crowd
i and has been going ahead selling into the
millions for May delivery. If the grain keeps
coming as il is now where will the shorts be
on delivery: Corn cables were conflicting
but ii Is understood that quite a line
was worked here to-day on export orders
Freight rates to-the seaboard are badly de-
moralized and shippers are able to work grain
at prices that could not be touched were
published rates adhered to. Corn was steady
and artive all forenoon. At the afternoon ses-
sion wheat was active and a shade higher
Corn and oats dull. Provisions a trifie lower
than at p. m; 2:30 p. m, close wheat, Feb
ruary 76Ac; March. 76s4@767sc; May,
S2IGs2ssc: June, S28a@S2Z Corn, Feb
ruary, I7ISc; March, 4SAc; May, 527s@53c;
June. 53c. Oats, May. 336l33isc. Pork,
February, Sl4.2.l2; May, Sl45S. Lard
S762is; March. S7.65; May, $3.50; June
S7.Sj. short ribs, February, 81 .52l.; March,
500: May, S7.15.
THE ROUTINE REPORT
CHICAGO, Feb. l.-There was better spec
uiative feeling on change to-day than for
many days. although il was delivery day.
The deliveries of grain were light In the
provision crowd. a million short ribs went
round and that formed the bulk of the de-
livery in that pit. There was nothing ap-
parently new in the outside situation. but
locally everything was stronger and tended
upward from the opening. The receipts of
hogs fell short few thousand, better prices
prevailed at the yards for the best grades.and
with a prominent packing house buying
early. provisions advanced quite sharply
Before noon ribs sold 1l2c higher, lard loo
higher and mess pork 22l2c higher for May.
Better buying orders from the outside and by
local spectators kept prices up pretty well
until the close. Nav pork advanced 2Tiac
and closed 22l2c better than yesterday, with
May at Sl4.53. May short ribs closed
DC better at S7.75. and May lard 7Iac
better at $3.50. Wheat followed the
lead of provisions. Nearly all OF
the conditions were favorable There was d
decrease of 10000 bu in the amount on
ocean passage. There was fresh eonsign-
mtnt of crop damage reports from ST Louis
and provisions were higher All of these in
tiucnces were sufficient to cause an advance,
even without the buying by the large short
interest. Shortly after the opening the scalp
ing crowd commenced to cover their shorts,
and before noon May wheat. which opened
AZ Sl%4c sold up to S2Ssc. About this figure
The market held pretty steady, and May clos
ing at S2146S2ssc.
10TH wis TdlHeT quiet To-Day ana trading
somewhat limited. with the exception of a
short spell around the opening, when the
market was rather active. May corn opened
at J2S4c, declined to 52l2c on free Offering
reacted and advanced to 527B@53, q promi-
nent operator buying. and closed at the lat
ter figure: Oats were steady and quiet. May
closed 1t 33c.
THE QUOTATIONS:
The leading futures ranged as follows
Wheat-No. February. opening 7554c
closing at 764c; March, TGAc, closing at
T634c; May, S1s4c, closing at S24c; June.
S2ssc. closing at S2s4c. C0rn-No. Febru.
AIRY. 47ssc, closing at 477sc: March. 4Sc,
closing at 4SAc; May. 52s4c, closing at 527sc;
June, 52@sc, closing at 53c. Oats-No. 2
May, 33c, closing al 33c; June, 33Ac Mess
Pork-Per Dbl, February, closing at SD. 27l2;
May. Sl435, closing at S14.55. Lard-Per
100 lbs March, 1874, closing at sz.65;
$50, closing at S7.85. Short Ribs
Per 100 lbs, February, SAB, closing
at S7.52ls; March, S7.55, closing at
Cash quotations were as follows: Flour
Quiet and without quOtable change. Wheat
No. spring, 76lst0I7hc; No. 5 spring,
6GQ6Gi2c. Corn-No. 2, 48c. oats-No. .,
Te Fac S SSeSo sc, 4G sar T;maiS; s2e
Prime S2.46. Pork-Mess, per Dbl, SI4. ESQ
1430. Lard-Per 100 lbs, 81 6Of7. 62I2.
Short RibsZSides Qoosel, $3.50: dry sailed
sidss 6oxsa s7s5 wis shDfs fleaF
finished goods, per gal, sl.I3: Receipts
Flour, $4,000 bbls; wheat, $4,000 bu: corn.
5000 blu; oats. los, 900 bu; rye, 5000
69 o5 6ar ss 5000 09
600 bu: oats, $4,000 bu; rye 1000 bu;
barley, $1,000 blu. On the produce ex-
chalge today the butter market was steady
at 2-@3lc for creamery. and 17026c for
dairy. Eggs-Dull at 20@22c,
o M NEMDODT CNM