St. Paul daily globe., 1888-02-22
THE COMMERCIAL RECORD.
Wheat and Corn Started in Rather
Slow, But Stiffened Up and
Sold Higher.
The Bears Undertook to Break Pro-
visions, But After Short FURRY
Prices Advanced.
Transactions in the Financial Circles
Of Wall Street.-The General
Quotations.
Snecial TO the Globe

Special TO the Globe.
CHICAGO, Feb. 2l.-The wheat which the
crowd kindly took from Hutchison, 10 the
extent Of couple of million bushels was
for sale this morning or a large part of it,
and there being no eager inquiry for II the
price eased OFF 10 Soasc for May, where 1t
rested steadily and later sold somewhat
higher. Cables were steady. Speculation
around the opening was almost entirely local.
Corn started in rather soft on large receipts
with the light-waisted scalpers on top. The
price went 10 5llsc, but on good buying or
goud-siZed lots by Pool Sherman, Trego,
Montgomery, Dunham, and brokers OF that
class, the market became tirmer, and the
price went 10 SLICE. Singer was the largest
seller of provisions and prices sought lower
level. May pork sold down early TO S14.l0;
May lard 10 $50, and May ribs 10 S7.95.
Cudahay was also q seller. Before the ses-
sion was far advanced, it became evident
that there was on foot scheme 10 break pro-
visions. Cudahay, Singer, Baldwin, Mitchell,
Ream, Charley Wright, and the whole bear
combination, asSailed the market hip and
thigh, and Bloom joined in the hurrah, Pork
was pounded down to Sl4, st which point
Bloom offered 5000 barrels for sale. Ammi
Bennett, Of A. NJ. Wright Il Co.. took the
bluf, but only got 1000 barrels, Others get
ting the rest. A fine demand developed at
Sl4 for pork, S7.12l2 for ribs and
S7.S5GT.S1I2 for lard, and the raiders
found il impossible 10 break values further
without too great risk. They accordingly
Withdrew and prices advanced, pork going
to Si4.2ll2, lard $50 and ribs 10 S7.47l2@
$50. The FOwlerS were not doing much, a
fact which strengthens the belief that they
have worked out of their heavy line. Morrill,
was large buyer of both ribs and pork, as
he laS SNrif
beef packer is in the deal, MOrrill's buying
is probably for his account their relations
being very friendly. The gossip of the pit is
that the FowlerS have tloated out of their in
terest, leaving Swift the great bull and that
Gudahay is changing from front as fast as
be can without putting prices up on himself.
The latter is always TO be counted on the
change over when Armour begins TO shift,
but it does not follow that because Cudahay
shifts Armour is doing the same thing. The
identity of \. NJ Wright's principal is still
subject for speculation, opinion being di.
vided as TO whether it is Cudahay, Swift or
Bloom, good many people being convinced
that the latter is going in for another bull
whirl. The grain market was uninteresting
q: the close. New York reported an encour-
aging export inquiry for wheat, and clear
ances show up well. The temper of the
There is, however a lamentable absence of
general speculation, and this operates
strongly against material advance
in quotations. The local market was steady
within a narrow fuctuation, May not going
below S0ssc, nor above Sic; the average was
SOs4c and above, and toward the close OF the
long session, S07s@S1c was the bid price
The situation may be described as statistic
ally and legitimately strong and speculatively
weak. Corn ruled dull and steady around
51sSG5Jl2c, hardly stirring after the first
hour. Closing quotations for both wheat and
corn show no apparent change as compared
with yesterday. At the afternoon session
provisions were slightly firmer, while grains
were shade easier. 2:30 p. m. prices:
Wheat-February 7575@76c; March, 1850
76c; May, S0s4dS07Sc; June, s1Isc Corn
February, 47Ac; March, 47Ac; May, 51ssc;
June, 514c. Oats-May, 314l3lSsc: June
31$sc. Pork-February, $3.50; March,
sl5S0; May 8 l4l2l2; A Io June sl42o. Lard
S7S1l26l7. June, S7.92I2. Short Ribs
February 81 so; March, $3.50; May, S7.45;
June, S7.52l2.
THE ROUTINE REPORT
CHICAGO, Feb. 21.-There was a continua-
ton of the slow and uninteresting deals in
the grain pits on change to-day. All the
markets were largely controlled by q promi-
nent operator. Wheat opened this morning
IL opened. The range for the session was in
side of sSc. and the pit was dull at best and
hfeless at times. The operator mentioned
was BUYER at S0S4c for Nav and the nrice
consequently kept slightly above that price
most of the time. May opened at S07sc sold
at SOssGgSlc. and closed at S0a4@S05sc Corn
was manipulated largely by the same opera
tor who held control Of the wheat Dit This
trader walked into the pit occasionally and
told the crowd to put down all the corn they
wanted to sell at 51ssc. His agents were
sellers when it touched 51l9c. Any natural
action OF the market was impossible under
the circumstances. The range was at 5lIb0
51Ac and 51l2c, closing at 5 S4c for Nav.
Oats were not traded in to any great extent
ana huctuatioas were within small range,
prices exhibiting no material change For
time the chief interest was in the provision
crowd, where bear raid was in progress
Mess pork opened at SLABS and was
pounded down TO S14. There was a general
selling of pork by commission houses and
spectators, and an indisposition of buyers
to take hold except after decline of 25c 1t
is believed in certain quarters that the largest
holders have been unloaded and retired from
the market, letting it take care of itself. On
the other hand it was noticed that parties
who have bought literally on all recent
breaks breaks were IN the mi market at Sl4 and pur-
May. Opening sales were at SI425, de-
clined irreguarly to S13.97I2. but rallied and
closed at Sl4.12l2, decline of 1Oc from
yesterdays last sales. Lard broke 5@7I2c
but closed 212c above the inside figures
Trading was considerably lighter Sales for
May were at 81. S597. .92l2, closing at 81 S7I9
Short ribs broke Zoe under free offerings bv
big Scalper; May sold to S7.4o but rallied
and closed at S7.45.
THE QUOTATIONS..
The leading futures ranged as follows.
Wheat-No. 2 February, opened at 1850
closing at 757sc; March, 757sc. closing et
757sc; May, S075c, closing at S04c: June
S1lsc, closing at Sllsc. Corn-No. ., March
opened at 47lsc, closing at 474c; Nav.
5lssc closing at 51ssc: June -5l l4c, closing
at t51hc; July, 81 sc, closing at 81 7sc. Oats
No. 2, May,opened at 31Ssc closing at 3lItc.
June, lSsc, closing at 31Ac; August 28c
Mess Pork per bbl-March closed at SI3 80;
S14.25 Lard, per 100 lbs-March opened
at $50, closing at S7.77l2; May. 81. 92ls.
closing at s.. .92I2; June, S795, closing at
S792i2; July, S7.9712 Short Ribs, per 100
lbs-March Ma gd opened at s7.37l2 closing
s7.45; June S7.55, closing at s7.52ia.
Cash quotations were as follows: Flour
Dull and steady. Wheat-No. spring. 76M
T7sc: No,3 spring, 67l2@6ec. Corn-No.
No. 2, Gle; Barley-No. 2, 77@soc. Flax
S2.46@247. Mess Pork-Per bbi. S13 0' 90
Lard-Per 100 lbs, S7.75. Short ribs sides
uo0sel, 81: 80; dry salted shoulders (boxed),
$5;9O@6.O5: short clear sides (boxed), 81. 90
as. Whisky-Distillers' finished goods, Der
gal, S1.15. Sugars-Cut loaf. SssdS4c;
granulated, 71sc; standard a. 6ac Re,
eeipts-Flour. 81, 900 bDls; wheat, 35, 900 bu;
corn, 135, 900 bu; oats, 122, 900 bu; rye,
Flour. $4,000 bbls; wheat, IL, 900 bu; corn.
$4,000 bu; oats, $4,000 bu; rye, 600:
barley, $4,000 bu. On the produce exchange
to-day the butter market was quiet and
lower; creamery, 2lG2sci dairy, I7@25c.
Eggs weaker.