St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-05
The COMMERCIAL WORLD.
Wheat Opened Firm, Advanced a Trifle
and Closed Very
Steady.
Provisions We're Heavy, and the Mar
ket Was Slow During the En-
tire Session.
Transactions in the Financial Circles
OF Wall Street.-The General
Quotations.
Special to the Globe.

CHICAGO Feb. 4-wheat which was de-
pressed and lower on the curb, opened firm
and advanced to S2SSc and at which price
Hutchinson doomed up as a seller, and
checked further improvements. The price
dropped To S2c but hardened and acted firm
later al S2iSc Wheat cables were better and
private London and Liverpool adyices told
of achange in sentiment, there holders being
less anxious to dispose of their property.
The market is described as being decidedly
improved i'll tone. Corn ranged 52s4@53c
early. The Inevitable and irrepresSible ''0ld
Hutch" did the gallery play on the pro-
vision pit this morning. He offered May ribs
at $50, and passing his card around, told
everybody 10 take what they would ut that
figure. The crowd helped itself to 100000
lbs, which was about the amount Hutch was
supposed 10 be long. Thus he has been elm
mated a. a factor in the rib deal. But will
he stay elimiuateds He probably won't, if
he thinks the trade wants him to stay
ont. Provisions were inclined to weak
ness, May lard going down TO SLS7is,
and May pork TO SI447I2. Throughout the
whole day the inquiry for wheat was inf
nitelv greater than the pressure to sell. ''Old
Hutch took this occasion to unload huge
line previously taken on, and had il not been
for him The market would have probably ad
yanced strongly. As it was the price of
May went 10 S2sSGS2l2c, with the demand
still unsatistied. There was a better and
more diversified buying than has been wit
messed in the wheat pit for thirty days. The
foreigners have generally covered their short
wheat here and elsewhere, and they seem to
be in the market on an increasingly liberal
scale on the long side. Exporting houses re-
port bids 1T the market and millers note an
increased inquiry for flour. The fact is,
English millerS and merchants have bought
so little wheat since December that conSump-
ton is catching up with them, and they are
now forced to make provisions for the future
The threatening aspect of affairs on the con-
tinent may have stimulated action somewhat
At any rate the tone of the foreign
breadstuff market has undergone
quite change for the better during the past
two or three days A strong advance here
now would meet with ready sympathetic re-
Spouse from the other side, unless appear
anceS are sadly deceptive. The occident all
favor the bull side of the market in the esti-
nation of conservative people.
Corn was dull and hardly budged, while
wheat was climbing. An increase in receipts
Is looked for, and these are expected to have
a depressing effect on values. The corn roads
are furnishing cars more generously than
heretofore and there is now nothing to pre-
vent a forward movement of the property
from the back country. Closing prices to-day
are an improvement in wheat over yesterday,
corn remaining substantially unchanged. Pro
visions were heavy and dragging all day.
''Old Hutch was steady seller, but he came
to the protection of the market whenever it
looked particularly weak. He was intent Oh
unloading, not upon breaking prices. The
Anglo Americana supposed to be practically
out Of lard.
THE EoUT Ne REFoET
CHI AGO. Feb. 4.-The grain markets were
started out strong on the report of the Aus
tro-G e IMAM alliance. Wheat was the center
of interest and there was fair activity and
some nervousness in the pit most of the ses-
sion. May wheat opened at SIC and imme-
diately advanced 10 S22sc. Persistent selling
by leading operator subsequently broke it
to S26IS2isc, at which figure trading became
quiet. Nearly all OF the big houses with
eastern conI ections were liberal purchasers
of wheat, and after the heavy selling men
toned ceased, May firmed up to S214c, and
just before the close again touched the high
est figure of the session and closed at S33sc
Corn was quiet and little of interest devel-
oped in the MAJ keJ. Many of the regular
traders were in the wheat pit. Prices kept
within l4c range, and tie closing prices were
the same as on yes tel day, May closing st 527Sc
Oats were also uninteresting and May closed
dull at 33c. Provisions were quiet and a
shade easier, the close finding pork 2lac, lard
5@7Iac and short ribs 2L2@5c lower Ar
rivals of hogs were fair and the market
two exceptions, were not in the market to
any extent. One operator, however sold
about 1000 tierces of lard and 100000
pounds of short ribs. After the large traders
ers, who traded lightly, and the market be-
came stupid. May pork sold at S14 47Iam
14.53 and closed at S14. 52la May lard at
S7.S7l2@1.95 and closed at $3.50. Short
ribs at 7.12ls37.17la and closed at 7.75.
The packing since Nov. 1 is 1,fS2, 600 hogs,
a decrease of 6S,0O0 from last year. At the
present Tate OF increase the shortage will be
overcome before the season closes, unless the
supply of hogs materially decreases
THE QUOTATIONS:
The leading futures ranged as follows:
closing at 76s4c; March, 764sc, closing at
1850; May, 82c, closing at S2Ssc; June,
S27Sc. closing at S3e: Corn-No. 2, Febru.
airy ase closing at 4a5se; March 4slsc clos,
527sc. Oats-No. ., May, 33c, closing at
33c. Mess Pork-Per Dbl, February. SI420,
closing at sl4. 27I2; March, S14.27i@. closing
S7.75, closing at S772l2: March, $50,
closing at S7.77l2; May, s7.95, closing at
$50. short RibsIPer 100 lbs,
May, SITS, closing at s 73S'
Cash quotations were as follows: Flour
l35: spring wheat. s1.75@450: rye, $40
@3 10: buckwheat, SOS. SO. Wheat-No. 2
spring. 76sS@77Iac; No. spring. 66@67c;
No. 2 red. 7914679l2c. Corn-No. 9, 4Sc.
Barley-No. ,, s1@S2c Flax Seed-Eo /.
S1.46. Timothy Seed-Prime, S246. Pork
Mess, per Dbl. SD 25@I4.3O. Lard--Per 100
lbs, 81. T0Ge7.7 1913. Short Ribs-Sides (loose),
S7.57I2: dry sailed shoulders, (boxed}, Se@
COS; short clear sides boxed, Ss@S. O5.
Whisky-Distillers' finished goods, per gal,
Sl.l3. Reccipts-Flour, Is. 600 bbls; wheat,
bu; rye, 5000 bu; barley. %, 600 bu. Ship
blu; corn, $4,000 bu: oats, 81, 900 bu; ryc.
5000 bu; barley, $4,000 blu. On the pro
duce exchange to-day the butter market
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