St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-18
THE COMMERCIAL RECORD.
At the Opening Yesterday Wheat Was
Quiet, Corn Firm and
Active.
Pork Was Barely Steady and Ribs and
Lard Were in Good
Demand.
Transactions III the Financial Circles
of Wall Street.-The General
Quotations.
Special to the Globe.

in good demand at a shade better prices.
Schwartz. Dupee X Co. were large traders on
both sides OF the market in pork, and early
fluctuations were within range OF $3.50,
the extremes being Sl3.S7l2@12. Robson
was heavy buyer of ribs, which advanced
from S7.31is to S7.45. Lard was quoted at
S7.73@.7.S0. Wheat for May started off at
S0Ssc, went to Sol2c and back 60Ac. There
was substantial buying but no especial in
dication OF the presence of an aggressive
bull spirit Cables were steady, and on the
whole not particularly encouraging to the
bears. Another let up in the movement OF
corn makes that cereal strong, and May was
bid up 10 Ole, Il rally of Use from point
of greatest depression yesterday. Another
driye'was made ut pork about the middle of
the forenoon, and pork was forced down to
Sl3.75Cal3.So. There was a good demand,
and the market was checked. Many of the
local operators VINO were conspicuous sellers
yesterday bought heavily on the decline
this morning. A. Nj. Wright 4 Co. were
observed buying on rather large scale, but
quietly. The unobrusiYe buying of this
firm during the past week, and always on
declining market is beginning TO attract at
tention, uot unmXed with uneasipesS. Who
they can be doing business for is one of the
things 10 fellow can md out. At no time
since y. VI. Wright 4 Co.'S purchases began
10 De nOllCcu nave lutN Diu IOT property.
The deal. if there is Il DEAL does not
look like Merry one at this stage
The market is settling and every now and
again some one goes through an apparently
rotten place in the ice. No attempt is being
made, seemingly, 10 induce short Sc Hing, but
the bull party is losing more ground than it
is making without so far as anybody can
see, adding to its lines largely, though it must
be doing something in that direction. the
traders argue The pork deal can develop
more perpleXing features than any thing on
the floor. The colorS change with bewilder
ing rapidity. Two weeks more will see the
end of the winter packing season and then
the trade will have definite facts TO figure on
in the matter of stocks. Wheat got heavy
and corn, too, lost little of its snap. A great
deal depends OF the action of the railroad
managers touching freights, and operators
were slow to plunge about much until they
knew the results of the meeting. The pre-
vailing opinion was that the troubles, both
East and West, would be harmonized, and
this belief TOOK the form of buying orders
later in the day. May wheat which had ad
Yanced several times TO SOl2c and then been
suffered to settle back TO SUIs@S014c, went
to SOl2c again shortly before the close. May
corn, which had dragged back from sic to
50l2c rallied 10 sic once more, and acted
strong at the improvement. New York was
bulliSh on wheat, and there was fair buying
here to-day for New York account. The sit
uatiOn i'll corn is hardening, and better
feeling III that cereal is shown from day
to-day The failure of the cut rates to pro-
duCe more than mOmentary increase in the
movement of corn from the interior is caus-
ing a revulsion of bull sentiment i'll the trade.
Transactions to-day were on n liberal scale.
On the day prices changes are not important.
(f1DSi.aos Sbpvv . Slioht Uai in Sliolt
loss i'll pork and gain in both ribs and
meat There was fair activity and slightly
better prices for grains and provisions at the
afternoon session. Wheat sold Ac higher
corn SSc and oats q shade higher. Pork
gained sc and lard and short ribs 2i26p5c
Wheat-February and March. 75a4c: May
SO5Sc; June, Sic. COrn-February and
March. lie; May. 51hc; June, 51lsc. Oats
May. 3I$sc; jane 3Il2c. Pork-February
and March. $3.50: May. S14O2ia; June,
SI410. Lard-February and March, S7.70;
June, S7.S7l2. Short ribs-S7. 32l2; March,
S6.32l2; May, $50; June, S7.59l2.
THE ROUTINE REPORT.
CHICAGO, Feb. l7.-There was nothing new
10 warrant it. but spectators plunged in the
bull side in wheat and corn this morning i'll
expectation of a reaction. This action on
the part of the local operators had the effect
of firmIng up the markets for an hour or two.
The business, however, turned out to be but
and this was on the outside of the closing
price last night and the opening price this
me ming. May started at S0Ssc, sold at
SOl2c down to S0Isc. up a second time to
S0I2c and closed at SO58c. Corn was fairly
strong throughout the session, and the re-
suit was = gain of l2c, prices at no time
being more than one point under the open
ing figure. May stood the bulk CT the trans
actions which, on the whole, were light
May opened nj 507sc, sold up 10 Sic. down
to 50i2c ana closed at 5014c, with still fur
Their strength on The curb after hours. There
was fair speculative activity in ts,and the
market had 4 firm tone. May sold from Bic,
the opening price, to 3l$sc at the close. The
skae-out in pork commenced yesterday was
continued to-day, the market being fully as
irregular and prices ranged lower, May sell
ing from SI4 TO $3.50. but quickly rallied,
and closed at Sl4.U2l2 gain of 2l2c from
yesterdays latest sales Long stuff came out
freely. The hog bear traders were in the
market as sellers early, but as buyers on the
decline. Shorts who had the profits in their
deals wanted 10 secure them, and the pur-
chaseS by this class OF operators was sutf-
Gent TO cause sharp rallies. Lard was fairly
active but more irregular, selling down 2l2G1
Sc carly, bat later rallied and closed at out
side figures, an advance of SC, last sales
for May being at $3.50. A large business was
witnessed in short ribs. A large packer sold
1.UOOOC0 pounds. Spectators were also
free sellers. The offerings were readily alb
sorbed, and the close showed a Zoe advance
May sold at SI.37l2@7.5G. and closed at
$50.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat-NO. ,, March opened at 75I2c,
closing at 75Ssc; May opened at 9Ossc, clos
ing at S05sc; June opened at S034c. closing at
Sic: July opened at SO7Sc. closing at
Sic. Corn-No. .. March opened at 46I2c
closing at 47c: May opened at 505sc clos
ing at51 lac; June opened at 50l2c. closing at
51i5c: July opened at 51ISc closing at l 7sc
Oats-No. 2 May opened at Bic. closing at
3I3sc; June opened at 81 Z. {, closing at 5 lac:
August opened at 2Sc. Mess Pork. per bbl-
March opened at S13.T7l2, closed at $3.50;
May opened at Sl4. closing at S14O2l2.
Lard. per 100 lbs-March opened at $3.50,
closing at $40; May opened at S7.75. clos
at S7.S7is: July opened at 81 1924, closing
atS7.95 Short Ribs, per 100 BISMARCK open
ed at g.. %, closing at S7.32l4; May opened
o opened al s7 t%si closing at s7 S9pe
Cash quotations were as follows: Flour
quiet and steady. Wheat-No. 2 spring. 75l2@
T7l2c; No. 2 red. soc. COrn-No. 2, 4712GD
4Sc. Oats--No. 2. 2714@29c. Rye-No.
., Gle. Barley-No .. 750G77c. Flax Seed
No. l, USl.4l bid; prime timothy seed,
S2.47@2.1s. Mess POrk-Per bbi S13. 77I2.
Lard-Per 100 lbs, S767Ia. Short ribs sides
Qoose1, ST.25; dry sailed shoulders (boxed)
S5.90@6.03; short clear sides (boxed) 81. 80
as. Whisky-Distillers finished goods, per
gal, S1.15. Sugars-Cut loaf, 75s08Ac; gran
uIated, TIsc; standardA," Gaze Receipts
Flour, %, 900 bbls; wheat, 10000 bu; corn,
$4,000 bu; oats, 10000 blu; rye LOCO
bu; barley, $4,000 bu. Shipments-Flour
$4,000 bbls; wheat, $4,000 bu; corn, IOO-
600 bu; oats, 10000 blu; rye, 1000 bu;
barley, 1S,000,bu. On the produce exchange
to-day the butter market was tame; cream
nru dol