St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-03
The COMMERCIAL WORLD.
Provisions We're the Leading Features,
With Lard as the
Leader.
Corn and Wheat We're Both Active
Sellers During the
Market.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Special to the Globe.

Epeclal TO the GlOue
CHICAGO, Feb. 2.-Interest centered in pro-
visions this morning. AS on yesterday, lard
was the leader. Stocks were published in the
morning papers and they were below the
mild estimates of the bears. Instead of there
being 90, coo or 10, 900 tierces, as they had
been predicting, the stock was AZ, 600 tierceS
of the contract grade. Last night May lard
closed at 81. 50. 1t opened to-day at S1.S2l2
and advanced sharply 10 S7.95, with the
whole list of high rolling bears sellers on the
bulge When the market was $50 old
Hutchs broker, McGinn, made 10000
tierce bluff, Offering TO buy that sized lot at
s.. The bluff was promptly called by
Singer. The stock of ribs was given at IS
o00, 900 lbs, but a correction subsequently
made the figures 34,0o0,O00 lbs. May ribs
went TO s.. s2le and were firm at $50. May
pork advanced sympathetcally TO S14 72i2
but settled back to$l4.55 within a half hour.
There are l47. 900, 600 bblS of new pork and
$4,000, 900 bbls of old in local warehouses, a
larger quantity than was in stock last year or
the year preceding. The provision market
continued excited and nervous during the
early part of the forenoon. The market
fluctuated with more or less violence for a
time, but during most of the session was well
supported at Il material advance over yester-
days average range. Transactions were on
large scale, and the country is again get
ting into the deal with no little enthusiasm.
Kansas City, and in fact every community
that can see and feel the effect of short crops
last fall, buy on every break and when the
bulges come they get excited and
doule up. The c ocn market has
strong support from the same quarter.
The range on May corn this forenoon was
53ss9 52S4c. The markst was strong on
VI 10y and 81 III heavy nlati vp
offerings, but acted firm at a slight improve
ment from bottom. Trading was on more
generous scale than for some days.
ST. Louis was the largest seller of wheat.
Advices from that point representa- the
cropi prospects in.kentucky, Tennessee and
the South generally, as fine. New York was
moderate buyer. and there is fair local
support. The Northwest is writing bullishly
as d rule, and with such people as Allerton
and Hutchinson pronounced bulls, there
will be found plenty of people on change
and in business circles who will feel that
there must be good grounds for anticipat
ing a demand for the grain at
good prices. The consumer is
the best friend wheat has to-day,
however and the consumer is doing great
execution in reducing supplies. The prices
of May ranged from S2ss@S1lsc, with the
grain and provisions were easier; pork sold
DC lower, wheat ssc, corn Isc, and oats a
shade lower. $50 p. m. Prices: Wheat
February, 75Ssc; March, 76Isc; May, S17sc;
June. S2Isc. Corn-February. 47Ssc; March,
4T7sc; May, 525Sc. Oats-May. 32S4c. Pork
February, S14.77Ia; May, S14.55. Lard
February and March, S7.77l2; May, $1,000
1928. Short Ribs-February, S7.57l2c;
March, S7.62I2; May. S7.77l2.
THE ROUTINE REPORT.
CHICAGO, Feb. 2.-Markets stronger to-day.
The moving influence was higher prices of
provisions. Where local stocks of lard were
expected to be 10000 tierces, the official
monthly statement made them only $4,000
tierces, and by a clerical error ribs were
shown to be over 5000 900 too many. May
pork opened 10c higher at S14.65, advanced
10 SI4.72I2. fell back to S14.57l2. and got up
again to SLIGO. Trading in pork and ribs
was light. Transactions i'll lard overtopped
everything else on the list May opened at
S7.S2l2. One broker bought from 10000 to
$4,000 tierceS, taking 10000 at one bid, the
price being from S7.95 to So. May wheat
opened at S414e. 1t went to S2SSe and fell
back to S17sc, but for the greater part of the
time it was steady around S17s@S2c. Corn
was strong in sympathy with provisions.
May opened at 53c. There was an early ad-
vance to 53I46553SSc. but declined to $3.50
63c, and held rather steadily at those figures.
THE QUOTATIONS.:
The leading futures ranged as follows:
Nheat-No. March, opening I6l2c,
closing at 761sc; May, seize, closing at
S15sc; June, S234c. closing at S2Isc; July,
S2S4c, closing at S214c Corn-No. 9, March,
4SSSc, closing at 477sc; May, 53c, closing at
525sc; June, 53Isc, closing at 325sc; July
54Ac. closing at 53l2c. Oats-No. 2, May,
331sc, closing at 33$4c; June $3.50 Mess
Pork-Per Dbl, May, SLIGO, closing at
S1455. Lard-Per 100 lbs, March, $50,
closing at S7.7712 May. S7S212, closing at
$3.50 Short Ribs-Per 100 lbs, Feb
THaTy sa6S closing losing at at s7S312
May. $50, closing at $5.77lzs..
Cash quotations were as follows: Flour
Steady. Wheat-No 2 spring, 757S@7634c :;
No. 5 spring, 6606612c. Corn-No. 2, 48c.
Oats-No. 2, 29030c. Rye-No. 2, Gle.
Barley-No. 2, S1@S2c. Flax Seed-No 1,
Sl.46. Timothy Seed-Prime, S2.45. Pork
Mess, per Dbl S14.3501 40. Lard-Per 100
lbs, 81. S0Q7. 9Zl2. Short Ribs-Sides
GOOSE, $3.50: dry sailed shoulders, (boXed)
S605@6.10; short clear sides (boXed),
S795@S. Whisky-Distillers' finished goods,
per gal, Sl.13. Sugars-Cut loaf, S@SI2c;
granulated, Else; standard A Csc. Re-
ceipts-Flour, $4,000 bbls; wheat, 29, 600 Blu ::
corn. 101, 900 bu; oats, los, 900 bu; rye
5000 bu; barley. $4,000 bu. Shipments
Flour, $1,000 bbls: wheat, 1000 bu; corn,
$4,000 bu: oats, S3,O 900 bu; rye, 1000 bu /;
barley, $4,000 blu. On the produce ex-
change to-day the butter market was very
quiet; extra creamery, 29l2@30I2: fancy
dairy, 25Q26c. Eggs, 20@22c.