St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-05-21
The COMMERCIAL RECORD.
Tie Bulls and Bears Have a Lively
Tussle in the Wheat Pit Through
out the Session.
That Cereal Sold Up as High as 80
Cents, But Declined and Closed
at 80 ga Cents.
Transactions in the Financial Circles of
Wall Street.-The General
Quotations.
Speciai to the Globe.

6peclal 10 the OloDe.
CHICAGO, ILL.,, May 19-Wheat went up
through the eighties without very staunch
opposition. But on the day that July OPP
ton passed 90c a big fight developed. There
has ever since been a powerful bear party
and each day an interesting struggle. To-
days has probably been the fiercest yet,
Ream and Bloom leading the selling. At
night Notwithstanding enormous buying by
the bull party, July was weak at SSs4c. The
opening was at 90l2c for the active option,
July, with the bull crowd plainly making
efforts to boost the price and to get short
sellers on the run. The big buying by Helm
holZ, by E. W. Bailey, and by Stauffer
was set down as for the Cudahy
party, as was also, of course, the buying
by that big operators own house. But the
market Jagged, and outside winter wheat
markets were very sick, and the bears here
apparently feel very secure. Bloom and
Ream assumed the selling leadership, and
were in the pit in person about all of the
session, and demonstrative sellers all the
while. This side had to aid them. heavy sell
Ing by ST. Louis, fair weather here, better
crop reports from some sections, and very
small export movement for the day. Outside
bulls seemed TO prefer standing off and
watching the struggle between the high
to their own purchases. The result was
that the buying, as the market declined, be-
came almost altogether by the Cudahy agents
while the selling was quite general. Even
the foreign houses took that side with some
boldness. AT 90c for July it looked for an
hour as if the market was ''pegged.'' There
certainly was good deal of buying there.
Then al soc there was the same kind of q
halt. But the buying was not sufficient at
either point. and the July option broke down
to SS5sc and closed only lsc higher. Corn
was fully as weak as wheat, May dropping
from 59l2c TO SIC and selling on the curb
Immediately after l o'clock at 5Gs4c. The
very large receipts stated the decline. Oats
were dull and moved upand down with corn.
III provisions the movement was a little
nervous. Trading opened at considerably
better prices all around than at last nights
closing, and under a good demand lard sus-
tanned Il further improvement. As the day
advanced. however. the market sympathized
with the break witnessed in grain, and suf-
fered a general depression. Still the closings
showed but little change from Yesterdays
final prices. During the first part of the
morning trading was quite active, especially
in lard, but when prices began to recede bus
mess became comparatively slow.
THE QUOTATIONS..
The leading futures ranged as follows
Wheat-No. = June opened at S934c, closing
at s77sc: July, 8 l2c, closing at SSs4c;
August. S9l3c, closing at S7lsc: September
SSl2c closing at S6ISc Corn-No. May
opened at 59lic, closing at 57c; June, 577sc,
closing at see; July, 5Slsc. closing at 5Gssc;
August, 5Slsc, closing at 5G34c. Oats-No.
MAY opened at Soc, closing ut 34ssc; June.
1890. closing at 3334c: July, 33S4c. closing
al 33i2c: August, 29isc, closing at 2S5sc
Mess Pork, bbl-June opened at SI4.4o,
closing at sl4:35; July; $l437i2, closing
S1455. Lard, per 100 lbs-June opened
at SS.62l2. closing at S.. 90: July,
SS.67l2, closing at $3.50: August. SS.72l2,
closing ut SS.G7l2: September. SS.75, closing
at SS.z2l2. short Ribs. per 100 lls-June
opened at $40, closing at S7.62l2: July,
S7.77. closing at 1870; August, SIT, closing
at $40; September, S795, closing at 81 So.
Cash quotations were as follows: Flour quiet
and steady: winter wheat. S2.7j@4 70;
spring. Sl.T5@5: rye, SO as, Wheat
No. 2spring, S1@ STi4c. Corn-No. .. 567S@
5Sc; Oats-No. ,, 3l5sc. Rye-No. ., 65c
Prime timothy seed. $3.50 Mess pork. per
Dbl, Sl43C@ l4.35. Lard, per 100 lbs,
SS.62l2 Short ribs, sides Qoose). S7.62La.
Shoulders, dry sailed (boxed). S66l6. %;
sides, short clear boxed, SS.I0@S. Is.
Whisky-Distillers finished goods. per gal,
Sll6. Sugars,cut Leaf, Tea $3.50; granu-
lated, 7c; standard a 6l2c. Receipts
Flour 81 600 bbls; wheat $4,000 bu; corn,
233,0O0 bu; oats, 232 600 bu: rye 1000
bu: barley, 6.C00 bu. Shipments-Flour
1000 bblS: wheat. 1000 bu: corn. 240, 900
bu; oats. 133, 900 bu; barley, 5000 bu. On
the produce exchange to-day the butter
market was in good demand; high grades l2c
lower and low grades very firm; creamery.
19GD23l2c; dairy. ls@2ll2c. Eggs easier and
receipts larger ut l2G4G113c.