St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-18
The COMMERCIAL RECORD
ali the Markets Opened Weak and Lower
Oh the Chicago Beard Yes
terday.
There Was Good Scattering Demand
for May Wheat, but the Price
Fell a Fraction.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Snecial TO the Globe.

Special TO the Globe.
CHICAGO, Jan. 17.-Provisions opened weak
and lower, with May pork quoted at $l5.l5,
May lard at 81. 6212 and May ribs at $3.50.
The market looked shaky, and but for con-
eerted buying by leading shorts, prices must
have gone lower. The bears are not at all
anxious 10 break The market at this stage.
They favor keeping prices about where they
are for few weeks. believing that by so
doing stocks. will accumulate abnormally
and values be more certain 10 drag down.
Their programme is a waiting one. Grain
was duh and weak Cables were quiet. May
wheat ranged at S4IS@S3s4c the first hour
and May corn at 54IS@5324c. In the open
record Of the market these days there is little
that can be twisted into news. Behind the
scenes things are working, however. There
are unQuestionably heavy interests at stake
in wheat and corn. but the grain markets are
water-logged for the time being. Daily fluct-
nations are within narrow limits, and moth
ing of a sensational character has arisen re-
Gently TO disturb the tranquility of the spec
ulatiye pool. 1t is dormant The concealed
forces are in a state of absolute repose. There
are no indications of the near approach of
storm. The speculative barometer gives no
sign of disturbance. This morning the only
business done was by local shorts, who bought
in large amounts of property TO fill
outstanding contracts. The market was left
weaker than before when this element of
support was taken away. The country is no
longer sending in new business. 1t has
about all the provisions it wants. \ big ad
vance might attract more noyices, but just
now it is entering into no new contracts.
Pork moved within a Zoe range to-day, and
ribs and lard within a limit of sc. There was
better outside buying of wheat to-day than for
some time. The market was very dull, how
ever and closing showed no material change
as compared with yesterday. In corn moth
ing worth talking about transpired. At the
afternoon session there was considerable ac-
tivity in grain and some excitement in pro-
visions. When pork touched SIS for May
stop orders caused a stampede, and there was
break Of sc in a few minutes. Ribs and
lard also went off in proportion. Wheat de-
clined Ice corn Ac and oats ssc. 2:30 p. m.
prices: Wheat-January, 97Isc; February.
T746I77Ssc. Corn-March, 4S7Sc; May, 53ssc.
Oats-May, $3.50. Pork-January and Feb
ruary, Sl4l5; May, S1457I2. Lard-Janu-
AIRY and February, 1928; March, S7.32l2;
May, STATE. Short Ribs-January and Feb
ruary, S7.45; March, S7.55; May, $40.
THE ROUTINE REPORT.
CHICAGO, Jan. 17.-All the markets on
'change opened weak and lower. May wheat
opened lsc off at S4lsc, and then Sagged off
TO $3.50 and became steady later around
Sic. There was good scattering demand
for May wheat around Sac as the session ad-
Vanced, and for that reason the market held
al S44. This was the top price for the day.
On the afternoon session the market again
weakened, and May closed at 93SsG S312c.
Corn was remarkably dull, and there was
not single trade above %, OtO bu lot dur
ing the whole morning session. May opened
lsc off at 54l4c. declined to $50
53Tsc sold steady around 537sc for some
iuna 70 at
opened rather weak. receipts of hogs al the
yards being larger than expected. May pork
started Toe lower at Sl5.15, declined to
$3.50, reacted under general, buying to
$500, again reacted and toward the close
became very weaking, closing at S1457l2.
May lard sold at S7.47l2@7.65. closing at the
former figure. Short ribs were offered more
freely Than buyers were able to take, and
there was considerable decline in prices.
May opened at $50 and closed at $40.
THE QUOTATIONS.
The leading futures ranged as follows:
Mheat-No. January, 1850. closing at
&c; February, 77ssc, closing Attic; March,
7S5sc, closing at 7Sc; May. S41sc, closing
at s4l2c. Corn-No. 2 January 4ss4c, closing
March, 49e, closing at 4s7se; May, 54Isc,
closing at $3.50. Mess Pork, per bbl--Jan
uary closed at SD ID; February, S14. 72l2,
Sl4;;57l2., Lard. per 100 lbs-Jangary,
closing at S7.25; March, S7.45, closing at
S7.32l2; May, S7.62l2, closing at S7:47l2.
Short Ribs, per 100 lbs-January. S7.65,
closing at SIG; February, $7.62l2,
closing at $7,45; March, S7.7ol2, clos
ing at S7.55;. May, $40, closing at $40.
Cash quotations were as follows: Flour
quiet and prices unchanged. Wheat-No. 2
spring, 77ss@7Slac; No. 3 spring, 69c;
No. 2 red, SIC Corn-No. ., 4Ss4c. Oats
No. 2, 3l@31l2c. Rye-No. 2, 63c. Barley
No. 2 75@S5c. Flax Seed-No. l, S1.44.
Timothy Seed-Prime, S2.4s. Pork-Mess,
per Dbl, Sl4.70@1475. Lard-Per 100 lbs,
$7.35. Short Ribs-Sides Qoose), $765:
dry salted shoulders boxed, s.. 9O@6; short
clear sides Cboxed), SS15@S.2O. Whisky
Distillers' finished goods, per gal, S1.1O.
Sugars-Cut loaf, S@sl2c; graduated, 7l2c;
standard a." &c. Receipts-Flour, Ii, 600
bbls; wheat, $4,000 bu: corn, ST. 900 Blu;
oats, $4,000 bu; rye, 5000 bu; barley, 81
600 Blu. Shipments 10000 bbls;
wheat 10000 bu; corn, 119,O0Obu; oats,
bu. On the produce exchange today the
butter market was little more active and
firm, at 24@31lac for creamery and 17Q26c
for dairy Zoos 01EODp