St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-02-27

The COMMERCIAL RECORD.
Public Cables We're Firm and Better in
Tone, but Private Advices
We're Conflicting.
Trading in Both Pits Was of Fair Vol
me---Provisi0ns We're Dull
and Steady.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.

will be obliged to import 4S,000,OO0 bu of
wheat before the next home crop becomes
available; most of this must come from
America. Much of the wheat now shipped
to France is destined for Marseilles, which
naturally looks to Russia for supplies.
Clark's New York correspondent wires
that majority of the private cables
received there are disappointing. In the
local market Hutchinson tried to buy large
line of wheat below S0s4c, but he didn't get
much and openly showed his chagrin.
Shorts generally seem to be DESTROYS of COW
erlng. The range on May corn this
morning was 5lSS0519sc, and the
tone was firm. Trading in both pits was
of fair volume. Provisions We're dull and
steady early. with May pork quoted at
Sl4.02l2014. OLE, May lard at $7.s2Ia, and
May ribs at S7.37i2. 1t is figured that the
long interest in pork at this time foots up to
between 100000 and 10000 barrels, of
which probably 15O,O00 barrels is repre-
sented by the holdings of Swift, the
Fowlers and Robert Warren, who may
or may not be acting on joint account
These concentrated lines are thought to be
about the same as they were at or about the
beginning of the month, the principals hay
Ing unlOaded on the bulges and bought on
the breaks. The country is supposed
10 be long anywhere from $50, 200
10 100000 barrels through commis-
sion houses The short interest is largely
concentrated i'll a few operators and firms.
1t has been reported that Cudahay has been
covering large portion of his short interest,
but those near him admit that he is still
heavily short, possibly to the extent of 1OO,-
000bbls. Ream is also sitting on large line,
and George Balwin, Singer and Charley
Wright and the whole Schwartz and Dupee
combination may be found arrayed on the
bear side of the deal What Armour's in
terest is nobody pretends to be
able 10 tell. His house fought the advance in
pork from Sl2 to S145O, selling day in and
day cut, up hill and down, pounding the
market without rest. But since thepIice
touched that point he has not been heard
from. He crawled into hole, and so far as
his active influence on prices gagged by op.
erations in the pit went, he might as well
have been asleep Or dead. Assuming that
he has been standing for sixty
days he may be short anywhere
from 100000 to 100000 barrels, A quiet
canvass has been made by the speculative
shorts for the purpose Of finding out whether
or not he has been buying through commits
sion houses. But the country interest is be-
heyed to be genuine. Testimony to that
effect is strong in any event. Still it has
been observed by one of the wise men of the
pit that Armour is not in town
yet and whenever he comes to town
ne is riding on the back of a bull Inter
preted for the benefit of lay readers this is
supposed to mean that he is liable to turn IN
long instead of short of the market Stocks
OF contract pork the first of next month are
expected to be about 60.0OG@165, 900 bbls
That any clique or combination should be
seriously contemplating corner or
deal in pork on purchases no
greater in the aggregate Than the
actual stocks does not look reasonable
on the face of 1t. Blooms attitude on pro-
visions is now simply that of scalper-a
scaiper on the bear side. He covered TO-
600 barrels yesterday and to-day at a round
Si4 and advertised himself bear Oh the
situation. Speculative trade is now turning
largely to ribs to the neglect of pork Price
changes to-day were insignificant. Wheat
and corn are becoming more interest
ing, not for what is doing, bat
for what is expected to occur.
The various shorts in corn have pretty
generally covered on the bulge
and the market displays occasional
symptoms. The prices at one time to-day
broke to sic, a shrinkGge of 5sc from the
best quotations of the morning; but the
market subsequently hardened, and the
price hung around 5l14c, closing firm at
yesterdays closing range. Receipts, though
large, do not show an increase over last
week, taking the combined returns from all
Western points, more had gone to tide water
Oh through cut rates. But Chicago contriyes
to be the most attractive market in spite of
the disadvantages in the matter of freight
and inspection. Wheat ruled very firm, ex-
q nln N yUhn f,o III
desert came in and bluffed it down to S0SsM
SOl2c. The same party was observed little
While afterWard trying TO buy back his wheat
at eO5s@9O34c.
The market was steadily held all morning
between S0l2c and SOa4c, and closed firm
There was good buying in every other mar
ket, from Duluth and st. Louis on the West
to New York on the East Hutchinson was
quoted as buyer all along the line.
THE ROUTINE REPORT.
CHICAGO Feb. 25-The bullish feeling
which marked the close of the session on
Friday was continued this morning, and the
trading early was of very confident charac-
ter. The liberal export clearances encour-
aged wheat buyers, and the price opened Ice
over the close at 90l2c, and went up to SOs4c.
Then came the announcement of New
York failure, the significance of which was
not known. May Immediately declined to
eossc, many holders selling out quickly
at loss. Half an hour later, the
market had reacted Ac. and May closed
at SO34c, the highest figure of the dav.
Corn opened steady at last nights
prices but the light receipts and, the
51$sc, the opening figure, to 5l5sc The
market was nervous. however, and when the
little scare came. May sold off to 51@5I1sc.
There was slight rally from this point, but
the receipts for Monday were estimated at
445 cars and the price of May could not
again get above the opening, where it closed.
There was fair activity in oats at the outset.
but prices kept within small range, and be-
fore the close the market was dull and ne
elected. May sold at 31Isc and 313SG3II Zoe.
closing at 31Ac. Provisions We're slow,
but strong. Trading was chiefly between
local scalpers, and fluctuations were
small S1t H. the 1erd range on pork being 12lac;
large operators bought pork early and ad-
vanced prices. When they withdrew weak
feeling developed. and decline of 12I2C
followed 10 but last sales were at an advance
ranged at S13.9712@14 10, and closed at
S14.O5. Lard was neglected May sold at
S7.77l2@7. 82!2, and closed at $3.50. Short
closed at $7.35 for May.
THE QUOTATIONS.
The leading futures ranged as follows:
Mheat-NO. 2, February, 75l2c, closing at
aoe March tot2e closing at a5ssc May
47c, closing at 47c; May, 51ssc, closing
at 51ssc; June, 514c, closing at 5 Isc; July,
51s4c. closing at 515sc. Oats-No. 2, May,
opened at 31Ac, closing at 31Ac; June,
31Ac, closing at 314c; August, 2Sc, clos
ing at 2sc: Mess Pork, per bbl-March
closed at $13.91l2; May. S14.O5, closing
Lard, per 100 lbs-March opened at $40;
May,S7 SOLE. closing at $780, June. 1917,
closing at $7.S5; July, $7.95, closing at
Sl.92l2. Short Ribs, per 100 lbs
March, 81. I'VE. closing at 81. Is; May, ST. 321a
closing at S7.35 June, S7.45, closing, 81. 42l2;
Cash quotations were as follows: Flour
slow but steady. Wheat-No. spring, 1854
@7SAc; No, 8 spring, 66@6Sc; No. 2 red,
@29I9c. Rye-No 2. 59l3c. BarIey-No. 9,
77@80c. Flax Seed-No. l, $1.45. Timothy
Seed-Prime, $2.43. Mess Pork-Per Dbl,