St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-22
THE COMMERCIAL RECORD
Corn Was Lively and Miscellaneous
Buying Was Good For
While.
Provisions Ruled Steady, With the Bears
Trying to Break the
Market.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
Special TO the Globe

Special TO the Globe
CHICAGO. Jan. 2l.-The board of trade
markets were quite active for a little while
this morning. Corn was especially lively,
and there was good miscellaneous buying on
the theory that the same parties who started
the advance couple of months ago and
aoated out on the bulge are again getting
under the deal. Stories are again circulating
Of the high prices that are being paid for
corn at interior points, and these are pro-
ducing an effect. Parties who thought May
corn very dear at 52slc yesterday were
anxious bidders for some this morning at
53S.dE337sc. Wheat was quiet around the
opening at SS0S3l4c, and cats for May were
quoted al 33As6133s4c. Provisions ruled
steady. with the bear party making no effort
apparently TO break prices. Indeed, many
OF them were buyers in a small way, and May
pork at one time sold as high as S1460. The
prices soon dropped back TO SI4.52ls. Other
products were dull The provision bulls feel
that their position is based on good trade
sense. They point to the enormous cutting
down of meat and food supplies as forming
substantial foundation for the theory that
provisions must command good prices this
year. The cattle ranges throughout large
portion of the West have been almost depop-
ulated. and the losses in Dakota, Nebraska,
terrible. The cattle interest has
suffered woefully This may so shorten
supplies of beef that hog products will
go into unexpected consumption at good
prices, but the distributors don't talk hope
fully. They have seen the domestic con-
sumption and export demand Shrivel and
shrink az al astonishing rate since values
started up, and they are now predicting that
III spite OF the acknowledged shortage in the
hog crop, both in number and in weight,
Western stocks ut the end of the winter pack
ing season will be largely in excess of last
YEAR They contend further that the logger
prices are maintained at the current high
range. the greater win be the depression that
must follow. That is the theory that the
bear party Is operating on, and that explains
why they did not attack the market when it
was ia demoralized state after the slump
the other day. They have been actually
helping the market on its les ever since.
Their selling has been done quietly ana I'M
der cover. Grain had its advance early. The
market was just moderately active at the
range established soon after the opening.
Most of the trading in May corn was around
53Ssd51c, and in May wheat at S30S34c.
Wheat was weaker than either corn or
oats. Il had some outside support and the
foreign houses bought some; but the feeliag
did not seem to be in the least buoyant. Corn
was strong on the covering of local short
wheat. There was buzzing all day about
heavy purchases for account of a Chicago,
Burlington & Quincy syndicate, but it did
hot have much weight in determining val
ues, though it made some of the scalpers
nervous The closing range all around was
higher than yesterday.
THE ROUTINE REPORT.
CHICAGO. Jan. 2l.-Ile usual SATURDAY.
quiet prevailed at the opening or the board
to-day, although provisions showed evidence
of strength. Wheat was stupidity dull from
start to finish. May wheat opened a shade
of at S3Isc. There was general evening
up by scalpers during the session, but prices
remained between S3QS3Ac, and May closed
at S3lsc. Corn was quiet at the start but did
not remain so long. May opened unchanged
at 53Sse. Several prominent houses began
picking up all of the corn that was offered
around the opening, and this soon frightened
the shorts into covering, and May was rushed
up 10 $3.50 i'll very short time. Corn con-
tinued active and firm all through the session,
and there was practically no reaction from
the early advance, although there was some
selling at top figures. May closed at 53S4c,
oats started i'll with good brisk trade in the
May option. and there was an advance of
s405sc over Yesterdays closing prices. The
frmnesS was due to sympathy with the corn
market, ana liberal buying by prominent
operator. In provisions considerable inter-
est was manifested, and the feeling was
tirmer in general way. Speculative offer
ings were not very large, while the local
and outside demand was fairly active. Shorts
purchased moderately. May pork opened at
Sl4.55, an advance Of 2lac; sold to Sl4.62l2
@1465; reacted to S1450, and closed at
SLIGO Lard and short ribs were moderately
active. May lard sold at 81. 62laGh7. 6Ti2. and
closed at S7.65. May ribs sold at $7.77I2@
7.S2ls, and closed at $3.50.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No , January, 76s4c, closed at 7634c;
No. February, 1859, closing at 1850;
March. 71l2c, closing at 7712c; May. S3Isc,
closing al S:isc. Corn-No. 2 January, 4S1ac,
closing at 4S34c: March closed at 1850; May,
53s6c. closing at 53s4c. Oats-No. 2 May.
33I2c closing at 335sc. Mess Pork per Dbl
February. Sl4.1O. closing at S14. 17l2;
May, Sl4.55, closing at SLIGO. Lard,
per 100 Ibs--February, S7.45, closing at
May, 81 .G2ls, closing at S765: Short Ribs,
per 100 lbs-February, S7.52l2, closing at
S7.52l2; March, $3.50, closing at S7.65
May, SITE, closing at $3.50.
Cash quotations were as follows: Flour,
quiet and without special feature; prices un-
No. 8 spring, nominal; No. = red s3@83s4c
Corn-No. ,, 4Ss4c. Oats No. ., 3G63OI2c
Rye-No. =, 63c. Barley-No. 2 S4@S5c.
POrk-Mess, per Dbl, S14.2O@14.25. Lard
Per 100 lbs, 81 As. Short Ribs-Sides
loosel, S7.55: dry sailed shoulders (boxed).
@7.95. Receipts-Flour, 10 600 bbls; wheat,
$4,000 bu; corn, $4,000 bu: oats. 10000
bu; rye, 1000 bu; barley, Sc, 600 Blu. Ship
ments-Flour. IL 600 bbls; wheat, Is, 900 bu;
corn, 1000 bu: oats, $4,000 bu; rye, 5000
bu; barley. g., 900 bu. On the produce eX-
change to-day the butter market was steady
and firm; stocks slight: creamery at 22I20
23c: dairy l7G125c. Eggs, 21@l22I2c