St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-06-04
The COMMERCIAL RECORD.
The Clique Now Ruling the Market Jams
Wheat Down Two Cents in
Minute.
Corn, Too, Went the Way of ALI Grain
and Closed Three-Quarters
Off.
Money and the Extent Of Its Manipula-
tons in Wall Street.-The General
Quotations.

{ CHICAGO, June 2-The action of the wheat
market to-day did not leave it very clear to
She trade or the public just what the clique.
said to be at work in the pit, is trying to ac-
Iomplish. The market opened firm ana
after lac advance went down 2l5c for July,
1Iac for August and 114c for December.
Some say long wheat was sold at profit,
others that the cGqueis simply putting prices
down to give more force and profit to their
scheme when the advance is ordered. The
conservative element kept aloof and trans
actions were not as heavy as the fluctuations
would indicate. Before the close there was
q slight reaction and last sales were from 54c
to Use lower than yesterdays close, Re
ceipts were 81 cars Corn was not excited
at any time, although there was fair
volume of trading. Prices were advanced
early, but closed below last nights prices.
the early strength was attributed to compare.
lively light receipts, 4O6 cars, small per-
centage of contract stuff. 1877 cars, and very
liberal shipments. June sold between 55l4@
555sc, and July between 555s@564c. Last
sales were A@8sc under yesterdays close.
Oats declined with wheat. with a fair trad
ing Last sales were at Lea 5sc decline from
yesterday. There was little disposition to
trade in provisions, and the business done
was mostly scalping. At the close pork was
2l2c lower, and short ribs 2l2@5c lower, but
lard was &c higher. p. m. prices-Wheat-
June, 64Ssc; July, 943sc; August, S4lsc;
September S3l2c. Corn-June, 554c; July.
5ssc; August 5534c; September. 557Sc
Oats-June $3.50: July, $3.50; August,
2Sssc; September, 27s4c Pork-June,
S13.95; July. S1407l2; August S14.17l2;
September, S14.25. Lard-June, $S.47l2;
July, SS.52l2; August, SS.57l9; September,
$500 Short Ribs-June, $3.50; July,
$3.50; August, S7.62l2; September, $40.
THE ROUTINE REPORT.
CHICAGO, June 2.-The action of the local
wheat market to-day did not leave it very
clear to the trade or the public just what the
clique, now al work in the pit, is trying to
accomplish. The market here opened firm,
ana after 14c advance went all to pieces.
New York was apparently bulllsh early be-
cause Of coverings by shorts III the old crop
options, while other futures were about Ice
lower when that exchange closed at noon.
The conservative element kept aloof largely
and the transactions were not as heavy as the
fluctuations would indicate. The bulls see
the situation, are encouraged by the light
primary receipts, while the bears are watch
ing the accumulation of wheat at the sea-
boad, and the light clearances. July sold at
S6l2c TO open, up TO S6S4c, ana then down
with hardly "a rally to S4l2c. Later the price
returned to SIC and again went to S41ac.
August sold early at SAGE and down to
S3S4c, reacting 10 S4Ssc. December, S5l2c,
up TO s6S4c, down to S5l2c, and returned 10
S6Ac. Gle sing prices in wheat for all flu
lures for the day and week were: June.
s4sse; July COS, s4Ssc; august august s4he;
Corn was not excited at any time, although
there was fair volume of trading in the pit.
Prices were advanced early, but closed be-
low last nights prices, with realizing sales
by the crowd, and the slump in wheat caused
prices TO go off about 34c from the top prices
the morning ,Iunp sold I :1:lIiGT
July, 555s@164c: August 5554@5GSsc, clos
ing at bottom prices for the day. Oats were
rather quiet and dull; June delivery weak
and lower; July steady early, and finally de-
clined, but other futures were not materially
changed. The public statement of the stocks
of hogs products in this city made larger
showing than was expected but are 5000,
600 pounds less than June l last year. Re
ceipts of hogs were light and prices sc
higher. There was little disposition on the
part of operators TO trade, and the small bust
ness that passed was chiefly of a scalping
nature. AT the close. pork was 212c lower
July pork sold at S14. 05@ IA 12l2, and closed
at S1407l2: July lard sold sparingly at
SS.47l2@S .52l2. and closed at So .52l2; July
short ribs sold at S7.60@7 .62l2 and closed at
S7.62l2. The packing since March is 765,-
900 hogs, against 10000 hogs the same
time last year.
THE QUOTATIONS..
The leading futures ranged as follows:
ing at S45sc: August. Soc closine, at S41sc;
September S45sc, closing at S3l2c; December
e6l2c, closing at so9sc. Corn-No. June
opened at 5534c closing at 5514c; July.
56Isc. closing at 555sc: August, 563sc closing
at 5534c; September, 56l4c. closing at 557sc
Oats-No. June. opened at 34l2c, closing
at 337Sc; July, 3414c closing at 337sc;
August, 29c, closing at 2S$4c; Septem-
Der, 2134c, closing at 2734c. Mess Pork
Per Dbl, June opened at $3.50. closing at
$685.; July. Sl41212, closing at S1407l
August, S14.1742, closing at S14.I7l2; Sep
tember, S14. %. closing at SLABS. Lard
at SS.47l2: July, SS.4712, closing at SS.52l2:
August, $3.50, closing at SS.57L2; September
S9.57l2, closing at s.. 60. Short Ribs-Per 100
lbs, June opened at $3.50, closing at $3.50;
August S7.26H.. closing at S7.62l2; Septem-
Der, $40, closing at $40. Cash quota
tons were as follows: Flour-Unchanged
and limited demand. Wheat-No. spring,
s3$46lS4Ssc; No 3 spring, 7607Sc; No. 9
red. S1l2c. Corn-No. 2, 5514c. Oats-No
2, SAC. Rve-No. ., Gle. Barley-No 2 90
@69Ac. Flax Seed-No. l, 81, 29@l so
Prime Timothy Seed-S2 Is. Mess Pork
Per bhl, S13.95@14 Lard-Per 100 lbs,
$50; dry sailed shoulders (boxed), S6@6. Is:
short clear sides (boxed), SS@S. O5 Whiskey
-Distillers' finished goods, per gal, S1.19
Receipts-Flour, IS, 900 bbls; wheat, 10000
bu; corn, 100000 bu; oats 100000 bu;
rye. 1900 bu: barley, 5000 bu. Shipments
Flour, 10000 bbls; wheat, l., 00o bu; corn,
55S, 900 bu; oats, $40, 900 bu: rye l 900 bu:
barley l ], 900 bu. On the produce exchange
to-day the butter market was dull: cream
cry, 14@16l2c; dairy, 12@15c. Eggs-Fair
demand and market firm.