St. Paul daily globe., 1888-03-03

The COMMERCIAL RECORD.
Yesterdays Transactions on the Chi
cauo Board Of Trade We're OF Fair
Volume,
And Both Grain and Provisions Re-
ceived a Good Share of
Patronage.
Quotations of Stocks and Bonds in New
York and at Other
Points.


EptcldI 20 tlic OIObC.
CHICAGO. March 2.-There was an eXc!teu
opening to corn this morning. May closed
YESTERDAY at 517s@52c. 1t opened to-day at
I52Isc. and with very moderate offerings
alarmed shorts competed sharply Tor What
Uas offered and run the price up to o3c
Within an hour from the tap OF the Dell.
Commission houses, too, were active bidders,
and The scalpers from all parts OF the floor
focked into The corn pit to take part i'll what
they realized was going TO be lively deal,
with local stocks of No. 2 down to about
I1OO 600 bushels, and very little to be had
in the country. 1t is no wonder that the
shorts, who have contracts open for the de-
livery of 20. .000, 900 to 25,000,00O bushels
in May, are feeling nervous. or the LIS cars
received to-day only two were contract
grade Jones' McCormacK& d hennett, Logan
4 Co. and nearly every large house on the
floor bought largely. On the bulge hutchlh-
son sold a quantity Wheat felt the stimulus
of the boom in the neighborirg pit and ad-
yanced the first hour to S0S4c, gain OF SSc
on Yesterdays close. Gables are better ana
trade is on the increase. The provisions
statement published this morning makes
local stocks of contract pork 14S. 29S barrels,
contract lard 81, ,433 tierces and short
ribs IS, S,33a,03S pounds. There was
some disappointment felt in the
trade over the decrease in the stocks OF ela
pork. which are now reduced to minimum.
A special c fiort has been made to force the
old pork into consumption OF late, ana IL
seems to have succeeded. The total STOCKS
of provisions loom up into big figures, pow
ever They are larger than they were q year
ago. and there was enough to go rouno last
year with ample reserves at the beginning
of the winter packing season. Hutchinson
was liberal seller of ribs on the call, HIS
offerings were for June, and hlrkWood q
I5ovd. Durham Il Co., were good buyers,
81. .A2l2 be ing the ruling price. Hutchinson
also sold lard. but not largely. During the
Iong session a moderate amount OF business
was done. The tone of the market was quiet
throughout
THE HURRAH SPIRIT
departed from corn after the first couple OF
hours. but the market remained firm at A0
Sac reaction from the top, and rafting
general trade was done in that cereal. In
tercst continues to center i'll the corn deal
more than anything else. The price OF corn
has advanced about Sc this week
and the bulls are hoping for another boom.
Pretty general realizing on the bulge was
Feature of to-day's operations, and as the
country is not in OH so large scale as 1t was
before, there are many who think that the
boom has spent its force. Corn is full OF
surprises and very apt TO get uncontrollable
on the slightest provocation. lt forges
ahead and plungcs about i'll manner mat
perplexes and dismays the prophets ana
wiseacres. The bulge this time Is
on the inspection, light receipts, ana
the assumption that country stocks are low,
Toward the close day the market developed
q tendency to weakness, and trading was on
declining scale. A glance ut the weather
map explains the strength that is being dis
payed nwheat. A cold wave is approach
ing and it seems TO have q southern sweep
that portends trouble for winter wheat.
Some of the agricHlturists of the pit hold
that frequent frosts are good for winter
wheat, ftrring up the ground and mannr-
in the roots and instances are known OF sell
ing Oh that beautiful theory. The crop
Ekillers are making the most of their oppor-
tunity however, and while they are not sue
ceeding in working up terrific bull move
.ment on the strength of that dismal fore
casts they are exciting alarm among OBJ
servers. and very close watch is being kept
on the weather conditions by the people
who do most of their thinking with their
brains, instead of their jawbones and lungs.
The speculative market was fairly active
all day New York pulled back. but the tone
of advices from other points was generally
bullish. At the afternoon session there was
lgood all-round trading. Provisions weakened
and declined 2l205c Wheat was shade
better. Corn steady, and oats unchanged.