St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-13
THE COMMERCIAL WORLD.
On the Chicago Board Of Trade the
Grain Markets We're Almost
Featureless Yesterday.
What Interest There Was Seemed to
Center in the Dealings in
Provisions.
Transactions in the Financial Circles
Of Wall Street.-The General
Quotations.
Special TO the Globe.

Special 10 the Globe.
CHICAGO, Jan. 12.-Provisions opened off
on large receipts of hogs at the yards, 30. 600.
Pork, which closed yesterday at Slo.21l2,
pressed for sale at Sl5l5 at the opening,
advanced DC, broke to SIS and then re-
bounded to SIS. 10, all in space of forty
minutes Lard and ribs opened 5@7i2c off,
but went no lower. These lines were rela-
lively stronger than pork and displayed more
elasticity. The recovery noted was due IN
large degree TO the industrious circulation of
the report that Armour was buyer Trad
ing in provisions early was lively. The SD
point marks decline of 81 from the top.
Grain cables were tirmer, and an improved
condition of the cash market is noted every
where The weakness il pork was communi-
Gated 10 the grain markets and they did not
fulfill the early promises of all advance. For
an nour May wheat ranged S3&6S4c, and
MAY corn 53654c. Business was small and
dullness was the ruling feature. The local
crowd of heavyweight bears sold consider
able quantity of pork at the bottom. The
shorts took the stuff. and as less
property than was expected came out on the
break the market firmed up in manner
quite surprising to those who had been count
ing on the market going all to pieces if the
price could be jammed down to So. Never
theleSS the market did not act strong at the
recovery for the reason that the little bulge
was due chiefly TO the demands from shorts
which, when satisfied, left no support. One
of the bears strong arguments is based on
the fact that high prices have cut down the
shipping business and led 10 the accumula-
ton of visible stocks at centers of coneentra-
ton. Some seem 10 think that this is more
of bull than Il bear argument, as stocks at
10 no
Tins the answer is made that there will be
enough to so around. And this reply is un-
answerable. The wheat market was narrow
all day. 1t was bulled early on the statement
that the Price Current was going
10 publish estimates TO prove
that winter wheat was in a worse condition
and smaller acreage than the govern
ment report made it. This was denied by
the editor of that pa per, and it ceased to be
factor. Indeed the market was sadly def
cient in factors of any sort, and trade was
light throughout the day. Receipts of wheat
and corn are small, ana Atlantic port clear
ances pro We that considerable wheat is going
abroad. Northwestern millers report that
they are sold away ahead at good prices and
the interior demand is sufficiently active to
keep the cash markets firm and steady. Corn
and oats were dull and rather weak, but
otherwise featureless. At the afternoon ses
sion there was the liveliest speculation of
the day and prices were advanced. Pork ad-
Yanced l5c, wheat Ssc and corn and oats 1lc.
The 2:30 p. m. prices were: Wheat-Jan u
airy, 77I2c; February. Use; March, 7S54c;
May S4ssc. Corn-January, 49s4c: Febru-
AIRY, 4Sc; March, 49Ac; May, 54Ac. Oats,
34Ac. Pork, Sl4S5; February, S1487la:
May, $3.50. Lard-January and February,
S742I2; March, S7.52l2; May, $40. Short
Ribs-January and February, S7.75; March,
s7s5; May, ss@s02l2.
THE ROUTINE REPORT.
CHICAGO, Jan. 1.-THE grain markets
were almost featureless to-day, interest being
chiefly centered i'll the provision market.
Both corn and wheat opened trifie firmer.
May wheat started at SAC, and during the
first hour ranged between S37s@S4lsc, with
trading very limited. Little of interest de-
veloped in wheat, and the scalperS had the
field pretty much 10 themselves throughout
the day. On the afternoon session the mar
ket improved somewhat and closed at S4$Sc
for May. May corn opened at 537sc and kept
between that figure and 54c until just before
the close, when it reached the highest figure
of the day, May closing at 54Ac. Oats sold
within lac range, May closing at 3414c. Pro-
visions opened very weak. May pork
started in 12l2c lower at Sl5.15. The receipts
of hogs were larger than anticipated
and prices in consequence were from LOO
zoe lower. The pork pit was well filled at
the start and the pressure to sell was heavy.
In the first fifteen minutes trading i'll May
pork broke to SIS, and during the next hour
was rather nervous between SIS and SIS. 10.
A great deal of pork was marketed on coun-
try stop orders as well us considerable
amounts held by local longs. Lard opened
7I2c off at $3.50 for May, but instead of de-
Ginning it firmed up to S1.65. May ribs
started in 10c lower at S7.S1I2c, advanced to
$7.92l2, and broke to S7.S5. The provision
market recovered from the effect of the
early raids and was back again to SIS. ID be-
fore the close of the morning session. While
there were large amounts of stuff for sale on
the way down, there was enough buying by
the short interest to cause the recovery to
opening prices. The market for all the
products held strong during the afternoon
session.and the close was considerably above
first prices. May pork closed at S15.3 80, lard
ats $40 and short ribS at SS6lS. O2l2.
THE QUOTATIONS.,
The leading futures ranged as follows:
Wheat-No. ., January. 77lSc, closing at
77l2c; February, .774sc, closing, at 7sc;
closing at S4ssc. Corn-No. 2, January,
4sAc, closing at 4Ss4c; February, 1850,
closing at 49c; May, 537se, closing at
34I2c. Mess Pork, per bbl-January S14. 72l2,
5ng 81 81 z; May, G!@" Closing a!G at
Lard per e5,s lC Obs, lbsJss an
at S7.52l2; May, $3.50, closing at $40
Short Ribs, per 100 lbs-January, $7.65;
CLOSING at SII4. FEBRUARY, SI.OZl2. closing
at S775; March. $40, closing at
S7.95; May, S7.S7l2, closing at So
Cash quotations were as follows: Flour
quiet prices steady and unchanged; No.
spring wheat 771s077l2c; No. 3 spring
wheat, 6sAc; No. 2 red, S2i4c; No corn,
Assoc; No. ? oats, 31l2c; No rye, &c; No.
barley. 73@ S3c; No. l, flax seed, 81. 44l9
GLIB: prime timothy seed, So AZ; mess
pork. per Dbl, S14. 7O@14.75; lard. per 100
lbs, $40: short ribs sides Qoose), 81. 20.
az: short clear sides (boxed), So. zoos. Is;
whisky, distillers' finished goods per gal,
s1.10; sugars, cut loaf 736@SAc; granu-
lated, Tl2c; standard "A," z. Receipts
Flour, $4,000 bbls; wheat. %, 900 blu; corn,
104, ZOO bu; oats $1,000 bu; rye, 1000
bu; barley. 81 900 bu. Shipments-Flour,
"a, 600 bbls; wheat, "a, 600 blu; corn, 49,
600 bu; oats. 10000 bu; rye, 5000 bu;
barley, 1000 blu. On the produce ex-
change to-day the butter market was prac-