St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-11
TOOK BULLS BY The HORNS
Wheat Breaks Nearly Two Cents
The Bears Have
Killing.
No Return in Strength Before the Close,
and Heavy Holders Are
Glum.
Financial Operations Of the Money
Kings---The General Quo
tati0ns.

CHICAGO, July 1O-Wheat broke nearly two
cents to-day in short order. The day started
with prices at the very top points reached
before the close last night. 1t was soon eVl-
dent that the opening was too hlgh, Dut
something prevented break early. That
something was the early cables, which gave
spot wheat a penny higher at Liverpool,
with futures strong and advancing. Cash
wheat was also quoted several pence higher
ct London, where the trade was reported
nervous over the reduction of stocks and
supplies. There was nothing else on the
bull side but cables, and when at IL O'Clock
later cables came "easier' there was
a sudden weakening here on an at
tempt to realize. Half dozen big
operators started the selling. They
were followed by the tailers. After nearly
lc break Hutchinson turned in TO sell. ana
the price yielded 12c further. There was
lull in the excitement, and the market re-
covered a fraction about neon, but second
deluge of selling orders came little later,
and before l o'clock September was off Use
from the top and December 34c. The ac-
ton of the market was: July, soc, to S1l2c,
TO 85c, to S3l2c, to Sic, to S2l2c; September,
8O7sc,t to S1lsc, to 7934c, to soc, to 79Bc; De-
cember, S212c to S25sc, to S1ssc. to o19sc, to
S07sc a matter of gossip was the turning OF
the agents of foreign houses to the
bull side on the strength of the
cables They got in at the eleventh hour.
Receipts of wheat here, % cars, with but
Q cars No. 2 grade. st. Louis received 81
600 bushels. Export clearances light OF
wheat and -four There was no return of
strength in wheat before the close. Last
prices were the very lowest of the day. The
l. f.o hact in II11N n
in September and 7sc in December. In spite
of the weakness in wheat. and the fact that
receipts ran SO cars over the estimates, the
corn market was strong. The good demand
for the cash article was the basis for the
strength. Receipts were 4S4 cars corn and
1873 cars oats. Withdrawals from store were
1864 bushels winter wheat, 1916 bushels
spring. 1O8,437 bushels corn and
163,574 bushels oats. Oats were quiet
and unchanged at the close. The
excitement III wheat was followed by some
heavy selling and raiding in provisions,
principally mess pork. First prices were
about steady all around and trading light.
There were 1900 hogs at the yards, and
prices there were 5@1Oc lower. Hogs at six
points were 41,00O, against $4,000 year
ago. After the call Robert Warren Kirk
wood, Cudahy and others sold product freely.
Baldwin bought. When prices got started
downward Cudahy sold still more followed
by others. After break of zoe in pork stop
orders carried the price off 10c further.
There was, however, a partial recovery be-
fore the close. There was but little decline
In lard and short ribs.
The leading futures ranged as follows:
Wheat-NO. august, slice, closing at 1850;
September, S07Bc closing at 7915c; De-
cember, S2I9c closing at 8054c; July, 95c,
closing at $3.50. Corn-No. Q August, $3.50,
closing at 357sc; September, 36S4c, closing
at 361Sc; October. 36Ac, closing at 36l2c.
Oats-No. 2 August, 22lsc closing at 22c:
September, 22Ac, closing at 221Bc. Mess
Pork (per bbl-Augusr $11.45, closing at
$11.32l2c; September, $ll.55, closing at
$2 o I"26 sT iSo b sIoslng at
$6,s2l9, closing at at $3.50: September
SG.42l2 closing at $50. Short Ribs
(per 100 lbs) = August So 92l2, closing
$2; SePtem6 BE- 90 $5s5 closing 81 Coz, at
Cash quotations were as follows: Flour I'M
changed Wheat-No. . spring, 634@94a4c;
No. 3 spring, 76 to S3c; No. 2 red, s3%@
S4%c Corn-No. 2, 3GBc. OatS~No. 2,
22l2c. Rye-No; .; 43. Barley-No, 2,
timothy seed S1.45. Mess pork, per bbl,
$11. 37l2@1l 80. Lard, per 100 lbs. S6.27l2;
short ribs, sides Qoosel, 1913. Dry sated
shoulders boxed, S.. 25@5.37I2. Short
clear sides (boxeD, $6.12q2@6.25. Whisky
-Distllers' finished goods, per gal, Sl02.
Sugars unchanged. Receipts-Flour, r.
900 bbls; wheat, 1000 bu corn, 464, 900
bu; oats, 12l.u00 bu; rye, 1900 bu; barley,
1000 bu. Shipments-Flour $4,000 bbls;
wheat 900 bu; corn, 1890 bu; oats,
III, 900 bu; rye, 1000 bu. On the produce
exchange to-day the butter market was
quiet; fancy creamery, 15l2@15S4c; fine, 14I2
@15c; finest diaries, l112@I212c; fine, log
12c. Eggs dull at 1112Ml2c