St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-03-15
HAS VERITABLE STRENGTH
In Spite of Ali Sorts of Rumors May
Wheat Still Advances.
AN AFRICAN IN THE FUEL.
st. Paul Fools the New York Bears
There Is a Pool Behind N---Prices
and Trading.
SnecIaI to the Globe.


CHICAGO. March 14.-Wheat would
not down to-day. The bears here and
at New York used every argument, eX-
cept heavy selling, to decline prices.
New York dispatches pointed out that
Chicago is still 2 to cents over sea-
board prices, instead of cents under.
The fact that New Zealand has 100000
bushels available for export to Eng
land, the statement that 5,000,0 900 bush
els of the 100000 bushels now atloat
from the Pacific coast will reach Euro
pean ports inside of four weeks, and the
further statement that new wheat from
India will seek British markets III six
weeks, were all well circulated. Then
there was the general bearish feeling to
contend with. Still, wheat held firm
and advanced on several good bulges
in this market. The market opened
steady, with an early bulge from 9714c
to 9715c for May. The first decline was
for 114c. to 9614c, the bottom for the
session. Hutchinson was buyer on
the break, and, it is said, was surprised
at the small amount he could get. The
rally was to 975sc. 1t was helped by
good buying by Jones-Kennett, the
rumor confirming the naval trouble at
Samoa, and dispatches reporting six
boatloads of wheat taken for export at
New York. The bulge was followed by
realizing sales, and May touched $3.50,
but again rallied to 973sc before p. m.
The fact that the cold wave did not ma
terialiZe. and yet prices grew firmer,
was commented on. June sold here be-
tween 923sc and 9315c, July S61sc and
size. The correction of the rumOr
about the Samoan trouble caused some
selling before the close. Receipts here
were A cars. Export clearances of
wheat and -four at Atlantic ports were
100000 bu. There was little feature to
the speculative corn market. The good
demand for other grain and the buying
by shorts holds the market fairly
steady. Receipts, 300 cars. Oats was
weak and lower under heavy selling.
Receipts, 50 cars. Speculative opera
tions in provisions were not important.
The local ''scalperS" oversold them
selves early in the session, and had to
buy the property back later. Their
trading was the cause of the early
break from S12.30 to $12.1719 for May
pork. and of the recovery and improve
ment to s12.35. Closing prices were
slightly lower all around than yester-
day.
THE DAYS TRADING.
CHICAGO, March 14.-There was less
doing in wheat to-day, and the market
ruled quiet during most of the session.
There were occasional SpurtS, but on
the whole, there was less disposition to
trade. The feeling developed was weak
most of the session, but closed rather
steadier. May opened trifie stronger.
but. under free offerings by large
local trader, declined, with slight fiuctn-
atiOnS, 14c, advanced subsequently
11lc, and closed &c lower than yester-
day. July opened steady, declined go
&c, recovered some,, and closed
about &c lower. The early de-
cline was attributed TO further
financial troubles in Paris, besides
which there was batch of bear news
telegraphed from New York about New
Zealand having 100000 bu of wheat
available for export: that India will,
within SIX weeks, have some of her
crop on European markets. AT the de-
cline better buying checked further
depreciation, and a rally followed, in
fluenced some by rumOrs of export buy
ing at the seaboard. Corn exhibited
moderate activity, and though trading
was mainly local, the volume reached
fair aggregate. The feeling was easier
and lower prices were established. The
market opened at about the closing
prices OF yesterday; was steady for Il
time, then sold Off 55@15c, reacted &c,
declined slightly and closed ]4@3sc
lower than yesterday. Oats We're active
but unsettled and prices consider
ably lower. Offerings were large, sew
eral heavy traders selling with increased
freedom. Prices declined 15(0}sc, and
for time considerable excitement pre-
vailed. At inside figures buyers took
hold freely, and reaction of &c fol
lowed on May, and the market closed
easy at &c below yesterdays last sales.
Trading in mess pork was quite brisk
early in the day. and the feeling was
weak. Prices declined 10@1215c. At
the decline some buying orders were re-
ceived, and prices rallied 15(0I71zc, but
near the close settled back again SO
719c. closing steady. Lard and short
ribs sympathized with pork.
PRICES FOR THE DAY.
The leading futures ranged as follows:
closing at 97c; June, 93115c, closing at
CSC; July, S75sc, closing at 975sc; year
SO14c. closing at Sic. Corn-No.2 May
opened at SEC, closing at 355Sc; June,
355sc, closing at 95%c; July, 36asc,
closing at 36Ac. Oats-No. 2 May
opened at 252sc, closing at 2514c; June.
251sc, closing at 25$Sc; July closed at
2619c. Mess Pork (per bbl)-May opened
atSl2.30, closing at s12.25; June, S12.25,
closing at $3.50; July, S12.3 71%S, closing
at S123715. Lard per 100 lbs)-May
opened atS7, closing at 81; June, S7.O71155,
closing S7.05; July, S7.0715. closing at
$40: August, 81. 1215, closing at s.. 12b.
Short Ribs (per 100 lbsl|May opened at
s6.32]a, closing ats6.25; June. $685., clos
ing at$6.30, July, $780, closing at $685.
Cash quotations were as follows: Flour
steady and unchanged. Wheat-No.
spring, 945lG95c: No. 3 spring, soc ;
No. red, 943l @95c. Corn-No. 2, S4$5sc.
Oats-No. 2, 25114c. Rye-No. 2, 43c.
BarleY-No. 2, nominal. Flax Seed
No. l, S1.56@1.6 go. Timothy Seed-Prime,
S1.36@1.37. Mess pork, per bbl. $4,000
1925. Lard, per 100 lbs. $685.. Short
ribs sides, Qoose), s6.2006.. 25. Shout
ders-Dry sailed, (boXedl, $685. (a5. so.
Sides - Short clear, (boXed), S6.6615@
CTS. Whisky - Distillers' finished
goods, per gal. s1.03. Sugar-Cutl loaf, I'M
changed. Receipts Flour, 11,OO0 bbls
wheat, $1,000 bu: corn. 100000 bu;
oats, $4,000 bn; rye. 5000 bu; barley,
$4,000 blu. Shipments - Flour, 5000
bbls; wheat, $4,000 bu: corn, $4,000 blu;
oats. $4,000 bu; rye, 1000 bu: barley,
21,000 bu. On the produce exchange
to-day the butter market was weak, but
not Quotably lower. Eggs, l3119(914c.