St. Paul daily globe., 1889-05-23
FINANCE AND COMMERCE.
kfter a Slight Bulge Wheat Prices Rule
Lower.
GREAT HARVEST PROMISED.
4 Sironger Tone in the Stock Market
---The Coalers Again Prom
inent.

ces of importaEce TO affect the wheat marEet
here or elsewhere to-day. The market was
marrow, and, after slight bulge early prices
ruled lower. The trade is still in doubt be-
tween extremely low prices on one side ana
extremely good crop prospects ON the other.
The reports of some touches of frost in the
Northwest caused little buying at the start
and July moved up l4c to 76l2c This was
more than balanced by reports brought i'll
by agents of few large houses to the effect
that fields are simply perfect and that noth-
ing but calamity of some kind will prevent
4 great wheat harvest. On this and on the bear
sentiment already abundant. there was free
selling of both and short wheat after the first
hour. Hutchinsons influence. as far as trace
able, was on the selling side, and other heavy
SPECTATORS were free sellers. Lindblom and
Jones -Aennett bought on the break and were
followed by crowd of scalperS The board
of trade cable gave an increase of $4,000
bushels on ocean passage. Liverpool cables
were as on Yesterday. weak, and prices tend
ing lower for spot and futures. At New York
the bears talked 75c for July wheat and the
price went off ssc the first hour to SlAe.
Exporters were said TO be selling December.
New York cleared but 16 00U bushels wheat
and 10000 barrels flour. The point was
made that all the declines do not help the
export business. The July wheat touched
T6Lc once, after selling at Io1sc. and that
was on the reported taking of fifteen BOAT
loads for export at New York. There was
good trade in corn, with prices a trife higher
early and weakness and a marked decline
later. and closing prices the lowest of the
day. Receipts were 9l4 cars. Oats were
dull and without material change in prices.
Receipts were 24S cars. The provision mar
ket to-day was remarkable for its weakness
from the opening TO the closing. Receipts
of hogs were $4,000 here and liberal else
where. and the estimate was for % 900 here
tomorrow. The market for products on
change was at first Indifferent, with prices
2i2@5c lower for ribs and lard and 1Oc
lower for mess pork. Later in the day there
was almost Il slump all around Oh the free
offerings and little or no support from any
quarter Ribs went off sharply and closed
17l2c lower. Lard lost 10c. July pork sold
from S1167 to S11.55 at the close. At the
bottom figure Jones Kennett alone stopped
the decline by taking all offerings
ROUTINE REPORT.
CHICAGO May 22-Trade in wheat was
slow. Fluctuations were slight, but within
lower range, prices declining Ac below the
lowest point reached yesterday, recovered
ssc and closed Ac lower than yesterday.
Shorts bought some. which partially held
the market in check. There seems to be but
lille indueement to trade for the present.
Prices are TOO low to be attractive for heavy
''ShOrt selling: at the same time, operators
say they see nothing especially to buy on and
are awaiting new Developments Market ad-
vices were untavorahle to holders. Only
moderate business was transacted i'll corn.
prices showing but little change being
limited to 1ac change. The feeling developed
was easier. The market opened at about
yesterdays closing, and was firm for a time,
but soon became easier selling off lac: then
became quite active, closing 1s@Ac lower
than Yesterday. Oats were in fair demand,
and a frmer feeling prevailed. Trading
centered chiefly in June and July, one large
operator buying the former and selling the
latter, and at one time June commanded
slight premium over July, but later an easier
tone developed and prices receded 1s@Ac.
An active speculative trade was reported in
pork, and the feeling was easy during the
greater portion of the day. Prices were
irregular within small range. Opening
sales were made at about yesterday closing
figures, but weak feeling was manifested
ana prices declined 7I2@10c. Later the
market showed little more strength, with
fair buying on local account, and prices raj
easy and prices receded l2ls@15c and
closed quiet fair business was transacted
i'll the lard market and the feeling was easy.
Prices ruled 7la@1Oc lower, and the market
unsettled FEELING prevailed in the market for
short ribs and trading was fairly active.
Prices declined 12lsGD15c, and the market
closed quiet at inside figures.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. June opened at soc, closing at
soc: July, 76Ac, closing at 76c: August,
73Ssc, closing at 727sc; year. 72s4c. closing at
1850. Corn-No. June opened at 33Ac,
closing at 33Isc; July, 34lsc, closing at
33s4c; August 34ssc. closing at 3412c. Oats
No. June opened at 22s4, closing at 22ssc;
July, 22lsc, closing at 22s4c; September,
22a4c closing at 225sc. Mess Pork (per bbD
June opened at ST. .52l2. closing at 81 .45:
July, .Si1;67l2; closing at S11;55;, Au-
100 lbs)-June opened at Sc. 72la. closing at
S6.67l2; July, $780, closing at $6.72ls;
August $3.50, closing at S6.77l2c. Short
Ribs (per 100 lbs)-June opened at S5.72l2.
closing at S5.65; July, 50. 80. closing at
Cash quotations were as follows: Flour
steady, unchanged Wheat-No spring,
see; No. 3, 7s@sOc; No. 2 red, S2I2@te3c
Corn-No. 2. 359sc. Oats-No. 2. 2212c.
Rye-No; 2, zoe. Prime timothy seed. S1.s5.
Per 100 lbs. $6.72M@6.7O Short ribs, sides
noosel. S5.72l2 Dry salted shoulders (boxed),
81. l2l2Gl5.25. Short clear sides (boXed),
S612la@6.25. Whisky-Distillers' finished
goods, per gal, Sl.05. Sugars-Cut loaf.
sl2c Receipts-Fleur, 1900 bbls; wheat,
10000 bu; corn, $4,000 bu; oats. $50, 600
bu: rye 5000 Du; barley, 1000 bu. Ship
ments-Flour, $4,000 bbls; wheat, 43,GGO
bu; corn, 333 900 bu; oats, POI 900 bu; rye,
1,GO0 bu; barley, $4,000 bu. On the prod
firm; fancy creamery, .15@l6ci choice to
fine, l2I2@1Ic; fancy dairies, 12@14c; fair
TO good S@1Oc. Eggs firm at 12c.
r. M. NEWPORT & SON,
Investment Bankers,