St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-03-09
A zIG-zAG DAY IN WHEAT
Several Influences Alternate in Making
May Swing Both Ways
BUT WEAKNESS is THE RULE.
The Dallest Day of the Year in the
New York Stock Market
Dun'S Review.

Influences at work in wheat to-day, but
they were conflicting and the result
was, a zig-zag market, with natural
weakness the gen 4ral character. The
big break in prices Oh the Pacific coast
late yesterday, owing to the outlook for
G0,000,o00 bu in California. the present
crop, the Shaky financial condition in
Paris which threatens to make holders
of wheat sell out, were among the bear
ish features. The principal bull feat
Hre was the fear of the clique. There
was talk of the Samoan trouble and
bther outside matters, but wheat
strength in the market was from the
buying Of shorts, and the open support
of the manipulators below a certain
figure. To add to the general weak
mess, Ream q Cudahy were free
sellers. Hutchinson took hand On
the buying side and indications
pointed to an understanding between
Hutchinson and the Falrbauk interests.
There was special weakness in the de-
gerred futures Oh account of bright
crop prospects. Receipts of wheat here
were - ears. Export clearances of
wheat and -four from Atlantic ports
about $1,000 bushels. The action in
May was as follows: opened at Sl.031z,
sold at $l.02$4 to S1.03A to $1.0135 to
sI.025@s and to the closing price. June
sold between 97$lc and 964c; July
SSi+c. S9$fc. Receipts corn were 1S7
ears. Grading showed Is cars No. 2
and 33 cars No. 4, with so cars shipped
through. Shipments were l6S,000
bushels. Export clearances $4,000
bushels. The best strength of the day
was shown at the opening with May at
36i4 cents. The close was 4 to g lower
than yesterday. The tactics of yester-
day were repeated in oats this
morning. The talk was that the Mil
Waukec clique was still selling. May
went OFF easy to 2615c, at which point
there appeared to be hundreds of buy
erS. Later the price worked down to
2Gl4c and closed at 26ssc. Receipts,
IS cars. The crowd in oats was at one
time larger than wheat. The provision
market was less active than on Thurs
day. Opening prices were lower for
RIBS and pork. The action in pork was
very light. The price for May ranged
at $500, to $685., closing at $685.. Short
ribs sold at $500 and S6.321l. closing at
the best price and nc above last night.
Mess pork sold at sll.S5, TO S11.S715, to
Sll.S2i ;. 10 Sl1.9715, to S11.S2115, to Sl2.05
at The close.
TIE RECORD OF THE DAY.
CHICAGO, March S.-Wheat ruled
weaker and the feeling was nervous.
Trade was rather restricted and the
market ruled quiet during most of the
session. The opening was steady at
about Yesterdays closing figures, ruled
weak. ana after numerous slight fiuctu-
atOns, became heavy and declined 15ac
for May delivery, advanced 1c, and
closed about 1c lower than the closing
yesterday. July declined l15c and
closed l sc lower, and June 156c lower.
There was generally more disposition
TO sell, though at the break in prices,
E2lc large local trader bought quite
freely for May delivery, which
caused somewhat of reaction. For
Sc long Oh. new crop futures there was
Enthusiastically more disposition 10 sell.
influenced no doubt by the favorable
weather for growing crops. Reports of
rain in California, and the break in the
price of wheat there, also had a ten
dency TO affect the market here, espe-
ciailT for deferred futures. Corn was
less active ana easier, ewing TO large
offerings by prominent operators. The
market opened at about the closing yes
Ferday, was steady for a time, then be-
cane weaker, deciing &c, reacted 1&l0
I14c and closed at 4@35c lower than
yesterday. Oats were active and
weak. There were no outside iniiu-
ences. the market being controlled
entirely by local traders. The open
htS 5l.x- Sc
but decline of &c was soon recorded.
Buying became quite free at inside fig
ures. and rally of &c followed, but
The market closed easy at 114Q935c below
yesterdays last sale. A Moderately
active trade was reported in mess pork.
and the feeling was somewhat unset
He'd. Prices irregular. The market
opened 5t,9l0c lower, but the demand
was sufficient on local and outside ac-
count 10 rally prices 10@121Zc. Later
an easier feeling was developed, and
prices recedcd l214Q1l5c. but rallied
again ;3G(c:31c. and market closed steady.
Lard was easier during most OF the day.
Prices ruled 21zQ05c early, but rallied
again &c. closing steady at outside fig
urcS. Short ribs were stronger and $40
g. c higher.
THE DAYS QUOTATIONS..
The leading futures ranged as follows:
Wheat-No. ? March, closing at 99slc:
May, Si.03lz, closing at Sf.0215: June,
,g1#4c, closing at 9614c; July, S954c. CLOS
ing az SS5c. Corn-No. 2 March, opened
at 2foe, closing at 344slc: May. sec,
rlosihg at 35$4c; June, 352sc, closing at
:j5Hsc. Oato-No. . March opened at
PIC. closing at 241sc; May, 265sc,
Al 26i4c. Mess Pork (per bbi}-March,
Opcaed at 11.85, closing At S11S5 May,
SlLS2l5, closing al sl2.05: June. $1l.97M,
closing at S12.l21%s. Lard (per 100 lbsl-.
March opened at 1922, closing al s6.S7;
MAY. St.a5, closing at $3.50: June, st. S21I,
closing AZ 81. Short Ribs (per loo lbsl-
March opened at S6.25, closing at Sj25;
May opened at $500, closing at S6.3215;
june, $3.50, closing at $3.50. Cash quota
lions We're as follows: Flour quiet and
unchanged. Wheat-No. 9 spring,
80 s@gJ$lc. Corn--No. 2, size. Oats
No. >. 725c. Rye-No. 3. 42c Barley
Nominal. Flax Seed-No. l, Sl.4D.
Timothy Sced-Prime. sl3S. Mess
Dork. per bb!, Sli-90@11.g5. Lard, per
At; los, $ti.90@6.92]5 Short ribs sides
llcGsc), S6.15Gl6.25. Dry sailed shoulders
JbOyedl, $5.35Gc95.371l (. Short clear sides
lboNed), S6.5G(0G624. Whisky
crs' finished goods, per gal, $l.G3. Sugar
i~tul loaI uncHangcu. RecClDtS-El0aT,
9,CU0 bbls: wheat, 10000 bu; corn, 12O,-
200 bu; oats, 5000 bu; rye, 5000 tu I:
barley. 1900 bu. hipments-Flour,
30,00o bbls: wheat, ll.000 bu: corn, 16S.-
200 BIZ: outs, 5000 bu; rye, 1000 blu;
BARLEY, u 900 bu. On the produce eX-
Ehange to-day the butter market was
steady and unchanged. Eggs easy AT
IL sGc &c.
r. Nj. NEWPORT & SON,
E....o.L..-r.k