St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-08-03
STAMPEDE OF BIG BULLS.
Fine Weather and Good Harvests Re-
sponsible for the Rush to
Unload.
The Wheat Earket Closes Dull and
at Bottom Fig
ureS.
Financial Operations Of the Money
Kings---The General Quo
tations.

Chicago, Aug. 2-Wheat started as mild
and slightly weak wheat market developed
before the close into an excited and Sharply
declining market, with talk of good con-
sumptive demand. With British cables firm
for spot wheat and futures, with fair foreign
inqniIy here for cash wheat the market
early Bithstood the local bearish feeling
fairly well. When later in the day receipts
for Saturday were estimated at $50 cars On
top of 800 cars today; when the dispatches
from all directions told Of fine weather ana
good harvests; when Baltimore wired that
exporters were sellers, and the eX-
IRENE weakness at Duluth was made known,
there was mild stampede which carried
prices for all futures about lie under last
night. The taking of IA boatloads-oYer
100000 bu-of cash wheat in this marEetfor
Eastern shipment seemed to be lost sight of
In the selling craze So also was the tact that
Liverpool closing cables were 14@a4d dearer
on spot wheat. The action IN prices was:
August 777sc to 77lsc to 775sc to 76a4c;
September 77l2c to 77lsc to 77ssc to 77l2c
to 76Ssc; December, 79c to 79s4c to 79c to
7s4c TO 1850 to 7Slsc at 1 o'clock. Wheat
taken from store here, $4,000 blu. Clear
ances at New York, $4,000 bu. When the
decline was checked the pit became dull At
the close there was no rally of any Importance
from bottom figures. Talk OF q squeeze in
cash corn at Liverpool, together with good
cash demand here, made the market firm Tor
B little while at the beginning of business.
The large local receipts, however, had their
effect and, the buyers of yesterday began TO
sell out. The result was decline of lA@9sc
from yesterdays closing figures. Receipts
were $50 cars. Oats were active, weak and
lower on free selling. Receipts, 242 cars.
The stocks of provisions in Chicago were
published to-day. They were not far from
expectations. The increase of about $780,
900 pounds of short ribs during July was
the one item which caused weakness. There
wos free selling of ribs all day, and the mar
ket closed 1901 2I9c lower Pork was strong
ana slightly higher early, but prices eased
off and closed 10Q15c lower Lard was
fairly steady.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 9 September opened at 77Ac,
closing at 76a4c; December. zoe, closing at
76ssc; year, T67sc, closing at 76Ac. Corn
No. September opened at 36l9c. closing
at 36c: October 3668c, closing at 36lBc; De-
cember, 36c, closing at 35s4c. Oats-No 2,
September opened at 21ssc, closing at 2lAe;
closing at 24ls. Mess Pork (per bbQ-Sep-
tembeT opened at Sl0.s2l2, closing at
S1067I2; October $1065 closing at Slo.55;
year, $3.50. closing at $3.50. Lard .(per
loo lbs)-september opened at 1928,
closing at So. 32l2; October, So. 80, closing at
S6.22l2: year. S6.02l2, closing at S.. 95l2:
Short Ribs (per 100 lbs)-September opened
at S5.57l2, closing at S5;47R; October,
65.5.I2 closing at S5.47l2; Jan
nary opened at S495, closing at 81 92l3.
Cash quotations were as follows: Flour
quiet and unchanged. Wheat-No. 2spring,
76s4c; No 3 spring. nominal; No. 2 red,
76s4c. Corn-No. Q, 3Gl2c. Oats-No. 2, 21ssc.
Rye-No. g. 43c. Barley-No. 2 nominal
Flax Seed-No. l. Sl.33. Timothy Seed
Prime, $1.49. Mess pork, per bbl, Sl0,G5@
1910. Lard, per 100 lbs, $620@6. 22l2.
Short ribs sides Qoose), S5.45@5.5O. Dry
sailed shoulders (boxedQ, S3@5. l2l2 Short
clear sides boxed. S5.75@5. 87l2. Whisky
-Distillers' finished goods, per gal, S1.02.
sugar-Cut loaf unchanged. Receipts
Flour, 5000 bbls; wheat 1856, 900 bu: corn,
239,OO0 blu; oats, $4,000 Blu; rye, 5000
bu; barley, 1000 Blu. Shipments-Flour
100000 bbls; wheat $4,000 bu; corn,
$4,000 bu; oats, 10000 bu rye, 1000 bu;
barley, 1000 bu. On the produce exchange
Today the butter market was fairly active
and unchanged Eggs quiet at lie.