St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-03-26
MONDAY IN THE MARKETS.
a Weak and Panicky Feeling in HAY
Wheat, and Big Slump.
STOCKS LOOK DOWNWARD.
The Depression Beng in Sympathy
With Burlington Weak
ness.
Special to the Globe.

market acted erratic and wicked enough
to-day to satisfy the greatest manip-
ulatorS and to terrOriZe tailerS and out
siders. The opening was at higher
prices. May started at S1.05. This was
the outside for the day. There was an
early slump. in which May went off to
S1.O2115. June from Csc to SIC, and July
from S915 to SS5sc. This was followed
by slow rally as the dispatches showed
a probability of larger decrease than
expected in the visible supply. May
returned to S1.044, and for an hour
held around S1.U3$l@1.04. In the mean
time the visible supply was posted,
showing a decrease of $4,000 bushels
for the week. About noon second break
in prices set i'll and May went off TO Sl.01$4
at l o'clock. There was considerable
interest in July early and Hutchinson
and Bryant were buyers. Hutchinson
later was seller Of May and helped to
break the market. The clique clearly
wished to ease the pressure in May,
and yet they are in position where
they do not care to sell heavily, as
they cannot again buy without the
market going up too sharply. Receipts
of wheat here were but % cars, with no
No. stuff. ClearanceS of both wheat
and flour from Atlantic ports were very
light. Reports from San Francisco
gave one cargo chartered for Chill and
three four Australia, with vessel room
taken for months ahead. The weakness
in wheat continued to the close. There
was little action in the corn
market to-day. Receipts were
293 cars, with ~ cars No. 2
grade and 81 ears billed through. Out
inspection was usually large-l3S, 600 bu
of No. sand shipments were 157, 900
bu. Clearances from Atlantic ports
were $4,000 blu. The visible supply in
creased for the week 100000 bu. Oats
were active and irregular. May sold
within &c range and closed a shade
lower than Saturday. Spectators did
deal of trading of May for June. Poole
and Sherman were the heaviest buyers.
The visible supply of oats decreased
last week $4,000 bu. There was more
than usual activity in hog products to-
day. Prices opened strong, and made
good advances ON free buying. Later,
long stuff came out and stop orders
helped carry the market down. Short
ribs sold for May at S6.33715. May lard
started at S7.15 and sold at S7.1214. Mess
pork sold 10c higher at the opening, adj
vanced Zoe further on early buying, and
then declined 40c straight, closing at the
bottom for the day. The range was
S12.35 to S12.75. Ribs sold from s625 to
S6.27@ at the close. Lard, S7.021a to
close for May.
THE DAYS TRADING.
CHICAGO, March 25.-A marked re-
action occurred in the wheat market to-
day and prices were considerably lower.
declined &c, and closed 33sc lower than
Saturday. June declined 1c, and closed
25sc lower. July, on the other hand,
opened shade higher. declined 219c,
and closed about &c lower than Satur-
day. The impression was that the large
''bull'' traders had realized freely on
the advance of last week, and that the
most anxious 'shorts' had covered.
Consequently, with less demand from
the 'short'' interest, and fair offerings
from the bull" interest, weak
and almost panicky feeling was
developed for May. The buying
for July may be influenced some by the
reports of continued dry weather in
oOlHc vi UllC M1ulcI Wl6db StCliUllS, anu
possibly by the reports that frosted
wheat is used for seed in the North
west, there being possibility that such
may not insure good crop. The de-
crease in the visible supply was $4,000
blu. Corn was rather quiet most of the
session, with the exception of short
period of moderate activity after the
opening. The feeling was steady and
prices did not vary materially from
Saturday. A feature was the free offer
ing of June, one operator selling in the
neighborhood OF 100000 blu. Receipts
were in excess of expectations. The
visible supply increased 100000 bu.
The market opened at about Satur-
days closing figures, fuctuated
within 75@4c range, closing a
shade lower than Saturday. In oats no
striking features were developed. The
decrease of 173 bu in the visible supply
had no effect on the market. Price
changes were confined to a range of
&c, due chiefly to the local decline in
wheat. There was more activity in hog
products to-day. Prices opened strong,
and made good advances on free buy
ing. Later, long stuff came out and
stop-orders helped carry the market
down. Short ribs sold. for May at
$685.. May lard started at S7.1715 and
sold at S7.1219. Mess pork sold 1Oc
higher at the opening, advanced 1Oc,
later declining 40c straight, closing at
the bottom for the day. The range was
$l2.35 to Sl2.75. Ribs sold at 1925 to
S6.27H at the close. Lard, Stops clos
ing for May.
PRICES FOR THE DAY.
The leading futures ranged as follows:
Wheat-No. 2, May, opened at S1.O5,
closing at S1.01; June, opened at 99c,
closing at $3.50; July, opened at S914c,
closing at S71ac; year, opened at Sic,
closing at soc. Corn-No. 3, April.
closed at 24slc; May, opened at 35szc,
closing at 3515c; June, opened at 35Zc,
closing at 3515c; July, opened at 36Ic,
cIosing at 361sc. Oats-No. 2, May.
opened at 252sc, closing at 252lc; June,
opened at 25ssc, closing at 2555e; July,
closed at 2514c. Mess Pork (per bbl)-
May, opened at S12.G5, closing at SI235;
June, opened at $12.6215, closing at
Sl2.40; July, opened at sl2.75, closing at
sl2.5O. Lard ,per 100 lbsl-May, opened
opened at S7.1719. closing at S705; July,
opened at S.2215, closing at $40: All
gust, opened at S7.2212, closing at 81. 12115.
Short Ribs (per 100 lbs)-May, opened at
s6.3719, closing at s6.271l; June,
opened at S6.421a, closing at $6.32I:
July, opened at $685., closing at
S6.40: August, closed at s6.45.
Cash quotations were as follows: Flour
Dull. Wheat-No. 2 spring, 9S%@
9SS4c; No. 8 spring, $50; No. red, 9S]l
@9Slc. Corn-No. 2, 345sc. Oats-No.
2, 4556c. Rye-N0. 2. 42sc. Barley
No. 2, nominal. Flax Seed-No. l, 81 81.
Timothy Sccd-Prime, Sl.3S. Mess
Pork-Per Dbl, S12.&0@12.35. Lard
Per 100 lbs, 81. Short Ribs-Sides Qoosel
S6.25@6.31. Shoulders - Dry sailed
boXed), S5.2595.50. Short Clear-Sides
(boXed), s6.40@G.45. Whisky-Distillers'
finished goods, per gal, s1.03. Receipts
Wheat. 1900 bu: corn, 10000 blu: