St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-04-04
MYSTERY IN THE MARKETS
a Break in May Wheat Which Cannot
Be Accounted For.
NO SYMPATHY FROM DULUTH
In Stocks Lower Tendency Is EXhib-
tied ALI Around---Money and
Live Stock.

ShlSAOO. Liz pm HC
pit was the center of interest on change
to-day. The opening was weak,and the
event of the morning was the going to
pieces in May holdings. Bloom was
the victim. The crowd tried to force
his wheat out Monday when wheat was
put down to 81. When that future
opened sc off this morning, at 994c,
no more cunning was needed. Bloom
was free seller through half a dozen
brokers. Lester sold also, but presum-
ably to help bring out the other hold
ings. The price went off to 951sc in
quick order, and rallied to 974c, after
ward selling at 9614c, with good buying
before 1 p. m, closing at $3.50.
The crowd were puzzled to know
what the clique were doing.
Some claimed that they were
as sick of May as Bloom was, and that
they got out also. Others thought that
it was simply shake-out of Bloom and
other tailerS, and that the future will
yet rally in clique hands. There was
pretty free selling from many quarters,
and block of 100000 sold at one time.
June closed 954c Monday, and at noon
to-day sold at 924,c. The first break
was to 92112c. with a rally to 93c. July was
the leading future for investors. The
opening was but sc off, at S615c, the
total decline from the close on Monday
was 1c, to S55sc, from which point there
was rally to $500, and later the fut-
ure sold at S615c. The leading bear
influence was, perhaps, the recent rains
Northwest and Southwest, following a
favorable seeding period.
Cables were fairly good, and clear
ances of wheat and flour from At
lantic ports for two days aggregated
$4,000 bu. There was some strength
shown, particularly in July, just before
the close. That future rallied from SEC
to S65sc, and closed at S62lc. Six
boat loads were taken for eX-
port at New York. Receipts here were
40 cars. The provision market was
fairly active to-day, with weakness the
feature of the market. The principal
trading and the most weakness was in
mess pork. Receipts of hogs were first
estimated at $1,000, and later at Il, 500.
Receipts at six packing points were
41,7O0, against $4,000 one year ago.
Prices at the stock yards started tribe
higher, but there was weakness later.
The stock of pork here, 12l, 200 barrels,
was larger than reported. May pork
opened 711ac lower, at S12.40; went off to
S12.25; rallied to S12.35, to s12.2211SS, to
to Sl2S5, to 1920, to S12.25 at the close,
OF loss of 2219c for the day. May ribs
sold 219c lower, at $6.171a. Lard SC
lower, at $685.. Oats-Receipts ITO
cars. May oats broke to 2519c under
heavy offerings, and other futures fol-
lowed in the decline. The close was
fairly steady.
THE DAYS TRADING.
CHICAGO, April 3.-The feeling was
unsettled to-day in wheat, 2and a sur
prise was in store for holders of May in
the shape OF material decline. with
the more Offered futures sharing in the
weakness some. Only fair business
was transacted, and influences govern
ing the market principally local. May
opened from &c to 115c lower than Mon
days closing and declined sc more;
tiuctuated some and closed 45Sc lower.
July opened 119c lower, declined &c
more. then rose 1c and closed about the
same as Monday. The May future is
clouded in mystery. and operators are
in the dark, though it is the
opinion that the decline to-day has
forced a large holder out. 1t was
rumored to-day that the st. Louis mar
ket is being controlled by Chicago
grain house at Berlin had failed. Out
side influences had but little to do with
the market. While July ruled weaker,
there nevertheless was good buying. es-
pecially during the last half of the SEES
sion, with inquiry also for June. The
buying, too, was credited mainly to
parties who are interested with the bull
side in the May future. A moderate
trade was reported in corn, and the
range developed was relatively firm.
There were no new outside features
of Importance, and prices were
governed entirely by local in
fiuence. The market opened at Mon
days closing prices, tiuctuated within
than Monday. Oats were weaker and
lower, but the volume of business was
only fair. Buyers were scarce and the
liberal offerings caused decline of g
(99sc, May being the weakest. The
break brought in few buyers, and a
reaction of 1@4c followed, but the
close was quiet at nearly inside figures.
Quite an active business was transacted
i'll mess pork and prices ruled some
what Irregular. Opening sales were
made at 5(9719c decline and further
reduction OF 15(01715c was had. Later
e. Steadier feeling prevailed and prices
rallied 10@121Sc and the market soon
weakened again and prices receded
1275915c. Near the close prices rallied
slightly. but trading wss light. A COM
paratively light trade was reported in
lard and the feeling was easier. Fluc-
tuatlonS III prices were slight. Trading
was only moderately active in short
ribs and the feeling easier. Prices
ruled 21a@5c lower and the market
closed quiet.
PRICES FOR THE DAY.
Wheat-NO. 2 May opened at 991lc,
closing at 951sc: June opened at 945sc,
closing at $3.50; July opened at
at 7919c. closing at 79Ic. Corn-No.
May closed at 355sc; June opened at
S55sc, closing at 355sc; July opened at
$500, closing at $500. Oats-No. 2
May opened at26c, closing at 255Sc: June.
opened at 2515c, closing at 2516c: july
opened at 25$sc, closing at Csc. Mess
Pork (Der bbll-May opened at S12.4
closing at S1225; June opened at
S12.32112. closing at S123O; July opened al
$3.50, closing at S12.3712. Lard (peI
100 lbs)-May opened at $40 u, closing
at S6.97l9: June opened at sos, closing
at 81; July opened at $40, closing
at sos. Short Ribs (per 100 lbs)-
May opened at $500, closing at S6.1716
June opened at 1928, closing at 81. rs:
July, opened at $3.50, closing at $500
Cash quotations were as follows: Flour
nominally unchanged. Wheat-No. {
spring, 947ac; No. spring SIC No. red
9412c. Corn-No. 2, 345sc. Oats-No. 2
24alc. Rye-No. 2, 43c. Barley-None
Flax oeed-No. l, S1.51@1.52. Timothy
Seed-Prime, S1.33@11. Mess Pork
lbs, S6.95@715. Short Ribs-Sides 0oose'
S6.15@6.2O. Shoulders = Dry sailed