St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-03-20
THE PENDULUM OF PRICES.
May Wheat Swings Up to SIC, and as
Quickly Drops Back to 95e.
DECIDED ADVANCE In STOCKS
With Pronounced Gains in Manhattan
and Pullman---Eifect of the Cop
per Crash.
Special to the Globe.

Special to the Globe.
CHICAGO, H., March 19.-The wheat
market opened IN quiet way that led
many to believe that there was to be
slow dragging market for the day. Not
so. however, for before / p. m. there
was action enough to put May wheat
up to 97c, and down to Csc, while the
trade in the pit was both active and
heavy at times. Opening prices were
1sc lower for all futures. The first
hour sold at 96lf09634c; June, $3.50
9215c; July. S614@S61ac. A piece of
bull news that $4,000 blu of wheat had
been marked at San Francisco for Aus
tralia, and that $4,000 bu have cleraed.
was well circulated. This, with buying
by Kent and Hutchinson, helped May
up to the top point, 97c. All other in
tiuences were beariSh. Poole was
heavy seller all morning, and the crowd
said he was unloading for Fairbank.
while Hutchinson supported the mar
ket. Later Hutchinson turned seller
and every body seemed to be seller
at 97c. From 81 TO 9614c the decline
was about as the early adyance-noth-
ing surprising. From 9G1Sc the price
slipped off to 95c with great haste. 1t
was long stuff rather than bears that
broke the market. There was rally
To 951%c at once and the pit became dull
toward the close. The movement of
wheat here and elsewhere was about as
usual and did not affect the price.
Wheat was steady at the close. The
corn market could not stand the press
IRE of nearly 800 cars receipts, and
nearly p per cent of this large amount
of the contract grade. Receipts were
posted at 1S2 cars, with 1S4 cars No. 2
grade. Through shipments were 206
ears. There was free selling on the re-
ceipts and grading. led by brokers for
Cudahy and by Rumsey and others.
Oats were strong, with July the most
active future. Receipts 200 cars. Pro-
visions were slow. Fluctuations were
within narrow range. The close was
233s@5c better than yesterday.
THE DAYS TRADING.
CHICAGO; March 19.-There was fair
trading in wheat to-day and feeling con-
siderably unsettled within lower
range of prices. Influences governing
May opened a shade under yesterdays
closing. but advanced sc. then declined
21sc under rather free offerings, re-
covered &c and closed about 1c lower
than yesterday. June closed sc lower.
July declined 1c and closed &c lower
than yesterday. The market started
out easy, influenced by the continued
favorable weather here and dull, heavy
cable advices. 1t was noticed that
there was considerable wheat on sale at
the advance and the impression was
that prominent local trader
was the principal seller. This,
together with a denial Of the
rumor alluded to. about the Califor-
MIA shipments to Australia, and reports
that there were good many continent
tai selling orders on the seaboard. caused
a steady decline. Corn ruled active and
fluctuations were in narrow range, the
volume of business i'm the aggregate
was larger than for several days past.
The temper of the crowd was decidedly
"bearish," and repeated efforts were
made to break the market. Trading
was confined 10 the May future largely,
while the nearer deliveries were quite
neglected at times. The early declines
were attributed to large receipts, both
present and prospective. The market
SiO ClUSC.
within a s5c range. closing BG914c lower
than yesterday. Oats were fairly active
and unsettled. A feature of the trading
was the activity in May and the
weakness and decline in June and July.
The advance in the former was due to
purchases by local operator, which
caused an advance Of }4@3sc; aD at
tempt to unload. however, resulting in
a reaction and decline of &c followed.
The latter part of the session was
marked by Quietness and steadiness,
and the last sales were at nearly inside
prices. Only a moderate trade was done
in hog products, and weak feeling pre-
vailed during the greater portion of the
session. Speculative offerings were
rather free early, and prices declined
materially on all the leading articles.
Later the demand improved somewhat
and prices rallied again, but settled
back to about medium figures. Near
the close the feeling was frmer, and
prices advanced to outside figures, clos.
ing steady.
PRICES FOR THE DAY.
The leading futures ranged as follows
Wheat-No. 2. May, opened at $500,
closing at 964c: June, 9211ac. closing al
923Sc; July, S615c, closing at S55lc;
year, S014c. closing at soc. Corn-No.
- II pm ClOSCtt tt Dt%2Ca Ihtty Oo/S L, clOS-
ing at 35c; June, 35114c, closing at 3515c.
Oats-No. 2 May opened at 2511Sc, closing
at 253sc; June, 253sc, closing at 2515c:
July. 2511@c, closing at 25c. Mess Pork
tper bbl)-May opened atS11.9 215 closing
at S1L.9715; June S11.S713, closing Sl2:
July, S12, closing S12.10. Lard per 100
lbs)-May closed at $685.; June,
opened at $500, closing at $685.; July
$685., closing at $685.. Short Ribs
(per 100 lbsl-May opened at So 1915,
closing at s6.1211a; June. 1920, closing al
s6.1735; July, $500, closing at S6.22211sS
Cash quotations were as follows: Flour
dull and unchanged. Wheat - No. {
spring, 9311f(09316c; No. spring, $50 a
SIC; No; ared, 9$54 a9311Ge; tOrn-No: :,
SIC. Oats-N0. 2,24Ac. Rye-No. 2, 43c
Barley = No. 2, none. Flax Seed
No. 1,S1.5O. Timothy Seed-Prime.s1.4.
(91.44. Mess pork, per Dbl, s1l.90@
11.95. Lard, per 100 lbs. $685.. Short
ribs sides, Qoose), S605(06.10. Shoulders
Dry sailed, (boXedl, S5.50(05.75
Sides-Short clear, (boxed), s6.25@
6.3715. Whisky - Distillers' finished
goods, per gal. S1.03. Sugar un-
changed. ReceiptS-F'lOur, II, 900 bbls
wheat, 10000 bu; corn. $4,000 bu:
oats, $4,000 blu; rye, 1000 blu; barley.
$1,000 Blu. Shipments - Flour, 5000
bbls; wheat, $4,000 bu; corn. 1900 bu
oats. $4,000 blu; rye, 1000 bu; barley,
$4,000 bu. On the produce exchange to-
day the butter market was easy and
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