St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-06
Cables Steady but Quoted No
Changes in Prices
Abroad.
Wheat Expected From Wash
ington State DETECTED
Into Other Channels.
A Moderate Rally on Wall
Street Brings UP a Few
Stocks.
Brokers Still Quite Averse to
Buying Heavily Upon
Margins.

CHICAGO, Dec. 5.-After a weak opening
and bulge of about cent over the starting
price, wheat settled back and closed nearly
where it commenced and i40lssc decline
since yesterday. Corn was scarce in the cash
market and the futures ruled strong, May
gaining &c The carrying charges are
crushing the life out OF speculations in hog
products The wheat market opened weak
and sSc lower for the May delivery than 1t
closed on Thursday afternoon. The open
ing cables were steady, but quoted no change
in prices abroad; consequently the feeling of
weakness which characterized the business
of the first five minutes did not proceed
from the foreign markets. The weakness
at the New York stock market at the ope IL
ing and rumors of an important gro
Gerry commission house in the East being
in trouble were probably the sources OF the
easier tone displayed at the opening by the
wheat market. Bloom bought heavily and per-
sislently,and was perhaps the best individual
supporte OF prices to-day. Hutchinson, on
the other hand, sold and kept selling, and he
was well seconded by Schwartz, Partridge
and some of the leading commission houses,
who appeared tired with selling orders on
the advance which occurred after the first
hours trading. The Washington state wheat
which, earlier IN the season, promised to fill
all the gaps caused by the deficient crop east
of the Rockies, has, it would appear. found
some holes elsewhere which it can stop with
more profit TO its owners. Peavy & Co..
the Northwestern elevator men, who
made sales of large quantity of
the wheat referred to for forward delivery
for st. Louis are now begging off from the
parties to whom they had it sold. AS cash
wheat is lower now in ST. Louis than when
the contracts for the Washington wheat
AZ Oh anil hny
trouble in having bargains Cancelled. The
price of May wheat here. which had opened
at 9S7sc per bu>hel and sold off to 9Sl2@
9SSSc, advanced to 94s4c. This stood at the
bank failure at Vaudeville Pa. was received
The price started on the down grade, gently
for time, but soon got more way on, and
the momentum. when it neared 99c, was
crash. The truth of the reported
bank failure was denied at this
juncture, which caused a sudden
reaction to J0i2c, but its later confirm
closing price was HsEs@99c, after it had
again declined to 9Ss4c. The spread between
December and May at the close was 8 Sc.
There was no noticeable change IN the price
of corn for May delivery near the opening,
became strong later when first started up.
and having once evinced the brisk demand
for and scarcity of cash stuff, prevented the
decline in wheat from having much weaken
lllS euecl on corn. A prominent commission
house had much difficulty in filling an order
yesterday which they had received from New
York for %, 900 bushels of No. . corn, and
the firm had a further for $50 ~ BUSH
els to-day which it was impossible
to execute for lack of the corn. The
price of May at the start was 53ssc with a
few sales at 53lac, and there were good
many fluctuations between these narrow
limits before the price gave any very decided
indications as to which course it would
ultimately pursue. The advance which took
place stopped at 5414c. and the closing fig
ures were 53I5c, being lac advance since yes
terday. Oats developed fair activity ana a
better feeling, prices advancing l2c, and,
after receding to nearly previous inside fig
ures, became firmer, but weakened and
closed at intermediate prices. Pork Rather
an active business was transacted, and prices
ruled somewhat irregular. Opening sales
were made at .l2@5c decline. Later
prices gradually receded 12l2d115e. To-
ward the close of the market it ad-
vanced 5@7I2. and closed comparatively
steady Laru-QuiIe q good trade was re-
ported. Opening sales were made at .l2c
decline, and was followed By reduction of
;G17l2c. Later prices rallied about 2i2c. and
closed rather steady. Short Ribs-Consider-
able interest was manifested, and trade at
times was quite brisk. Opening sales were
made at about Thursdays closing figures
but prices gradually declined 50l7lac. Later
a steadier feeling prevailed. ACCOMPANIED
with an advance of 2l2c and ruled steady to
the close
The leading futures ranged as follows: