St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-02-15
CASH WHEAT DEMAND
But HAY Declines a Number
Of Points in the Chi
cago Pit.
For Awhile Hutchinson Doled
Out the Cereal at Ninety
Eight.
Brokers Generally Have More
Selling Than Buying
Orders.
Jay Gould's Return Deadens
the Wall Street Stock
Market.

CHICAGO Feb. 14-The cables quoted the
English and French markets firm, and that
piece of information was all there was at the
opening to put up against splendid weather
Cor July wheat and receipts of 254 cars at
Minneapolis and Duluth. Hutchinson threw
he weight of his operations at the start on
nc side Of lower prices, while NJ. c. Mitchell
and n few of the heaviest scalpers tried the
fleet Of few purchases at the opening fig
ares, which were 4GlSsc lower than at the
close of the market Friday. The opening
price for the May delivery was 9SlSc, and Csc
ruled Immediately thereafter. Hutchinson
continued to dole out wheat at Csc, and it
very soon declined to 9758c, at which
point Mitchell turned seller on a lib
eral scale. Logan & Co. were also
dispensing wheat freely, and Mccormick &
Co.. Baldwin & Farnum and Kennett & Hop
kins were likewise supplied with more sell
ing than buying orders. The market looked
heavy. and was so in fact for the publica-
lion of BradStreet's estimates of the exports
from both coasts this week failed 10 affect it,
although showing 2, 1886, 6S4 bu to have been
cleared in the shape of wheat and flour, COM
Jared with 1,366000 blu on the previous week,
and confirming also the insuiiiciency so far
of the rainfall in California. The price
halted long time around 9lS4c and 9G7Sc, but
finally declined TO 91I2c, and before noon 1t
had gotten down to @ nc sellers The dis
patches which came to hand in the course of
Inc forenoon gave short seller the advantage
had rained again atPortland. and was still
cloudy al san FanciSco. The guesses about
the official visible supply were wide apart
ranging ali the way from only 100000 bushels
decrease up to 100000 bushels decrease. The
sole reliance of the bulls was the known
good demand for cash wheat and the firm
ness with which holders maintain their fig
IRE of May prices for it, Toward the close
of the session. on reports of good sales of
cash wheat to New York parties. May recOv-
cred to 91s4c The corn market was weak
and inactive under the influence of dry, clear
and mild weather. together with fairly good
receipts and sympathy with The weakness in
wheat. Hutcninson's selling operations was
the chief local influence along with the
promise of increasing receipts. Outside or
ders appeared scarce, and a local scalptng
business for small fractions was the feature.
Oats were dull and quiet ruling easier
through sympathy with wheat. Bartlett
Frazer continued TO SELL while Hutchinson
was buyer. Considerable activity was no
Liceable in rye, but the boom flattened cut,
and the close of the May future was Sc
lower The provision market was nervous.
with an apparent reluctance among the trad
erS on either side to make heavy ventures.
The impression appeared to be quite general
that after the very considerable decline of the
past TWO or three weeks selling for a further
fall did not promise much immediate profit,
and on the other hand, with such enormous
stocks of product and the continuation of
The present big movement of hogs, a pur-
chase appeared equally uninviung. The re-
ceipts of hogs this week were $1,000 head over
he estimates made week ago. To-day's re-
eeipts were smaller by 5000 head than had
heen generally looked for, and gave a firm
,one to the early trading, but that influence
vas lost later, and the early advance it
caused disappeared, and left prices at the
close to-day about Level with yesterday final
quotations.
The leading futures ranged as follows.