St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-02-07
Schwartz, Hough, Lamson ct
al. Become Prominent
Sellers.
Hutchinson Becomes a Heavy
Buyer During the Last
Half Hour.
The Wall Street Stock Market,
in the Main, Dull and
FeatureleSS.
Wizards Weak, With Indus
trials Decidedly Dull and
Sluggish.

CHICAGO, Feb. 6.-The mild weather
and the heavy receipts in the Northwest
caused a weak feeling in tine wheat pit
at the opening. The first sales of May
were 1890, as against 995sc at the close
of the market yesterday, and in five
minutes time the fraction was planed
off and left the smooth surface OF 99c
as the market price. There was no
spring to the situation, and about &c
was as much reaction as the covering of
some shorts at 99c could produce. Bust
ness was dull, outside orders were
scarce, and the parties who look for
higher prices by and by appeared in
different about the decline, to which they
made no active resistance until around
IL o'clock. After long period of mac
tivity there was some brisk trading
and break to 9S15c. Early in the
session, Schwartz. Hough, Lamson,
Baldwin, Brosseau. Mccormick & Co.
and Kennett-Hopkins were among the
prominent sellers, and about the same
time S. V. White & Co., Irwin Green,
Lindblom & Co.. Eggleston, Durham &
Milmine-Bodman were moderate buy
ers. Hutchinson was the most infiuen-
tial trader, and was buying little July
wheat and at the same time selling a
good deal of May. He was reported to
have sold puts to considerable extent,
and his action on the market was sup
posed to indicate that he would be
rather pleased to have the wheat put to
him. TIE tone of the Liverpool market
at its close being somewhat better. than
the opening may have had some
influence in creating a demand
for wheat on the break referred
to above, but it is more probable
that the bulls, who were waiting for
such a time as this to buy on, seized the
opportunity simultaneously with the
shorts, and the common buying of the
two interests caused quick advance to
991s, with quick reaction to 9SS4@98I
before the close. Hutchinson also be-
came heavy buyer OF May wheat in
the last half hour, and at the price puts
generally sold at yesterday afternoon
the closing quotation to-day left no
profit in using these privileges. The
trading in corn was Influenced by
Hutchinson purchases, the moderate re-
ceiptS and the poor grading until after
the estimate of tO-morrow's receipts
came to hand. The prospect of nearly
double the number of cars on Sat
urday which figured on to-day's inspec-
feeling to prevail and the price of
wheat breaking about the same time.
May corn sold off from $500 to $3.50.
The reaction which followed left the
price at $3.50. Receivers sold good
deal of corn from which it was supposed
that they were looking for heavier re-
ceipts in the near future. Hutchinson
supported the oat market, and to do so
had to buy fully million bushels. He
maintained prices, although the crowd
sold freely and many operators in wheat
and corn sold oats to insure themselves
against loss in the other markets. First
sales of May were at 461s@464c.
Thence the price went to 1880, to 46A
@463sc to 4614c. In provisions an
increase of about 5000 hogs
over the estimate made yes
terday caused the opening to be
rather soft, and at sharp decline from
the prices of the preceding afternoon.
May pork started at SOTO, compared
with 5000 at the close of yesterdays
session. Ribs sold at $5.1219, compared
with $5.1719, and lard found no pur-
cnaSerS at over So.U0. Inc opening prices
proved to be the highest Of the day, and
after an inactive session without any
recuperative energy appearing to re-
lieve monotonous decline, the prices
were at the lowest when the time for
adjournment had been reached, and the
market appeared weak at the decline.
The stocks of ribs III Kansas City re-
ported to be 100000 lbs, compared
with 100000 lbs year ago. Packers
were the sellers. shorts the buyers here
to-day.
The leading futures ranged as follows:
apu,c,rs open High Low Clos
oi'iioi11S' ing. est est ing.