St. Paul daily globe., 1891-07-02
TRADING WAS SMALL.
The Markets Are Dull and
Sluggish on Conflicting
Reports.
Weak Opening in the Leading
Cereal and Uncertain
Movements.
lore Strength Developed in
Corn, Affecting Oats and
Provisions.
hfteP a FURRY, Wall Street
Settles Back to It's Old
Dizziness.

CHICAGO. July 1-Wheat opened weak and
lower. The situation for a time seemed
wholly in the bears favor. The weather in
he Southwest was all that could be desired,
and cables were among the weaket yet re-
.eIved ReeTbohm quoted Liverpool 162d
over; London Cd01s lower on California,
and hardly any demand even at the reduc-
ION. Private cables made even q more elab-
Tafely bad showing. They said that the
weather was fine that Europe had over
bought that holders would have to let go,
ana mat French holders were anxious sellers.
Antwerp reported no prospect for an i'm
pTOvement until the heavy receipts of April
and June had gone into consumption. The
markets Oh this side all ruled lower
and for time there was weak
and sluggish feeling here. But
the deliveries on July contracts were very
liCht-;n fact. almost nOthing-and it was
found HAT, veal; as the market appeared to
be, there was little or no pressure to sell.
New York reported liberal clearances yester-
day, AID then came Bradstreet's report. show
ing Il decrease in the available supply during
The week Of l.492lD bushels east OF the Rock
les and 1920 bushels increase on the west
coast. r his improved the feeling little.
About this time Partridge began to pick up
December. and was soon followed by Ream,
CudGhy and that following. Corn made
SpluTge about the same time. ana these COM
bined influences put some lie ana VlgOr
INTO the trade, but the business de-
veloped was not large. The ad
vance brought out free offerings, both
in the way OF realizing on purchases made
early, and also in the way of short selling,
and the bull news, as well as the bull en-
thusasm being exhausted, there was drop
in values Partridge, who had bought freely
on the early weakness. turned seller, and
assisted i'll the decline. cablegram from
Berlin told of indications of cOrnerin July.
Prices renamed rather steady with light
business passing until within a few minutes
of the close. when the shorts took fright,
probably on rumOrS Of a corner abroad and,
amid some excitement rushed III to cover,
putting prices 10 the highest point of the
day. the market closing firm. July opened
at SGI2c: sold to SS34c, rallied to 9Oc; tluctu-
ated narrowly with an upward tendency till
Just before the close, when it bounded from
. l2c 10 !Gl2c. and closed there. December
O0ened at S1I9GI I3c sold off to S7Ssc rallied,
and on the final rush went to SsSSc. Corn
developed good deal of strength, and kept
It 10 the end. There was growing uneaslnesS
on the part Of shorts and increased eagerness
TO cover. Gables were stronger. the cash de-
mand liberal. and advices from the interior
indicated that shipments are very likely to
show serious falling off The offerings were
limited, and there was an active competition
for all that was for sale. The deliveries
on July, contracts amounted TO moth
ing and this contributed to the
firmneSs. Some big short lines were COW
cred. Coagdon being good buver. Baldwin
d Farnum were also active, and also a host
If smaller shorts. July opened at 54$S@54I2c,
ella up with frequent small reactions, to
sac, broke 10 554c, near the close advanced
agaiu with wheat to 56c and closed lsc lower.
The fluctuations in oats followed those III
corn. Provisions fairly active and inclined
% tirmness, owing to the strength in corn;
i've hogs at the yards, however, were 50l0c
lower. September pork, as the result OF to-
days trading. shows an advance of 12I2c.
Lard is up 2I2c. and ribs 7I2e
THE leading futures ranged rs follows: