St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-17
WHEAT WAS VERY DULL
AFTER TOUCHING So THE CEREAL
MOVED UP a FRACTION


STOCK MARKET WAS QUIET.
Scigniorage Measure Much Talked
About in Financial Circles But
Had No Effect on Speculation
London Bought Leading Rail-
road shares-Iteported Consol-
idatiOn Rooms Cordage.
CHICAGO. March 16.-After Gull and
easy session wheat spurted at the close,
and finished &c higher than yesterday.
1t was wired from New York that mill
ers there had bought 250.000 bushels of
No. 2 red winter, and had taken $50, 900
bushels of No. ] northern at 651sc, C. l..
f., Buffalo. That exporters had taken
Is boatloads besides; and sales of No. 2
spring for immediate loading were re-
ported mere. This seEt the price up sc
after May had touched 5Sc, and the close
was but sc from the top. Fine weather
and discouraging cables had previously
kept the price down. May corn closed
&c lower. May oats &c lower and pro-
visions lower all around.
Wheat was very dull. There was
nothing TO enliven it. Previous cOndi
tons were unchanged at the opening,
and up to within an hour of the close
there was no fresh news of sufficient
weight to turn the scale of general
opinion. The Liverpool market was
dull at unchanged prices, the weather
WA IN hprn nd rf,a nj c nd
shipments did not vary sufficiently from
the recent daily average to disturb
either shorts or longs. Chicago receipts
were 81 cars, compared with 1876 year
ago. Minneapolis and Duluth reported
q total of 209 cars, compared with 274
Oh the corresponding day of last year.
A good Inquiry for cash wheat at New
York, 10Th from shippers and millers,
was reported there, and Minneapolis
and Duluth opinion. as expressed over
the wires, continued to be of the same
bullish tenor as ever.
The exports from the four Atlantic
ports amounted in wheat and flour
together to $4,000 Du, and when re-
ported gave little needed support to
prices. New York estimated a decrease
in tho visible for the week of l,750,0O0
bu, and those who are in the habit OF
guess. The opening price for May was
5Sc, and it ruled between that and $3.50
up 10 within twenty minutes of tie
close. The bulk of the days tranSac-
tons were al S11s(G5S1lc. A report re-
ceived from New York just before the
close advised the purchase at Duluth
by New York millerS aOf 100000 bu of
No. northern wheat, C. i. f., Buffalo,
and 220,0 bu were bought here for
Immediate loading. The latter was all
No. 3 spring. That closed the market
up strong al 5S12c bid.
Corn was weak after short spell of
SteadineSs near the opening. The re
celplS for the day were 3G4 cars, against
2S5 estimated, but estimates for tomor-
row amounting 10 $40 cars was a weak
enlng influence. and was instrumental
in bringing about the decline which
succeeded 10 early steadlness. The
opening for May was 373sc, and it had
declined to 3118c about 1880 O'Clock.
The market strengthened toward the
close, i'll sympathy with wheat, and May
Was worth 373sc at the close.
But very light business was trans
acted in oats. The market was some
what lower, Influenced by the fine
weather, which has increased the re-
ceipts, and also by the decline in corn.
Very little stuff was offered, and buyers
were few. Trading was entirely local,
aud mostly by scalpers. Today's ar
rivals amounted to ii cars more than
were expected yesterday. May opened
IG14c under Yesterdays last price at
3U%(@31c, and sold grad ualIy down to
3O12c.
/ he market firmed up slightly before
the close. May sold up to 30%Sc and
was offered at 3U2lc at the end. Hess
was reported to have bought freely
Provisions opened firm. at slight ad-
vance in prices. The International ana
the Chicago Packing compal les were
fair sellers at tie opening. The pack
ers generally reported 4 fairly good in
curry Tor cash meats. There was some
decline Oh The selling referred TO, and
buyers held aloof, apparently expecting
lower prices, The market backed down
and filleu IL little during the day, and
acted fairly steady after the first decline,
until George Baldwin, about half anhour
from The close, made one of his charac-
terlstic raids. which had the effect
OF knocking PC Off the price of pork in
afew minutes. Closing prices were near
the bottom. Compared with last night,
May pork is 1c lower, May lard sc lower
and May ribs &c lower.
Estimated receipts for tomorrow:
Wheat, AZ cars; corn, SIC cars; oats, 27O
cars; hogs, $1,000.
The leading futures ranged as follows: