Newspaper Page Text
VOL. VII. SETTLEMENT DAY. Much Activity in Wheat and an Unexpected Appre ciation. The New York Game to Depress Prices a Miserable Failure. ; Corn Unsettled and Irregular, Closing at a Considerable Advance on Yesterday's Figures.' A Liberal Business in Hog Products, a Steadier Feeling and Somewhat Higher Prices. Wall Street Mixed, Quotations Going First Up, Then Down, and Gould Ke ported us Kugineer. CHICAGO [Special Telegram to the Globe.] CHICAGO, May I.— surprise was in store for the bears in the grain market to-day, and those who at the outset were over-anxious to sell at a further material decline from yester day's close, were still more anxious to buy back before the end of the first hour on 'change, at a much higher price. The effect of Keene's failure was largely over-estimated, as there was really no reason why it should chance the course of the Chicago markets in the least, except, perhaps, slightly in stocks, and that fact was fully realized by the shorts long before the close of to-day. The advance was nothing more than ex pected by those who were informed as to the actual situation of the trade, as there was nothing in the legitimate position of the market to justify yesterday's decline, which, as stated in these despatches, was' due al most entirely to the manipulations of those who had unloaded on the bulge and were working for a decline on which to buy it back, and those of the crowd who took ad vantage of this break yesterday afternoon and early to day had occasion to congratu themselves, while those who stood out, as many of the large manipulators are supposed to have done, were greatly disappointed at the unexpected upturn. The provision market was strong and high er, but there were no legitimate reasons for the advance, except perhaps in lard, where light stocks were imported, the consumptive demand being light. The only buying was by shorts, and the legitimate situation was weakened by the large arrivals of hogs, the results for the day amounting to 20,500 and 61,000 since Monday morning. These facts arc not of a character to encourage buying far on advances. The new system of sending out market quotations, which places them entirely in the hands of the board, went into operation this morning, and worked admirably. The board employs its own reporters and messengers, making its selection from those previously employed by the several telegraph companies and placing the entire department of market reports under the management of Mr. E. P. Whitford, formerly manager of the Western Union board of trade office. The market re port messengers are distinctively uniformed by a white canvas cap encircled by a black band on which are the letters "B. of T." The course of the wheat market to-day was a bitter disapointment to the bears, as they anticipated a sharp decline, based on lower New York and English markets, but the result was directly opposite. This being the first of the month, the regular monthly settlements deferred the opening of the ses sion until 10 o'clock, and as the operators had become well informed as to the unfavor able situation in other markets the bears were prepared for a down raid, and the opening sales were J^@ ><fc under yesterday's close at 92J£@92>£c for June, both prices being accepted at the game time, and a few reported at 92c, but the demand to buy was unexpectedly large, in cluding heavy orders from other points, and when the bears who were so anxious to sell at the opening, had unloaded, there was less realizing, while the demand to buy contin ued to increase, and although there were occasional downward movements, they were quickly followed by an upward reaction, and the market may be stated as having been strong through the entire session, and closed at the highest prices. A prominent broker said as to the influ ences affecting the market: "The specula tive element here, which was advised of the large purchases here yesterday afternoon by New York parties, suspected there was a little game set for them, and the manipulators there, taking advantage of the hour and a half later opening of our board, were sus pected of depressing New York for the pur pose of making the crowd here so sick they would be willing to sell their June wheat this morning at 90e, but the boys here 'tumbled to the racket,' and went through the gauzy blind with a rush, and opened June at 91J^o and July at 9224 c. They boomed the market like a flash, selling July ri-rht straight up to 95)i'c without stop ping, and New York kept its market at about $1.10, hoping to demoralize the crowd here, but the boys showed their mettle and staid, holding the boom right along, which they had no trouble in doing, as there had been created yesterday a considerable short inter est, and there were numerous buying orders here from interior points, trying to get in on the break, and these two influences kept the market humming right along." » One of the most noticeable, and at the game time strongest features of the market, was its enormous capacity for absorbing and holding everything offered. Very little of the wheat bought again came on the market, which, in the face of the fact that buyers had good profits, showed they bought with the in tention of holding, and closing sales were at 94%@94^c, showing an advance of 2}£@ 2%c over the opening figures. The receipts were again light and the shipments heavy, aggregating 390,000 bushels, and it is esti mated there will be less than 8,000,000 bush els of contract grades here at the close of the week. Stocks at other points are also de creasing, and advices from London state that last week's consumption in the United Kingdom exceeded former deliveries and for eign imports for the same time by 1,549,000 bushels. The deliveries here on May con tracts have been liberal, but not so heavy as expected, and a majority went to parties who are not likely to again deliver it until taken for shipment. On the call offerings of wheat increased and prices declined %@%c, while on the curb the feeling was weak, and June declined to 93% c. Corn was active and higher, but very much unsettled and prices irregular. The deliveries of May j contracts were free, but generally provided for. The receipts were some heavier, . and shipments continued quite large. The market opened, unsettled, and some sales were made at lower prices, but became strong under active buying, and prices advanced I%@l% C above inside prices, with numerous fluctuations, eased off ' and • finally closed at , •bout %@f£s higher, than the closing figures ■2_r iBb /^^M^Vv\V<SAV., ____r^_i_ra_ERF "^__P on 'change yesterday. Buying at the open ing was largely to fill orders from the west, influenced by bad weather, with local buying soon following. July closed at 55>sc on 'change, dropped %c on the call and recov ered %c on the curb. V.5 ; Oats were fairly active on speculative ac count. There were large deliveries, and considerable was done in the way of chang ing. May contracts to June at 1% @ l}£c premium. The market opened firm on ac count of other markets being better. There was and early advance of }£ @ %c over yes tesday's closing, but the market subsqueutly declined to yesterday's closing for May, J£c below it for June and 333 8 c for July. The last sales on the curb for both options were at 33c. A liberal business was transacted in the provision pit, and a steadier feeling prevail ed, prices being moderately well supported. The deliveries of the product on, May con tracts were quite liberal and readily accepted. Foreign advices indicated no particular change in that quarter, and eastern markets were comparatively steady. Speculative trad ing was fairly active and the interest center ed in contracts in June and July. The ship ping demand was moderate and receipts were light. The inquiry for pork was only moderately active and offerings were not large. The market opened rather easy and prices ruled about 5c lower, but rallied again 30@40c and ruled with considerable steadiness to the close, which was at §17.47}0 for June. On the call pork was stronger and advanced 2}jC, but on the curb fell 10c. Considerable interest was manifested in lard, and some little excitement was occa sioned by the circulation of a report that the present supply is less than 100,000 tierces, which is unusually light. The report will be posted to-morrow, but already the market has advanced from SS.OO at the opening for the June option to $3.50 per cwl, where it stood firm at the close. It is understood that there are large lines of shorts to he cov ered in this article, and if the supply is ac tually as lorn as was rumored to-day, pros pects of a considerable advance seem immi nent. Short ribs were only moderately active and the offerings were not large. Prices ruled steadier and 2@se higher. The shipping de mand was light. The cattle market ruled slow and prices weak from first to last. There was scarcely sufficient Dbusiness transacted to make quotations. Neither the shippers, dressed beef operators nor buyers of export cattle seemed to want fat cattle to-day. There was a fair demand for butchers' stock and prices ruled steady. The demand for stock ers and breeders continues light and the sup ply is only moderate. Trade opened rather slow for hogs, and prices along at first were rather easier. Later there was a steadier feeling, the market closing about the same as yesterday, but with fewer left over. There was a brisk demand for sheep, and prices were again a shade higher. A. M. Wright & Co. say: "So far as regards wheat, we still adhere to our former convic tions, that those who buy on soft spots and stand on their deals have fair assurance of profit." W. H. Minor & Co. say: "We consider the recent decline was but natural after our sharp advance, and while we may see further weak places we consider them safe to buy on, as we cannot discover any features tn the situa tion that looks like a bear market." Milinine, Bodman & Co., say: "We may expect this kind of unsuspected flurries in the market just so long as New York is in its present manipulated condition. The general situation, however, we do not think justifies any material or permanent advance, but this makes but little difference while the speculative element of the whole country is so active and excited. A very nervous and uncertain market will be in order, and any one operating in it now must expect to suffer some disappointments, with a pretty fair chance of losing money, but we think the safest plan now is to buy it on breaks, and the short side we regard as dangerous ex cept on very sharp bulges," Crosby & Co. say: "The day's action and business demonstrated that the long stuff was well held, and it was a matter of surprise that the early break did not shake it. This has changed the local feeling to strength, and the rally was quite a punishment to our local bears. The bulls, who have been play ing for a break to buy on, are still left, and only a few of them have got their wheat back. We think the break has again fixed the market for an advance, and it looks higher." Interview with S. H. Wood. Chicago, May I. Mr. S. H. Wood was questioned by a Globe correspondent to-day in reference to certain statements published regarding the circular 'letter from his firm to their customers, published in Saturdays Globe : "I wish to say in reference to our letter to customers that the pointer on the market was received from one of the leading houses on the Chicago board of trade and that we consider it a good one, and in regard to the membership on the board of trade, I have very recently purchased a mem bership on the Chicago board of trade, and if the Pioneer Press will allow us only sufficient time to have the membership transferred we will soon have it on record. CHICAGO FINANCIAL. | Special Telepram to the Globe.l Chicago, May —The demand for money was a shade more active, larger sums being required for monthly settlements. Board of trade interests were the principal borrowers. There is no falling off in the supply of in vestment funds. Interest rates continue un changed at 5@6 per cent, for call, and 6@7 per cent, for time favors. New York ex change was sparingly offered at 50c premium per 000. Foreign continues steady at $4.S6}£ for sixty-day documentary sterling. A decrease in bank of England rates was expected, but did not take place, 2% per cent, being still the rate. To-day's asso ciated bank clearings were . $8,436,000, against $7,307,000 yesterday. NEW YORK. . [Special Telegram to the Globe.] New York, May 1. —The market showed signs of doing better very soon after the open- Ing. The failure of yesterday seemed for gotten. Western Union acted rather fickle during the first hour, as did Union Pacific, but by one o'clock, everything was on the advance. Northern Pacific preferred was the leader and remained strong all day. The business of the road is booming up so that its friends seem to have hope that it may yet be a dividend-paying property. Alton rose to 123, and Chicago, Burlington & Quincy to 138 during the morn ing. There was lively trading In St. Paul also. The bears came to the front during the last hour and toppled over prices in a lively manner. Western Union dropped two points and the remainder were considerably unsettled. Mr. Gould was credited at the last with having engineered the advance and also with being a free seller at about the highest points. Speculators in privileges to-day were bidding 50c on the dollar for. Mr. Keene's obligations. Stocks closed excited and weak wiUt- rumors of ST. PAUL, MINN., FRIDAY MAY 2, 1884. trouble in Philadelphia and that Western Union telegraph would commence a war of rates to-night. , . ■ A. M. Day says: "The market was sup ported at the opening, and during the fore noon advanced quite strongly. on evening. The announcement of a reduction of rates of exchange caused a further improvement and a better feeling throughout the last. During the last hour it was reported that Western Union had made large cuts in day ratea and would publish reduced night rates this even ing. On this Western Union broke. Union Pacific and Gould stocks rapidly declined, and the market closed feverish and unset tled. The strength of Northern Pacific preferred is probably based on their large in crease in earnings. During the forenoon, money getting more active, there appeared to be no buyers,, but shorts. Our informa tion is that granger stocks will show an in crease of earnings this week." THE RAILROADS. Mr. Odell, of the Northern Pacific road,has returned, Mr. Manvel, of the St. Paul & Manitoba, went up the road in company with Judd Rice. The St. Paul <& Manitoba road had seventy five emigrants out last night to points north of Sarnesville. W. 0. Alberger, formerly superintendent of the Hannibal & St. Jo, and now president of the San Francisco, San Jose & Southern road, is in St. Paul. ' A. D. Charlton, general western passenger agent of the Northern Pacific, with head quarters at Portland, was in town, on his way-from Chicago to Portland. Commissioner George Daniels, of tha Colo rado Railway Association, gives notice tha^it has been decided to let the rates named in the Colorado joint rate sheet No. 34. for April, stand until May 31, 1884. Information was received in the railroad offices yesterday that the offices of the freight and passenger departments of the Cleveland, Mt. Vernon & Delaware road had been re moved from Columbus, Ohio, to Akron, Ohio. General Superintendent Wright, of the Lake Shore road, has instructed conductors to pass free on the trains of this road to Cleveland, May 6 and 7, and from Cleveland, May 7 and 8, all stockholders who may de sire to attend the annual meeting of the Lake Shore company, upon exhibition of stock cer tificates. . Mr. Conrad Stautz, of the general freight office of the St. Paul & Manitoba road, has resigned his position and has taken up new headquarters at the corner of Fort and Ram sey streets, where he will devote his time to insurance airtl passage business. Mr. Stautz has been with the St. Paul & Manitoba for over two years past. John K. Hogan has been appointed North ern passenger agent of the Texas & St. Louis railway, with headquarters at No. 25 South Fourth street, St. Louis. Mr. Hogan's territory will cover all lines in Illinois, Michigan, and Indiana, excepting that por tion of Indiana south of the Baltimore and Ohio and east of the Cincinnati, Wabash & Michigan. The annual meeting of the stockholders of the Chicago, Burlington & Quincy road was not lively. About 70 per cent, of the stock was represented, most of which was voted by proxy. D. Goodwin, Jr., oc cupied the chair. All the old directors were re-elected, as follows: John M. Forbes, Sid ney Bartlett, Charles J. Paine. Edward W. Hooper, William Endicott, " Jr., and Edward Bangs, of Boston; T. Jefferson Coolidge, Manchester, Mass.; John N. A. Griswold, New York City; Wirt Dexter, Chicago; and C. E. Perkins, Burlington, la. The course pursued by the directors during the last year was approved and the purchase of new roads ratified. CLOTHING. A SOCIAL CHAT In a quiet corner often brings up the subject of clothing, and frequently the merchant tailor gets the credit of providing the suit that was bought ready-made at the Boston "One-Price" Cloth ing House, St. Paul. The tailor may have the credit, but we receive the money, and why not? Your friend has paid $45 or §50 for his suit, and you have one equally as good in every respect (fit included) for 820 or $25. We know of many instances like the one recorded above, which speaks volumes for the reputation of our clothing. A Spring Overcoat bought from us is a clear saving of from $5 to $15. We show over fifty" styles of Men's All-Wool suits at $8, $10, $12 and $15. Jerseys, and knockabout suits for boys. aaiRT waists, BLOUSES, FXTSNISHING HOODS. BOSTON "ONE-PRICE" CLOTH HOUSE, 1 Corner Third anil Robert streets, \ ST. PAUL. Our Hat Department is the largest in the state and we make prices about 20 per cent, below exclusive dealers. Our Spring and Summer Price List is now ready. . {'(</„■ ■: TROTTING STOCK .AUCTION. ; ; V ■"' :. Hh Adjoining the city limits of St. Paul, Minn., |££' ■ '-;•*'"■':• HV i ''>■ Com - x-W. Kittson, Chas. A. DeGrafl and KM George W. Sherwood, about 70 head of high- I , ) •'.■T-'-:™!!4 Trotters, consisting of young Stallions, «3§S *" . IJsSjIII TOM ■ • "I'"c8 > Brood Mares and Geldings, sired prln r*« ——— sAJB i')>ally by such noted stallions as Smuggler, Y olllnteer ' Peacemaker, George Wilkes, "^on i^"~: , , flj^^p¥^^^frnim' Biickwood, jr.,' Alexander, Baymont, . ' gag»gJ-rW mvi n yud ii an anPd OliS ' BelmoE''< Admiuistrator, Blue HaißW|BS*WißßßH^^^Eg^^^^' Bul1 ' anc! I{aycna\vood. '. iS^es^saeea^MßMl^^^^-'iV ■•^>*' 0I catalogue, to B. D, wo'od'mansee, St. Paul, Minn, MUSICAL INSTRUMENTS. aTvistt To Our Warerooms: . 148 and 150 East Third St., i./:: Will convince anyone in search of a Piano or an Organ, That we have the LARGEST and FINEST as sortment of FIRST-CLASS INSTRUMENTS in the West. The Matchless Steinway, The Elegant Ilaints, The Beautiful Behr Bros., and other PIANOS. The Mason & Hamlln, The Puckard Orchestral, and The Shoninger Cymbella ORGANS. 63?" Pianos at 810, $15 and $25 per month. gST Organs at $5 to $10 per month, and $11 per quarter. ■ ; Wo are offering unequ&led Inducements to buyers. MRS. M. O. THAYER, MUSIC DEALER, 418 Wabashaw street. PIANOS. ; Sohiuer, Guild, Bauer, Kranich &Bach, Steinway and Chickering. ORGANS ! Smith, American, New England and Sterling. Sole Agent for the celebrated SCHALL BANJOS. >'"':• Sheet Music sc, 10c, half price and regular. Instruments of all kinds at wholesale and retail. Strings a specialty. Mrs. TIIAYER having purchased Julius Zaho nyi's well selected stock, invites his friends and the public to call and secure the best bargains hi the city. no ForPianos&Organs For Easy and Best Terms, For Catalogues and west Fiices, For A,Reticles ami Territory. Address C. W. YOUNGMAN, 115 E. Seventh street, ST. PATH, f.I. AMUSEMENTS. / GRAND OPEHA HOUSE. Monday, Tuesday and Wednesday; lay 5, 0 and 7, and Wednesday Matinee. THE FAMOUS, ; . Mail Sura ' flair, OF NEW YORK. FIRST APPEARANCE, * FAMOUS ♦ STAR • COMPANY, * In the Charming Society Comedy-Drama YOUNG MRS. WMHROP! • WITH *' ■. 8. RECOGNIZED STAR ARTISTS. 8 > A Star Cast. * All the Orignal Scenery. MADISON AdaDyas, | E J Buckley YOUM onrtApp F.Reeves, WHGillette Tumn imHVimifn EnidLesli Edwn Arden Mitt. THEATER J-SWalters fa Colfax. WJNTHROP | Seats now on sale. Usual prices. ! —- — : OLYMPIC THEATER! MIGHT!;' TO-NIGHT! . HI HENETS CONSOLIDATED MINSTRELS! ■. ■ ■! ■ '• ! ■■'■'■'' ■'■ ■■', GREAT ARTISTS—3O Six Sterling Commedians, V Gorgeous Military Brass Band, . . The Famous Sextette, . Superb Combat Drill, Immense Olio of Specialties. Seats may be reserved at the box office daily (without extra charge.) • ' . , PUBLIC MEETING. CITIZENS-. MEETING .' A Mass Meeting of all Citizens who favor j - _. .:.) ' -... ■ ' ■'■'-'..■ LAW AND ORDER, ■'! ■• j '-.'.■ ■ • ;: IS HEREBY CALLED FOR Friday Evenin^May 2 At 8 o'clock, at the Market Hall. At wlich time and place will be made the report of the :•:■:; ,] i. , ' COMMITTEE OF THIRTY. CHINA, CROCKERY, &c. AT 8:1511, Sta& ATTEND THE SALE OP ill, AND AT NO. 129 E. TIM Street, (Between Robert and Jackson streets.) PLEASE NOTICE! We will Retire from the Wholesale and Retail Crockery and Glass ware business and will CLOSE OUT IN LOTS To Suit Purchasers, OUR ENTIRE STOCK, Aid udUlllLv! SALE DAILY PROM Ba.m,toßp.m. gUP Retail Sales FOR Cash Only! Wholesaie'purckases must be settled for at once, either by cash or bankable notes, not payable beyond 30 days from day of purchase. GOODS DELIVERED TO ANY PART OF THE CITY! CARDOZO & HEINEMANN, No. 129 East W Street, Between Robert and Jackson streets. • . SENSATIONAL SALE. •'•""'-■"'.'■'. ■>■ V"-.' v.'V ■'."■" ■'.-'.' "'.' ■'-■..'.''■■ "■.':,"'i:?'-'": *y'■'•'.; '.•""!■•'•- v'■'■- " '/'■--'r!-.'•■■ To determine the value of Newspaper advertis ing, no matter at what cost or loss to us, we shall make a Sensational Sale on Friday li Saturday, Mai 2 ant \ ■ ;■■... ■- ■ in order to ascertain which is the best Advertis ing Medium of our Daily MORNING PAPERS, issued in this city. K,e:m.e:mTDer I That none of the Bargains advertised below are obtainable, unless you present a copy of this ad vertisement. One copy of this advertisement entitles anyone person to but one of each of the Special Bargains advertised below: Lot 1. Lot 12. All-wool Jersey, the very best A fine line of Hamburg and Swiss t in the market, sold everywhere Embroideries and Laces, at a at $2 and $2.50 for $1.50 only, discount of M off from thereg at this sale only. ular price, at this sale only. Lot 2. Lot 13. JUOU Z. ■uuu -1-0- A handsome Braided Jersey, the Our entire line of Suits aDdWraps a nanasome ±$ramea jersey, tne fnv T.ariip>a a-nct pviiihtoti at a. Prmcess Ida, sold all over the xor -Ljaa-ies ana uniiaren, at a country at $3.50 to $4, for $2.50 j *«•■»*-» 11 •»■»■*- *»»■*> \/ «-pp-p«^-,-»-. •«,-,«.■.., country at «^ <so to *4 for £2 50 discount of M off from the regu only, at this sale only. iar price, at this sale only. Lot 3. Lot 14 . „ ... . , A large line of Parasols from 600 An extra fine quality imported to at a disc ount of fc off Jersey, very handsomely braid- from the r6gUlar price at *** ed in the most stylish way, sold sale only for no less than $4.50 to $5, for ««*y. $3 only at this sale. t ' + a Lot 15- JLjOTJ 4. The largest stock of hand painted _ v., . _ ' Fans from 25 cents to 85, at a Ladies' Shopping Bags, 10 differ- discount of a off from the regu ent styles* worth from $1 to lar price, at this sale only. $1.50. choice for 50 cents at this sale. <- _ - ■-,[,,,. Lot 16. Lot O. 14^ yards of 33-inch White Swiss and 9 yards of Embroidery, in A better grade of Ladies' Shop- two widths, narrow and wide to ping Bags worth $2, for $1 the match the whole Suit Pattern, choice at this sale. ' at only $8.50 worth from $12.50 to $15. Lot 6. Lot Ii A Ladies' Gossamer Circular of «*,„„,, -m-i,-*.,, a ~.«,, *•„„t « the finest Black and White A handsome White Apron for La- Check Goods, sold everywhere d3es^ colo? ed + b° Ifdelf der ' 1 a aron for $3, Only $1.50 at this sale. 50 cents each this sale, worth 50 cents each. XjOi} 1 j ' Lot 18. A ch?lf?o°o Cd va?n?itß?oOn£ An enormous line of Muslin Un -25 cents at tMs sill * ' derwear, for Ladies and Chil -25 cents at this sale. drenj the very best made goods to be found in this city, at a T -.J- Q discount of H off from the regu- JLjU v O. lar price at this sale only. A very fine Silk Brocaded Hand kerchief, very good value at T /-*{- ~i O $1.50 to $2. Only 75 cents at -LlUl _!_*_/• this sale, for the choice. 500 Gross of Buttons in all the newest colors, at a discount of _ j'/'^-v one-half from the regular price Lot 9 at this sale only* Mousquetaire Kid Gloves, worth T r\+ OH from 11.50 to $2; at 75 cents J-iOU <>\J. only, at this sale. Our entire line of Hosiery for La dies and Children, in cotton, -. 1 tr\ lisle thread and silk, % off from JjQj} X\J. tne regular price, at this sale An elegant line of Lace' Neck wear, Fichus, Ties, Collars and -r ■ c~\-i •. Sets of Collars and Cuffs to J_jO l3 /01. match, all very fine goods, and Gossamer Merino Underwear, worth from $2 to $0, at $1 for very fine quality, at a X off from 1 the choice at this sale. the regular price, at this sale only. Lot 11, T Q All Linen, warranted fast colors J-iOTi /»<<s. Bordered Ladies' Hem-stitched Corsets, Hoopskirts, Bustles, all Handkerchiefs, three for 50 at a discount of X off from the cents, worth 1. regular price, at this sale only. . TAKE NOTICE PLEASE That yon must present a copy of* this advertisement to obtain any of the above goods, as advertised at the extremely reduced rprice; also, that this is only for TWO DAYS. 7 201. 203. 205 East Seventh street. NO-. 123.