Salt Lake Tribune | 1900-05-04 | Page 11 | Slump in Corn Market

1 SLU P1icoRN AKET Broke With Great Rapidity Shortly After Opening LIQUIDATION WAS GENERAL I I It Was Led by Two of the Leaders in tho Recent Bull Movement Tho Decline Was Checked at 3434 Thero Being a Fair Demand After I 1 Concession of Over Ono Cent and a Slight Rally Followed Wheat Was Dull and Easy Oats Unexpectedly jFirm SILVER Now York 1 Sun Francisco COc London GOlfcc 270lGd LEAD Now York exchange I New York brokers COPPER New York exchange i 51700 New York brokers 51700172J I Silver and Drafts I Ncv York May 2Silver certificates I COifr3C05ie Bur silver COe I Mexican dollars 17Vie I I Sim Francisco Nay 3 1Silvcr bars GOJc Mexican dollars ISV MOc Drafts Sight 12 telegraph 13 Money and Exchange New York May 3 Closo Money on I call easy at 1fft2i petS cent last loan IVi per cent prlnio mercantile paper ISp Jty J per cent Sterling exchange firmer with actual InifllncHs In bunkers lillls ut for dc immd and at 54 Ml for CO days posted rates IK3fi IS5 ami SISOJM S3 fc com mercial bills J1Vii 18 P4 New York Metals New York May 3In sympathy with unsatisfactory cables the local market for metals as a whole was generally enslnr Tin cased off about 2 < polntn with a slow trade and the drop of 16s In that metal In London The closo wnj easy with prices on the basis of 2375 bid and SSOOO asked Pig Iron warrants wero voak and nominal Northern No 1 fowl dry WLH uoled it 2 1005 23 CO Lake cop per ruli d dull and unchanged Loud va also dull and unchanged on the basis of SI < T7A hid mid 72Vi asked Speller however how-ever was a nliadp firmer on a good ex port demand closing firm In tone and UVe higher at 52te bid and JI55 asked The brokers price for load was fllo and for copper J170CXQ 172j San Francisco Mining Stocks San Francisco May 3The official clo lug lLiOtfltlOnS for mInIng stocks tothLy vero ns follows Alta Alpha Con 02 inches os liexican Behchir clilental OS Il B 17 Ophiir Iiuihion orman 20 Cnloionla 124 Potosi 24 Chiahletigo age Ciiolhar 21 Seg l3elchier 02 Coifldeijco SO Sierra Nov C Vi f5 Shivir iiiii 15 Crostl Point 10 Stuniinrd ZGO C 20 Union Con 21 11 N Uihi Con 53 Justice 02 Yellow JaccoL 20 NEW YORIC MiNlG STOCKS Am S c R 33S7i4 hiohlar 17 preferreil Ss12 Ontario S25 ro n lnlnt OpiiIr C C Vu 115 PlmOLithi leadwood rs Quicksilver C c ir preferred 750 iT N Sierra Ne 5 Ilornestilku h0fl SLiiidard 3E0 1Iorii ShIver I2 1riioii Con iron Silver 5 Vol Jnclzet 17 Icxhcaii z lJOslO MINING STOCKS Alventuro 4 475 A M Co Am Coiper 25 Osceoha Atlantic 2375 Parrot 45jrj 13 M 2M1 Quhncy 13 13 GSMO S Cop 500 C H75OO05300 iiiniia LlO Centennial 1750 olverlncs 4010 Franklin 1125 Utah 23C4 llusnboldt 5O ITUIBUNE SPECIAL Boston May 3 Copper Blocks have been dull and weak all day with very little business doing The president of ono of tho largest lake mines staled today that copper was 17c bid t rd thought ft was possible to sell all the luko metal one de sired at this price JJornblower Weeks brokers 53 State street Boston furnish the following quotations Sales High Low Close Amalgamated ISO 5000 JSSW 5300 Utnglmm llCO 1050 CochlU CO llCO Cent Kureka 21 CO 23CO ltah 123 2S2T 2SOO 500 United States 92T S75 White Knob 1SOO Curb Boston S3WICO Navaho SG000 > 700 Grain and Provisions ChIcago 3Iay 2TTho corn insirket oRin the session weak bccnusa of lower cables frcor country offerings and a slack de mand Liverpool closed Sl l4e down at 10SiOvir and afterward touched 3Dc while nobody wan looking proceeded to break with great rapidity The slump Was due to heavy general liquidation led bv two of tho leaders In the recent bull movement The decline was checker at 39i hero being a fair demand after the concession of over a conl and i lltiln rally followed bet the close was weak > lLUK July Ic under yesterday at lOc Whoat was dull and easy Corn was tIle dominant Influence while easy cables and the favorable weather wero contrll tory factors The speculative trade was light l but a fair rash business W m bushels was accomplished New York reported thirtytwo loads taken for ex port July ojunotI 3c under yesterday nt i 7ti7c and oii a lIttle buying asceritjed to GT167c Tho wings of the market wore heavy with tIm corn weakness and failed to hold even that bmall elevation and the market reacted to G6c The close was July ic lower at T7u1c JulvMay easy spread narrowed to ic elevator people Uklnq May at that difference The oats market was unrxpoctcdly firm in view of the corn weakness The mar ket was sutalnc by a good shipping PPe busmen 6fflvfcowS > July closed c lnwn Provisions opened steady but sufTcrrrt on8h r TtOIH ln synhlathy With corn and on some liquidations but recovorcd it on buying bv packers nail closed steady July pork closed 7c down lard zkc hlchor HANGU OF THE LEADiNG FUTURES Articles Open High tow OIcso AVheatJNo 2W May A 6S1A fiSVi S5i GT3 I July C7 C76 C 5 C71 Corn No 2 My 33 30Vt 33 SOI July 10 j 40 30 i 40 Sebtcmbor 41 4Fji 1W6 1 401 Oats No 2 Mtiy S24i 23 2Ni 22 July 23J4 2Vj 23J 231 Sootcmber 22i 23 22H 22J MMB Pork SDiy 110714 1205 llJG 1200 July 1213 1220 11 M 1210 Lrd Mny 60A OD3 GS2 fh July C07U 7021A C2 3 7 Sooteraber C07 70215 6S7 67L Short Rlb May C70 C70 fi70 G7rt July 075 GS2MA Cft5 CSO I September fl72Va C77 CC5 Gi7 I CASH QUOTATIONO Cnsl quotations were as follows Flour eRs1 NO 5 j445c No 2 rod No 2 corn 29494c No 2 yellow 351jC No 2 01t5 ct24c No 2 whIte YAt27c S whIti i2c geo1 feeding bar ly fle faIr to choice malting 4c No I nax need 5176 No 1 UK North 3fl I I western iv J17S prima timothy Peed 1210 I j fll pork per bsrrl tl51i0 lard per l pounds 8t4jiOO short ribs sldo lniio WOJ0SO dry salted tclrnulders lxxedt tPtj6tc phori clear idotc boxed 72i7 > whIsky basis of high w1ne a sugars cut loaf tO0 Eran I utat4 clover contract grade 7 00 I RECEII TS AND SJITPAfKNTS i rtiolsc ItecIpts Flotir Lsrrel ShlipIs SI lt bu3hels jG 131 to arn busltc1s t1 1ll UC11 lt blj 5 5J Brr J a hiuhl zfl 6Ed on tho produce cschanRo today the I I butter market firm creamery dairy 15J1Gc cheese steady 1le eggs itctdyr fresh 1Oc Coast Grain f Son Francisco May 2 Whrnt easy December De-cember 1025c barley no sales Stocks and Bonds New York Mny 3The general nubile continues to hold aloof from any share In business on the stock exchange and the movement of prices reflects only tho operations of the small roomtraders Those professional operators for the most part close up their contracts before the day bus expired thus rectifying to a large extent the prlco movement which has resulted from the original contract other riiiernlor of this clays art In the habit of carrying their contracts over ono clay The result of these operations which are known In stock exchange par lanco as trading Jackknives la n seesaw see-saw mjrket prices moving one way on one day and the contrary on the next day as tha sales or purchases of the one day arc affected by thin contrary opera Lions on tho next Slight gains aro the rule today principally because losses wore the rule yesterday Storlw which from special cau oa showed strength yesterday showed weakness weak-ness today Sugar movwl l slightly below yesterdays level and wits the header of the market The steel stocks wore Inclined In-clined to Jumlcn after yesterdays sharp hralc the tendency being assisted bv re ports of the opening of seam of tho steel mlls Tho coalers wero raided by the bears on resolution of the anthroclto operators to support the proposed new coal road The Htutnnicrls of weekly earnings by St Paul and Hocking Valley and the sot tlemenl of tIm New York Centrals threatened threat-ened trouble with laborers encouraged traders to take the bull side Tho failure of ll > o predicted action on the dividend of the Missouri Pacific caused a sharp break from the early broafc In that stock Tho local tractions recovered from xesiterdays weakness The extreme movement In cither direc I tion were not maintained and the closing was dull and Irregular at small net clear 1 ings after the market had sunk to stag nation many limes during the session The money market continued vary easy although the prospect Is for n weak bank j I return on Saturday There wns more doing cam pam tlvrly In bonds than In stocks and prices were weak Total sales par value 1525630 United Stitos refunding 2s when Issued new is and 5s advanced Yi hi Ihe bid price BOND IIST U S 2s rflfl34 D U G Is IT S 2s rcg l N Pac 3s U S ns reg 100 N Pac 4s lflY1 U S 3n coup 100 Or Nay Isls lOS U S n la rcK1 Or Nay 4s 102 17 S n Is cosip53 O S I Gs 12S U S old Is reg i l i O S L con 5sl5 IT S old Is couhi1I43 n G AV Isls 115WM U S 5s rcg m < A U Pac 4s 105 V S 5s coup 112U C S Is D rt G IsIs 10l So Pac 4s 53 CLOSING STOCKS Railroads rUchlson 25y r8bnqht preferred 70 preferred 223 11O WIE itii Pnc 2ntj pfd 27r Can So 51 Wis Cent 17 lies 0 29 ihiiro v 107 i c Express cern 2 B panIcs C I I 2 hi 1v prcforlcl r Express 153 C F III loC lo-C V 12 ells Fargo 121 C it I PiCiS 2d1scohiiieois Cohn So 1 Preferred 1st fd 12 nt Inlting 3L Cud hfd j ltP preferre1 i 22 1eI ilud 114 Am S Ft 1 r hreferred 5815 1 It c IS mSpIris 2 hreferrcl C preferred 17 Erlu 12 rii Steel Hoop 1st lafd I prcferrei 72 fit Nor pf1 155 in S wr ilook Coal lf preferred 774 liork Yni 2S in Tin Pluto 26 Ill Cent 113 preferred Iowa Cent 17 ni Tobacco 103 Preferred 50 preferred 110 K C P C 17 nn Id Co 45 1 15 V io II rt r Preferred 93 c F I Lake Shore 2i0 on Tobacco 1 N SI Iareferre1 Man I 53 ed Steel Met St It 155 Preferred 1J8f Ccitt Ill eii Electric Minn SI L1 li hoc oso Sugar oreforred thi Preferred Io Ilc SSt intl Paper 0 11 Preferred Cl M K r Jl LJICICdI 53fl 1referre1 1 Nat Biscuit 3l4 I i N J Ccitt 120 iiroierrl SO N Y Cent l3Ir Nat Lend 2Ii4 i N W a7 proforrel lreferred 79 Nat Steel 32 N Pac 57 ireferrod SS preforred 5i N i Air llrnlce125 0 V 21 N American 0 It N I 12 Pae Coast IS ireferrctl 70 1st pfd 53 Iennsyivaiila 133 lni prd fltstdiiig 1 PLLC litil 1st id Si Peoples Gas 103 2iti lfd 30 P Steel Car Ii n G IV 50 preferred tueferred 86 Pul Palaco 184 St l S F 1O S fl T 1st tfd Sugar 1l4 2ni1 pfd 34 lreferred 111 1YC1 Preferred 2 U Ieatner St Paul 118 prelerred 7u preferred 172 U S Rubber St P urefcrred So Pnc 35 Union S1 So Fly 13 it I 1c S Co preferred 5c pref rred Tex Pac 1S PC C St La 52 UPac 5 Butter and Eggs New York May 3Butter receipts 4773 packages ilrm Western creamery 16fr > 20c factory lSTulhi6c Eggs receipts S730 packages slorago AVestnrn 121c at mark Wc regular paclclncr Foreign Market New York May Commercial Adver tisers London financial cablegram nays The markets hero began dull today thiii hardened slightly on a canard that Lord Roberts had captured 50CO Boers and sixteen guns The market relapsed on publication of the tamo actual dispatch and the chose was Irregular Investment securities wero weak on tho disappoint tag bank returns Americans opened de pressed went under parity but rallied above thom on a dispatch announcing that the Now York Central slrlko was settled It la hoped that thin will be a forerunner of similar aottlomcnts elsewhere Prices weakened on complete absence of con firmation of the first report New York supported slightly but In the street prices were reactionary and featureless Anacondas were heavy being adjusted to parity which now regulates the price Purls supported Tlnlos Money was tight on the call for 10 per cent of Ito wur loan although this had been prepared for fall money was higher early but closed at 4 j er cent The bunk did a moderate bush noys In discounts and received the bulk of conuldurnhlo loans due No gold Is ex peeled from America The sliver market apparently miscal culated the American position New York Is now holding for 27d while forced sales were expected Live Stock CHICAGO Chicago May riCattlc Receipts COOO steers active and strong butchers stuck steady natives best on salo today ono carload al J3CO good to prime steers 47r ioiO poor to medium HlOftltC selected I feeders choice stonily JI2ifiC00 mixed I slockers steady to slow SIC03M10 cow 1 53Otfr4CO hollers tt25ltf00 canners 225 I 2Si bulls steady J2754i ISO calvt strong l25ftfi20 Texnns best on sale to day 3 carloads al JIS3 Texas fed steers i strong ICOrff525 Texas bulls strong 325 J < ll2i5 I TIoRM Receipts today ZO > loft over I JOOO average shade lower closing strong active lop 5MX5 mixed and butcher J010fiSlA Rood to cholrr honvy fTilV rSTi rough heavy KUVfjrI5 light 50W 5W bulk of nalcw < S1MT627 > Sheep R calntt 1SOOO nhcep strong lo fie higher lambs active I5c higher good to choice wethers fr 25ft5r i fair to choice mixed HSOf5C5 Vesern t sheep SKtfi 5 05 yenrllngs JoUWfOO native Iamb 5509700 Western lambs 56CQ < v90 KANSAS CITY Kaneak City May 3 Cattle Rocolpls iCOO market steady to strong native steers fSaHrilB TexnM steers I2tjjIGA Texas cows J300ffIXi native cows and holforw r C4K stockers and feeders W00640 bulls UK4J4W Hogs Receipt 000 nmrket 8tt > nrly to shade lower bulk of mile i305 C20 heavy J5OOJ7527Vt p olcni S602 4ft517H mixed MCSWS1214 lIght 313tjZ507 yorkers york-ers JoC < Wj 07Ht pigs W OfWf < Sheep R < cclnts AiOO mftrkct steady lnmbf JSCOSCO muttons flCOCfG OMAHA Omaha May X CHltlc Receipts 1600 innrket 5e hlRhor flTtYt beef iiicvrx 400 4525 cow and heifers J330tf470 CHII nerx J22S f3V mocker nnd feeders 370 < t6l5 calves 33citi4L7Y bulls stags etc Hog Rocftlpts COM market shade lower low-er heavy 5i7VrfX > mixed 515 17Vi light ttOOtfS17U pIgs M70 600 bulk of wl s 5ThqTI17L Sh op Receipts rW mnrkpt strong car1lng Jv JiCJ WcJl < rn muttons 007io40 stockers flMUy15 lambs 600 OK DENVER Denver May 3 Cattle Receipt s iV market steady beef steers jl20fjlH cows 12Ti < iNW feeders frelgjbt paid to river JxOMi5 IK stockers freight paid I 37u i 110 bulls stags etc 200iit5 Hogs Kccclpts 4to market unchanged St Louis Wool Market St Louis May 3Wool unsettled Territory Ter-ritory and Western medium 17r20c fine 13 < rl7c coirse 14 il7cx