Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-21
The Bulls Finally Score Victory With
Higher Figures.
GAIN OF FOUR CENTS THIS WEEK.
Other Cereals Steady but Transactions
Extremely Limited.
HOG PRODUCTS SLIGHTLY HIGHER
A Spiritless Day Among the Specula-
tors Of Wall Street.
CHICAGO.
Ispecial Telegram to the Globe. I

citing day on change. The bears worked
themselves into perfect panic and bought
to cover at any price. Some of the corn
men who had sold short when the market
was up could afford this, and having
large profit sure in any event, did not hes
itate to bid up to close out their deals.
This had marked effect on prices. and
later the news of the failure of well
known firm heavily short, and rumors that
others were hard pressed gave new i'm
petus to the boom.
The wheat market was fairly active and
generally stronger, though trihe irregu-
lar, but at the close month was &c higher
than it closed at o'clock yesterday, Janu-
airy &c higher, February &c higher
and May 1ac higher. The
business was largely local, there being but
few outside orders on the market, and the
firmness was caused chiefly by sympathy
with the better feeling in corn. On call
the activity moderated, and prices ranged
somewhat easier. Winter and spring both
showed an improvement, and were frmer
and higher.
Flour was more than usually quiet, and
quite dull feeling was noticeable for the
day, with the home trade hardly buying
at all, and outside orders have been with
drawn or the buying limits heavily re-
duced. Prices were weak for all qualities
and shaded somewhat when sales could be
made.
In the corn pit a very fair business
oko1 ~; aAp lot
count, with fair shipping inquiry for
the lower grades. The feeling developed
was unsettled and prices averaged higher,
with the advance most marked for the
December and year future. The receipts
were little smaller and the weather again
soft and mild, which was unfavorable for
the grading of corn and shorts were anx-
ious to provide for their outstanding con-
tracts. December and year opened strong
or, prices about go and closed at &c.
higher than yesterday. May ruled steady
during most of the season and varied
but slightly. No. 2 was in
good request. December and year
was in good request and sold at 52a4@
5224c and possible sale as low $3.50 and
closed at $3.50 bid, opened unsettled with
sales at $3.50 and 53c in different parts
of the crowd and possible sale at 1890,
but quickly sold to 534c then back to
522lc up to 533s. A few trades at $3.50
off to 53c, up to 1914 q 5311ac, fuctuated
and closed as above mentioned. The anx-
iety of the short element to buy advanced
with the day, and the afternoon was the
most exciting portion of the day. On the call
board there was feverish feeling, the &C
tive request advancing and stifening
prices. Over 1000. 900 bushels were there
reported sold, something more than
half the amount being for January
delivery, that option now dividing
interest with December. This years deliv-
cry pushed up to SAG $3.50, and January
to 514@513sc. Curb trading was also
considerable. A strong bull clique has
been formed to force prices and make
every possible advantage out of the demon
alization of the bears. The trouble with
large proportion of the original bears is
that which has carried Randall, Bell & Co.,
under. Heavily long at the start, they
were compelled to unload at large losses
at or near the bottom, and then many of
them turned around and took gamblers
chance of selling short to try to retrieve
part of their loss. The tide turned, aid
they were whipsawed, cut both ways and
used up. The advance in year tonight
over Monday is &C.
The little oats corner promises a bril-
liant success. The month is nearing a
close, and so far there is no sign of
break. A granger crowd engineered by a
couple of local operators,-the same in
fact which made a neat profit in this
market last months given the credit
for the operation. The demand for cash
oats both on local and speculative account
was quite active, and the receipts, which
were quite liberal, found ready sale. A
good demand for year also existed from
shorts, and 124c advance over yesterdays
closing was established and we'll main
tanned. The deferred futures sympathized
with this improvement, and we're
also better. Cash sales of No. 2
were at 374@3sTc, which
was 1@14c advance. On call prices held
cJoduy, O0CouO0I CAOSluS db OJAC duU
January at 1890.
Rye is firm and somewhat frmer, more
particularly for cash.
Barley dull and neglected.
The market for hog products. was mod
erately active to-day, but the feeling was
somewhat unsettled. Early in the day,
prices ruled easier on all the trading des-
criptions with rather light trading, but
during the latter part of the session
stronger feeling was developed, and prices
were slightly advanced. Shipping de-
mand moderately active, but the unfavor-
able weather interferes somewhat with the
movement of some descriptions. The re-
ceipts of product were liberal and the
shipments of all kinds were unusually
heavy. Foreign advices indicate declining
scale of prices in that quarter, and bacon
was quoted 1@1s Sd lower. Eastern
markets exhibited very little change. The
inquiry for mess pork was moderate, and
the Offering was fair. The prices ruled
2TM sc lower early in the day, but rallied
again 1Om 15c, and closed comparatively