Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-07
Advancing a Half Cent for January
Delivery.
HE STOCK MARKET BEARISH.
Prices at a Stand Still in Wall Street,
With Little Doing.
CHICAGO.
Especial Telegram to the Globe. |

IL CH6 dSCSAudnCy JO-OaJ' AhO11 C1ol1l1o oiuO
boom would closely follow the holidays ap-
pears to be realizing. A stronger and more
hopeful feeling is prevailing all around.
Wheat is steadily approaching and corn is
on the jump. How long it can sustain its
present course, however, is debatable
question. Provisions are selling a trifie
better this evening, and even flour, which
has long been dead market, is waking up
and promising an advance. Corn is now
higher than it has been for some time.
The impression gains that there will be a
big squeeze before the month closes and
the short interest, which is very large, is
fastening to cover its trades
before prices are advanced too
far. During the holidays, the depression
and the general unloading, an unusually
large line of shorts was induced, and this,
together with the abolition of the corner
rule, gave splendid opportunity for a
corner. There is an impression in some
quarters that the panic is greatly exagger-
ated, and that nothing more serious than a
big scalp is in progress, but the general
and stand a little loss now than to hold on
and run the chances of much larger one
later on.
fair speculative business was transact
ed in wheat to-day. This market was
active and stronger, but somewhat unset
tied, fuctuating only 5sc, and at the close
January was about 4 C higher than it closed
at 1 o'clock yesterday, February 1sc higher,
March &c higher, and May 14c higher
Early sales we're at trihing advance on
yesterdays closing. Prices ruled firm
under brisk demand, and sold up 38@1ac,
but afterwards weakened when the buying
orders were filled and fell off &c, but near
the close again frmed up, selling 3sc
higher, and closing firm. Spring was in
fair request and firm. Winter was active
ly called for and higher.
Flour was more active, and the feeling
stronger. Exporters purchased in the
neighborhood of 10000 sacks of the vari-
GUS grades, portion of which was bought
by Chicago brokers in neighboring mar
kets. Foreign advices were more favora-
BILE and indicative of better feeling, which
accounts for the improved movement. While
prices here are not quotably higher all
round, sellers found more ready sale at
former asking prices and dealers are more
encouraged.
The corn market was again active on
the speculative account and good ship
ping business was transacted in the lower
grades. The feeling was again steadier
and prices ruled higher all round, particu-
larly for No. 2 for January delivery and
cash. The receipts were fair, but the
amount inspecting No. 2 was again small
and shorts were anxious to provide for
their outstanding contracts. The market
excepting for May delivery opened 4cG
nc higher than the closing figures on the
card yesterday. ruled firm, ad-
vancing an additional 1c for
January and 5000 for February,
then weakened off again, fuctuated and
closed PIC higher for January; and 11sc
higher for February than the closing fig
ures on change yesterday. May was firm
and closed about ~ higher than yester-
day, No. 2 was in good demand and sold
at 535s@535sc, later rallied to 54Ac, and
car lots closed at about 5414c. High mixed
ranged the same as No. 2. Rejected first
storage receipts sold at 42115c, the outside
price for special location, and closed at
1872 @44c for January. A good demand
again existed. The offerings fair with sales
at 531s654c, closing at $3.50 bid.
Oats we're more active and ruled higher
than yesterday for cash and all futures.
There was a light offering of cash
oats and more buyers were noticed for the
futures. Sample lots were steady and were
all taken.
Barley continues dull and shows no
change. Almost nothing was done to-day.
Rye, however, was in better request, and
the futures sold higher and cash held yes
terdays prices. A fair business was re-
ported in the market for hog products,
but the feeling was somewhat unsettled
Early in the day there was fair inquiry
on speculative account and prices were
slightly advanced, and later in the day the
offerings were considerably increased and
prices declined materially on all of the
leading articles.Shipping demand fairlyact-
i've, but orders chiefly for small quantities.
Foreign advices indicated little change
and the Eastern markets we're compare
lively steady. The receipts of produce
we're moderate and the shipments of all
kinds quite liberal and widely distributed.
The offerings of mess pork were quite free
and prices receeded 15@20c on the whole
range, but rallied again and closed steady
and quiet. Lard was fairly active and lib
orally offered, ruling weak and easier
early, but recovering with pork. The
first week of the new year has been a COM
parstively quiet one in provision circles,
and prices have generally tended
to lower range, small decline be-
ing established, though there was
some reaction from the inside
figures reached. There has been gradual
widening of carrying charges, SO that now
there is some inducement for capital to
seek investment. The premiums current,
especially for those who own their ware
houses, paying handsomely, and consid-
enable proportion of the weeks trading
was in changing over options from month
~: t, -.