Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-21
REVIEW OF THE PORK MARKET.
Probability Of Higher Rates, and Pack
ers Banking on Them.
EW YORK STOCKS ANIMATED.
Great Activity in Denver, st. Paul and
Western Union.
CHICAGO.
Especial Telegram to the Globe. |

| sSSn4llS ~ nave dOanUOn6Q Un6 u6IQ Tor a
time. Perhaps Baxter is trying the old
dodge of letting the market ease off and
then, when the other fellows haYe gained
little confidence, starting in again and
| gathering in new crop of shorts. Every
where else there, was life and activity.
Even barley looked up trife, land the pro-
vision market had more customers at bet
ter prices. Wheat made nice healthy
gain, and as for corn the bears who were
SO brave yesterday abandoned the field
and led precipitately, leaving prices at the
mercy of the clique. Yesterday large
quantities of corn were unloaded, but it
was noticeable that most of the trading
was between parties in the deal. For in
| stance, Lindblom, would offer a lot of
10000 January, and one of Handy's
| brokers would take it. Then another big
lot would go the same way at trife lower
rate. This started rumors again that
there was a split in the clique and that the
New Workers were unloading. This
story was industriously circulated
and found some believers. Dozens of the
| timid tailers got scared and unloaded be-
fore prices became any lower. All they
| dropped was quietly picked up by the
bulls, who made no effort whatever to
| check the weakness. Some of the hopeful
bears were even expressing sympathy for
the poor bulls whose plans were being so
badly disarranged by reason of internecine
| quarrels, but this morning when the clique
put on the brakes and began to turn the
| screw again, the bears sang an
other song. The pretty little fable
that went the rounds yesterday that 700
cars Of corn had been shipped from st.
| Louis, and every bushel of it had been
carefully examined and warranted to grade
No. 2, was exploded and no longer filed
! the hearts of the shorts with hope. They
| became panic stricken and worse de-
moralized than e-er. The longs had it in
| their power to put prices of January corn
where they wanted, and only stopped when
they did because they got tired. At
times there was great excitement in the
| pit, and it is rumored this after
noon that the pinch was too
great for some of the actives
to stand, and that Monday will develop
Two or three failures. The worst hurt in
this deal are, as before stated, st. Louis
parties, and they are moving heaven and
| earth to send in corn to deliver on con-
tracts for this month in quantities suffi-
Gent to cause break. Meanwhile they
are working terrible cutlery against what
they claim is a discrimination in inspec-
ton. j. Z. Robinson, member of the
st. Louis exchange, who has returned from
trip through Nebraska and Kansas, says
there Is any amount of corn in
those states, the condition of which
is good and the holders ready
to send it to the market. They are afraid
to send this corn to Chicago, as they are
| fearful of the inspection in that market
with its present high standard and rigid
grading Of corn. Hence Mr.. Robinson be-
lieyes that most of this Kansas and Ne
braska corn viii come to st. Louis.
On the board the corn pit to-day was
filed with excited traders. From the open
ing an active demand existed, and large
business was transacted. There was con-
siderable excitement during the Sc ssion,
and prices ruled materially higher.
Spectators bought freely, ard there
was also great demand from
shippers. The receipts were a little
larger, brit the proportion inspecting No.
is still small. Market advices are favor
able. Prices advanced 424c for January,
PIC for February and 115c for May
above the closing figures on change yes
terday, reacted a trife and finally closed
424c higher for January, 17sc for Febru-
airy, and &c for May than the closing
figures yesterday. No. corn was in good
demand, and car lots sold at &c to 6915c. |
and closed at 694c. Round lots the same |
as January. Rejected was in good demand
and new mixed actually called for. The |
CLIQUE had no opposition, and bid January
up from Csc without difficulty to 7Oc |
The offerings were very light and demand /
good, with sales at 65@694c, with
rumored sale at zoe and closed at about |
692ic. The advance from inside prices |
was rapid. The shorts were large buy
ers.
In the wheat pit trading was also on an
active scale, and a strong feeling existed |
during most of the session. The receipts
continue small, and market advices are of
favorable tenor for holders. The market
opened shade stronger than the closing
figures on change yesterday, ruled steady
and advanced gradually, then quite rapidly !
until an improvement of 1880 was es-
tablished, reacted a trife and finally closed
within Is q &c of the outside range reach
ed. The last quotations were about &c
higher than yesterday on January, Mc on
February, sc on March. 35c on April, &c
on May. There was good active short
and speculative demand. Winter and
spring are both frmer.
Flour was holding up well, and
there were quite a ready demand
for nearly all qualities, with
the stocks bright and buyers looking about
quite sharp for the better qualities. The
home trade have bought sparingly for the
week, not being willing to pay the big ad /
vance asked, while shipping qualities have
sold readily and the market kept clear of
stock.
Oats were firm and there was about |