Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-18
Corn and Oats Held at Higher Rates,
and Provisions Stronger.
MILWAUKEE CROWD IN CONTROL.
The New York Stock Market Brisk and
Prices Considerably Higher.
CHICAGO.
Especial Telegram to the Globe.

show marked advance on yesterdays
quotations. Wheat has been particularly
active and buoyant. Buying orders re-
ceived were unusually numerous and
started the advance. Then it was noticed
that the Milwaukee crowd were large
holders of wheat for May delivery, where
the trading conferred, which added to the
uneasiness of the shorts, who finally made
grand rush for cover. This influenced
buyers, and gave the market additional
strength. The longs helped on the move
ment, and between the two elements the
advance was both rapid and substantial.
Corn was at the mercy of the
clique which has hold of this market, and
the screws were turned without mercy.
The feverish feeling of wheat rather aided
their efforts, but the resistance from the
shorts was feeble any way. In the after
noon there was slight reaction, but the
decline was inconsiderable.
In the corn pit on the board trading was
active on speculative account, and fur
Their advance in prices was established. The
receipts were smaller and only small
percentage of the arrivals again inspected
No. 2. Market advices were favorable,
and under the generally strong feeling ex-
listing in the various markets shorts were
anxious to provide for their outstanding
contracts with the long interest aiding in
forcing prices as much as possible. JAN
uarary was advanced &c, February 10,
and May 14c above the highest prices
yesterday, which were reached on the call,
then fuctuated and finally closed 25sc
higher for January, 2sc higher for Febru-
airy and 11ac higher for May than the
closing figures on change yesterday. No.
was in good demand and sold at $3.50
Csc and closed at Csc. High mixed same
as No. 2. Rejected closed at 1870, new
mixed in active request and sold at 47@
4Sc and closed at 48c. New high mixed
nominal. January was fairly active and
offerings light, with sales at 63@654c and
closed at Csc bid. Early sales at 6318@
$500 selling to 63c, then raised
with some fluctuations to 65Ic
back to Csc, fuctuated and closed
as above mentioned. In the afternoon
there was as much activity manifested, but
prices on call were 35@19c easier, January
ending the day at 6415@64Ac. The re-
ceipts to-day were 208 cars, but only thir
ty-six graded No. 2. The ring brokers
were methodical in their work, bidding
prices up gradually and by that method
added to the Generalization of their vic
tins. Outside orders were more than
usually large, the country" having be-
come a bull, and all markets were quoted
very bullish. The short side has some
duced in the state assembly
to-day by Representative Billings,
of Madison county, stating that
No. 2 corn is classed by the
Chicago inspectors at a much lower grade,
causing loss and damage to purchasers
and shippers, and asking the warehouse
board to investigate. Mr.. Mitchell moved
10 refer it to the warehouse committee.
The motion was lost, and it was made a
special order for IL o'clock tomorrow.
This was largely quoted during the after
noon, and to its influence is to be ascribed
the halt in prices.
There was considerable excitement in
the wheat pit. The market was active
and the largest days trading was witnessed
to-day of any day for several days past.
Outside orders were numerous, and the
local speculative element also manifested
more desire to trade, occas1oned by the
more liberal fluctuations in prices
The receipts continue small, and the tone
of advices from other points is favorable
to holders. The shorts were anxious to
provide for their outstanding contracts,
and bought freely while the offerings were
only fair. Prices were advanced 2M to
2ssc above the closing figures on change
yesterday, but a large portion of this ad-
vance was established on the call yester-
day afternoon. Full outside prices were
not sustained, the market weakening
trife and closed within 1a@5sc of the
outside range reached. The shorts were
out in force and bought large blocks, par
ticularly of May wheat, which ap-
pears to be largely bought
up by spectators. On call prices
were slightly easier for the more deferred
futures, but stronger for January and Feb
ruary. Wheat is now we'll over a dollar
whenever contracted for delivery, this
month ending at $1@1.Oo15, next at s1.O1
@1.O4, and May at $1.O73s@1.o756. At
one time to-day this delivery brought
$1.O83a. Half million bushels were sold
on the call board alone. While very little
trading was done in January, winter was
in good request and 11a@21ac higher.
Spring was also quite lively at better
prices.
In -four there was little more DISPOSE
ton to purchase, and the feeling developed
was strong, influenced by the ad-
vancing tendency of wheat. Ex-
porters were on the market and showed
more desire to purchase, taking some lots
at prices which they had refused the past
day or two. Local jobbers also made a
number of purchases. Holders were firm
in their views, and millers in some instan-
ces order their flour held at higher prices.
This will probably result in lighter bust
ness for time at least.
Oats sold well up above previous prices
to-day. The cash market was almost life
less, owing to their being no offerings. A