Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1884-01-26
The Grain Markets at Chicago Show a
Steady improvement.
MAY WHEAT TOUCHES 991I CENTS.
Corn and Provisions Also Stronger.
and Tending Upwards.
THE LIVE STOCK TRADE FIRM
Business on Wall Street Disturbed by
Sensational RumOrs.
CHICAGO.

of New York, wired to Schwartz 81 Dupee
tonight: ''The market opened with
materially in roved tone, retained that
character eImo al day Notwithstanding
the unfavorable action of the Chicago
trunk line meeting which, as it adjourned
sine die, was evidence that the vexed
questions in dispute we're not likely to be
settled a5 once. The announcement
of this fact caused general
raid on the market to be concerted. It's
full force struck the exchange just prior
to the close, and as it was desperate and
determined move, a lower range of prices
wes u natural result"
There was quite bull movement in
grain and provisions, both in New York
and Chicago. The short interests having
become burdensomely large, increased
foreign and domestic buying for long &C
count caused quite stampede amongst
the bears, whose efforts we're to even up
their contracts. During the process
lively upturn in prices took
place. Wheat was fairly we'll
sustained until the end of the days bust
hCbE. hlJOSuidNOlo 1dNOt NA4oGb hu0 PEO-
visions, but corn is generally regarded as
high enough for the present, considering
the increase Of the supply constantly pour
ing in at Chicago. The markets all
started higher. For the first time in sixty
days the shorts in the whe at pit were
somewhat alarmed. May wheat, which
closed at 9818c, and which yesterday
morning sold at $500, touched $3.50.
This was an advance for twenty four hours
of Sc Even Brega, one of the most de-
termined of wheat shorts declares that not
since 1878 has there been any demand
for our spring wheat, and who has been
preaching 80 cents as fair price for May
even Breeze was thrown into little
panic and was e buyers at the very top
figures" Poole, Kent g. Co. and j. B.
Hobbs d Co. were active buyers all morn
ing. The cables were higher. Beerbohm
quoted wheat and corn ''steady and better
tone,'' and the other cables said both
grains were IN better demand and higher.
The markets in New York were higher,
and advices from there say that a consid-
cradle quantity was taken for
export. An explanation, too,
from Mr.. Walker, the New York
statistician, made it appear that while he
made the decrease in visible supply of
wheat yesterday only $4,000 bushels, as
there were over 100000 bushels of wheat
lying IN vessels at New York already
cleared for Europe, but which had not left
up to Wednesday night, the decrease was
really over 100000 bushels.
The receipts were small this morning,
only 43 cars of wheat and 189 Of corn. Of
these latter 100 graded No.2.
Corn was relatively not as strong as
wheat, for it advanced only 15c, touching
59l4c. This was, however, because the pit
was dull. Provisions and wheat absorbed
attention.
Wheat for May opened at an advance
over last night of go. II advanced to
99l4c, and then as provisions were break
ing and as some buyers had turned sellers,
the prices declined. At l o'clock, how
ever, it closed at $3.50, the highest point
of the day. Corn surprised everybody.
1t was not as strong as the other articles
on the list, and yet everything was in its
favor. Receipts were much smaller than
anticipated. Those who are behind corn
are, however, not bulling it. They say
they do not wish its merits to become OBJ
scured by any such rapid advance as took
place during the manipulation of the JAN
uary clique. If the advance which they
expect comes gradually, it will, they say,
bring no increase in receipts. Consequent
iy, a gradual advance rather than great
squirt is what they want.
There were only $4,000 hogs at the
yards, and both packers and shippers were
bidding for them. 1t was no wonder, un-
der such circumstances, that prices ed
vanced. May pork went from $16.3O to
S16 So, and then lost nearly all the ad-
vane. Just before the close it recovered.
May lard fell from $9.40 down to $9.32L
and back to $93715 again. There is, said
packer, no great shortage in provisions.
There are more sellers, of course, all the
while, but the present advance is not due
to any squeeze. Hogs are high and going
higher. They have all season been SO high
that packers laid down their product at g
loss. Unless pork and meat go a deal
higher ali manufacturers will, at the end
of the season, be heavy losers. It is
marvellous but nevertheless true that all
packers, from the highest to
the littlest were deceived this year
on the hog crop. 1t has turned out
Bamller great deal than they expected.
Packers refusing to sell their product at
present prices; hence the advance. At the
O'Clock close May wheat was 9915; May
corn 59c; May pork SIG 2715; May lard
$9371a. Prices broke on the call. The
pressure had apparently been a little too
high TO be sustained, especially on wheat, and
it dropped from $3.50 to $500 for Nav
closing at $50: on the curb after call it was
selling at $3.50; corn broke to $3.50 for
May. May pork closed at SI6 .25: NAV
lard at $9321a.
CrittendeL & Harvey say: ''Wheat has
averaged stronger and higher to-day.
Gables were better, and fears of. Door
crop in California stimulates great deal
of local and outside buying, and sent
prices up fully 115c above Yesterdays
closing, 80 on heavy realizations by local
holders, and closing steady with rather a
confident feeling. We are believers in
wheat at prices now prevailing, and think
it but question of time when we shall SEE
much better prices, but woulG