Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1884-01-25
PORK AND CATTLE SELL HIGHER
CHICAGO.
[speoial TeIegrgm to the Globe. ]

lard. The cia.'e Of the stock market in
New York yesterday was anything but re-
assuring, and many thought that the pro-
ducs markets would open weak this morn
ing, bat the outcome tonight On the curb
are the following quotations for
May, as compared with last
night: Wheaf, $500 TO 9816c;
corn, 5735 to $500; pork, $15.271l TO SIG
15; lard 1915 to $9321ac; ribs $500 to
$8,40. AS expected provisions opened
weak, and pork declined 5@1Oo. About
the middle of the session reports from the
stock yards showed continued dropping
in the receipts OF hogs and an increase in
their price, and leading operators began
to be active. The movements Of Charley
Singer were very noticeable, and brokers
of packing houses appeared to be busy
with their memorandums and in receiving
messages from outside. The
ball commenced, and under very
judicious manipulating even some Of the
beariest bears began to smell danger, and
commenced to cover. Mess pork for May
was advanced under very heavy buying to
P4O t1ul4 NlOSCO FSIY l4LLn oL " SIODhs d1LGE
very heavy transactions. On the o'clock
call there was great excitement, and $4,000
barrels of pork, 13, 500 tierces Of lard and
100000 pounds of ribs were traded, while
28,750 barrels of May pork went at $16@
1910. Singer initiated the fun by Offering
$16.05 for 5000 barrels of May pork, and
almost Immediately the price jumped to
$1610. Deals we're made in 1000 to 5000
barrels, and interest continued On the curb,
where pork was 21ac higher.
For the first time during this crop ship
ments of wheat exceeded receipts at this
point, and this fact, added to the report of
Mr.. Walker showing reduction of 49,
900 bushels in the visible supply, ought
perhaps to receive more extended notice,
because it commences, in the opinion of
the bulls, reduction of stocks which,
though gradual, must inevitably end in
higher prices. The strength in wheat was
increased later in the day by the usual cor
rection of Mr.. Walkers figures. This was
to the effect that the eminet bungler at
statistics had forgotten to deduct some
half millions from the stock in New York,
which had been shipped out,
and hence counted as afoat. This would
mean the decrease in the visible
supply about 100000 bushels. All this,
however, while it helped the movement
towards higher prices, was only of second
ary importance to day. The provisions
crowd had started to bull the market all
around, aud the bears were thoroughly
scared. They rushed in to corver, and
millions of bushels changed hands. Mil
mine, Bodman & Co. took the lead, buying
over million bushels of May at
9634c. At 10 o'clock May,
wheat closed at 9715c BID, and
at one o'clock the price was 9758@97Ic.
On call about 100000 bushels charged
hands at 97%@981Sc. Robart LindbIom,
the Warrens, 'FDeaoon" Hobbs, aud j. Ii.
Lester & Co., bought in 100000 basheI
lots at 98@9815c, and bid for much more
than they could get. Wheat was little
easier on the curb, but its friends we're
predicting further advances on the NOR
row.
SEatistican Walker reported an increase
in the visible supply of cora of over 900,-
900 bushels. This was great surprise, and
produced temporary depression. It
was only momentary, however, for
the provision crowd in their might came in
and boosted corn out of the hole. Corn
shared with wheat and provisions, and
scored further advance on the cal, where,
out of $4,000 bushels, traded, 100000
bushels we're May, at 5978@58Ac,
The able statiscian employed by A. NJ.
Wright & Co., has entered the lists as a
eorrector of Mr.. Walker, and that firm
publish his figures with their comments as
follows
A M. Wright & Co. say: "It will be
seen by the tables given below that stocks
in this country and Europe largely exceed
the same last year. Ths general trade
situation is also unfavorable for high
priced bread stuffs and other food pro-
ducts. For the present, however, these
influences are without weight with those
who ara manipulating the market with
view to unloading on the lambs, and the
creduioue public may prepare TO
hear all sorts of rumors regarding de-
oreasing stocks, drouth in California, and
predictions OF famine, as those who ma
nipulete prices will not scruple to circu-
late any reports, no matter how ground
less, and they serve their purpose The
following shows the supply Of wheat and
corn at leading points of accommodations
destined for Great Britain and continental
Europe on the dates named:
Wheat bu. Corn bu.
United States, east of
Rochester -. ss,l82,OOO l,l45,OoO
Jan IA, 1884, total
bushels .......... 5s,9H,OCo 12,uo,ooo
Afoat on ocean. ..-,.... l9,O80,00O 100000
Jan l, 1888 .......... 42,348,00O lI,1O9,0O0