St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-02-12


in trade this morning of bulls. The shorts
had meditated over Sunday upon the heavy
| purchases made by strong parties On Satur
day, and when arguments above cited were
denied, they were speedily connected and
commenced to change their attitude. Re
ports from the New York stock markets in
| dicated boom and there were some genuine
buying orders from Indiana and Ohio, evi
dcntly based upon damages, present and
prospective, of high water. Later it became
known that some of the whilom bears really
changed their position Of Saturday and to-day
were quietly but persistently purchasing grain
which smaller imtators and toilers were Of
fering.
On change, May wheat opened with sale:
at s1.01A@1 025s mostly at the latter figure
sold to s1.0234, went back to s1.O11z, then
went with rush to $1.01X and s1O2 stimuli
taneously, then under heavy offerings it went
down to S1.01s5, and at this point reinforce
ments came from the provision side of the
house and forced prices to s102A. 1t wen
off to s1.01% but. was soon hoisted to S1.025a
with two trades at $1.021z, and closed firm
at s1O235.
A. NJ Wright says: ''Those who have
watched the market closely were well salts
fed that the support came from the provision
crowd, their object being to bull wheat as an
additional support to provisions" and this
statement received color from the manner in
which prices followed each other.
The receipts of corn were 577 cars In the
last forty-eight hours, of which 140 inspected
contract. The activity in wheat and pro-
visions drew away the crowd of spectators
and corn was during the mornings session
| dull heavy and neglected. It opened steady
at SOC and closed at 1 p. N. at the same fig
ure. The market fuctuated only between
5SM@5915c on split. Boxer 81 Co. ani
| Poole, Kent & Co. were the heaviest buyers,
while Webber and Dow were the largest sell
lers. Baldwin & Clark and Templeton sold
some small jags.
On call, wheat and corn were stronger Oh
reports of higher prices in New York an(
Liverpool, and the confirmation of continued
bad reports from the Ohio river country
Nearly z, 1000, 900 bushels of May wheat solo
S1.02X % Il. Most of it brought S1.02A
which was closing quotation. Corn CLOSED
at 5975 bid. On the curb there was consid
cradle excitement, and wheat closed a
$1.021l and corn at 59A both bid.
Shepard & Peacock say: ''It seems to u
that the trade are only beginning to realize
the fact that our visible supply has been dis
counted pretty heavily, and now that we
are reducing it literally each week reaction
from our late decline is but natural
Crittenden & Harney say: ''We should
get some reaction tomorrow, but believe we
shall see higher prices, and would watch fo1
declines and weak places to buy on. 1t i.
generally believed that visible supply will
show decrease of about 1000, 900 bushe L
when posted"
Minor, Richards & Co., said: s'We expect
sharp breaks from these rallies, but look for
still higher prices, and would advise buying
on breaks.n
Robert Lindblom & Co. said: s'The local
| crowd is inclined to bull wheat, believing
that it is necessary for the bull
leaders to advance it further in
order to be able to sell out.
| Aside from this there is the fact of decrease
prices to give legitimate strength to the long
| side. Reports from winter wheat districts
are uniformly better than for many years.
| The late reports are so extremely scarce that
it creates comment, but there is yet time fol
the croakers to get their work in
Provisions took a strong upward turn, porl
for May doing 35c better than the prophe
| aI RI of ~, fba
vision list may be accounted for from
the fact that the receipts of hogs art
continually falling in the expectations o
even those most capable Of estimating thu
condition Of stocks. As expressed by active
traders in this market, May pork is sure tc
see $50, unless receipts increase very ma
terially, and thers are no indications that
they will do so. Trading was active in al
hog products. A. M. Wright & Co. repor
provisions favorably influenced by the gen
eral feeling. Mess pork opened 25c higher
at S1S for May, and under free buying, tc
cover shorts and manipulations of bulls, solo
to $3.50, and closed on 'change at tht
highest figure. 1t is supposed that at the
close most of the shorts had covered, but thai
| deal is with packers, VINO can put price:
where they please.
Lard fully sympathized with pork, and IN
der an active demand, prices advanced 2215
@25c per 100 lbs, and closed firm at highes
prices. There was no shippin g demand ant
buying was entirely for future delivery. Shor
ribs fully responded to pork and lard.
Crittenden s. Harvey say: ''We don't be-
lieye it good policy to begin buying now, and
while the market acts strong and higher, we
thiuk it safer to wait and watch for the toE
and try to make money on short selling.
The closing on the curb was very strong witt
quotations for May pork s11.35, lard s1O.15
Short ribs, s9.7215.