Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1884-01-29
BAD FOB TIE BEARS.
They Seem to be Disgruntled at the
Last Turn Of the Markets.
ALL CEREALS AT CHICAGO FIRM.
The Tendency Marked Towards High
er Range Of Prices.
A LIVELY DAY ON WALL STREET
Astonishing Rise in the Price Of Oregon
and Northern Pacific.
ALL CEREALS AT CHICAGO FIRM
A LIVELY DAY ON WALL STREET
CHICAGO.
Lsnooial Telegram to the Globe ]

been frmer a even higher cables. Prices
have been stia 1t New York, and actually
a considerable quantity Of grain has been
taken by exporters for shipment. Up to
the middle Of the week the best efforts Of
the best grain operators could not keep
the price of wheat up here. The situation
now is such that the best efforts of the
best operators do not avail to keep it
down. There was this morning 8
very large volume of trade. There
were some very strong bears selling, like
Jones and Irwin. There we're, besides,
other very large sales by people who had
bought their grain lower and who were
satisfied with their profits. In this class
were the Adamses. The price Of wheat
advanced and closed at 1 O'Clock 10
above Saturdays figures. 1t was mag
nifcent day for scalpers. May opened at
$500, fell to 972lc, then advanced steady
and closed at $3.50, the tog figure.
"There are very few," said a broker,
"oesides local operators in the
market yet. The outsiders have not
become interested. They went
in last December expecting
a January boom. It never came, and
they departed after having dropped their
money. The present bulge is occasioned
altogether by the changed attitudes of a
few of the big local traders. Lester, for
instance, has changed from a seller to a
buyer. The Adamses changed SOME time
ago. There is little prospect for safe
bull movement, however, until the out
siders come in as buyers. The present
soft weather has had some little influence
on prices. This is always considered a
critical period for winter wheat
The country is,'' said he,
Every generally covered with snow
and this is favorable circumstance. A
thaw, however, at this time of the year,
followed by a freeze would be likely TO
cause damage; would at least set afoat
alarming rumors. Alarming rumors about
the winter wheat would be enough, togeth-
or with the unsettled state of affairs
abroad, TO put up the price of wheat"
The trading abont the corn pit was
small. 81 do not believe" said one man,
>'that 100000 bushels changed hands this
morning. With 80 little trading and good
fair receipts. prices weakened little"
May corn opened at $50, fell to 5758c, but
closed at $3.50. Receipts were 481 cars.
Provisions acted like wheat and under
the same Influences. Cables we're higher
and the demand at New York better.
Brokers reported the cash trade good. May
pork offered at 1856, dropped to $685.,
and closed at $161715. May lard opene d
at $9,2211a and closed at SO 35. Receipts
of hogs aggregated 800. There is little
doubt but packers are bullish and firm in
purpose not to sell except at an advance.
It is certain, too, that southern and for
eign buyers are advancing their figures.
Among the gossip current here is
story that Jack HaverlY is short
100000 bushels of corn at 5Sc, through
a we'll known New Yorker who is here, but
when at New York spends his evenings
with Haverly at the Fifth Avenue hotel.
During the day private cables were contra
dictory, but seemed on the whole stronger.
The Adams crowd, it is conceded, has sold
q vast quantity of long wheat reaching
into the millions of bushels, but the
market absorbed it easily and advanced.
The market was little de2d on call, but
on the whole strong Provisions reached
"a good doal higher. May pork closed at
$16.27115, May lard $45215. Wheat and
corn, however, did not hold out. May
wheat stopped at 995@994c. May
corn at $500. Big traders
were not in market on a great scale. Poole,
Kent & Co. were selling wheat. So was
McGeoch. Swartz & Dupee, Robert War
ren, Lindbiom, Comstock & Baldwin we're
buyers but not in large blocks. The mar
ket appears to even up. The course to-
morrow will depend apparently upon the
weather and cables.
Receipts of cattle and hogs were about
1000 more than for the corresponding day
last week. The market was slow and
prices 25@30o lower than last week in
medium to fair fat cattle, 30@4oc lower in
common and half fat cattle, weak and
tending lower in butchers
stock, which is IN heavy
supply, fully 20 per cent. of the arrivals
being canning and butchers stock. The
general market was dull and weak, and
fully 10 per cent. lower than on Saturday.
Buyers instead of skirmishing about the
yards as they did last Monday. were loiter-
ing about the exchange building, quite in
different as to what pas going on about.
Hogs are about the same as a week ago.
Trade and prices are dull and lower, in
many cases 10 per cent. below the current
prices of Saturday, and from 20 to 80 per
cent. lower than the highest of FRIDAY last.
The greatest decline is on ali sorts of light
and mixed packers, yet good lot of Phil
adelphias sold this morning at 1888
that on Friday would have brought s6 80
Light that sold at S.. .6O@5.65 on Fridav
sold at $5.450550 to-day, and assorted
light that sold as high as $6@6 .25 on FRI
day sold for $5.95@6 today. Spectators
were not in the market and packers
seemed entirely Indifferent.
Trade in sheep was active and nrices
unchanged for the best. Common and