St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-30
back and propose to be well loaded up when

back and propose to be well loaded up whsn
the right time comes"
The attitude Of this frank talker is the al
titude Of nine Of ten Of the others who Fri
day and Saturday, and especially Saturday,
were buying wheat as II il were the very last
day that the pit was to be kept going, and
the very last chance anybody would have 10
go 'long'' on No. 2 spring wheat
"Do YOU know" said another gossiper.
"that while most Of the traders explain this
little bulge by pointing to decreased receipts
in the northwest, aud by talking better prices
and better demand abroS1, have an explain
alton which has nothing TO do with the re-
ceipts or with the foreign demand. l never
knew Of any vast trading in privileges at
figures ridiculously close TO the mark that
was not followed by some pretty sharp fiTctu
alton. Now for fortnight puts and calls
have been enormously traded in exceedingly
close TO the market. On Friday night before
the cent buldge OF Saturday puts and
calls on May wheat were only re away
from the market, the spread being only Jlr,
puts going at 7S55c, and calls at 795sc.
There was a very large trade in them, too
That followed which always does. Half the
market had calls sold, and many sold Sat
urday against them. There was sleet storm,
little better feeling al New York and the
other winter wheat markets, and one short
after another became frightened. Sell
lers OF calls at 79kc became
frightened when the market sailed above
hat I II
losers. The buyers Of calls who had traded
on them early in the morning were in the
same category. II came about that the
crowd, had become accustomed 10 ranges
of H@1Ec in day, and which had got 10
specializing on the assumption that this mar
row fluctuation would last forever, suddenly
found the market moving far beyond the
bounds set for it. That's why there was such
an ado last week over a &c advance in
wheat"
con all reasonable reactions from sudden
advances l think buying will prove profit
able" said Geo Brine, "and look for active
and generally improving markets for bread
stuffs everywhere during the next thirty
DAYS"
Il consider the legitimate outlook as very
strong" said G. s. Everingham, ''and ex-
pect 10 see a sharp and large advance in
values, with an increased export movement,
and, while do not wish TO appear over san
guine, believe it will be the forerunner Of
renewed prosperity in many other branches
Of business"
Said Geo. Shepherd: ''The situation ap-
pears very strong. Outsiders are taking hold
and the heavy buyers have not vet shown
much disposition TO realize, but the end Of
the year is very close and the advance has
been accordingly rapid, though general, and
not confined 10 one or two markets, and l
think a reaction of a cent or SO quite In
order before the first business day of the new
year,
Mllmine, Bodman & Co., in their circular
tonight say: "The advance seems general
all along the line, and, If reflected by strong
cables tomorrow, ii win be an easy matter
to add a cent or two more to the froth II
may 90 up few cents more until everybody
is loaded up. and then a sharp reaction may
be looked for, or it NAV be an advance will
come along gradually, in which case it may
last some time. We must wait and see
whether they will follow our advance on the
other side and take our Rhea. faster at higher
prices, and, in case they do, it will then be
time enough TO begin investing in it."
a. NJ. Wright thinks the chances for
strong market are daily improving and adj
vises purchases on breaks, and most all of
the leading brokers coincide in this opinion
and advice.
Corn participated il the rise TO a very lin
tied extent, more, however, from neglect
than from any other cause. The activity in
wheat seemed to absorb all the time and at
tention of traders, and corn was largely left
TO take care of itself as best It could. Liver
pool was slow on corn and : penny per
Genital lower. Our receipts were pretty good,
BOB cars, against 4lO Saturday, and out of this
number 147 cars graded No. > and four more
No. l. There is no imitation in the corn
market at present, as No. 3 on track is sell
ing for more than No. in elevator, owing
TO export demand for corn which is aboard
eastern cars. The advance in speculative
grades to-day was about &c for January and
May, the closing figures for these options be-
ing 351sc and 3T&4c respectively.
Mess pork opened &c below closing quota
lions Of saturday, quickly dropped Zoe more
and then, under good demand, advanced
1715c, recovering all the decline Packers
sold freely early in the session, but the offer
ings we're taken, and as wheat improved the
demand was more urgent. Later on there
was some reaction, but closing prices were &c
below those current at the same time Satur-
day. Lard and ribs were both easier. clos
ing with rather better feeling than existed
earlier in the session, but at at decline of
sc or the former and 21lc on the latter as
compared with Saturday.
At the stock yards the receipts Of cattle
were rather more than could be comforta-
bly, disposed of and prices ruled lower on
common and low grade natives. The re-
ceipts Of hogs were liberal and the demand
was steady, hence prices underwent little OF
no change. Perhaps a large number sold
at about S4.15, than on Saturday as on that
day the average on packing grades was near
S4.20. Toward the close, however, the
market was generally quoted shade higher
than at the opening. The weather was at
least a strong sc per 100 pounds against the
seller to-day.
CHICAGO FINANCIAL.