St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-05-22
AN UPWARD BOUND.
Chicago Markets Buoyant,
Firm, and Becoming
Rapidly Higher.
Wheat, Under Unusual Activity,
Moves Skyward Nearly
Three Cents.
The June and July Options in Corn
Get a Boost of Big
Round Cent.
The Festive POrker's Flesh Adds Seventy-Five
Cents to Yesterdays Closing
Prices on Change.
Wall Street Showed Wild Fluctuations and
was Irregular Throughout, with
Better Closing Outlook.
Wall Street Showed Wild Fluctuations and
was Irregular Throughout, with
Better Closing Outlook.
Special Telegram to the Globe. |

Jury, anu lhe announcement or the SuSpen-
sion of couple of New York stockholders
producing but little effect, though a sharp
watch is still kept on eastern financial affairs
The grain markets were stronger, and prices
higher, with a moderate volume of business
between local operators, the shorts showinga
disposition to cover, rather than take the
risk Of having prices advanced on them by
the bulls, who drew encouragement from the
continued small receipts, and decrease of
stocks.
Wheat as usual, attracted the most atten-
ton in the grain pit, other cereals following
it up and down, and the closing sales on the
regular board being at about the outside fig
ures. The fact that the market displays such
wonderful elasticity, and Immediately starts
upward on the slightest appearance of return
ing confidence in the financial situation in
The east, and even sometimes in spite of it,
is regarded by many as an evidence that
there is i strong faith in the intrinsic value
Of the property, and that the only factor re-
quisite to cause and sustain material ad-
vance is an assurance that no further finan-
cial complications will occur. Hence it is
evident that the outlook does not justify
assume such risks are likely to be at the
mercy of the bulls, who will employ every
means at their command to force an advance
to price at which they can sell their large
holding without entailing a serious loss.
In provisions, or more specifically, in pork,
there was continuation of yesterdays boom
and prices at the close showed net gain of
75c per barrel over yesterdays last sales. The
deal continues to be manipulated by the few
holders in whose hands are all the available
products, and they showed an increased dis
position to whip in the shorts, and the heavy
demand by this class of spectators to cover
was the main cause of the appreciation.
Wheat was stronger at the eastern sea-
board markets, New York markets showing
fair advance and cables reported steadier
feeling, while the receipts were again small,
aggregating but fifteen cars against 114.O00
bushels withdrawn from store. The factors,
coupled with the report that the bull syndicate
which is said to be composed of
some of the heaviest operators on the
floor, had definitely agreed to check any fur
ther decline of consequence, caused consid-
cradle uneasiness among timid shorts who
were disposed to cover their sales and await
developments. The large advance on pork,
due to squeezing the shorts in that article,
also increased the uneasness of the bears in
wheat The opening was at A@35c over
yesterdays close, at Gle for July, which,
after an advance to 9135c, receded to 9O$lc,
but again rallied after frequent fluctuations,
and sold up to 90 q C at the close of the regu-
lar board. The transactions were mainly
between local operators, outside speculative
demand being small, and the advance pre-
vented the execution of export orders. There
was stronger feeling on the afternoon
board, and the opening was strong at 92ISc
for July, which sold up to a close of $500
933sc. Trading was liberal The shorts
seem thoroughly alarmed, and the bull clique
was materially helped out by an army of
toilers, both local and outside.
Corn was largely traded in and was strong
er for future delivery, under good demand
to cover by shorts and buying by scalpers
for turn, the former being induced to buy
by the small receipts, 123 cars, and the an
ticipation of 900 bushels with additional
freight contracts for 125, 900 bushels. Cables
were also irmer, but the chief strength came
from wheat, and prices followed that grain
up and down. In addition to liberal buying
by shorts, there was considerable taken bv
scalperS early, who resold at the advance.
July opened at $500, sold up to 575Sc, re-
ceded on realizing by shorts, and finally
closed at 572lc on the regular board and
57%c on the afternoon board.
Oats were more active, with a slight improve
ment in prices for all grades, owing mainly
to the strength of other grains. July closed
at 349lc on 'change, or 15c above yesterdays
last sales and at 3575c in the afternoon
In the provision market the interest CEN
tered in pork, which was again advanced by
the clique to force the settlement of out
standing short contracts. This article was
stronger and more or less irregular and at the
lastsales was 75c above the last sales Yesterday
afternoon. The demand was mainly from
short sellers, though considering t he advance
and the frmness with which it was main
tanned the buying of this class of traders was
quite moderate. July opened at S1S.10 and
rose with numerous fluctuations to S1S.75
from, which it fell to a close of S1S.6215G0
1865 on change, May and June closing at
the same figures. On the afternoon board
there was an increased demand and prices
advanced 713@10c, the latter for July.
Lard was strong, and May and June de-
iveries were advanced 21%@715c above yes
terday's close on Change, while June and
July were unchanged compared with the 1
O'Clock prices, but sc above the last sales in
the afternoon. The last sales TODAY were at
sS.35 for July.
Short ribs were moderately active for fu-
ture delivery, but practically unchanged.
The cattle market was again active. with a
sharp demand for all grades of fat cattle.
There was no particular change but prices
ruled stronger on the best dressed beef and
shipping steers. Gamers and butchers,
stock were scarce and selling quick at a
shade higher prices. The supply of stockers
and feeders was light, the demand limited
and prices continue to rule as high as ever.
There was fair number of distillery steers
on sale that made from So. 3096. 40, distillerv
calves S4.S0(05. There was some demand
for exporters and a few loads made Sc 25(0
6.7775.
The hog market continues in an unsatis
factory condition. Trade was duh and prices
were 10(915c lower. The total decline in the
past eight days was soc per 100, most of it the
past two days. There were but few buyers