St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-02-10
GREATER ACTIVITY
Characterized the Market for the Past
Week, With the Possibility Of
a SHARP UPTURN IN THE FUTURE.
Wheat Opened Easy and Advanced
Closing 1 cent Higher.
4 PREDICTED RISE IN CORN.
Pork Active and ger-HOgs High
er and Oats Quiet.
STOCKS STRONG AND ACTIVE.
Wall Street Experiencing an Old Time
Bull Market.
A PREDICTED RISE IN CORN
Pork Active and ger-HOgs High.
er and Oats Quiet.
STOCKS STRONG AND ACTIVE.
Wall Street Experiencing an Old Time
Bull Market.
CHICAGO.


larger, but the bulk of the business was
local, and by the same crowd of operators
who were foremost in the markets for the
past two months. There is growing ten
denoy among the most conservative brokers
and speculators to go slower as the time is
now OF hand when a sharp upturn is liable
to occur, and those who have watched mar
kets for ears think the indications for
such a movement are becoming more ap-
parent every day.
Wheat was the leading feature in specu-
lative markets to-day. The receipts for
the week foot up 1856 600 bushels, and the
shipments 91,9O0 bushels, and stocks will
show an increase. Taking the amount
in store here to-day at 100000 bushels,
and the stock that is liable to accumulate
between now and the opening of lake nGv-
igation, it will require an average weekly
shipment of 1,250000 tons to take it all
out before August. The market to day
was active and strong, and advanced 1ac.
Advices from New York quoted a better
tone, with Chicago party, supposed
to be Sid Kent, buying in that
market to help his friends to bull wheat
here. Cables, however, were weak and
dull, as on previous days. very strong
undertone was developed, and was helped
along by reports of cold weather in winter
wheat regions, and decrease IN the visi
BILE supply of l, 100000 bushels. AS the
latter is one of the chief bull arguments
used the report was taken with a little salt,
but it served the purpose of the bulls ad
mirably. The market opened rather easy,
any many expected another break and
sold heavily for few minutes, but the
market held up and with free buying by
Nat. Jones, Ream, Poole. Kent d Co. the
Spruance packing crowd, and Roch.
Much of the takings of the latter was re-
ported to be for Lindblom, who has been
short long time; but as Roach is known
to be his own best customer, and one of
the most difficult operators to follow, on
account of his propensity for sudden
changing, it is impossible to tell to GER
tainty exactly what he is up to. The gen.
eral opinion is that he was buying for an
upturn. Opening sales were at $3.50,
$500 for May, and prices advanced un-
der persistent buying, to $1.0116,
with few fuctuation it receded to $1.0058
and closed firm at 81. O058@1.O04,
which was &c above the close one week
ago. On the curb the strong feeling con-
tinued and long Iost sales were made at 81.
Winter wheat removed dull with not
enough doing to establish quotations,
millers ordering very sparingly, and the
few orders received for sample lots were
filed without difficulty.
Corn was about the dulIest article on the
speculative list except oats and
rye. Trading was light and enterely
local soalping and at time,
it WAS almost deserted. The feeling was
weak from opening TO close, and was only
supported by the strength in wheat and
provisions, and the prospect of marked
falling off il recipes next week. Arrivals
to day were 356 cars, SO clrs being con-
tract, and for the week aggregated 1885,
600 bushels, and shipments were $4,000
bushels. The visible supply is expected
to show an increase of 100000 buehels.
Opening sales were made at $3.50
for May. Nat Jones bought moderately
for time and sent prices up to $500
but the advance could not be maintained
as there was not enough general buying
and prices receded to $500 and finally
closed at 5528c on change and at 5834o on
the curb. In sympathy with the advance
in wheat the shipping demand for low
grades was moderate and supplied from
car lots on track at lower prices than Fri
day. During the week vessel roem was
engaged for 1885, eco bushels, but only 100,
600 bushels of No. 2 was loaded.
Oats were quiet but stronger and so
&c higher, the strength being entirely due
to the upward movement IN other articles,
as the demand from shippers was light.
The receipts of hogs were small, aggre-
gregating 91,734 for the week, against
1917 for the previous week, and 1927
for the corresponding period last year.
The quality is poor this season. The
arket is stronger and advanced 4o@5Oc
per 100 pounds. Shippers took so per
cent. of the Offerings, which was an
unusual thing for this time of the year.
The supply of hogs at interior points were
also light, any many small houses have
been forced TO close for the season. The
number of hogs packed here to date is
I,8S2,000, against 2, $4,000 in 1882, and
2,258,0OO in 1881.
The provisions market, while not ex-
hibiting as much life as on former days,
was quite active at times, but trading was
mainly on local speculative account, and
for May delivery. Baldwin, McHenry,
Cudahy g. Stevens and few others bought
pork quite freely in quiet way at inter
walls, and strong undercurrent prevailed
from the opening to the close, which was
2O@25c per barrel higher than last sales
of Friday. Since the opening of the week
prices have advanced $1@1 20, and closed
firm at outside quotations of the week.
Lard was traded in to fair extent by
local speculators, but outside orders were
light, very strong feeling prevailed, and
prices advanced 10@1215c per 100 lbs.
from last nights close, and for the week
showed an appreciation of 5o@60c. There
WAS more shipping demand, and 5000
tierces were taken for export to Liverpool
TO cover shorts there.
Short ribs were quite active, Oudahy
& Stevens bought freely all day, and their
takings are estimated at 100000 lbs..
which caused an advance of 10@15c, and
they closed at the outside quotations of the