St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-30

back and propose TO be well loaded up WHEN
! the right time comes.''
The attitude Of this frank talker IS the at
titude OF nine of ten Of the others who Fri
day and Saturday, and especially Saturday,
were buying wheat as II it we're the very last
day that the pit was to be kept going, and
the very last chance anybody would have TO
go ''long'' on No. 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 abroal, have an explain
alton which has nothing 10 do with the re-
ceipts or with the foreign demand. never
knew Of any vast trading in privileges at
figures ridiculously close to the mark that
was not followed by some pretty sharp hTctu
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 Le away
from the market, the spread being only Ilr,
puts going at 7S5sc, and calls at 7956c.
There was 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 at 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
that price and bears who sold were, of course.
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 1491lc in day, and which had got to
speculating on the assumption that this mar
row 1uctuation 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 &c advance in
wheat"
''On all reasonable reactions from sudden
advances / think buying will prove profit
able" SAID Geo. Brine, ''and look for active
and generally imp proving markets for bread
stuffs everywhere during the next thirty
davs.''
II consider the Legitimate outlook as very
strong" said G.. S. EEeringham, s'and ex-
pect TO see 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
10
the year is very close and the advance has
been accordingly rapid, though general, and
not confined 10 one or two markets, and
think reaction of a cent or SO quite in
order before the first business day Of the new
year,
Mllmine, Bodman e. Co., in their circular
tonight say: "The advance seems general
all along the line, and, II reflected by strong
cables tomorrow, IL win be an easy matter
to add cent or two more TO the froth 1t
may go up few cents more until everybody
is loaded up. and then a sharp reaction may
be looked for, or it may 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, il will then be
time enough TO begin investing in it's
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 in 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 IS penny per
GENITAL lower. Our receipts were pretty good,
BOB cars, against 4l0 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. 2 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 355 5sc and 3T2Ic respectively.
Mess pork opened &c below closing quota
tons of Saturday, quickly dropped Zoe more
anu tncDi unuer goou demand, advanced
171zc, 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 a decline of
sc OF the former and 21<c on the latter as
compared with Saturday.
At the stock yards the receipts Of cattle
were rather more than could be comTorta-
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 large number sold
at about "a. Is, 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 strong sc per 100 pounds against the
seller to-day.
CHICAGn TINANCTAE