St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-05
Wheat Bulls Consider that Austria, Turkey
and Russia CANT Honorably Re-
fuse to Fight.
Grain Prices Helped by Efforts Of Local
Bulls, War Cables and Cold
Weather.
Wheat Advances 1-2c, Corn is
Stronger, Provisions Higher and
Oats steady.
The stock Market at the New York
Exchange Becoming very Dun
Inoeed.
Chicago


remarked a looker-On in the wheat pit this
morning. .'but l don't think so. he APP
pears TO be selling fully as much as, if not
more than, he is buying" Be this as it
NAV, the wheat crowd followed Clifford S
action with good deal of interest, and for
a time looked on him as the leader OF the
bulls without being clearly able to tell who
he was "bulling" for. He apparently
wanted wheat very badly around 10 O'Clock
and disdained anything smaller than 100, 600
bushel lots. At one time he did
the outside market for 100000
bushels January. Kantner made
feint of selling it to him, but the sale was
doubtless washed" afterward. When
this kind of trading was going on it was a
popular thing in the pit to bid for 1000
to 1000, 600 busheI lots and as general
yell OF sold went up the shout, put it
down to Clifford, was heard. When the
cause of all this disturbance withdrew from
the pit he remarked: Il only wanted 100,
600. anyway, and no one would sell it in
one block There's no wheat for sale. "
The bulls had the call on news to-day. The
headlines over foreign dispatches IN the
morning papers were unusually
SUGGESTIVE OF POSSIBLE SLAUGHTER,
peaceful relations between the jealous great
powers and further ''scrapping" between
the Jealous little powers. The weather
bureau predicted snow. and later dispatches
froi,iihe Northwest announced the actual
prey alence of storms of such violence as to
threaten hIockades. Arrivals of spring
wheat at Duluth and Minneapolis were
light and both of these towns were large
BUYERS in our market. In addition to the
above bull information, may be noted the
fact that market cables were more encOur-
aging to all, and the ''knOwallS" had it
that the Minneapolis mills would be running
again in a few days, also that the millers
were marking up the price. The miller
news was received with incredibly and open
dsrespect being stignatiZed by unbelievers
as CUFF" served up for the edifcation of
the marines. Reports contained in private
cables that stocks in England were decreaS-
ing were also taken under Amusement, yet
with all this wealth of news to brace them
up, the bulls were not ferociouS this morn
ing and sellers appeared to be numerically
much the strogner Of the parties. The OPEN
ing was irregular, but on the whole little
above Yesterdays close, the first quotations
reported being 9715c for January, S44c for
February, and $3.50 for May. a general
principal buying was by Eldredge, Wood
bury, Baxter and Logan, the commission
houses
TAKING A MODERATE HAND.
The crowd fed the bulls great quantity
of wheat and the market slowly relaxed
its frigidity, prices receding and general
tone of heaVineSS making itself felt. Said
one trader, who has become a bull again:
Minneapolis, Duluth and st. Paul have
received since Aug. %, "a, 600, 900 bushels;
there is now in store in country ware
houses 5000, 900 bushels; there has been
shipped to places not mentioned about
1000, 900; the requirements in the two states
for bread and seed are IA, 900, 600 bushels;
there is on the side-tracks about 1000, 600;
This disposes of As, 900, GOO bushels and we
have made no allowance for the
spring-wheat drain from that ter
ritory to Milwaukee and Chicago,
which would probably be sufficient
to absorb the entire crop. We have then
left only the surplus from the last crop,
whatever has been raised in excess of the
estimate which no one places over eight
millions, and that only by the governor of
Dakota. When these facts dawn upon the
public mind there will probably be some de-
mand for wheat that is now III sight. which
plus Prices dropped back nearly to the
opening when the tide suddenly turned and
wheat began to pick up the fractions mer-
rily. The storm news was
THE LEADING sTIMULANT
and the weather predictions were eagerly
looked for. while private snow dispatches
fell upon the pit like the mamma of old fell
upon the wilderness real estate of the chill
dren of Israel. The sight of real snow
few minutes before 1 o'clock filled the boys
with delight, and great shout went up in
greeting. The arrival of winter was &C
knowledged in BETTING manner. The
closing at l o'clock was firm at very nearly
the outside figures of the forenoon, and a
full lie above yesterdays close. Again this
afternoon prices were doomed by spirited
buying, advancing 3s@1@c, closing at soc,
January Sole, February 951sc, a clear gain
OF / &c over yesterday.
Corn was moderately active, but trading
spasmodic The advance in wheat, reports
of bad storm throughout the West. which
were confirmed before the close, l penny
advance in Liverpool and a strong market
in New York, made a tirmer feeling among
ha1e ers who did not sell freely and caused
shorts to cover literally. There was also
some long buying by strong houses, which
created the impression that manipulation
was to follow. Year opened at fl sc, adj
vanced to II &c. reacUed to 1850 on fair
selling and the break in wheat. When that
market turned upward again,
CORN FOLLOWED WHEAT
and advanced and touched 42c but closed
at 10 o'clock at Al g @41$lc. an advance of
&c over same yesterday. Longer futures
closed &c higher, at S9@391 sc for January,
and 4014c May. Shippers made fair pur-
chases of low grades. The deal was en-
livened to-day by the pressure of good
many heavy traders whose maneuvers
afforded the generality of traders a chance
to speculate as to what they were up to.
Jones was large trader in May and Bangs
mounted the reporters pulpit and offered
December IN large and small lots. propos-
ing at the same time to buy
January. This created the impression
that Lester was shifting his deal
from December to January, but some of the
older heads were inclined to take precisely
the opposite view because of the openness
OF the play.
Oats were less active and for future de-
livery prices closed 15@15c lower than at
l o'clock yesterday. December closed at
29c and sales were at 2S34@29c, January
closed at 29c, May sold at 3115@S15Sc and
closed at 31$4c.
Provisions were dull and disposed to be
weak until near the close. During the last
half hour
HEAVY PURCHASING OF PORK
and lard by one or two packing houses was
the feature of the trade. The closing was
firm at substantial advance. Ribs con-
tlnued inactive to the end and quotations
were unchanged. Said a well-known pork
packer: 1T is reasonably certain that we
will have light run of hogs during the
last two months of the packing season. We
will have our cellars filled with pork that
cost about SO barrel and the interest of