St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-09
Will Probably Succeed, as It Is Being
Very Oleverly Managed by
its Engineers.
Year Advances Nearly Two Gents in
Spite of the ExeTtions Of
Big Bears.
Wheat Was Dull, Though Closing at
a Slight Advance--Oats and
Provisions Ditto.
An Early Raid on Stocks Gave way
to Feeling of Firmness and
Higher Prices Later.
Chicago.
Special to the Globe.

Special to the Globe.
CHICAGO, Dec. S-The weakness in
Wheat Yesterday was attributed to the in
crease in the visible supply. and consider
able selling was done in anticipation Of a
break that was to follow the official posting
of figures everybody had known with ap-
proximate correctness for forty-eight hours.
This morning the market opened 7s@Ac
lower, but nobody had any wheat worth
mentioning for sale early in the day. Re-
ceipts at all points were light. Gables were
steady. New York was Unexpectedly firm
and orders dribbled in from the Northwest
and the winter wheat region to buy. The
traders who had gone short yesterday
bought back their wheat and the market
Stiffened up. The lowest touched was S11sc
for January, SS19c for February, and
9415c for May. The top was
S755c for January, S914c for Febru-
airy. and CSC fol- May. The market
remained steady at within 4@35c of the
figures until half an hour or so before the
close of the session, when prices declined.
Larger offerings than the pit could absorb
brought quotations down to yesterdays
closing range. Reports that the selling was
on ArmOurs account were in circulation
but they were received with dlstruSt, and
Inc ndh0lNOTh VI Il CuuIUlIldtIO1 VI piO-
fessionaI scalpers was thought by some to
be visible The wires to the east were in
bad condition, and few orders from that
direction were on the floor. Business was
rather quiet Plainly speaking, it was dull.
This afternoon. however, the market was
stronger, closing &c higher than on Mon
day at SSc for December, SS3s &c for January,
sS1Sc for February, and 9419c for May.
Puts on January wheat sold to-day SS7sc,
calls at S9c. Puts on May wheat sold at
$3.50, calls at 9516c. The advance of over
nc in year corn was the thing on the
floor that
ovERsHADowED EVERYTHING ELSE
at the opening.
This option in thirty minutes sold
up to 434c and showed every indica-
ton of keeping OH up. The year" deal is
getting near its crisis, as everybody knows.
If there is large shortage the crisis will
catch the shorts and if there is no great
amount of shortage, then the engineers OF
the deal will soon find it cellapsing. The
fall in temperature and the appearance of
snow is just what these people wanted. 1t
will check receipts and affect the grading
mfavorably Lester & Co., it is apparent,
have sold out the bulk of their holdings
and now whatever there is to the deal is in
the ndnuS Oh McCOrullck, heHIietG " W.
The hest commission man in the pit and
who ran the most successful corner ever
engineered said: 1.-THE bull clique must
bulge this corn up to about SOC or lose
money. Otherwise they can't sell out at a
profit. If they had to sell now
the market would go to pieces"
The advance to 43Hc was on trading in
year that did not exceed 1901 900 bushels.
The weather frightened good many. The
close was at top figures, at 43c for year,
39Bc for January, 3S4c for February and
4O1zc for May, all closing $4@1c higher,
except year, which gained 17sc. Oats were
in fair demand and the market showed
slight improvement on yesterday. closing at
29c for December, 2S5sc for January and
315sc for May. Provisions were very dull
and steady. The little change in prices
that is noted was in the direction of higher
range, but the appreciation in values was
quite minute. The surface of trade was
scarcely ruffied. Pork and lard gained axe
on all futures and ribs.
PETER BERKEY, Pres. F. W. ANDERSON, Cashier.
{. W. GRIGGs, V. fres. A. c. ANDERSON Asst. G.
THE ST. PAUL NATIONAL BANK,
CAPITAL, 100000.
M.