St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-05
The Grain Market Actively BILLED on
Numerous Reports of Damage
to the Growing Crop,
While Stronger Foreign Advices and
Lighter Receipts Lend Their Aid
in the Upward Movement.
May Wheat Advances 12e, Corn lie, Oats
re. and Provisions Hold Their Own,
Closing Firm at Sli ght Advance.
The Stock Market Higher and Strong,
Laokawanna Leading with the Grang-
ers a VERY Good Second.
Chicago.
Special Telegram.


Closing prices showed advance of 100
12lc on wheat I91c on corn, and A@1lc
on oats. Provisions, although destitute of
animation, advanced re 90 pork and sc on
short ribs. The principal causes Of the adj
vance were rumors of a European war and
weather scare. Speculation continues at
low ebb, although strong efforts are being
made 10 resuscitate it. The market was firm
at the closing quotations. The bulls on
'change had something like jubilee to-day.
THE GRAIN MARKETS
took surprising turn and developed in
creased strength. accompanied by fair ai-
vances on the entire list. Wheat led, and
all other articles followed closely. The legit-
innate Influences calculated to control values,
while not OF a prominent character, were
favorable to the bull side, the chief of which
were rather stronger. Liverpool advices in
dictate smaller receipts and softer weather,
which it was feared might hasten the disap-
pearance Of snow, thereby leaving fall sown
wheat exposed to damage by freezing.
The opening sales were H@&lc over yes
terday's close, some good sales of the May
option being recorded at $500. Later an
advance of H@3Gc was scored
and the shorts did some lively
hustling TO save themselves. During most
Of the morning buyers showed an uncertain,
hesitating disposition and the offerings of
scalpers who were anxious to take profits on
yesterdays purchases caused a break of nc.
THE CROWD IN THE PIT
seemed to have formed itself into sort Of
mutual protective association, for nobody
seemed anxious to do more than take every
possible precaution to prevent loss. Just
before noon the belligerent character of the
political news from Europe quickened the
bidding from shorts and local scalpers and
started prices upward. Dispatches announc-
ing the sudden improvement were sent to
other points and brought fair buying orders
and the offerings being moderate pared
with the demand prices appreciated
1A@12sc from the lowest figures
and closed on the morning session at outside
quotations.
There was a weaker feeling at the opening
OF the afternoon board but free buying by
shorts advanced the market H(91lc with
closing sales at the
HIGHEST POINT or TIE DAY
for February and March. and &c under the
highest figures for May. The latest prices
bulletined were 7s5sc for February, 791Ic for
March and SAGE for May. Despite the steady
advance in prices the wheat pit exhibited
dulluess all day. Crttenden, Baxter aud
Adams we're heavy buyers throughout the
day, but the purchases Of the brokers had
little to do With the advance. The weather
was the one strong point the bulls relied on
The whole coterie Of the Adams brokerage
were buying and covered a shortage Of some
millions for their principals, but the patting
OF the water from snow upon the roof of the
exchange building counted for more than
the covering Of any shorts. The speculative
shorts could see the snow disappearing from
the wheat fields and the prediction OF the
weather bureau that colder weather was adj
vancing put them
IN "A PANIC.
'The Market said d. w. Irwin, as NOV
Ing along on a very even keel. There's
nothing TO move II up or down very much
that can see. The weather will be a decid-
ing influence for the next thirty DAYS. There
is thaw all over the country now, aud If 1t
is followed by freeze the figures will quite
certainly 60 up. This is the season for crop
scares aud nothing will scare grain specula-
tors so quickly rs the talk over alternate
thawiug and freezing at this time Of the year
THE FOREIGN DEMAND
has fallen of so that il can scarcely be said
to exert any influence Just now. The En- |
glish markets are now following instead Of
lea ling this. Wheat here at under s3c Is |
hard. II bulls easier than it bears. and /
am inclined To believe that there will be an !
advance before there Is decline The /
blockade from cold weather and snow is |
being raised. and good deal of grain, espcc- |
tally corn, is arriving The eastern markets |
which were bare Of this grain will soon be /
filed up"
almost entirely by short sellers, whose appre-
tensions respecting the growing crop develop
on moderate proyocation." c. d. Hamill
said:
Il do not regard the advance
a. permanent" ''Everything de-
ponds on the weather." said G. S. Eveiing-
ham. III rumors Of damage to the growing
crop be confirmed, sellers at s3c for May de-
livery
WILL REPENT THEIR ACTION.
"The advance to-day vas too sharp to be
permanent although do not think reaction
will be 81 severe"
Influenced by the strength OF the
wheat market, corn took an upward
turn and there also some lively scrambliug
was doue after stuff to cover short sales.
Opening &c higher, at 80 &C the May option
advanced to 40Sac and closed 6rn at 4O%
The market was weaker at the close. oW-
ing to reports that large quantities OF corn
ready for shipment was being held back BY
the absence OF cars. A private dispatch re
eeived BY Geo. {. Eldredge < Co. said that
every elevator In Nebraska was full OF corn
aud that as soon as empty cars could be had
II was time 10
TOOK OFT FOR A RUSH.
There was but little demand for February.
This option opened &c better than TUESDAYS
latest figures at S6Ae, selling up to sac and
closing at that figure. March and April we're
higher, closing at SIAs9STI(e, With but little
doing, although the advance on corn wss
largely sympathetic aud due TO the strength
in wheat. There are plenty Of brokers who
think, on its own merits at present figures.
corn is worth attention. The speculative de-
nand was good throughout the day, aud
firm feeling prevailed at the close.
Oats were in fair shipping and speculative de-
mainland an advance OF c vas scored forSiay
stud Tue feeling VAS s;ronSsr uader mod
crate huyiug, by short sellers. with restricted
offerings, owing 10 the generally improved
toae Ia otser articles
PROVISIONS OPENED FtRNfER