St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-31
Predictions of Cold Wave From the
Northwest Give the Markets
Boost Upwards.
Wheat, as Well as the Minor Grains,
Shows Observation-Disclosures
Firm from Start to Finish.
testers Move in May Corn the Only
Interesting Event of the Day
on Change.
stocks Higher in Gotham, ST. Pau
Still Continuing an Interesting
Feature to Spectators.
Chicago.
Special to the Globe.

Special to the Globe.
CHICAGO, Dec. 30.-John T. Lester has
tarted in to bull May corn and got 1t up
today 15@%c a buShel. Lester and his
millionaire partner, Sam Allerton, have
Deen pronounced by great trader, who
Knows what he is talking about, the best
commission men in the trade. They are
schemers They are all the while seeking
novelties like the fancy goods stores on
State street. Awhile ago they started in
to bull Northwestern stock. They did not
make any money for their friends out OF
that. But when, after a conversation with
Mr. Armour Mr.. Allerton led a big bull
crowd into St. Paul, he did make lots OF
money. SO did they in their last bull move
in year corn. By lodging from one spec
ulatiye article to another they keep up in
tereSt and by Withdrawing their customers
from all other securities and throwing them
all en- maSSe on corn or wheat or oats or
some stock, if it is not too big one, they
made them very often a good deal of
money. Testers move in May corn was
the
EVENT OF THE DAY,
but Wagner was selling a great deal OF
wheat, and traders who happen to know
the relations which exist between the young
broker and the big packer know where he
happens to get a very large share Of the
miIlionare's trade. The conundrum is: Has
Mr.. Armour decided to throw over his wheat
holding, let the price drop and take hold
again? Wheat went up to 81 sc for May,
mainly on the weather. A cold snap, a
drop in the thermometer away below the
freezing point, would be likely to send
wheat up sc. Of course no such drop in
the mercury will take place, but it may.
There is no telling. The wheat fields are
bare, and if a wave from the Northwest
came along which would reach to Southern
Illinois, there would be good cause for a
wheat panic oyer the winter crop. The
markets were generally stronger to-day and
prices of all speculative commodities were
higher. Wheat opened where it left off
last evening. and by l o'clock had re-
covered portion Of the
LOSS SUSTAINED
yesterday, closing &c higher than the OPEN
ing, which was at lOw-water mark. The
strength was attributed to the approach of
a cold-wave from the Northwest to cover
ing by the shorts and to better feeling
growing out of the fact that orders for flour
for export very close to the market were
known to be in the hands of representatives
of foreign houses. Receipts at primary
were smaller than at any time for three or
four months, and the tone of the cables in
dictated steadineSs abroad and hardening
of values. The largest holders and the
largest shorts are known to be in about the
relative positions they have occupied for
some time past, both parties being mistaken
in their faith in the future course of prices.
The bears put their faith in the power of
the dead weight, and the bulls i'll the natur-
al Improvement in the situation. The late
close was steady at S415c for January,
S515c for February and Ole for May.
CORN DEVELOPED INCREASED STRENGTH
and was more active, with higher range
of prices. Receipts were small, u cars,
and the percentage of contract grades
lighter. Bad weather and prospective
shrinkage in arrivals produced a bullish
feeling, and prevented the bears from ham,
mering the market. Shorts were nervous
and bought moderately of the long futures,
which advanced and carried the nearby
one with them. Year ranged at SO 4 036%c,
and January at 1868 @364c. May was the
tavorite, and advanced from 39@S@4OLc.
and closed at outside prices asked, and
showed gain of H@55c over yesterdays
figures. Shippers bought freely of low
grades at 14@4c advance.
An improvement in oats is noted. a gain
of &c being recorded. Outside of the cash
market business was very dull.
Provisions were tirmer and higher, and
we note an advance of 1O@15c on mess
pork, 50715c on lard and sc on short rib
sides. The light receipts of hogs increased
the firmnessBof holders of the product, and
shorts nibbled Mess pork for February
sold at $9.9O@1O O215, closing at the out
side. March closed at S10.1219 ana May at
S1O.35. Lard closed at $6.05 for February,
S6.121I for March, and S6.2719 for May.
Short ribs closed at 81. 95 for February and
S5.05 for March.
PETER BERTEY. Pres. F. w. ANDERSON, Cashier.
c. W. GRIGGS, " Pres. a. C. ANDERSON, Asst. C.
THE ST. PAUL NATIONAL BANK,
CAPITAL, 100000.