St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-09
CHICAGO
fspeeIal Telegram 10 the Globe. |


closing at about the highest point, with Feb
ruary at SO55c and May at S715c. Corn FOL
lowed the same course, scoring an advance
Of lc, the close being at SIZE for February
and Ale for MAY. Oats Joined the company
and went up 1l955c, closing at 2655c tor
February and 30]zc for May. The greatest
boom, however, was in provisions. which
were actively traded in, and closed at nearly
the highest figures, pork showing an advance
Of GOc To Sl2.55 for February, lard Of l25Ee
10 S7.0755, and ribs Of 25c to Sc. 321l.
Traders who covered their short wheat yes
terday afternoon and went long at closing
prices were in a very happy frame Of mind
this morning. The May option opened strong
al an advance Of &c, and before l0:30
O'Clock stood lc higher at S52yc.A number Of
leading houses, such as Scnwarz q Dupee,
a. VI. Wright * Co., and ". T. Baker &
Co., in this way secured for their customers
q very snug profit in less than twenty-four
hours. The strong feeling at the opening to-
day resulted in renewed activity in the VII, at
pit, though, during the unsettled condition Of
things yesterday, the trade was at
no....time dun. Robe 81 Linn we're called
heavy buyers at the opening, and the com
mission men generally appeared to cater to
patronage quite distinctly bullsh. The
scaipers, too were ambitious to own a few
thousand bushels OF wheat and consequently
the bull side of the subject was benefited by
their upport also. The general confidence
manifested in the article appeared
10 corroborate the correctness Of the
feeling yesterday that the market was not
weak, but nervous and excited, and more
hkely 10 take another turn upward than 70
lose what It had gained. Prices kept stead
ny on their upward course dur
Ing the morning, with but few down
ward fluctuations, the chief Of these
being caused by dealers in privileges, who
sold against their calls when the market was
10 the neighborhood Of Sc for May. but the
Effect was only slight and temporary, and at
the 10 O'Clock close the feeling was very
strong aud tue price s655c. In the after
bOon there was increased buying aud prices
vent up still farther, the final close being At
sTLc,or 2itc above Yesterdays last ures.
February opened at 757sc aud closed at
sS%c or 295c higher than yesterday. Lester
& Co. were active buyers. BANGS and
Johnny Moore and everybody else in the
office were up and In the wheat pit and buy
srs for all they we're worth
"Tve no doubt, " said one broker. "but
hat Lester q Co. took 1000, 900 bushels of
wheat to-day"
Their purchases were mostly on long ac-
count, while those Of Schwartz & Dupee were
mainly to lower shorts. Crosby Hobbs aud
Fraley were large BUYERS, while at s7c the
Adams brokers sold considerable, but their
offerings were readily taken. Liverpool was
reported dull and Mark Lane was quiet an i
steady with Ga per quarter decline for Cali
fornla, OF coast, on passage and ncaGy due,
and also on rrd winter for prompt shipment
j. WAS cabiel that country markets
In Eugand were much Rrmer than
trade at the ports OF adost, and II this state
OF things continued, a general improvement
might be looked Tor soon.
"Adylces from the northwest report In
creased deliveries nv farmers" said A. VI.
Wright, -and should these reports be con-
efmrd by materially increased arrivals, a
decline In values would not surprise me, rs
isrgc realizing will be likely to follow, yet l
am inclined 10 think that all purchases made
on sharp breaks will pay prodt, as there are
growing indications % return Of con idruce
In nearly au branches OF business"
"The recent bulge has strengthened the
situstion very much" said prominent
broker this evening, las q has demonstrated
the fact that foreign countries have light
stocks and are as independent ot American
supplies us they have been trying 70 make us
believe and that they will respond at once "a
any good advance on this side, aud another
good pCiut gained Is the confidence t has
given our own people in the property. The
professional spectators will now have some
eoarage 10 take bull side aud fght for an
sdysnce. knowing they can get sup
port on the other side. Tuis
Increase ~ confidence attracts plenty
Of buyers with money, aud since the volume
Of speculation has grown on tue bull side 70
such large proportions suy material breaks
20 values are likely TO be quickly recovered.
She sdyance has been rather too much to
gay, ogt when q comes up again il will have
good strong public sentiment behind It
That will bold values aud sustain good large
advance, VIC apprrhcnd."
Tue Corn market to-day showed more life
aud strength than usual Indeed, the i'm
preston IS beginning 20 dawn upon ttr
uiuds Of the traders that corn aust gc
CD with pork and wheat and
rhat lhat there is no srea,
danger Of being overburiened bv larr,
SUPPLY. even Il prices were several cents
higher. Consequently there vas more conf
dent buyiug today Khan heretofore, and
pricrs went above TIE old s,erco;ypcd level
Esbrlarv opened At S6Ac aud closed Al
s7A,c. a gain of lc. Nay opened st 4Oc auu
went % aud closed a. ale. Receipts we're
mldcrale. s9S ears, only about Oue-foarth
grading contract aud there was better
shipping demand.
Tue fechag in oats vas very drra, With
srN3Sg msialy 10 the Nav option, which
vent 10 from 50 opening q S9A,c. The san,
as yesterdays close, % SoSc a. to-dAv',
closc. Toe most important feature vas TIA
TIE h-avtest .rsl.as wss doas a. he outside
iCure.
'Arno1r's turued ball." vas TIE word
IA ~ss passing around shs eoor to-day.
yes, Arrnour's surucd oal," said pro
risgou broker. "At cas-; thai's VIA; every
ooiy saws. PORK Is sailing skywsra, and
everysody IS crying Tor IL, even he fsIlcw.
vho wcre drclariuC ast,e Waas sEo thai
Arv did rot ~ant & a. a gif-n
February PoEk Vas gs.Hg .; SO 50 alto 3