St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-18
THEY FEEL BETTER NOW
The Bulls, Both in Chicago and New
York, Indulge in Little Self
Generalization.
Still There Is Nothing in the Situation
to Make Holders Especially
Elated
All Kinds of Speculative Property
on the Chicago Board Shows
Improvement.
Gould Stocks Leading Bull Move
ment in Wall Street, the Gran
gers Following.
Chicago.
Special to the Globe

Chicago.
Special to the Globe.
CHICAGO. Dec. 17.-Wheat cables were
3D. lower on nearly all varieties TINS morn
ING. and the market on the curb Defofe
regular trading began was exceedingly
weak. Nav sold down as low as o9s4c,
Hp+ohinson contracting with Lindblom to
deliver 90. 900 bushels at that figure. Ninety
minutes later it was 115c higher in the
wheat pit and at 10 o'clock &c higher. The
impulse to take advantage of the general
weakness to realize profits on their trade
seized upon the great army of bears at the
same time. and very soon after the opening
this purpose made itself felt on prices. The
market was largely oversold, and conse-
ouently in an uncommonly sensitive state.
1t responded quickly to the overtures OF
the BUYERS and values shot up at a
lively rate The scalpers who had
been on the lookout for just such
a turn gave the movement an added llnpe.
tus. and intensified the eagerness OF
the bears to save their prohts
before it was too late. The advance,
strange TO saw. did not JOY the souls OF the
buIls overrnuch, for the reason that they
did not have much faith in its lasting quail
ties, and very few profited largely by IT..
The winners and losers were the proieS-
sional traders, in whose hands the deal mas
been for the past two weeks. A few We're
found. however. who protested 10 tnihK
that the bulge was the beginning OF al up
turn OF several cents. and that the start
given would carry prices up nearly as 1ar as
1hey have receded lately. Inc market
sagged d C after May struck the 90>sc mar
ket. but after dragging heavily for an hour
y 9nl of | O'Clock NAV
was quoted at 81 &c, an advance from
CURB QUOTATIONS
of Ike. and from yesterdays latest ofhcial
quotations of 11@c. The market was very
strong on the last bulge and although II was
described as being purely local there was
certainly powerful swell to the movement
The short interest contributed very largely
to the advance by its anxiety to cover IL
was not claimed that there was much long
wheat bought for investment, the bulk OF
the business being done, as before stated,
by the room brokers. In explanation OF
this surprising change in the temper OF the
market attention was called to the state
ment of the amount OF wheat
Oh ocean passage to the United
Kingdom and the continent, when
showed an increase of 160.000
bushels. whereas 100000 bushels increase
was looked for; also, to the gradually dl-
minishing receipts at primary points, the
resumption of milling operations in Mime
apolis and to reports OF the lorna
ton of a syndicate of Northwestern
capitalists pledged to buy Is, 00O, 600 bush
els. A good authority says that the Min
neapolis milling crowd has COTTON ''long"
Of very large line of wheat through the
steady selling for week or more past OF
puts. There has been repeated action on
these and a million or two wheat put half
aozen times during the last fortnight. The
Minneapolis crowd is said to be long, prin-
ripally through Foss, Strong & Co. Crosby
& Co. and Hornill 81 Brine, while Duluth
speculating clique, which tails on after
MINNEAPOLIS, is said to be long. through
Clifford & Co. At any rate, just for a min
ute the scalpers and operators who furnish
the bulk of the trading for the Chicago
wheat pit have sold so much wheat at the
low figures that
riley ARE ALARMED.
They believe, too, that they have sold
themselves temporarily into the hands Of
the Minneapolis clique, which they so
heartily hate. Latest private cables were
that Liverpool was very weak, with pro-
nounced downward tendency in spite OF
which the O'Clock closing was the top fig
ures read during the morning. May touched
9115c, but even this figure &c over yester-
days close, did not bring cut very free Of
ferings. In the afternoon the market was
weaker. some of the leading local houses
beng heavy sellers. The close was excited,
&c uuder the highest price, at s4s4c for
December, SAGE for January. S573c for
February, and 81 &c for May, The gain
4, fn1. q W.
shows recovery from yesterday of sc.
The advance to-day was mainly due to
shorts covering, and there is no doubt still
a large short interest in the market, sutti-
Gent to create still higher bulge. if strong
parties lake the buying side. There is no
change in the legitimate situation, how
ever,
CORN WAS WEAK
and lower early, as foreign markets were
quiet and receipts here larger-2S9 cars.
Trading was fair but mostly of a Scalping
nature. The feature of the market was
the large selling OF January by parties who
bought yesterday, but only made break
from $3.50 to So &c, where the market held
until the close, which made 7s@1lc decline
from Yesterday. Year was quiet, operators
still being afraid of manipulation. Sales
ranged at 395g@40c, and closed at 1890.
May was &c lower early, but closed at 4Oc.
Low grades were in good request, and
sample lots brought slight advance.
Oats were sc lower, but fairly active,
and May closed at 311ac.
Receipts of live hogs were lighter than
had been anticipated. and this circumstance,
together with the advance in wheat. gave
the market for swine meat great strength.
Business was only moderate in volume. but
an improvement in prices of every descrip-
ton of product is noted. The lowest
prices record a gain of 15c in cash pork
and 719@1255c for later delivery. Lard
closed 21a@5c higher, and meats 21S@5c
higher.
PETER BERKEY. Pres. E W. ANDERSON Cashier