St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-09
A BOOM FOR THE BULLS.
A Heavy Freeze, Sniff of War and a
Day of Rest Cause an
Advance.
Crop Reports More Plentiful Than for
Long Time and the Crowd De-
cidedly Bullish.
The Speculative List Closes Higher and
Stronger, With Provisions the
Weak Spot.
New York Brokers Weary Because Whites
Tactics Have Driven Away Shoals
of Suckers.
Chicago.

CHICAGO, April ga Gay ol resi- hau a
similar effect upon the markets and lungs Oh
the operators Both were, lifted up and
opened strong. The reasons in sight were
decline in consols, which, though slight
enough to be purely speculative, were taken
as an indication that settlement or penang
troubles had not been arrived at, aud that al
WAYS available resource, crop reports. Inc
recent thaw, followed by a sharp freeze, Is
reported to have had very damaging ehect
on winter wheat, and advices come WIN
ouie: uniformity from vast area OF terri
tory. June wheat has become great favor
ite for holders, and May option is being
WORKED FOR QUICK TURNS.
The former opened at SAGE. an advance
of Ike over Mondays close, and, under
the pressure of outside orders, quickly
reached S5Ic. May opened at an advance
of re. ard by 10 O'Clock touched $3.50, with
buvers far more numerous than sellers, with
ont an instant's cessation from the opening
till the early close. The action on the faVorlte
woodworking option, May wheat, was ex-
cited and feyerish. David Dow was heavy
buyer, and a strong effort was made by Love-
Leopold. Bloom, ComstOck and WethereH 10
keep the figure at 63c, and persistent pushing
brought it to S311zc for few moments. AT
this point, however, it became toppy and sup
port was gradually Withdrawn. Under IN
structions outside buyers came in quite
heavily, the
GRANGER HAVING MORE CONFIDENCE
in crop reports than war rumors, the
average rural purchaser having had
his fingers nipped by the recent bel
ligereut tone of the Chicago market.
AS one Spectator cheerfully remarked:
s'The country Spectator knows what an eff
feet a hard freeze or heavy storm will have
on growing wheat, but he has little idea what
influence the closing of the ports in the Black
sea by an English fleet would have on wheat
out here in Illinois. He is not educated up
enough to grab on" s'It would not surprise
me-" said Mr. George Miller, president Of
the United States Distillers' association, on
'change this morning, ''to see the crowd
grabbing for this wheat at 90c per Blu be-
fore long. l would put
THE LIMIT TO THREE WEEKS
1t may 90 to S1'' On being asked on what
he based his figures, he replied: 'There is a
steady stream of crop reports coming in from
all parts of the country, and for one
believe them, that is the greater part OF
them. All indicate great damage and there
cannot be this amount of smoke without some
fire. Farmers are certainly not all in league
with each other" Another member said !:
eve have letters to-day from Illinois, In
diana and the western portion of Ohio, all
indicating great deal of damage. AS an
old farmer in Champagne county puts IT.:
We will have 80 per cent. damage de
probably means they will have half crop"
The unusual increase in exports last week
was source of considerable strength to-day
and was material aid to
BUILEsH TENDENCIES
which had their origin elsewhere. For the
week ending Saturday there were
$50, 900 bushels of wheat and $50, 900
barrels of flour taken, which allowing five
bushels of wheat to barrel of flour, makes
ar increase of about 1,000,0 900 bushels over
the corresponding week last year. The
bullish element drew large draughts of con-
ISOLATION from these figures to-day and de-
duced the argument that in spite of more or
less of falling off in the home demand a
good many
FOREIGNERS ARE EATING
American flour. There was slightly lower
variation in prices on the afternoon board,
but the decline was recovered and the close
was steady at about a above the first prices
of the day. The final quotations were 7SHc
for April, SIC for May, S516c for June, and
S714c for July.
Corn was stronger under the speculative
demand induced by the strength in wheat.
There was nothing specially new noticeable,
the tone varying with that OF wheat. Jim
Love and Seckels in the corn crowd did some
heavy busness-all they could-in changing;
that is, buying May and selling July at q C
difference. About the only prominent buy
are ,rara EiaId Tindlav and Robert Warren
1t is safe to say that every man in the crowd
had orders to sell May at 43c, and for this
reason the market was kept below that point
the bulk of the session. May closed at 42Mc,
&c under the highest point and &c under
the opening. April closed at 3S12c, June at
43c and July at A &c.
OATS WERE VERY STRONG
to-day, the. receipts for the past three days
being only 1879 cars, which failed to supply
the demand. There was a steady demand
for May, which were stiffly held at 1880
$3.50, although the closing was somewhat
easier The latest figures were 29c for April,
32&c for May, 33c for June and 3311Sc for
July.
PROVISIONS WERE STRONGER
early in the day, but free offerings later on
caused some decline. The demand was al
bought largely to provide for outstanding
contracts. Receipts of hogs were only
moderate, and the feeling was strength
eued by the impression that in the
near future they would continue light
Au advance of 15020c was noticed at the
opening, but the advance could not be held
May pork opened at S12, sold up q point,
closing at $l1.S5, the lowest price of the day.
April closed 15c below the opening, at
Sl1.721S. Seller June and July were off 15c
at the close, quotably at $l1 956l12.05. There
was some active trading in May lard, open
ing at $6.S71T and closing point lower.
Closing prices were 2I5c off at $6.S2< for
April, $685. for May, S6.921S for June and
81 for July. Short ribs were quiet, though
rather higher than on Monday, closing at
$5.S75& for April, $5.95 for May, S6.02lS fer
June and S6.12Is for July.
AT THE STOCK YARDS
receipts of cattle, hogs and sheep were
light Business was fairly active and prices
a shade higher for all descriptions. Values
are 25@30c higher on fat cattle than a week
ago and hogs have advanced 15(G20c within
week and there has been an up turn of %
G40c on sheep within the past eight or ten
days. The principal cause of advance is
marked falling off in supply at this point.
As compared with this time last week there
are about 5000 less cattle, 1000 less hogs
aud 5000 less Of sheep.
The Quotations.
Western Associated Press