St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-04-14
Spurred OH by War News They Have
a Lively Time in the Wheat
Pit.
Operators Watching the Corn Pit With
AnXiety-Some Heavy Losses
Predicted in Near Future.
The Market Breaks Toward the Close but
the Cereals Remain Above the
Opening.
Provisions Fall Off Below Opening Figures
Financial Facts from Wall
Street.
Chicago.
Special to the Globe.

Special to the Globe.
CHICAGO, April 13.-The Anglo-Russian
war probabilities as mapped out by bristling
headlines in the morning papers put the bulls
and bears on their metal again. With their
coffee they imbibed such quantities of Ro-
maroff aggressiveness as to send them down
town loaded to the muZZle. The opening
tap of the bell was the signal for no end OF
extravagant bidding by the bulls, while those
bears who had the misfortune to be short did
good work for the enemy by grabbing right
and left for everything offered. Consols,
9412 1-6 at the opening were GIG lower
than at the close of the previous session.
This fact was accepted as trustworthy cor
roboration of the morning paper statements
and added to the
ENTHUSIASM OF THE BULLS
and the CONSERVATION of the bears. AT
9015c the opening for May wheat was &c
above Saturdays close. The necessities OF
the shorts and the orders from the country
were not long in making the price OF that
option 81 &c, which was the top notch OF the
day. In spite of the excitement at the open
ing there were plenty Of people about the
floor who, while not particularly anxious TO
back their opinions with any very large sums
in hard cash were exceedingly skeptical on
the question of war probabilities. "All the
excitement we now have is due TO this
cause" said Mr.. H. B. Shaffer.. "Person-
ally,'' he continued, II am not believer in
the probabilities of war between Russia anu
England In my opinion the British gov
eminent is not prepared to cope with any
such power as Russia. In the event that war
should be declared Russia
WOULD HAVE HERAT
inside of six hours" The upward move
ment was brought to a standstill before noon.
The heavy volume of buying orders from
outside was perceptibly decreased before IL
o'clock Wide-awke commission men by
dnt Of close and constant scrutinity OF the
bulletin board where consol quotations are
posted were able to warn their customers at
the first sign of weakness. About noon the
feeling became very nervous and decidedly
unsettled, one trader venturing the predic-
ton" that if this market breaks it will 90
down &c minute right along till the close,
while if we get declaration Of war an even
sharper advance is nearly certain to follow.
But if / were in the market as it looks now
I'd
SELL EVERY BUSHEL
could.'' at this time consols had COM
menced an advance which at the close of the
session had resulted in recovery to 80 for
both money and account At the first indi-
cation of higher consols long wheat began TO
come onto the market. Ream realized ex-
tensively and many other local traders made
efforts to get their profit 1t was rumored
that the Germans were heavy buyers Of con-
soils. This would have easily accounted for
the advance, but few traders bothered their
heads about the cause. The fact was quite
sufficient for the purpose, and an easier feel
ing became prevalent. Few bears were rash
enough to sell short much, and therefore
predictions of rapid decline
WERE NOT VERIFIED.
The lowest touched by May wheat was SOC,
and the close was rather firm at 5000, at
! o'clock. During the afternoon the first trad
ing was slightly lower range, but near the
close the war news came again, and on that
sellers of the morning were active buyers,
and the close was strong about &c below the
top prices of the day at SEC for April, 904c
for May, 9259c for June, and 941sc for July.
1t is thought the visible supply figures will
show a substantial decrease in the visible
supply of wheat for the week. 1t will be in
the vicinity of 500, 900 bushels.
Nose Frazier, the indefatigabe st. Louis
ian, is declared the largest winner in the re-
cent rise in wheat. "Mose," said a very
prominent broker, 81 have no doubt at all
firmly believes that
THIS BULGE THIS WEEK
is all his own handiwork. He began send
ing out messages fortnight ago on an alarm
ing crop situation. i received dozen mes
sages day from him and each message was
half as long as my arm. In each he had n
long preface wherein he declared he owned
not pound of wheat and had not penny's
interest in the market, but he wanted simply
TO set the world right and give the farmer a
show. Then he told of the horrors of the
crop situation. We have no doubt but that
Fraey has been loaded with wheat and that
this Russian war business has coined money
for him. I've no doubt at all either but that
he has been slapping himself on the chest
and telling his ST. Louis friends that his crop
reports, and his crop reports alone,
DID THE BUSINESS"
Norm has been another winner. In three
days 1t is related he drew 500, 900 out of tho
clearing house. Lester has been winner
on corn, and 1t is gossip that his house med
itated squeeze in this grain for May. Sam
Allerton has been another one of the lucky
players about the wheat pit Nat Jones, it is
said, made money on wheat but dropped it
in oats, being driven to cover on a great line
of upward of 1000, 900 bu put out at 31@32c
and taken in at SIC and above. The country
of course has profted, as it invariably does in
any advance. The packers here made the
RIG MONEY IN PROVISIONS.
Corn was excited and higher under heavy
buying by short sellers and some buying By
those who regarded the situation as warrant
ing further advance. After urgent demand
was satisfied there was more pressure to sell
aud the market which had advanced exc
over Saturdays prices dropped back. The
last quotations at 10 O'Clock were about &c
below the highest prices previously realized
during the afternoon. The feeling improved
near the close, the last sales beirg at rather
better figures with n much frmer tone. The
advance in wheat stimulated the demand,
short sellers being the chief buyers, with the
opening for May fully 1c higher than Satur-
days close, ut 41c. Shorts were active buy
ers. Lester appeared 10 be taking the bulk
of all that was offered when 4Slsc was quoted
for May. Noticing the advance in cereals,
some
BOLD AND CONSTITUTIONAL
bears commenced to sell Kammerer re-
sumcd his tactics in that direction, and
Corn King Bob Wallace realized on a
slice OF his 100000 chunk purchased at
about 4Sc. The price gradually declined,
and at the close was 46J$c. Ream is said
to be short Of corn and it is claimed that
Armour must come under 43c or lose on
some millions of bushels. The closing
figures were +4e for April, $3.50 for MAY.
4SSlc for June aud 49Se for July. Oats
participated in the general excitement, SELL
ing up about l iSc above the figures ruling at
the close on Saturday. The general reaction
in all
SPECULATIVE ARTICLES
caused break of about fc, and the close at
.,,.fl,,l- Ms D,,ri.sr ~. f..--.-.