St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-15
Wheat Shorts on the Board Believe
Armour is Responsible for Their
Misfortune.
A Lively Day, the Market Advancing
Three Gents Over Yesterdays
Closing Prices.
Corn and Provisions are Also Creep
ing Above the Zero Market OF
the Week.
The Phenomenal Advance in the New
York stock Market Shows No
Let Up.
Chicago.

CHICAGO, NOV. l4.-W u6dL Is iuolo %"
pensive than it was yesterday. ItsOpened
this morning irregular and higher. Trading
began in January on basis OF S9s4c, the
leaving-off place yesterday being $500
SS5sc. Declarations of war, firmer cables,
a drop i'm consols and scare market in New
York and on the curb, together with con-
firmation, real OF fancied, Of the gossip
about an Armour deal. put the breath OF
speculative life into the wheat crowd. De-
cember went rapidly to 901ac, May going to
971sc and January to Ole. The first trading
in January was On that scale, trading not
beginning until December was well
along on the up grade. The opening seemed
unusually ragged and irregular, other
futures trailing along after December with
out regard for appearances. A great many
of the professionals have become satisfied
that there is going to be a deal in January
wheat and they figure it out in the follow
ing way, viz: That Armour has been buy
ing December and January steadily for
weeks and selling May, thus getting con-
troll of the cash property and providing for
its disposition later, line of policy he al
ways pursues in his great deals. They re-
call his oft-repeated remark about know.
ing where he can put his hand on actual
stuff, and letting
THE WIND DEAL
take care of itself, and they affect to be-
lieve that he has already foundation for one
of his sweeps, taking Ream and few other
stayers with large capital and great nerve
into his confidence. The bears ridicule this
talk and say it is bosh, and declare that
neither Armour nor anybody else would
dare undertake to run deal and take the
risk of having unknown millions OF grain
emptied on them from the Northwest.
They say, furthermore, that this furry is
merely ruse to catch the lambs and sell them
wheat nobody else will buy. Both parties.
the believers and the unbelevers. are strong
and opinonated. They are in fighting trim.
The market to-day was excited and wild.
New York Topped around recklessly. but
forged ahead strongly after every display
of weakness, and our own market behaved
much the same way. 1t suffered several
severe relapses. but recovered and grew
stronger all the time. War news was the
cause assigned, and that undoubtedly had
great deal to do with the development OF
bull sentiment. Several careful operators
who sold on yesterdays bulge bought III
again at higher prices, and the shorts in
dulged in a scramble During the last half
hour
STRENGTH WAS INFUSED
into the markets by news Of an advance by
the Servian army Quotations were marked
up &c on receipt of this intelligence, and
the market closed at the top for all months
except December which sold at 903sc, or
1s5c better than Saturday. Cash closed at
S94c, January at 915sc and May at Csc, a
general advance of 27s@21ac having been
established upon yesterdays last prices.
Corn opened 36@Hc higher and adj
vanced. The demand for cash and the
speculative futures were active and
holders were independent. High prices
were paid for cash property, but
later the market weakened and values de-
preciated, cash and November selling down
close May and year rallied. year closing the
same as Yesterday and May &c higher
Provisions were strong and higher. A
satisfactory speculative inquiry was no
ticed. but demand for cash product was re-
ported as being light. January pork at one
time sold zoe higher than yesterday and
closed 121sc higher. The improvement in
February was 15c and in November and
December 10c. Lard closed 5@71Sc better,
and ribs rregularly higher. cash being 10c
higher, January 215c above, February sc
above and November without change.
DAILY BUSINESS
recites the following hard facts concerning
the provisions: ut is barely possible that
current of the provision market the last
week was anticipated by some, but to the
majority it was something of q surprise.
Receipts of hogs here at Chicago will foot
up full quarter of million for the last
six working days, and for the first half of
the first month of winter-packing season
will aggregate 10000 head. with good
prospects that for the month the receipts
will reach nearly if not fully 100000
head. At other prominent packing points
receipts of hogs have also been liberal,
and the packing in the West so far
is nearly double what it was the
corresponding time last year, 100000
against 22S. In point of quality the
hog market has been very fair. Notwith
standing the above facts we have had not
only strong, but an advancing provision
market, and very fair activity. when attend
ant circumstances would seem to have iusti-
fed rather weak market. Pork advanced
nearly SOC per barrel; lard 15@1711c per
100 lbs, and meats good nc per To. The
closing prices tonight Saturday being
nearly at the top reached during the week.