St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-11
The Bulls Again Get the Upper Hand
Wheat Closes Higher and
Quite Firm.
Colder Weather and the Usual Crop
Scares the Cause of the
Advance.
Corn ModestlY Active, Oats Quiet but Firm
and Provisions Stronger
and Higher.
fhe Changers Show Marked Improvement
IN the Stock Market, Lackawanna
Closing Weaker.
Chicago.
Special to the Globe.

Ing n HlSucI, ~ OdIS
no material change, closing at 315sc for
May Provisions were quiet and dull early,
but firmed up and closed higher at S12.7779
for pork, S7.O715 lard and $6.45 ribs, all for
May.
WHEAT OPENED FIRMER.
The first trading being about nc over the
closing figures of yesterday. There was
no special excitement noticeable at
any time during the afternoon ses-
sion, but there seemed to be
somewhat stronger undertone than
has recently prevailed. Some of the private
cables have been stronger as to the markets,
and intimated that the political outlook was
less satisfactory. This had the effect of cur
failing the offerings here, conservative oper-
ators preferring to await the final Issue OF
the negotiations between England and Rus
STA, which at any time might take serious
turn. But all conditions affecting the mar
kets were of a strengthening character and
brought about slight advances throughout
the grain lists. which were quite well sus
tanned. Colder weather, a slight decrease in
consols and the usual crop talk brought out a
good line Of bulls in wheat during the
first few hours. May wheel opened
at SO14c, sold up irregularly to S114c, reacted
and closed at S0Isc at l o'clock. From all
quarters there were complaints of lack of
outside orders. The reported increase Of
144, $50 bushels in the visible supply was
somewhat disappointing, as larger figures
were looked for. Some statisticians have
placed the figures as 400, 900 bushels. Added
TO this several long lines Of shorts were
ordered covered, notable among them being
that Of Cotrell of New York, and during the
day George Smith, Field, Lndley g. Co., Robert
Smith and Alexander Geddes took all the
large lots in sight. Nat Jones continued
to sell, but the market was too strong and
about noon he concluded to
TAKE A REST.
While transactions were not above the
average there was an under current of
strength which was we'll maintained at the
close. Additional crop reports sending prices
higher, and active trading was INDUCED in.
At the opening March wheat was quoted at
655c, and although 1scwas lost under fav-
orable influences, the highest point of the
day-76c-was theclosing figure. April was
quiet and but little trading was reported,
closing at 76Ic. May touched S19sc, just
156c higher than yesterdays closing price,
and closing at that figure. June closed at
S25Sc, and July at S37sc.
''The natural law Of supply and
demand is what imparts strength
to the market this morning."
said veteran broker as he cautiously
placed his forefnger along his nose. sit
may be that some Of the boys are inclined to
speculate little in futures, but as whole
these tran sactions mean real stuff"
Then he stepped over to the pit and went
long on $4,000 bushels of May wheat.
eyes, sir; l am still BULL" said George
Brine this afternoon. "While war seems i'm
probable operations are now attended with
unusual risks, as should ever warm diplo-
matte correspondence between the two coun-
tries named occur, very sharp
advance would result, but l can see
nothing short OF some such outside stimulus
which can maintain even the current quota
tons. But oven though there be no war, and
although prices later on should be much
lower, ! think, in the meantime, under the
circumstances suggested, we will have an ac-
tive speculative market with a sharp advanc-
ing tendency"
CORN WAS MODERATELY ACTIVE
and the demand kept pace with the offerings,
and all classes of buyers were in attendance.
Tue feeling developed was one of firmness,
and May futures closed &c higher than
twenty-four hours ago Sales for May opened
at Ace, aud the range during the DIV was at
42@42}9c with the closing sale at 4225c.
Sales for March were at 3S1{c,
ranging at 9SH@3S9Ic and closing at 3S3Sc.
April was very quiet, opening ut $3.50 seller
and closed at 3S5sc. June closed at 1850,
sc higher than yesterday. The visible sup.
ply report showed an increase of nearly
200, 900 bushels which had a weakening
effect, Oats were lightly traded in in a spec
uative way, while everything else beside
sample trade was let alone. Cash, II traded
in, would be about 2Ts4c. May opened &c
higher at 279&c, advanced to 2Sc and closed
lsc lower at 27Tkc. The same signs of
life were observable in pork, with
steady demand at slightly increased prices, but
lard still remained in quiet condition.
at is altogether too quiet to be safe to touch
Just now, and 1 am looking for n boost
his fingers burned under somewhat similar
circumstances last year. During the after
noon the strength in wheat caused good
speculative inquiry and prices ruled higher,
and the market
CLOSED AT THE HIGHEST FIGURES
Of the day. Mess pork for May opened at
Sl2.65, advanced to s12.77}S, and closed at
that figure. Cash stuff at the close showed
gain of l0c over yesterdays latest figures,
being quoted at $l2.69].. April closed at
$l2.60 and June at S12.STK. !
Cash lard opened at $500, |
advanced to $685.. closing firm at that figure. |
April was in light request ranging from
S697x@ 300. May was in but little request, |
and offerings were small at prices ranging |
from sT.O9H@T closing at s7.O7K. |
Only limited trade was reported in the /
market for short ribs, though the close was
advanced aud quite firm. The closing QUO
tatious were S6.saiS cash, $685. April, So. IS /
May, and $3.50 June.
AT THE STOCK YARDS
the receipts were once more up to fair av-
ersge, and business in general way was
fairly active, with prices on cattle
aud hogs a shade lower The Quail
ity OF hogs was rather below the
average with light sorts command
ing premium over heavy
packers bought spariagly, and one or two of
the big companies were out Of the market
altogether.
The Quotations
Western Associated Press