St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-13
MONDAYS MARKETS.
The Leading Cereal Has a
Very Turbulent Day
Of 1t.
And Closes Somewhat Lower
Than the Final Quotations
Of Saturday.
A RumOr AfOat That the lew York
Report VIII Show Heavy De-
crease in Visible Supply.
Corn Half Cent Lower Oats Likewise,
and Provisions Continue About
Steady.
A Rally at the Finish in Wall Street,
Gould, Sloan, Morgan and sage Form
New Bull Pool.
CHICAGO.
special Telegram to the Globe.

CHICAGO, Jan. 12.-There was a fair de-
gree Of activity on change to-day, but the
feeling was unsettled, and, although there
We periods Of strength, values in the grain
pits ruled considerably lower on an averege.
This was mainly due 10 the bearish feeling
Of the crowd, induced by local influences, for
all others were rather OF frming nature
than otherwise. Wheat for the day showed
decline OF &c, closing at S05lc for Febru-
arr and S6$4c for May. Corn was influenced
mainly by wheat, and closed as@15c lower at
362+c for February and 4015c for May. Oats
were weaker, closing ! lc lower for February
at 264c and $s c lower for May at 29Ic
Provisions were stronger on the whole, with
q higher opening, followed By decline,
both in sympathy with other articles. Then
there was an advance and final close at
near the opening figures. Pork at the close
showed aD advance Of zoe for February at
Sl2 and OF l71[c for May at Sl2 42I. Lard
closed 2]Zc higher at So. s. for February and
t7.l21z for May. Ribs closed 71lc higher
for February at SO % and l0c higher for May
at S6.325l. The feeling on the afternoon
board was stronger
Most of the factors which usually influence
wheat, pointed toward higher prices this fore
noon. Liverpool and London cables quoted
the British market firm a2d a shade higher.
The cold weather reports Of further drop in
the temperature in the northwest and fears
for the safety of the winter wheat, also in
dueed free buying by the shorts at the open
Ing. They were quickly followed by heavy
door traders, who took large lines for an ad-
vance, AMI sales were recorded at an appre
citation Of q c on Saturdays close. The adj
vance. induced free selling by the longs, who
had carried wheat over from last week.
Reports from the northwest also represented
large deliveries of spring wheat at the leading
northern points, the aggregate being placed
at l, 400, 0O0 bushels, against 100000 last
Monday, and the increased selling pressure
caused break Of sole, but again rallied 10
nearly the highest prices of the day on re-
ports that the visible supply complied
In New York will show decrease Of
1,25000O bushels. This was materially
strengthened by 4 reported shrinkage in
stock at New York Of s84, 900 bushels since
last Monday. There were also reports that
&c, but the local trading fraternity were
bears almost to man, and there was also
considerable country realizing the effect be-
ing 10 start prices down, aud the close on
the morning board was about l lsc below top
figures. In the afternoon stronger feeling
was developed on reports Of increased export
purchases In New York, and prices went up
&c at the close. February opened at S114,
got up to 81 sc, down to soc, and closed at
500. May opened at s7l5c, went up to SSc,
down to s6lsc, aud closed at S62t The
Kent brokers were heavy sellers on short ac-
count, Il Is said. Billy Murray was unload
ing and so was Adams. While Nat Jones and
Ream also took a hand at hammerng down
the market. Clifford tried hard to bull the
market, and at the close Murray swung
around and was n buyer.
, A prominent commission man gives the
following good advice 10 those who contem-
plate investing; "This Is the kind Of a
market that dealers who trade on small mar
gins should let alone, and no one should
cover unless they can put up sc per bushel
All small margin operators are pretty sure 10
lose money aud those who give discretionary
orders are also likely 10 get left. In short
none should speculate without having some
settled conviction as to the course Of the
markets, having determination 70 fight 1t
put ON that line aud not expect his commits
sion man 10 make the money FOR him on dis
.rctouary orders
''The heavy selling OF the last few days" :"
said G. T. Everiugham, ''has had a decidedly
weakening effect on the general feeling, aud,
though the actual decline secured has been
small, there IS growing disposition among
The crowd to change over 10 the short side.
/ believe that this is exactly what large oper
tors are working for, aud that II they can
ever break the market they will become heavy
buyers for another advance. doubt, how
ever, Il they will be successful in breaking 1t
much below to- day lowest point"
said Abe Poole ''Thr market is heavy
aud declining There is no vim left 10 IT,
look for lower prices
"Therc is a good deal Of long wheat held
yet" said Arthur Orr, of Orr, Critteuden "
Comes. 'Sonc OF It is held for further profit
and some OF r Is held 20 await profit This
IL too much Of menace Tor the market /
think the figures will ~ some lower"
Bliss explains The situation hy saving that
there is more wheat in the country than the
country has auy use for.
Dwight 4 Gillette view to-dav's break as
healthy one, aud are disposed 10 think that
Is per cent, OF the Minnesota wheat is vet in
the farmers hands
Corn was dull all through, aud developed
few ucw features. Liverpool WAS quiet aud
"a per ccual lower, but Marx Lane quoted
an advance OF "a per quarter on cargoes
of American mixed. The receipts TODAY
werc ~ cars against PSI SatnolAy. with
only thirty-fve o; this number grading NJ
:. New York and s. Louis were bo,h i,G
3. lower The poor quality OF the receipts
undoubtedly hsd much 10 do in sustaining
prices. NAY opened al 405sc. and on active
buyinE by Love. Irwin. and ., ". Evering-
ham aud NcClcary, advanced sc, ~. .c be-
ing the outside price. Later the weakness in
uhesi Affected il uufavorably. and Kan
merer, Germaiue. Dupee. Graham, Love. IT.
win sud Orr became quite FREE sellers. work
Ing the market down 20 4O%c. the close BE-
ing - 40;sc February opcnrd al Saturday :
elose. S5Ac. went up % STAc. down 10
s6Ae. and closed a. S6s.c. The feeling on
the Afternoon board vas stronger. bgi prices
remained unchanged.
Provisions werv unsettled. bat values av-
erszcd higher and the general feeling tea5ed
L0sArd stronger market. There vas con