St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-18
DOOMED BY THE BULLS.
Grain Markets Record a Sharp Adj
vance Under Heavy Buying by
the Shorts.
Corn Proves the Center of Attraction
for the Day, Showing More Life
Than for Fortnight.
Provisions More Active but Unsettled and
lire ular, with Wide Range
of Prices.
The Stock Market Higher, with Interest Con-
fined to Half Dozen FaYorite
Securities.
Chicago.
Snecia; 10 the Globe.

Special 10 Ine GlOOe
CHICAGO, Feb l7.-On 'change to-day
wheat advanced 5sG9$!c and No. : May soid
at SS5S(eS45Sc clls-1 1t sac. NJ. corn
improved lc with sales at 1890 Htsc ior
May. closing at 4I$4c. Oats were @sc higher
at gle for May. Mess pork lOc higher
Sales for May were at Sl3.25t@l3-3'5s'
closing at l3.35@13. 371z. Lard 5G179c
higher. Snort rios ior NJ sOll at So '27s'9
$50 and closed at So E@6.S0. the
GRAIN MARKETS WERE STRONGER,
and Transactions showed an increased vol
ume in ali headquarters. Wheat was again
quoted dull and lower in Liverpool aud Lon
don, with Confidential demand small, Out
decrease in visible supply and reports OF an
increased inquiry at New York for export,
in connection with stronger feellng III
corn, rendered the shorts uneasy, and In
their desire to cover, prices were bid up &c
from the opening figure, although the ad-
vance was only &c over yesterdays highest
quotations. February wheat opened sc
higher, at 75Hc, sold to 1870 MIrcn
opened lazly at yesterdays closing, 1890,
but sold up to 765gc later; May opened un-
changed at SAC, but later went up to sage.
Alter tine most willing buyers were filed up,
prices reccded 10 the opening figure, but the
recession induced increased buying by local
scalpers There was also more outside de-
maud, and
VALUES AGAIN RALLIED
and closed firm with outside prices asked and
sellers bidding &c less. AT the close quo
tations were 7S2lc February, 7S9c March
fna
opened rather stronger early sales were
slightly below closing prices OF yesterday
TIE decrease in the ''visibe supply" posted
to-day, as CON pared with week ago, was
about 20, 900, which was less than expected,
but neither tnis nor the easier foreign mar
kets reported mad the effect of Increasing the
offerings. the Minnesota nillers nave adj
vsDced their buying prices &c, which some
what influenced the feeling mere. News was
received early that Germany mad passed
protective duty of about 20c per bushel
OH wheat, but this had no effect here. New
York was slightly higher, with report OF
twelve boat loads taken for export The
general feeling amongst the operators was
firmer but this seems to be attributable TO
local nervousness rather than to any favorable
change ia the situation. When prices rule
Tor some time without material change local
trading becomes quite extensive, anu in the
absence OF important news which might IN
duce good buying, such firm spots as noted
to-day are apt to prove only temporary The
Minnesota advance is looked on with good
deal of satisfaction by the ''iongs," as it is
usually followed by a responsive ad-
vance here. About the earliest seller
of any size was Crittepden, who
put out about 200 bushels Of ''long"
wheat. Later and until the close
THE BUYING WAS STEADY
and constant, and INDUCED in by the crowd
generally. The chief support " the quota
tons consists in manipulations by heavy
flour traders, who find 1t impossible to make
money on u slow dragging market, tn at re-
fuse to move up and down and have decided
Oh a system Of manipulation, hoping by
forcing prices upward and creating an ap-
parent hrmness that outsiders will come in
and by buying cause a good advance. They
are also encouraged by the fact
that the low prices give them
the advantage in case Of accidents such
as a crop scare or other contingencies calcu-
lated 10 favor an advance. Anything like a
permanent advance is not looked for while
cables are so dull and export demand so
meagre. The interest OF tue session ccntered
in corn. Statistician Walker, at New York,
who seizes every pretense TO differ with Sta
tisticlan Stone, saw a good chance for a sem
sation to-day, and 50 made the figures on
corn differ from the Chicago ones to the ex-
tent Of ,225, 900 bushels. Instead Of figuring
out an incsease Of 4lS,000 bushels
be announced a decrease of 500, 900
and odd bushels in the visible supply Of this
grain. The corn crowd has been small since
p. B. weare and Billy McHenry ran their
corn corner. Jim Love, Partridge and few
other Spectators have stuck to the pit and
prices mp and forced them down BY making
small purchases or selling out small lots
To-day when the report came from New York
of the discrepancies between the Chicago and
Gotham figures there was
RrsH OF LITTLE SHORTS
TO cover. Love was on hand 70 help the ad-
vance, aud SO was Letter & Co. Both are
believed to be on the bull side. Accordingly
corn was stronger and more active than anv
previous day for a fortnight. TIL. shorts
were frightened at the reported decrease in
the visible supply, and owing to the prevail
ing storm lighter receipts were predicted
for the rest Of the week. The opening sales
were made &c higher than yesterdays clos
ing figures. February stuff was quoted at
81 and May at Ale. advancing later I$G
sc, closing at SSc February, and 4ts{c May.
There vas a fair business In April option at
SIk@SSS<c, closing at SS% @3SiIc.
81, don { see any significance in the ad-
vance Of corn sal trader. The corn
crowd is SO small that tue price can be easily
advanced or depressed by the manipulators.
and this grain viii be simply the football of
Love and his principals until speculation in
It Increases, or until the railroad blockade
Il raised and receipts become natural Corn
is too high compared with wheat"
Up 10 the close there was considerable life
in the corn pit, aud the speculative market
was decidedly lively. Partridge bought at
least 100000 bushels. aud his example was
followed by host of shorts who made a big
effort to avoid being carried up by the sudden
tide
AN ADVANCE IN OATS.
Oats sympa;hized with the more important
grains snd recorded an advance OF Ie.
which, however, was not all sustained The
advance was due largely to covering iu
large llue Of shorts. The close was stradv.
The market was tavorsbly affected by small
receints Of hogs and stronger grain markets.
bat the demand was mainly from scaloers.
aud although prices slightly appreciated aud
closed ~ the outside figures, the routine Of
business was moderate. Ness pork opened
Al SIS 20 for Nav Advanced q, SiS 81 H.