St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-09
The Wheat Markets "Bulled" by
Spectators, but Beared'' by
the Snow Storm.
Provisions Exhibit Marvellous Strength, May
Pork c Osing at an Advance on Its
Way to Higher Prices.
New York stock Market Exhibiting More
Life and Strength-Specnlations as
to the Future.
Chicago.



airy, and under some early buying orders
from without and pretty strong bull feeling
from within, prices were pushed up 5sc
higher for MAY soon after opening. Under
liberal offerings the market fell of, howevery
closing 5gc below the opening at $3.50 for
May. Corn opened higher and stronger,
seemingly Independent of the Influences
surrounding wheat February stuff sold to
3795c, and May touched 41c as the highest
point Of the day. The market was easier
later, closing at $500 February and 4035c
May. The trade in oats was dull all day.
PRICES RANGING LOWER
in sympathy with other grains. Receipts
were light, and speculative demand slow at
bestand confined almost exclusively TO the
avoption At the close prices were lower,27c
being asked for February, and May sold of
re. closing 81 3O]Zc. Provisions we're the
strongest articles on the floor, and trading
was livelier than for many long day. The
opening was 5@1Oc higher with later ad-
vdnces fully sustained at the close.
The grain markets showed about the same
erratic course that was the chief Characteristic
Of Yesterdays trading. Wheat DEVELOPED
liberal degree Of speculative activity, opening
arm and advancing E@55c on last even
lngs closing figures, but there was an alb
seuce Of supporting factors Of 4 pronounced
character, the eastern seaboard and
BEITIsE MARKETS
being tame and the former weak. Outside
buying orders we're smaller. Receipts at
eleven Of the leading markets for the week
exceeded the shipments over 100000
bushels. There was nothing in foreign war
news to encourage thinking operators to buy.
The snow went far to allay previous fears re-
garting the safety OF the winter wheat, and
when the early buyers, who were mainly
shorts wanted to even up for the week, or
iucousiderate scalpers who bought because
they imagined that prices we're about 10 go
mp, had rot what they wanted, die bidding
slowed up. and o weak feeling developed. 1t
was also given out that about 100000
bushels held on New York accounts was lin
tied on a stop at 93]Ic. With a view TO Great
ing a panic BY striking out such large line,
the wreckcrs commenced
a VIGOROUS LAUNDERING
OF prices, and by liberal selling forced a de-
cline Of re below the supposed limit on the
OF mentioned. but wheat failed to come out.
A few strong bull operators, seeing that the
bears had sold them selves into a hole, decided
on flank movement, and bv liberal buying
started prices on the up grade. The bears,
seeing they were caught 10 their own trap
commenced furious bidding to cover their
shorts, and an advance Of 2f@Tc followed
Daring the early hour there wac little demand
at the advance. and prices again receded &c
aud closed steady al A@35c over the lowest
figures selling at 772[c February aud s3Ee
for May Wheat to-day was bulled by Sid
Kcnrs purchases, but beared by the beauti-
full snow storm which will put
A oU1ETUs on CROP sCAREs
for short lime The week taken as a whole
has developed nothing particularly inter
cstug In relation to speculation in grain
and provisions. Those Of the lambs who
have not been forced to lay down their
loads Of wheat, are stubbornly and sullenly
unrcsuouslyc to the attacks Of big bears.
Altogether hey still own considerable wheat
aud would very much like profit on il. II
they fight IL on this line all winter they
may got their profit but most Of them would
sell at a loss now On Thursday May wheat
sold uu 90 Soc. Crops damaged by watar
and ice in the southwest was the
ALLEGED CAUSE
OF the advance. but ON the day following It
was strougl, suspected that the report had
emauated from the brairs Of several ST.
Louis sprcuutors who bad wheat to sell at
Soc Az any rate, when the price touched
that figure they were discovered to be uu
loading through their brokers here in guam
tics which sent prices down again. 1t has
since been stated that so far no great amount
~ injury 10 the winter wheat crop has re-
suited from the late extremes In the weather.
TIE bears claim 20 get some comfort out Of
the reports that tie amount OF wheat on the
passage to
EUROPEAN PORTS
Is rapidly increasing, They also point with
satisfaction 10 the visible supply, still
at nearly its maximum and Yesterday a gen
tlcmau who leans toward the bear side Of the
question exhibited ms a result Of some hard
figuring a statement Of the situation. wherein
100000 600 bushels represented the sum
total of wheat anoat on the Pacific coast, aud
that which bad accumulated at various At
autjc aul other shipping ceutcrs. Within
three DAYS. however. freight rates have been
getting arrner aud very big bears consider
atlv weaker The Fac, that the railroads arr
neither reducing their rates nor granting
SPECIAL RATES
20 individual shippers seems 20 refute the
tacar, that wheat on passage is rapidly accu-
mulat.u-. In such case shippers would not
feel justified 10 sending grain forward ut The
regular rates. Cables were dull for both corn
on spot and 20 arrive. with slightly easier
prices. The market opened here for May De
livery az 50 O. a shade higher than it closed
yesterday. sold as high as 401sc then de-
cliucd Go +otic. at which IL closed. Had not
the market Tor to- prodac; been SO strong
c'-u would have declined rather more to-day,
one reason for this being the fact that owing
70 tae Temporary inability OF some OF the
eastern roads 90 handle allo; The grain offered
thcu. the
SAFE OF CASH CORK
was lighter tc-ilv than for several DAYS past.
A. With wheat. there seems o. De plenty OF
BUYERS on every decline. sod there are plenty
o. bro,crs who are firm believers in FAR better
prices.
"Waa, DO YOU think about May psrkl"
vas the question which men asked OF their
ueisshrrs 90 tae d,or % day. Il the fellow
iuscircd ~ was honest. De said be didnt
know anything, Tor this wss the truth OF it,
Ca, there were an sorts " assumptions Of