St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-22
MR.. ARMOUR rs ABULL,
Predicting That Wheat Will Very Soon
Move Up, and the Millers Feel
tbe Same Way.
Prices We're Higher, Trading Active but
Speculative, Due to the Efforts
of Local Talent.
Year Corn shows a Decided Decline.
Oats Advance and Provisions
Were Dull and Fiat,
Stocks Declining Sharply in Wall
Street, the Market Closing Dull
and Featureless.
Chicago.
Special to the Globi

Chicago.
Special to the Globe.
CHICAGO. Dec. 21.-All last week the
local crowd of wheat traders ralded Wheat.
The prices dropped back before their at
lacks nearly cents bushei, and with each
&c decline that was gained the little
s'scalperso yelled with delight. In his
minds eye he saw his latest speculative
eugbear the Minneapolis miller. completely
aumbled and plaintivelY beseeching to be
IeaIt with gently. Yawping and stamping
md boasting and bluffing goes for good
leal in speculation, although some people
10 not know it, Even the little people who
tand on the edge of the pit and when the
ubbub is at its height offer 10. 600 and then
tide in the crowd, help along decline. All
hese things have their influence fora while
II least, so that it is no wonder that last
week, although the millionaire millers of
he Northwest had for their opponents
THE RIFF-RAFF AND BoBTAIL
f the specializing community, they could
lot hold Up the price of wheat. The talk
ltive brokers, who have had some little sue
,ess of late on the bear side, have dropped
INTO the fashion of speaking of the present
1blUGiS VI HilCtG do tllS NDbAiOAS' liz
country is the flippant way in which the
brokers' talk of the party which is bearing
The market when it is going up, or bulling
Il when the price is going down. They did
,ot call the Minneapolis crowd ''the cOun-
nv a month ago when it was short on
wheat and when Nat Jones and n. B.
2eam We're unsuccessfuily trying to
BOOST the price. If the North
western people should stick to
lie long side until the sellers become tired
md frightened and if then the price should
1egin to advance they would be 1.-THE cOun-
NY TO longer. They would then be the
minneapolis crowd" spoken OF with rev.
srence. listened to with respect, and tailed
M if such thing were possible. Which
ever way the tussle comes out it is worth
watching For variety of reasons this is
The first season the Northwestern millerS
have cut any great figure in the speculation
at Chicago. Any accession to the ranks Of
commission payers is of advantage to the
trade and the introduction of a new infiu-
ence in the pit has greatly
HELPED THE MARKET.
Tt would have been very dull without the
millers this year. Il feel just the same On
wheat as l did a month ago." said Mr.. Ar
mour this morning. land have good dea
Of money in it. The pulse is not just right
for an advance just now, but it will get
around there before long. The Northwest
ern millers feel very bUllish, that know"
The markets were very contrary to-day, the
logicians claimed. 1.-THE crowd was and
is working the short side of the
wheat deal, but the market opened
higher and displayed surprising
strength The big reports of corn
4bo, For bn cnff
weather which is so bad for inspection, and
the market was depressed and lower. The
open weather, large run of hogs, lower
prices at the yards, and other bearish in
fluences had little effect on provisions,
which were astonishingly firm. A nervous
packer condensed his views into this sent
ence: ''There are hundred reasons why
provisions should go lower. and only one on
the other side, and that is they don't want
it that way" It was given out early that
the property sold on account OF G. P.
Adams was being bought in. A budget of
BULL. NEWS FROM MINNEAPOLIS
was also bracing in its effects, but after the
market had twice advanced 1c from Satur-
day, the pressure eXerted by the local pro-
fesSionals of the FIRST class" who had gone
in to sell wheat down, was felt and the
market lost some of its previous frmneSs.
The last hour of the long session was not
characterized by unusual activity, and the
tone was rather weak than otherwise, the
/ o'clock closing being 3s@1Ic under the
top, and &c above Saturday. Early
estimates that the visible supply statement
will show a decrease were corrected by
later estimates, which placed the increase
at from 400, 900 to 800. 900 bushels. This
afternoon May wheat advanced to 90Mc,
closing firm at 9019@903sc, and other
months advanced correspondingly.
Corn was dull but rather unsettled, and
advanced sc on year as receipts were
lighter than expected and the grading
poorer. The soft weather also tended to
increase the fears of further letting up in
the quality. On the bulge offerings became
free, owing to the predictions of 725 cars
for tomorrow, and the market became tame
and all the advance was lost. Closing sales
RECORDED A DECLINE
of &c OF year, but no change of import
Rnce on other futures. Year sold at 81 Is "a
5734c and closed at 3719c, January ranged
at 36s5@363lc and closed at 34c, May held
steady at 3977S@393sc and closed with out
side prices asked. Low grades were dull
and 11@1c lower. The drop in year has
reached Sc below highest price.
Oats were quiet and trifle lower. Rye
and barley were dull and without quotable
change.
Provisions opened shade lower
than they closed Saturday, then
recovered buoyantly and held firm at a
trifle above opening. Packers talked very
bearishly, but their offerings were rather
Bparing. They are selling against their
production, but are seemingly not generally
disposed to extend their lines beyond the
resources of their own establishment Mess
pork for February sold at S9.S1l@9.S5,
and closed at $685.; March closed at 1895
and May at 5000. Lard for February
sold at S6@6.O5, closing at $6.O215; March
closed at SOL Short ribs closed at 81. so
for January, S4.s711 for February and S4.95
for March.
PETER BERKEY, Pres. F. W. ANDERSON, Cashier.