St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-24
The Tendency Upward in All Markets
in Both Chicago and New
York.
The Cereal Gain From Quarter to
FiYe-Eighths Cents on the
Chief Options.
Provisions Rise in Sympathy With Grains
and Close Trifle Higher ALI
Around.
Wall Street Firm at the Finish, the Quota
tons Averaging About the Best
Of the Day.
CHICAGO.
rSpecial Te,ecram 70 the GLOBE.

Especial Telegram 10 the Globe.
CmCAeo, Jan. 23.-The markets to-day
were only fairly active. but the feeling on
the whole was quite strong and at the close
all leading articles showed an advance, wheat
closing &c higher at at $500 for May, corn
closing re higher for February at 3Ssgc
and &c higher for May at 41%c, and oats
35C055c higher at 311lc for May. Provisions
shared in the strength of grain, and May
pork at the close was 12Hc higher, at
sl2.471l, May lard l0c higher at S7.071E,
and May ribs Toe higher at S6.37Il.
Wheat opened steady at about yesterdays
closing prices, S65%c for May, at which a
fair business was done during the first half
hour of the session. Later there was an in
creased demand from short sellers and an
advance TO S655c. At this point the bears
fought the advance stubbornly and succeeded
in hammerlng the market down again to
opening prices, but lower it would not 90
and the bulls, raIlying, sent it up again
shortly before the close Of the morning
board 10 SIC. The bears looked discouraged
at this, 10 have labored all the week with a
market which seemed half inclined TO favor
them Temporarily, for this return was enough
10 dishearten anybody. The principal buy
ers of yesterday were the buyers of to-day.
Cottrell added several good sized lots to his
already large sized holdings. Driver still
wanted more wheat and Milmine & Bodman,
Clifford. and a lot Of other traders Of more
or less consequence appeared to think
the cereal a good thing to have
in the family. For two or three days May
wheat has made almost successful efforts TO
reach the SIC point. To-day there was an
aid which was then lacking. Stocks were
strong and Wall street, seeing its usual
visions Of prosperity under such circum-
stances, concluded that 1t could afford to bull
wheat. During the greater part of the ses-
sion the range OK fluctuations was almost too
narrow to afford scalpers many opportunities,
but, such as were offered, they made the most
Of The attitude OF the clam bs'' was quiet
but com plscent. II was plain that their con-
idence still held firm, though they were
rather lockers on than active operators
Cables quoted Liverpool rather weaker, with
prices unchanged and very little doing.
Mark Lane was steady, with light arrivals
afternoon board was, on the whole, easier,
although extreme outside prices were realized
at the opening. New York was represented
US waxing easier, the last quotations from
that market showing but a c improvement
over yesterdays close for near deliveries and
none at all for May. The last sales hero
were at about u advance over those Of the
same time yesterday, February closing at
5000 and Nav at s6&c.
"Thc constant increase In the movement
10 Europe" said A. NJ. Wright, 'ln conuec-
ton vita the growing tendency of capitalists
TO buy for Investment are strong features Of
the market, aud 90 far to increase my faith
that prices will ere long show good, healthy
appreciation"
"The outlook seems TO favor an improve
ment IN value" said Geo. Stone. 'The
New York stock is reduced to about 6 1000, 900
bushels; Philadelphia and Baltimore have
less than l,75o,OOO in both markets, and
with the improving demand for spring wheat
in Great Britain, expect to see considerable
OF our stock moved out before spring, and,
after the opening OF navigation look for bare
seaboard markets and such rapid reduction
Of western stocks rs viii surprise the bears
who have been so worried as 20 how our ac-
cumulations were 10 be carried -
Minine * Bodman say: "All seem afraid
10 sell wheat short, and the bulls seem to
have about all the load they wish 10 carry.
II We could get the market over STc, / think
there would be plenty Of sellers, and, on the
other hand, if II drops below see, those al
ready long would likely buy more to average
down their present holdings aud the shorts
would no doubt buy freely on any break now
The market can hardly be called weak as
there seems to be no pressure to sell. The
Eight Is now largely local one between a few
large local operators Il Is difficult to say
which will win. The market has been ner-
vous and will respond quickly to any outside
influences We feel that the market is a
tribe strained and will yield quickly to lower
public cables
The crowd leaned toward the bull side. A
good demand for the cash article. light re
ceipts aud au advance IN New York. accom-
panied by something in the nature OF a
squeeze there, advanced the price Of May to
4lAc at which point It closed few short
sellers. who bad apparently lost their bear
iugs helped things along by covering. aud
other traders figured as investors. Liverpool
was steady GU corn, but Mark Lane was ,
pence per quarter lower FOR American mixed.
January steamer corn was quoted AZ -
Eblltugs y pence. aud February steamer al
- shilliugs pence. The receipts to-day werc
l46 cars against 95S Yesterday. and out Of
this number q grade No, ,. In spite Of all
the bear predictions aud movements sud
su enormous official estimate Of the crop. the
naked facts srs that corn Is strong, and
shippers can hardly get what they want to Gil
their orders. Cash corn Ia store is very slow,
but sample corn on track IS lively enough
u CRuno, help thinking" said q s
Everugham, "thAt corn Is a good invest
ment II bought on weak spots. -
The strength In oats continues and in
srcascs March oats opened Ne higher this
morning, while Nav advanced ikc, and both
options held their ground, 10. Il is not al
al impossible that The cat deal viii become
vastly more prominent than 1t is nov before
he next crop arrives.
Influenced by continued light receipts o,
hogs, all kinds Of product opened drm. and
ssiaes, under god demand from short
sellers. sharply advanced. The volume Of
trading was light. sud offerings, being only
moderate, BUYERS bad 10 bid up. When this
aeusSnd was satisfied ,he tone was easter aud
he elosc this afternoon is somewhat below
he extreme prices reached. PORK vas the
most scuvr article handled Tor future deliv-
~. February opened TA.e higher al Sis.05
aud advanced 10 Sls.l5sl, but settled OF to
BE. ts's a. The close. Nav opened * hiEhe
n sls40 aud vent up 70 ls.5S. cl0sing
Eusny a. $l2&5ts Lard received a little