St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-06-05
Clique Manipulations Make an Active Day,
Grain and Provisions Scoring
Sharp Advance.
Contradictions of Yesterdays Bear Argu-
ments Send Wheat Upward
Two Cents,
While Other Cereals. Though Not So
Active, Approach the High
Water Mark.
Stocks at New York Dull at the Open
ing--Financial and Other
Markets.
Chicago.
S0epial m the GlOhe


ierdav turned bulls to-day There was the
iveliest seralnbling to cover shorts and buy
long stuff that has been seen for many
dav. Influences have been ripening and
concentrating for couple of months for a
sharp bull campaign in wheat, and present
aDpearanceS indicate that it has already
commenced. Large numbers of capitalists
and heavy men are now on the long side OF
wheat for good. round upturn. Every
thing fafors that side of the market now,
except the possibility Of q cholera visitation
this summer The visible supply argument
has lost about all of its force, as IL would
not take long to lower the present pile
should foreign demand again spring up.
The crop reports grow worse and worse
every day. and country spectators believe
them, whether local bears do or not. New
York. ST Louis and Chicago are equally in
terested in this movement, and If the par
ties carry out their intention wheat is
destined to see 81 bushel
BEFORE THE SNOW FLIES.
Of course. there will be many set backs
and sick spells" 10 an advancing market
like the present one, but the prevailing ten
dency and ultimate outcome is thought TO
be surely upward. At least this is now the
feeling with the majority of traders.
This was great day for the bulls. The
first advieeS posted in the morning were i'll
their favor. being a statement showing a
large decrease in the amounts of grain on
passage to the continent and the United
Kingdom and after this starter the news
seemed TO run pretty much in the same
groove. all favorlng the holders of the stuff.
There were. as there always is, frequent
slight reactions, but the general tendency
was upward. and the close of the morning
session found prices in wheat an even ?
cents higher than those current yesterday
afternoon. Doubtless a portion of this I'M
provement would have
TAKEN PLACE ANYWAY,
in the character of a natural reaction, on
the theory that whenever there is an action
there is later counter action. Thus strength
came from dispatches denying the reported
cholera epidemic in Sydney and MarseilleS,
which rumorS. last evening, were the cause
OF a NEST pronounced weakness. The
opening in July was S735c, and this also
was the lowest paid. An irregular adj
vance vas established until the market
touched sake. from which point it grad
uallv eased back to S9c, where it stood at
l o'clock. &c over last nights closing.
On the afternoon board the market de-
veloped greater strength and the close was
fTmer and very strong. Latest figures
were S71lc for June, 'S935e for July, 9112c
for August. $3.50 for September. The
ground, work plan of the market to-day was
about the same as that shown yesterday
when local houses of high standing sold
wheat right and left all the morning and in
the afternoon sprang a cholera scare to de-
press the market. The figuring was SO hne
that they were enabled to
TDTon
of about 1c busheI on sales running up
we'll in the millions. To-day, it is said, the
boss cOnspiratOrs were Jones. Linn, Ed
ridge and Roche. with sort OF fielder in
the person Of Noses Fraley at st. Louis.
They wanted bulge in wheat, so they
simply went to work and made one. Kan
sas and Missouri advices are that there will
not be enough winter wheat for seed and
bread. a5It is understood that the state
board of agriculture of the former state
will tomorrow issue a statement placing
the new crop at l., 000 coo bu, as against
$4,000. 0CO in 1854, rs, 600, geo in 1888 and
4. coo. 600 in 1882. Two-thirds OF the
cash wheat is held or else controlled by
Armour and EgglestOn, and EgglestOn
wheat besides, is said practically to be
controlled by Armour. Now" said a
commission man, with Armour so largely
interested in the cash market, Eve no doubt
that ne keeps well posted as to
SPECULATIVE SITUATION,
too. I think he knows as much about this
little bulge as anybody else, and probably
more" People this morning." said
LindbIom, ''d0n't take any stock in the
cholera scare of last night. Then there has
been a decrease of over LOCO, 600 bushels
in the amount atlOat, and besides some
speculative effort at bulling. Between
these YOU can find the reasons for to-
days advances.
Corn did not advance as much nor as rap
idly as wheat, although it opened some
higher and strobe along to 4615c for July
and August in short order. At this point,
however it seemed to ''stick" for some
reason. Of course everyone knows that
corn is much higher than wheat, in proper
ton, already, and that the best chances for
speculation are in the other pit. But still
the market is equally firm and prom
ises equally well in the future. Liverpool
reported a downward tendency, but it
HAD NO EFFECT,
and the amount on passage was reported to
be 80, 600 quarters less than last week. Re
ceipts to-day were fair, but the new crop is
backward and late, and it almost makes one
tremble TO think OF the consequences should
any irreparable damage happen to it. A
very hot summer or another pOOr crop is al
ready thought to be a certainty. The mar
ket closed steady at about lie advance over
yesterday, at 463lc June, 467sc July, 468c
August, 4615c September.
Oats were in good demand, mainly to fill
outstanding contracts, and prices were
frmer and higher under the influence of
light receipts and in sympathy with wheat.
The closing figures on No. 2, as compared
WithShose twenty-four hours ago, show al
advance of 3I(055c for June and July and
re for August and September. Latest
prices were 1890 June, 3319c July, 2S1ac
August, 2715c September.
Provisions opened slightly firmer, but
ruled dull throughout the entire morning
session. Towards the close the weakness
In grain caused free offerings and all early
advance was lost, the last sales having been
at figures ruling yesterday afternoon and
the inside OF the day. Prospective heavier
receipts of hogs caused a weak undertone
and prevented the customary sympathy
with the advancing grain markets. This
afternoon there was an easier tone, and all
the product was literally offered. Closing
prices were the lowest Of the day, and were
slightly below those of yesterday. Pork
closed at S10.27%@1O.35 for June and
July. Lard unchanged at S. 521l @6.57L
for June and July. Short ribs $3.50
$50, for the same months.
The Quotations.
CrTCACO lime 4-FlOur o11iat ond I'm