St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-19
BUYERS ARE RATIFIED.
Everybody Having Gotten on the Bull Side
of Wheat, Prices are Again
Dropping.
Approximations of Squeeze in Year Corn
Cause Strong Upward
Tendency.
Oats and the Provision List Again
Strong and Higher, Closing at
the Advance.
Enormous Transactions in Railroad
Stocks on the Wall Street
Exchange.
Chicago.
Snecial to the Globe.

Chicago.
Special to the Globe.
CHICAGO. Nov. 1S.-Ninety-one cents
was bid on the curb this morning Tor De
cember wheat but the moment the peii
tanned for regular trading it. became evil
dent there was no necessity OF keeping II at
this tipure. for if the idea was to take In a
little heavier load the average could be
lessened. So buyers kept out and let the
sellers open the market, which they dld at
o0s/c for December soor sending the price
down to 9O15@905sc. The market was
steadier to-day than was generally antcl-
pated The opening was 4@9Sc under
Yesterday and not much spirit was SHOWN
either way. Gables were quoted at nrln
and steady, but there was nothing III them
to indicate tendency in any direction.
Consols were firm. An increase III the I'M
ports into the United Kingdom as compared
with the preceding week was not without
softening influence. The tone of the mar
ket was rather weak, but good buying by
shorts of high and low degree and liberal
purchasing by commission houses advanced
prices &c. Offerings became more pouii-
tiful as
THE MARKET ADVANCED,
and at 9116@91A &c for December, 91s4c for
January and csc for May values began to
soften and decline of &c occurred. The
turning point upward began at 9019c for
December. Gle for January and 97Ac for
Nav. and at IL o'clock the market was
once more at the previous top figures.
Trading was not very heavy. and the pit
presented a rather quiet appearance on the
surface at times Fluctuations up to that
hour had been within a range of &c. The
support had come largely from shorts and
the country and the pressure was traced by
the knowing ones to realizing" The
market settled 15@5Sc the last hour of the
long session, and the o'clock closing was
sc below Yesterdays closing. 1t rested at
the put" price. Although the war news
to-day was of very exciting character 1t
did not cut much of a figure, broadening
speculation and the movements OF few
great operators being regarded by the bull
crowd as of greater immediate significance
than battles between the Bulgarians and
Seryians. Increasing bear caution. too,
was one of the noticeable features of the
market to-day, despite
THE DECLINING TENDENCY
of prices. This afternoon the tendency
was to lower prices until toward the
close, when reports that thirty loads had
been taken for export at New York started
proven false, yesterdays argument that
Austria was spelling for war was used the
result being a firm closing Is C higher
than the lowest point touched and &c
lower than yesterday. There were no ex-
mort engagements. Late dispatches from
New York say that millerS were heavy
BUYERS. but that the market closed weak in
the face of these reports. Latest figures
are 9O3l December, 914 January, 971a
Nav. There was less strong buying to-day
than on any previous day OF the week, and
unless something turns up to hold IL beside
the Bulgarian-Servian war, sharp decline
is likely to ensue.
-C Corn showed increased activity during the
greater portion of the day and stronger
feeling prevailed, due to the increased de-
mand for ''shorts" and fair number of
buying orders from ''tailers." Several
large operators bought heavily of year and
started the nervous shorts on run. and
their buying, coupled with the moderate
offerings and fair demand for shipment,
produced an advance on year from 424c to
455c. At the top there was liberal
REALIZING BY sCALPERS,
and the demand being inadequate, reac-
ton to the opening figures resulted. After
several &c advances from bottom prices
the market finally clOSeu SETOnS, DuG g (U
&c over yesterday. November was neg
lected, January at one time touched 1890.
and May 401@c, but the last sales were at
the inside figures, 3S5sc and 401Sc respect
lively. Receipts were fair-20O cars-and
$50 cars were estimated for tomorrow.
The squeeze in November started the pres
ent advance, and this is now supplemented
with like condition on the year. So the
whole list has gone bulling badly, and the
extremely bearish feeling has changed COM
pletely.
There was good trading in November
and May oats November closed at an adj
vance of &c and May at an advance of re,
after having bulged &c above yesterdays
last prices.
Provisions were again full of life to-day.
Pork opened slightly higher than yesterday.
advanced 2O@25c. and closed at about out
side figures Lard closed 715c higher, and
ribs 215@5c higher. Extreme prices were
not maintained on any article in the list,
but the tone was one of great speculative
strength apparently. Packers continue to
sell with freedom and more openly. The
speculation seems to be chiefly local, though
brokers report healthy country inquiry.
PETER BERKEY, Pres. F. W. ANDERSON, Cashier.
c. w. GRIGGS, V. Fres. A. c. ANDERSON, Asst. c.
THE ST. PAUL NATIONAL BANK,
CAPITAL, 100000.
Corner Fifth and Jackson streets