St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-12
Wheat Takes the Up Grade and the
Bear Party are Completely
Overwhelmed.
War News and Crop Reports RESPONSE
BILE for the Advance. VIII. oh is
Sudden and Marked.
Wheat Closes &c Higher, Corn Advances, Oats
Braeed Up and Provisions Higher
and Firm.
The Stock Market Suffers Slight Decline
But the Changers Hold Yesterdays
Advance.
Chicago.
Special to the Globe.


Special to the Globe.
CHICAGO, March 1.-THE markets openen
higher to-day, under the influence OF foreign
news. May wheat sold at Sl5S@S4c, closing
at S34c. May corn sold at 421994Sc, clos
ing at 42$Ic, and oats for the same month
ruled. &c higher than yesterdays, closing
firm. Provisions were active and netter
prices ruled, closing higher than yesterday
closing. The cosings for May were; FORK
$12. go, lard s7.0715, short ribs $3.50. The
opening was stronger than for several days
and excited from the start, the advance De-
ing attributed to the decline in consols ana
the crop reports. The war news was sufi-
GENTLY authentic, and the situation between
England and Russia so strained that
the market continued greatly excited
throughout, and higher rates naturally ruled.
Rapid fluctuations and total range OF &c
over the opening prices afforded ample mar
gins for scalper's deals, which we're assidu-
ously taken advantage of.
''Can it be possible that everybodyis going
wild and determined to buy May wheat at
see and upwards!' said leading bear who
had backed his opinion that it would be
falling market ''More lunatic asylums are
needed,'' was added as the figure showed
825Ic, and he proceeded to cover.
Eyes, we're having it all our own way
now," chirped bull. "And the poor but
honest granger is liable to
SEE DOLLAR WHEAT AGAIN
before he is gathered to his fathers and
mothers. AS soon as he learns that Afghan
istan has declared war on Russia, and that
India is getting ready to march on England,
his heart will grow light again, and his pock-
cts will bulge with good silver dollars, each
one representing a bushel of wheat"
"And right after that will come the mil
lennium, ''growled a bear who was endeavor-
ing to cover heavy line Of shorts.
''The market to-day" remarked another
operator, sis a tissue paper one entirely.
The crowd is buying and selling recklessly."
The market was governed almost entirely
by the price of British consols and
the tissue paper kilograms mentioned,
which contained the war news. The
tone of the dealings in May wheat indicated
that there was very unsettled feeling, open
ing at size, shade higher than the close
last night, it ran up in price to Sac, but it
fell off again. and at the end of the morning
session closed at S324c, indicating &c ad-
vance above yesterdays latest figures.
TRADING WAS LIVELY ALL DAY,
and there were more orders to buy at set
prices than there was stuff offered. Trust
worthy operators take somewhat gloomy
view of the situation, and advocate higher
prices, but there are plenty of strong houses
at the bear side that regard to-day's advance
as merely speculation well worked by the
bull operators, and they are ready to contest the
increased price with good hard money. Les
ter bought everything he could get his
hands on, and towards the close some of
the bears. fearful of a corner, let loose of
good purchases, and Lester gobbled them up
in his confidence that prices will go yet
higher. March, which was very quiet, ranged
at 7656@7S%c, closing at 7SHc. April was
nominal at 773I07S%c, closing at 785sc.
May opened at Size, sold up to SAC, and
closed firm and steady at $3.50. June closed
at S555c, the highest figure of the day.
CORN OPENED HIGHER
and ruled firm throughout the day, though
within much narrower limits than wheat.
May fuctuated but &c. Receipts were
light, but decline in freight rates overcame
that influence and the increase in prices
proportlonatelY less than in wheat. May
opened at 421zc, sold to 43c, and closed at
424c. March was very quiet and ranged
3G9s@3S5Sc, closing at 3S19c. April closed
higher at 375Sc ald June 4 C over Yesterdays
close Mt 42$Ic. A. NJ. Henderson, d. II.
Lincoln and Gregg IL Sons were free sellers
at 43c. At the close May was regarded as
good purchase to ''have and to holdn at 4216
Ia fa nf no HEAT h1y
ers Of yesterday shifted to that staple.
OATS WERE IN BETTER DEMAND
by the shorts, shippers and local
consumers, and prices improved &c.
No. for April sold at 2sk@2S4c and
closed at 2S%c. Sales for May were at 81 Il
.@3l%c, closing at 3l9&c. Trading was con-
fined almost entirely to the May option.
Provisions opened pretty lively in com
pany with wheat, aud the prices made the
longs happy. Pork led with jump of 15c
with heavy buying orders, but the advance
was soon lost when the reactions in grain set
in, and at noon the ruling prices were about
the same as those of last evening. But dur
ing the afternoon, though there was no ex-
element, prices ruled higher under increased
activity, and the closing figures
were about the highest of the
day. May pork opened at sl2.S71E,
advanced to sl2.95 and closed at 1890.
Cash stuff opened at sl2.T21S, advanced to
$l2,s0 and closed at $l2.75. April was in
but light request, closing at $12.S0, and June
was offered freely With no takers at Sl2.97]6.
The movement in lard was little stronger,
and fair business was transacted in the
May option at $7.07H@7 closing at the
lowest figure. Cash lard closed at S6.9T1S,
April at So and June at s7.lS. Short ribs
ranged higher, but were in light demand,
May closing at So, so, the opening figure.
Cash stuff closed point higher at s6.37H.
AT THIS STocKYARDs
the receipts Of both cattle aud hogs were
moderate. The cattle trade was
rather low, and prices easier on
the ordinary run Of shipping and
dressed beef stock. The hog market was
fairly active aud prices shade higher
Sheep in light supply and higher. The quail
ity of the hogs was rather better than yester-
day, but outside of few special lots the gen
eral average was rather below the standard