St. Paul daily globe., 1885-02-13
Wheat Opens Shade Lower, Closing
Higher and Firmer Under Con-
tinued Light Receipts.
other Grains Quiet and Slow, With
Prices About Unehanged-Corn
Rather Firmer.
Provisions Sluggish but Stubborn, Closing
at the Top of the Heap at
Slight Advance.
The Stock Market at Gotham Steady and
Higher, Notwithstanding Lively
Bear Raid.
Chicago.
Special to the Globe.

CHICAGO. Feb. l2.-BuSineSS was ralueE
more brisk on 'change to-day than yesterday,
with valurs keeping well up to the highest
point touched. Trade was almost entirely OF
a speculative character, and there was
dearth Of features of any sort during the en-
tire day. Wheat opened shade easier Wild
a downward tendency, but rallied later,c clos
ing little higher than yesterday, at 1oc Ior
February, 1890 March, and sSIsc May.
Corn was steady but quiet, no future huctu-
ating more than &c. Cash stuff was quoted
S6slc at the close, aud May at 40A Ac. Oats
were very dull with light speculation,
confined almost entirely to the May delivery
Fluctuations were limited TO &c, but in spite
OF inactivity the May option was
STRONG AND TENDING HIGHER,
closing nc higher at S055c. Cash stuff is
scarce, and owing to the blockades none Is
expected for several days, and there we're
good many buying orders on the floor
Provisions were steady and frm, with out
side prices well maintained. At the close
there was active local buying BY the scalpers.
The May option closed strong aud higher
Pork sIS S25l, lard s7.221z, ribs S6.72H.
which still prevails OF the railroads, made It's
effects felt on 'change to-day, only eighteen
cars Of grain being inspected. Of these the
major portion was wheat and corn. A de-
pressing feature early in the day was the re-
ported increase of over million bushels
in passage, which was cited as evidence that
our cash values are so high that England is
taking the bulk Of her wheat from other
countries. Speculative trading was dimin-
ishcd, though rather better than yesterday,
owing to the difficulty Of communicating with
other points by mail, and all the markets
were correspondingly quiet. Wheat, although
destitute of energy, was the only article that
received attention from spectators. There
was, however, an absence Of factors calcula-
ted TO stimulate trading on either the long or
short side. Liverpool and London quotations
failed to develop
ANY MATERIAL CHANGE
in the situation. There was no outside
buying support, and the weak
ness exhibited at the afternoon session
yesterday was followed by a further decline
of A@aSc this morning, the opening quo
tation being 771lc for February, S71sc for
March, and s31fc for May. This deprecia-
ton took prices down to the figures at which
the puts had sold, when the holders of such
privileges bought freely against them, the
shorts also covered, and the offerings being
small the bidding caused a rally Of 1l@%c.
but further advance was checked by free
selling by the scalpers, who were disposed to
take profits on their early purchases and
especially by those who bought against the
puts on the break. Despite this free selling
the
MARKET CLOSED FIRM
at about the outside figures with bullish
feeling. The fact is that trade being wholly
local. it is difficult to predict the turn prices
will take. Ali kinds Of rumors whether false
or tru,, afford basis for the moderate fuc-
tuations that are now occurring daily, and
he is wise man indeed who invests on
'change with clear knowledge of what the
future Is 10 be. All heavier traders exhibit a
conservative feeling unusual 10 them. AL
predictions made 10y them are so modified
that sharp turn either way In the market
will not materially disprove their opinions.
c. d. Hamill said this afternoon: There
are good many bulls here who are Influenced
now almost wholly by the feeling that
possible damage 10 the growi ng crop will re-
suit from the recent severe weather, but
think this will prove insufficient to sustain
the current values unless these apprehen-
sous are verified aud up 10 this time hear
Of nothing unfavorable enough 10 warrant
them"
(r.sn porbo hill a
cliues to wait for better prices on sire myth oi
rumors.
''sELL on EVERY ADVANCE"
Is his motto for the present.
A. NJ. Wright has not lost faith in better
prices for uc says: ID spite the apparently
large stocks in sgat aud on passag,
think prices are below where
stand on trades is daily becoming
more pronounced. have increased cont
dence that all buyers on breaks stand good
show for profit"
Sales at the lowest figures OF to-day were
quite heavy and were said to he for account
Of poo! watch has been formed to bear the
market. The offerings were eagerly snapped
up bv a good class of buyers. Schwartz, Me
Henry, Hepburn aud Wallace were very free
sellers, aud Staufer, Hobbs aud Clifford
were the principal buyers.
CORN OPENED WEAK,
with some lively selling, NJ &c below yester-
days close, at 4OSc for May When whea,
showed signs of improvement short sell
ers became free buyers aud prices advanced
". The only feature of the dsy was sale
OF $4,000 bushels at 40c by Nat Jones. He
att srwar3 bought Il back Sales were small
under light offerings aud the feeling at the
close was
FIRM AND STEADY
at about yesterdays latest figures. The
scarcity OF cash oats owing to the blockad,
Of the railroads had a drmiug effect on Nav
delivery, prices closing i higher. at SOSsc.
Provisions opened a triae slow and weaker.
hut toe market, although sluggish through
out the day and trading mainly in futures.
was exceedingly stubborn. Pork led the
WY. as IL has done for several DAYS. and as
its friends predict, It will do 50 for sometime
70 come. But Il springs about like a Jump
Ing jack aud is as hard to corral as
the pvoverhlal Tea. MAY stuff opened on
basis ot SlSss1s, aud fen to $lSle}s, Tut
the offerings we're light aud prices rallied.
touching siSS7is. Closing at sISSsL
The certainty that the amount turned on,
here during the remainder Of the mouth will
fan materially below early estimates, renders
the bears cautious about selling.
LAID WAS oCIST AND SLOW
opening weak a, sT.sO May, selling up to
s. SSL closfrr firm AZ that s,ts-, Sh,-.
ribs were quiet aud the market a triae weak
sr, opsni1E s6.5sS May, selliuE OF to
$6.6sSs, reactiug To S6.5S, elosi1x steady 4,