St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-11-20
PORK ON THE RAMPAGE.
Hutchinson Making Himself Very I'm
pleasant to His Late Associates,
the Packers.
The Market Advanced Sharply and Every
body Wanted 1t, and the Closing
Was Strong.
The Grain List Rather Neglected.
Wheat Closing Lower and
Oats Higher.
A Boom in the Stock Market, Closing
Prices Being the Best for
the Day.
Chicago.

Special to the Globe.
CHICAGO. Nov. 19.-Wheat got into
rut and fluctuations were within narrow
limits. The exchange was Hooded with
woeful REPORTS of bursting warehouses in
the Northwest and doleful predictions were
made that the overflow which was about to
set in would drown out the Chicago market.
Milwaukee intelligence bureaus were also
bearish. and the report that was sent out
from Minneapolis yesterday, that the millers
were going to transfer their wheat, was re-
vived. The wheat crowd take little stock
in this gossip. and telegram came back
from the Northwest that one large operator
here had offered to take the whole Mime
apolis stock at the market if the holders
were anxious to get rid of it. This pleas
ant interchange of courteSies was the sub
ject of light chatting all morning Up to
this writing neither ''bluff'' was "called,"
to use an expression in an unknown tongue
that the market reporter heard used, out
the market did not yield to the pressure put
up from the Northwest. The opening was
about &c under yesterday. Prices never
got more than 35@19c lower and quotations
hung abont the opening stubbornly, though
several vigorous ''testlngs" as sales were
made by strong parties. Foreign advices,
UOlH pOllIlCdI COhiiiiSANAo4i "NAS HNAS'
and as domestic
INFLUENCES WE'RE BEARISH
wonder was expressed that values did not
recede precipitately. The fact that they
held up so well was cOnsoling to the bulls.
The commission houses gave the market
considerable support. So far as could be
learned the whole of the pit were not in
motion to-day. Hutchinson being the only
ono Of ba Dier Onora IOrc who OnaOlU showed
his hand, and he was both buying and SELL
ing The o'clock opening and the 1 o'clock
closing were the same. The feeling this
afternoon, however, was beariSh. the clos
ing being 4@35c lower and weak at S91ac
November 90c December, 905sc January,
963lc May. The bears on wheat have been
pretty severely whipped during the past
ten days. and discouraged at the losses
they have made. many of them have turned
and are waiting on the long side. The
short interest is consequently small and
quietly covered. Of course, there is great
amount of wheat sold in this market against
cash wheat held in elevators and elsewhere.
The purchasers of this wheat are, for the
most part, parties who bought on the war
scare and reports that Armour, Kent, Jones
& Ream are under the market and are
widely scattered. These holdings once
started would give US very ''sick" market,
and, unless
THE EASTERN TROUBLES
develop into war of greater magnitude than
now seems posbable, they are likely to come
out in the near future. In addition to this
imports into the United Kingdom and the
amount in passage again show a good in
crease this week, which confirms our state
ment of last week, that English buyers for
the present are Independent of American
wheat. Corn was moderately active, but
trade was rather spasmodic and mostly by
professionals. Receipts were larger and
shipments moderate. At the opening a
steady feeling was noted but colder weather
induced fair realizing as a great deal OF talk
was heard about increased receipts and a
weak tone set in which resulted in 115c de-
cline in year, the favorite future. Buying
by large operator, however, prevented a
further decline and &c advance followed.
At the close prices were &c higher than
yesterday. November held steady until the
afternoon when fair buying caused &c
advance. Long futured were steadier.
Year opened at 421ac. broke to 42c, adj
vanced to 423lc, and closed at 1910 asked.
November sold from 433lc@443sc and
closed at 4434c. May closed at 40c bid.
Shippers purchased sparingly.
Oats were stronger and 1s@Ac higher.
December closed at 2S19c and May at 81 &c.
A BOOM IN PROVISIONS.
The entire provision market was very
much liveier deal than for a number of
deals past. clutch" started the bulge last
night, continued it on the curb this morn
ing and still later on the regular board, his
purchases being all the way from S9.67119 to
about $40. TO- beginning this morning at
SO From this figure it reacted to 1915,
but thence on the market was very strong.
George Baldwin continued. as he has for
months past, very friendly to the whole hog
product list, and to-day was heavy trader.
Geoch and other big dealers had an I'M
usually good showing of orders. Packers
were liberal buyers. and all these things
tended to make a very strong and active
market. The early expressed fear that
heavy hog receipts would break values was
not realized: while on average of 40, 900 are
coming in daily, they are all being taken
care of. The last half hour in the provision
pit was particularly lively, January pork
selling up from S10.0715 to 5000 inside
of ten minutes. Shorts were actively at
work covering. while large-szed lots were
bought on speculative account. On the
board prices were again on the ascending
scale, pork advancing sore above the
o'clock closing, but lost sc later. The close
was unsettled for pork, December closing
S9.17H, January $10.1715, February
5000, May S10.65. Lard closed steady at
1928 December. $685. January, S6.42%
February. Ribs were steady at SIS January,
$50 February.