St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-01-24
The Tendency Upward in All Markets
sRsBoth Chicago and New
York.
The Cereal Gain From a Quarter to
FiYe-Eighths Cents on the
Chief Options.
Provisions Rise in Sympathy With Grains
and Close a Trifie Higher All
Around.
Wall Street Firm at the Finish, the Quota
tiOns Averaging About the Best
Of the Day.
CHICAGO
Especial telegram TO the Globe. |

Especial Telegram 10 the Globe.
CHICAGO, Jan. 23.-The markets to-day
were only fairly active. but the feeling on
the whole was quite strong and at the close
all leading articles showed an advance, wheat
closing &c higher at at S62%c for May, corn
closing &c higher for February at 3S9se
and &c higher for May at 4134e, and oats
35@55c higher at 911lc for May. Provisions
shared in the strength Of grain, and May
pork at the close was 121lc higher, al
$l2.475I, May lard l0c higher at S7075z,
and May ribs lOc higher at Sc. 971<.
Wheat opened steady at about yesterdays
closing prices, s61zc for May, at which a
fair business was done during the first half
hour Of the session. Later there was an in
creased demand from short sellers and an
advance to s61Ec. At this point the bears
fought the advance stubbornly and succeeded
in hammering the market down again TO
opepirg prices, but lower it would not 60
and the bulls, rallying, sent 1t up again
shortly before the close Of the morning
board TO sac. The bears looked discouraged
at thisrto have labored all the week with a
market which seemed half inclined TO favor
them Temporarily, for this return was enough
10 dishearten anybody. The principal buy
ers of yesterday were the buyers Of to-day.
Cottrell added several good sized lots to his
already large sized holdings. Driver still
wanted more wheat and Miimine 81 BOdman,
Clifford. and a lot Of other traders OF more
or less consequence appeared to think
the cereal a good thing to have
wheat has made almost successful efforts 10
reach the sc point. To-day there was an
aid which was then lacking. Stocks we're
strong and Wall street, seeing its usual
visions Of prosperity under such circum-
stances, concluded that II could afford 10 bull
wheat. During the greater part Of the ses-
sion the range Of fluctuations was almost too
narrow to afford scslpers many opportunities,
but, such as were offered, they made the most
Of. The attitude of the "ambs'' was quiet
but complscent. It was plain that their con-
fdence still held firm, though they were
rather lockers on than active operators.
Cables quoted Liverpool rather weaker, with
prices unchanged and very little doing.
Mark Lane was steady, with light arrivals
and not much offered. The feeling on the
afternoon board was, on the whole, easier,
although extreme outside prices were realized
at the opening. New York was represented
as waxing easier, the last quotations from
that market showing but l4c improvement
over Yesterdays close for near deliveries and
none at all for May. The last sales hero
were at about &c advance over those Of the
same time yesterday, February closing al
S09zc and MAY at s69[c.
The constant increase in the movement
10 Europe" said A. VI. Wright, Sin connec-
ton vita the growing tendency of capitalists
TO buy for investment, are strong features OF
the market and go far to increase my faith
that prices will ere long show good, healthy
appreciation
''The outlook seems to favor an improve
Incnt in value" said Geo. Stone "The
New York stock Is reduced to about 5000, 00O
bushels; Philadelphia and Baltimore have
less than l,150OO0 in both markets. and
with the improving demand for spring wheat
Ia Great Britain, expect 70 see considerable
OF our stock moved out before spring, and,
sfter the opening of navigation, look for bare
seaboard markets and such a rapid reduction
Of western stocks as will surprise the bears
who have been so worried as 20 bow our ac-
cumulatious were 10 be carried -
Mumiue Il Bodmau say: Gan seem afraid
20 sell wheat short, and the bulls seem to
have about all the load they wish TO carry.
II We could get the market over SIC, think
there would be plenty Of sellers, and, on the
other hand, Il Il drops below sec, those al
ready long would likely buy more to average
down their present holdings and the shorts
would no doubt buy freely on ans break now.
The market can hardly he called weak, as
there seems to be 20 pressure to sell. The
ight Is now largely local one between few
large local operators. Il Is difficult to say
which will win. The market has been ner
vous epd will respond quickly TO any outsid,
iuduert~s We feel that the market is
trlae strained and will yield quickly to lowei
public cables"
The crowd leaned toward the bull side.
good demand for the cash article, light re-
ceip,s aud an advance in New York, accom-.
panied by something in the nature Of s
squeeze there, advanced the price Of May Il
4l4c, at which point it closed. A few short
sellers, who had apparently lost their bear
ings. helped things along by covering, and
other traders figured as investors. Liverpool
was steady on corn, but Mark Lane was
pence per quarter lower for American mixed
January steamer corn was quoted at .
shillings . pence. and February steamer al
- shiliugs pence. The receipts to-day were
I46 cars against 95S Yesterday, aud cut Of
this number u Trsde No. ,. In spite % all
the bear predictions aud movements and
al enormous official estimate Of the crop. The
naked facts are that corn is strong, aud
shippers can hardly get what they want 10 al
their orders. Cash corn in store Is very slow,
but sample corn on track is lively enough.
II eanuo, help thinking" said G. S
Everingham. ''that corn is a good invest
ment II bought on weak spots"
The strength in oats continues aud Ia.
,resses. March oats opened : higher thi:
morning. while May advanced &c, aud both
options held their ground, too. II is not a
all impossible that the ost deal will become
Vastly morv prominent than IL is nov befor,
he next crop arrives.
Influenced hy continued light receipts q
sosk all kinds Of product opened trm, an,
Tslues, under good demand from shor
,ellers, sharply advanced. The volume o
:radiag was hght. aud offerings, beiug oull
moderate, buyers had 10 bid ap When thi,
aemand Wss satisfied the toae was easier an.
lie close this afternoon Is somewhat below
he extrcme prices reached. Pork vas tbs
most active article handled for future dellv
sry. FrbrGsFy opened re higher at SIs o.
,nd advanced 20 sI2.iTS, bat setslcsi Of Il
llsisis a. the close. Mas opened Sc hishe
SissO and vent up 70 l2.55. closing
spspv az SIs4TsS Lard received 4 liitl