St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-07
A BIG BULGE IN WHEAT
Somebody is Said to Have Tempered
With the Cereal During the
Three Days Holiday.
1t Opens Nearly Q Cents Higher, Sells
Up to Over 80 Gents and Closes
at Top Figures.
Hutchinson Held Responsible for the
Advance--Corn Lively and
Oats Fairly Booming
Talk In Wall Street Bullish But the
List Lower on Heavy Real
iZinS Sales.
Chicago Grain and Provisions

Chicago Grain and Provisions
Special to the Globe.
CHICAGO, July 6.-Somebody raised the
Old Harry with wheat during the three
days holiday and the gossips OH the floor
have about agreed that it was ''Old Man"
Hutch. They say his broker, Capt. Morris,
put in the best part of Saturday and Mon
day buying August, which action resulted
in an advance between the close Friday
and the opening to day of 1%@14c. One
man generally posted as to what is going
on SAYS Hutch had big short line out and
took advantage of the time when the boys
Were not here to rush the market UP on
him to buy in big palt of his shorts.
Another equally informed gentleman
maintains that Hutch sold calls
very freely Friday, and expecting
to be called wanted TO have the wheat to
respond thereto Either, neither. or both
,aay, or may not be right, but it. is fact
that wheat made sharp and rapid advance.
selling long before noon at sou Tor new
August after opening at 1859. The
advance to the high point named was steady
and attended by more or less local excite
ment. New York considering the move
ment as purely local affair took but little
stock in its being anything permanent and
did not report to any great extent The
feeling here was that it was too sudden to
last, and this helped to bring out some
RATHER FREE OFFERINGS.
but after the bulge was fairly inaugurated
the August option did not for all hour 20
below 1890, keeping very steady around
soc until after y o'clock, when itsbegan to
ease down. falling lack to 1880, and fuc-
tuating around 1870. The official an
nouncement of decrease in the visible
supply of 1, $50, 600 bushels of wheat, 1885,
900 bushels corn. and 2S5. 900 bushels oats
frn1ed it q few points. When buying was
at all active il was so sharp that heavy pur
chaserS could not be traced in any particu
lar direction, or to any special house.
Offerings came out in much the same way,
being well divided up between the crowd.
The close at l o'clock was active
and moderately steady. A fair trade
was had in corn and particularly lively
one in oats. Both sold higher, corn at one
time being &c over Fridays closing. 1t
was reported that oats were being bulled
and bought for manipulatlye purposes, but
there was probably no foundation for this.
August sold 24@23sc over Fridays closing
prices but toward the close reacted a
few points. One of the steady articles
early to-day was pork. An active trade
was had in all kinds OF hog product, but
prices changed very little for an hour or
so after the opening, which was good 15c
over Friday, but after that the decline was
quite steady and from $10.55 for September
the market declined to $10.171ac, after re-
covering to S10.25.
PETER BERKEY. Pres. r. W. ANDERSON, Cashier.
J w. GRIGGS, V. Pres. A. c. ANDERSON, Asst G.
7 HE ST. PAUL NATIONAL BANK,
CAPITAL, 100000.
Corner Fifth and Jackson streeta