St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-11
The Present Unreasonable Thaw Affording
Some Support to Bulls in the
Wheat Pit.
An Unusual Showing of Bull News Has a
Decidedly Strengthening Effect
on all Cereals.
Provisions Also Show the Effect of
Good Buying and Short
Stocks.
a Little Letting Up in the Lacka-
wanna Squeeze at the New York
Exchange.
Chicago Grain and Provisions.

special 10 the GLOBE
CHICAGO, Feb. 10.-Wheat opened
shade lower than it closed yesterday, and.
speaking in general terms the market was
strong one through the day. Gables were
quiet and New York was firm. Everybody
had something to say about the bare winter
wheat fields and the approaching cold wave.
The bulls theorized that the wave would
sweep on and knock the next crop galley
west" and the bears prOfessed to think
that summer was at hand. Some days ago
ii was announced that the stocks in England
Feb. were 4, 500, 900 bushels less than on
the LIST of January. To-day the story was
that the stocks were 4, 800, 900 bushels less
than at the corresponding period last year,
a manifest mistake, certain statisticians say,
hut accepted as correct by many.
The current of gossip and sentiment on
'change to-day was bullish. The crowd
was buIlish. A chronic bear described it as
a weather market, but the opposition held
that the condition warranted their faith in
higher prices. May advanced from S4Ac
at the opening to S214c. from which point
it eased OFF slightly. The most conspicuous
hating place was at 45s@S4Mc, the ''cal"
price. and the bulk of trading up to 1870
o'clock was at or about these figures appar-
emily. 1t was reported in the wheat pit
that Cudahy had covered
ALARGE LINE OF SHORTS
and that it was while this was going on that
May advanced to S6Hc, receding subse-
quently to SAGE. and closing at l O'Clock at
Soc. The buoyancy of the market was a
surprise to the bear element and seems to
them absurd and without the shadow Of an
excuse. The bulls were not doing much
talking, but they were rejoicing in the faith
81, i
lane, and that from now forward the other
fellows would do the walking They say
say that the big spectators find it easier to
advance than to depress the market, and
that the tendency is upward. Wheat
had a nervous spasm this after
noon and advanced &c, declining
slightly and closing a shade under
the top figures of the day at 7925c for Feb
ruary, S04c for March. $500 for May, and
S65sc for June. Corn was stronger and
advanced H@5sc, as buyers were more
numerous than sellers. and larger bust
ness was transacted than for any preceding
day in this week. Receipts were fair with
estimates of larger run tomorrow. New
York was stronger and shade higher.
Liverpool, however. was slow and offered
no encouragement to holders. May opened
at 40c, advanced to 405sc, and closed at
7N/2S' SOiu db NUOtC,
closed at 367sc bid. The largest buying
was by Baker, Bows & Nelson. the latter
taking considerable March. The selling
was scattering. Nothing was doing in oats.
A HoMILY ON PORK.
''There is no big short interest in pork
said George Baldwin. 1.-THE packing COM
pany is believed to be evened up and viii de-
liver out its pork the first of the month.
Cudahy is no longer short, as he has been in
some other years, and the other large opera
tors are not compelled to buy much Every
body seems fixed for an advance. and for
that reason it is not likely TO come. Mr..
Armour took some pork the first of the
month, but did that because he makes no
pork himself, and in order to
get it for his trade buys it. If
Armour had had pork this year there
would have been 100000 barrels. Plankinton
has been bullish on pork, but don't under
lily. He simply believed that the stuff was
cheap and expected that it would sell at $I2
1t has sold within SOC of there"
Provisions were strong and higher. At
3 o'clock pork was 10000 above yester-
days closing figures Ribs were SC above
and lard shade better. Receipts of live
hogs are not coming up to expectations and
the shipment of product, presumably into
consumptive channels, is quite large, two
points that influenced the advance meas
urably.
PETER BERKEY,7Pres. F.w. ANDERSON, Cashier.
c. w. GRIGGs, V. Pres. A. c. ANDERSON, Asst. C.
THE ST. PAUL NATIONAL BANK,
CAPITAL $500 ono