St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-08
WILD DAY ON CHANGE.
Heavy Buying by the St. Louis Crowd
Makes Wheat Take Another
Jump Up.
The Opening Nearly Two Cents Above
Yesterdays Close--A Rush OF
Shorts to Cover.
a Lively Squeeze in Oats Causes u
Failure--A Stiff Corn Mar
ket--Provisions Quiet.
Realizing Sales--Bad Crop News anu
Reports of Rate-Cutt1ng causes
Decline in Stocks.
Chicago G rain and Provisions

Chicago & RAIN and HrOVsshoNS'
Special to the Globe
CHICAGO. July This was one OF
those wild days on change when the Market
jumped around like a Kansas grasshopper.
The boom which has been brewing for sew
eral DAYS received decided impetus late
Yesterday afternoon. when st. Louis parties
came in and bought calls very heavily, up
in the millions. This procedure, OF course,
advanced the speculative market, the gam
between the closing yesterday and the
openiug this morning being only &c,
fail of IKE. August first sold at S22sc,
having closed at S01@c. 4 little changed
hands at S215c but opening as 1t DID at the
call price. the offerings brought out were very
heavy. and i decline to S213c quickly
followed. Crapser. Kent and Staubber selling.
Then shorts came in with perfect rush
and whirled the price up to o3Mc, Win
very few stops by the waySlde. Ihere
we're unofficial reports OF sales at o3&c,
bat mol much changed hands at these
figures, and during this advance the plt
was wildly excited and two failures were
reported There was no scarcely Oh wheat
for sale, which feature made the aggregate
trade something enormous. t9uantltleS Oh
long wheat in which there was decent
proft were thrown on the market and re-
allied on. From outside points the decline
was steady TO sage, aid then
As YSrlsM OF FLUCTUATIONS
between, 92$5c and 81 &c set in which lasted
I'D to noon. the inside figure prevailing
here. The close at L o'clock was about
steady at the decline noted from top prices.
Soule bullish crop reports from the North
west. Indicating good deal OF damage
in shat locality from drought, helped the
advance along to q higher point than 1t
would have reached without them. The
syrnpathy between wheat and small grains,
or rather the line of cereals which generally
attract small attention, was very marked.
Oats w.s C. big fayGrite with shorts. 1heSe
unfortunates began buying September aa
3Ic advance over yesterdays latest figures
rs soon as Change opened, paying 30Bc
for them. Before all filed the price was
81 &c, with one failure It's the result OF the
squeeze in that crowd. After noon the
marketDecame easier. \ period OF more OF
less weakness came Into WheaI
Just before the close, values 1alllng
tI@24c on heavy sales to realize, ana a
suspicion that crop damage reports clrcu-
lated earlier may nave been highly coiored:
Corn ranged pretty stiff under q demand
sufficiently active 70 pitt August up to 40Ac,
from aG opening al oo12c. nhc piiii"ip''A
cali for it was before noon. The later mar
ket was quiet and steady. Pork and other
hog products seemed to nave no sympathy
Or anything i'll common with other specu-
latve articles. The market opened quiet,
and ranged along in a very steady way
within u distance of 1O@121ac, the general
tendency being downward. Prime timothy
seed, which sold Friday at S1.75, was to-
day quoted at 50. This is even proper
tionately greater advance than has taken
place i'll grains.
PETER BERKEY. Pres. +. w. ANDERSON, Cashier.
9.W. GKiGGs V. Pres a. C. ANDERSON, Asst @
TIE ST. PAUL NATIONAL BANK,
CAPITAL. 100000