St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-01-27
Broker Stone Troubles the Pit by Making
Big Purchases for Mysterious
Principal.
Beam and Others Attempting to Whoop
Up Wheat by Their Clever
Tactics,
But. I'm Spite of Their Efforts, 1.-The Bulls
Witness a Decline in All Spec
ulatiVe Articles.
Western Union Experiences BOOZE
In Wall Street--Trunk-Lf Line Stocks
Show Improvement.
Chicago Grain and Provisions.

Special TO the Globe
CHICAGO. Jan. 26.-Broker Stone fort
night ago started the provision pit to talk
ing by buying 46, 900 barrels and giving up
,he name Of Mr.. Howe. who represents
Jointly on the floor the Grand Trunk rail-
road and the great beef packer, Swift
Broker Stone again caused the heads TO
wag by starting in himself and giving orders
to brokers to buy from the same principal.
II is figured that he took this morning
about ID. coo barrels of May from S10.95 up
to S11.O5. These operations in pork are
the talk of the pit. Howe being Swifts
representative il would be naturally sup
posed that he was doing his buying for his
principal but Swift's business in beef Is so
enormous that he would hardly speculate,
besides he has never been known to. Ihere
are not many people in the trade VINO can
take 20. goo barrels of pork at one time and
~. 600 more at another. Swift could II he
wanted to. of course. This morning 1t Is
generally agreed among the provision pit
that the purchases are more likely to be Tor
the account Of Planknton than for any
body else. In the provision trade the feel
ing was somewhat unsettled. The opening
was nervous and weak. and for the better
portion of change an unusually undecided
market existed. Toward the close, how
pyer. the tone strengthened materially, and
under an unexpected
DEMAND FROM SHORTS
nnd ''pit' traders generally higher prices
prevailed. The best figures of the day. in
fact. prevailed just previous to adjourn
ment, when May pork sold at Sll.12R,
May lard at S6.2719 and May short ribs at
S5.45. The days advance on pork was
l21%c, and on lard and short ribs 21lc.
Wheat was again active to-day in the local
speculative market and heavy trading was
the rule throughout the entire morning ses-
sion. but it was on the basis of lower
values. lnasmuch as a good share Of yes
terday's buying was the result of more war
like news from abroad than we have had
for some time past, ii was but natural to
expect a reaction from two-cent bulge
unless there was a continuation of this dis
tributing factor. The cables noted in
creased frmness in foreign securities, con-
soils being 3-16 higher and at the opening
OF business here the feeling was unqual-
ifedly weak, starting sales being at SG15c
for May wheat. or &c off from yesterdays
closing price. After receding small frac
ton more a rather 1irmer tone was deyel
Oped. Later dispatches confirmed the re-
ports of better export inquiry for grain,
clearances from the Eastern seabOard reach
ing the very respectable figure of 100000
bushels.
HEAVY LOCAL BUYING
followed and there was a fair run of out
side buying orders also, which for time
braced the market up materially, and it i'm
proved to 81 sc for May. 1t was asserted
that n. b. Ream had put number of
brokers into the market with instructions
to take all offerings within certain limits,
while Wimire. Bodman & Co. were ac-
credited with being among the largest early
sellers. Good buying during the last half
hour of the morning session sent quotations
up 10 S71sc again, which was the l o'clock
closing and identical with that of yesterday
afternoon, but this afternoon wheat broke
5sc, closing at near the lowest figures of
the day at S0$Ic for January, S0Xc for
February. 81 re for March, S615c for May.
and IS sc fer June. Corn was tame and
broke a G}sc under large receipts and an
indiSpOsitiOn on the part of holders to in
crease their lines until after the week.
New York was lower, but Liverpool was
rather steady. Most of the business was
transacted early, and during the last hour
OF the morning the market was dull. Ship
pers bought sporingly. May opened at
4055c, sold at 403 @40%c. and closed at
40l4c. February sold at 36%@3e3[c, and
closed at 3619c.