St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-01
END OF THE OAT DEAL.
January Oats Forced Up to Quite Fancy
Figure and Eagerly
Bong hit.
The Manipulators Rapidly Bid Up The
Price to Thirty-Siz Gents for
Cash.
A Dull Day I'm the Wheat Pit--Corn
and Provisions Show Consid-
cradle Improvement.
The New York Stock Market Keep:
Very Dull. With the Street Full
of Bear Talk.
Chicago Grain and Provisions.

Special to the Globe.
CHICAGO. Jan. 30.-The markets OF the
last week have for the most part been In an
unsettled condition. This state OF things
has been especially true of wheat. A week
ago Nav wheat closed at Soc, which was a
cent lower than the close to-day. 1t is to
be remarked that in spite OF the wide nuc'
tuations which have been prevalent in that
cereal during the week, prices have not
been since as low as they were week ago.
The prediction voiced at that time has
been fulfilled to a nicely. The pre-
diction was that prices would snow
healthy but not large or
rapid advance. Local manipulations have
been disturbing element and caused an
unnatural appreciation at times, but the
close to-day is somewhat nearer actual
value. An impartial observer OF the market
cannot help but notice the change of posi-
ton of some of the heaviest dealers and IN
fact general change of opinion all around.
A great deal more reluctance about putting
out large short lines has been evidenced,
while the market has responded very read
lily to every rumor tending toward the bull
side. Several large shorts have attempted
to cover their lines during the week and
until yesterday none of them had extended
his short sales to any extent. Besides
LOCAL MANIPULATION
and large decrease in the visible supply,
rumors of European wars have cut quite
figure in the imitation of values, which have
shown a range of SC during the week. The
largest advance of any one day was on We'd
nesday, when prices fluctuated 1ssc, but
nearly every day of the week has seen
wild market, with the movement quite
rapid and radical. The probabilities are
that values will steadily advance from this
out, subject, of course, TO the ups and
downs of manipulation. In oats there has
been so little excitement for such long
time that the crowd Oh Change was
treated to a surprise yesterday, when the
January option jumped from SOC up to 33c.
The light receipts during the month have
caused scarcity of the article for which
the regular operators seemed to have made
no allowance, and when the shorts came to
fill their contracts yesterday the supply was
so apparently deficient that an advance was
the immediate result. Corn has been
traded in TO very small extent and values
show an extreme fluctuation Of scant &c.
Lack of support and
TENDENCY TO sYNIPATHIZE
with the wheat market have at times been
tLG ldCJUI III lLS luOftulSDI, UUb D6NOUu
these the market has been bare of features.
In provisions there is little change of note
since a week ago, the May option in pork
closing but little higher than it closed a
week ago. In the intervening time there
has been both an advance and decline of
from 15c to 25c in pork, while lard and ribs
have scarcely fuctuated. The two latter
are, however, firm at the present
writing. There has been
very quiet trade in provisions
throughout the entire week, but the indica-
tons point to heavier demand from con-
sumers and higher scale of prices. Wheat
was dull and firm to-day. 1t opened at
yesterdays closing prices, fell away 14@3sc
and advanced 5000, May being traded in
at S6$s @S61Sc. That option then dropped
back to the neighborhood of sec, where it
closed at o'clock. Business was light and
chiefly of local scalping nature. The
great spectators and the country were
''out of the market apparently. The
gueSSeS on
THE VISIBLE SUPPLY
are generally that there will be a decrease
of about L, $50. 600 bushels. Lindblom says
that the decrease will not be more than
LOCO, 600 bushels. Hutchinson sat stolidly
on the floor and did not sell any wheat.
The crowd of little fellows. which has been
expecting him for two days to send in his
brokers and throw over the wheat that he
is believed to hold, finally gave it up, and
those who were short and were waiting for
Hutch's selling to cover gave up waiting
and covered. This put May up to S6aEc.
Corn was stronger and higher for the dis
tant futures, partly in sympathy with the
strength in oats and To the buying of large
operators who advanced it I@3Sc.
Receipts were fair, but the shipping demand
was small. May opened at 4016c and adj
vanced to 40s5@401zc, and closed at 40$5c,
16@4c higher than yesterday. February
sold at 36@3614c, and closed at 36Lc.
Oats this morning started at 35c for Janu-
airy, with Lamson Bros bidding that figure
for cash and with great crowd of hungry
brokers standing around anxious to buy
cheap. The outlook was that horse feed
before night would sell higher than the
horses themselves. The LamSons are stirct
Presbyterians and the fellows who are
Short are sorry to see them
RUNNING A CORNER"
operating as if it were sort of gambling
deal. The stock of oats is said to be not
over 10000 bushels. The receipts are
pretty liberal, but they ''grade" execrabIy.
uoI more Guan One-nIC1 OF the cars going
No. 2. The Lamsons have picked up the
cash stuff quietly for the past thirty days
and shipped out actively. The principal
short house is said to be Orr, Crittenden &
Comes. The squeeze is sharp one, the
January option having advanced &c
bushel in two days. The shortage is of
course an unknown quantity. Nobody ever
admits being ''short' when stuff is advanc-
ing as rapidly as oats have, but the
shortage must be several hundred thousand
bushels. George Ellison says it is only
$50, 600 bushels. 1t is more apt to be $50
600 bushels. To-day, of course. practically
closes the deal, and January at the close
sold at 36c. Provisions were active, strong
and higher. Trade was good in all product
and was well distributed throughout the
months May and February leading. February
pork and meats were in especially good de-
mand. The light receipts of hogs and anxi-
ETY. of packers were two explanations of
the strength of the market. Pork closed
at 15@1719c higher, lard 255@5c, and ribs
71a@1219c higher. The movement of lard
during the month is thought to have been
larger than calculated upon. and many look
for showing Of stocks below the usual es-
Inmates.
PETER BERKEY. Pres. +. W. ANDERSON Cashier