St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-04-20
THE SAME OLD STORY.
After an Up Turn, Which Game as if 1t
Meant to Stay. Wheat Follows
the Old Tactics,
And Slumps OFF Again to About a Gent
Below Closing Figures on
Saturday.
Bulls Figured UP Their Gains, and
Feeling Satisfied, Began to Sell,
and Bears Aided.
The Stock Market Unsettled Within
aNarrow Range on Account OF
Strike News.
special TO the Globe.


CHICAGO, April 19.-Wheat was ram
pant this morning. and started on the up
turn at killing pace. 1t opened nearly lc
higher than it closed Saturday, and the
crowd was very bulliSh. Several heavy
houses which were conspicuous buyers
Friday and Saturday, assumed the roll of
of sellers, and a deluge of wheat was
dumped into the pit. Added to the flood
of long wheat that was poured out by
operators who were satisfied with the profits
they could take in a 4c bulge, there was
short selling on large scale. Ream was
openly selling and his following went
with him. 1t was not thought that
Cudahy and Kent were in the market but
of course nobody knew the attitude of these
gentlemen beyond the fact that they were
pretty well evened-up several days ago ana
disposed then to be spectators rather than
participants in active speculation for the
time being. Immediately after the opening
May sold at S0H@S05Sc, andJune at sage.
The market sold down about 1c, the pres
sure proving too much for the bulls but the
first indication of relaxation of the pres
sure prices advanced $s@12c. The recovery
was slow and labored, and when offerings
Increased another downturn IN quotations
was inaugurated and values were
CARRIED STEADILY DOWN
to the lowest point of the forenoon. which
was reached right at the close of the long
session, when May was quoted at 1850 and
June S0T@S1c, a decline from the best
figures of &c, and from Saturdays close of
about 115c. Despite the decline that &C.
Cured during the latter trading the market
was strong in a general way and the bulls
could not see that the situation was in the
slightest degree worse than it was when the
bulge was in the fullness of its glory. Con-
sentative grain merchants did not look for
continuation of the rapid adj
vance, and to the majority reaction
was not unexpected. The market was
racked and unsettled, however, and too
ragged for comfort. G. ID. Brown and
Robert Warren had duel in the corn pit to-
day. Warren and Cudahy are the two
operators who have persisted in leaving
their short lines undsturbed, and to-day
Warren began covering. He bought quietly
but put the market up on himself &c, when
Brown appeared in the pit with large sell
ing orders. Warren bought 800, 600 or 400,-
600 bushels of him, when both parties drew
out, Brown resolved to let Warren bid the
price up and Warren determened
to give Brown chance TO
put the market down. At last
accounts the operators were resting on
their oars. Nothing new in oats. Provis-
ions were dull. They opened higher in
sympathy and declined for the same reason.
Pork closed at a loss of 5@713c, ribs at
loss of 211c, and lard shade easier. The
bears raided wheat on the afternoon board,
and the weakness was intensified by the
selling of long wheat The weakness in
wheat communicated itself to the whole
market, which was easier than at the close
of the morning session. Wheat closed &c
lower than Saturday.
CHANGE CHATTER.
Woeriskoffer, Clewes and Henry Allen were
reported to be heavy sellers of wheat in New
York at the advance.
''Puts" on May wheat sold this afternoon
ut 7S1Sc; "calls'' on May wheat sold at 795sc.
1t is said that John Cudahy got l,7OO.0 900
bushels of wheat on puts one day last
week.
''The foreign markets are firmer to-day than
they were Saturday." said William Dunn,
'"but buyers at Liverpool are not going to
follow a rapid advance here. l have selling
orders to-day"
PETER BERKEY, Pres. +. W. ANDERSON, Cashier.
CIV. GRIGGs, V. Pres. A. G. ANDERSON, Asst. G.
THE ST. PAUL NATIONAL BANK,
CAPITAL, S500,000.