St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-04-22
The Scene on Change was One of Bustle,
and Reminded One of Old
Times.
Wheat was Higher and Excited on Better
Gables, and Dealers We're Both
Numerous and Busy.
Corn Followed the Lead Of the Chfef
Cereal, but the Tendency I'm Pro-
visions was Lower.
Stocks in Wall Street Were General!
Firm, Pacific Mail Being the
Chief Exception.
Chicago Grain and Provisions.

Special to the Globe.
CHICAGO, April 2l-The wheat market was
excited aud higher to-day. Commercial
cables quoted wheat firm with an upward
tendency abroad. The amount of wheat on
passage showed an increase of nearly 2,OO0,-
600 bushels compared with the preceding
week, but as the bulk of the increase was
wheat shipped from America, these ngures
did not seriously affect the situation here to-
day New York came in strong and houses
with New York connections appeared in the
pit early as heavy buyers. The other do
mestic markets followed the leaders and the
general public showed signs of awakening TO
Il consciousness that something was going ON.
Outside business was larger than on any
day for long while. Although a
bulliSh start was made and prices
hitched up little from the opening. which
was &c above yesterdays final quotations,
the market eaSed Off soon and sold down
nearly &c Then came hints Of important
news and of cables to several houses TO the
effect that foreign complications were becom-
ing serious, which turned the tide. A moment
later it was announced that Nightingale had
telegraphed his correspondents here that the
political situation WAS getting more threaten
ing This set the scalping crowd to buying
furiously, and prices kited, May climbing
from 795SG5SOc TO Size, and June from $3.50
sl3kc to S3c The ascent of the scale
WAS RAPIDLY ACCOMPLISHED,
with heavy business all the way up, New York
still appearing at the front as buyer. That
Nightingale, whose bear dispatches for the
last year have been unintermittent and nu-
marous, should confess that such thing as
European complication could possibly exist,
caused the crowd to jump TO the conclusion
that something dreadful was going 10 happen.
The market retained its firmDesS for quite i
while. and prices held up. The rigidity in
iected into it by the revised song of the
Nightingale lasted for an hour or more, when
hints began to drbble in from New York that
that trader was selling on the bulge. The
eagerness of the crowd to buy wheat slackened
and once again the current changed,and from
then until the l O'Clock close the drift
was toward lower range, last
trades being within very small fraction of
the opening. The market was very lively
and nervous. Fluctuations were sharp and
the range ample to impart unusual specula-
tive activity TO trade. The weather, except
in the far West and Northwest, is favorable
TO the bears, but the bulls are confident that
their statistical position is now impregna-
BILE and that the ''actual situation is such as
to command respect" to borrow phrase en-
ployed with some freedom on Change these
days. Corn was stagnant until the bulge in
wheat when that cereal advanced &c out of
sympathy, dropping back to the starting
point, when it became apparent that the
market was slipping
BACK FROM THE CREST.
The / o'clock quotations show no change
from Yesterday. Oats felt the excitement in
slight degree. Stock shippers in the West
seem to be recovering from their fears of Il
blockade on the granger roads. Receipts of
hogs were larger to-day than for several days
preceding, and give promise of further in
crease as prospects of a blockade diminish.
The result was an easier feeling in provisions,
pork being especially weak. Offerings of
May property were heavy, and the price
broke to 1896, rallying from that point,
but closing weak and at loss
compared with yesterday of 10c. Very little
wheat was offered for sale this afternoon,
and the prices fairly jumped, the scene on the
board yesterday afternoon being re-enacted
to-day. May went from S03sc to SIG. and
June from S21S@S21<c to S27s9S3. where it
closed. The shorts who had sold the market
down the last hour of the morning session on
the reports that the advance had been
worked by Clewes and Nightingale to sell
100000 bushels of wheat, bought before the
sending of the dispatches referred to above,
were caught. Corn and provisions somewhat
higher.