St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-01-15
THE DECLINE STOPPED.
The Wheat Product Turns Around and
Forces It's Way Up Grade
a Trihe.
Other Cereals Show Slight improvement,
Closing Firm and Steady Rather
Than Higher.
A Hungry Crowd Crying for Pork
Sends the Provision List En-
couragingly Higher.
The Day at New York Better One for
Sellers Than Buyers OF
Stocks.
Chicago.
Special to the GLOBE.

Chicago.
Special to the GLOBE.
CHICAGO. Jan. l4.-The comparatively
steady feeling prevailing in wheat to-day
was in marked contrast to yesterdays
activity. Most traders charged the altered
condition ND to natural reaction" Prob
pbly this covered the case as fully as any
exclamation could but it was far from sat
iSfactorv to the somewhat numerous class
who bonght pretty liberal on the decline
Yesterday in anticipation of natural
bnIUe to-day Among the leaders in the
deal there was clearly an apathetic feeling.
AS recited yesterday, the extensive ''short"
covering INDUCED in during the early part
Of the day placed some large interests about
even. and thus removed the chief specu-
lative cause for fuctuatiOn from tO-day's
market. After one break another cannot
reasonably be expected to follow on the next
dav. This restrained the class who invari-
ably tie up to the short side, while the
probabilities for an advance were not so
pronounced as to justify any very heavy
loading up. Thus it happened that scalp
ers and the smaller class OF operators trans
acted about all the local business in wheat.
Some big orders, however, came in from
New York. The talk is that Woerishoffer
bought 400, 900 bushels through Wright,
Lester. Roche, Jones and other houses, and
while these orders were being executed
values touched about
THEIR HIGHEST POINTS,
About the only feature sto early trading
was the increase of some 800. 900 bushels on
passage. This was known before the ses-
sion opened and brought out 4@25c de-
cline, May selling first at S4%4c. FOR an
hour the market pounded along III
a very sluggish manner the mo
notony not being broken until
Jones and others began purchasing
for New York account. Then prices picked
ND &c with good deal of steadlness. Al
S55Ic for May a large share Of the support
was Withdrawn and values settled BACK 10
B5Ic. recovering again TO S5Hc ms
afternoon wheat advanced steadily &c,
February touching S0Hc, March SO$4c and
Nav soc. Just before the close an EFFORT
was made to check the rally, but last sales
were at the top. The day was on the
whole satisfactory to all interests ana gave
the traders a breathing spell after drop Oh
re. us the halt only temporary or mas tle
bottom been reached" is the question OF
fine GREAT army of spectators and grain
handlers The bears talk 1O@15c lower
and the bulls hope for, rather than antlcl-
nate. q steady advance. Their nerves are
vet urstrung from the very recent democrat
ization. This is the first day in week
that the price has not touched lower inquire
than the previous day, and this may SIGNIFY
that the ....... ...
BEARS HAVE CROWDED THINGS
as far as they think safe. Prices are now
at a point where an outward movement is
freely talked of. and it is fresh in the minds
of all that every time for several months
when that point has been neared the pears
have changed their tactics. 1t is qulte as
much to their interest to keep prices ABOVE
an export point as to that of the bulls, SO as
TO keep as large stocks on hand as possible
and prevent any great export movement.
II is that very thing which has enabled
them to make such successful raids on the
market after the bulls have advanced prices,
even though opposed by party stronger
both numerically and financially,
than themselves. But having the
large stocks to weigh down the
market with the heavy carrying charges
gives the bears great advantage, and for
this reason they do not want prices to get
down to a point where the stock would go
out. They say Jack Cudahy was big VIM
ner on the break yesterday. lie took III some
g5O. OOO bushels of short wheat, IN when
there was profit of over zoe per bushel.
This afternoon OH lut CulD Pubo '"iN ~
S55sc and calls at 965sc.
CORN WAS INACTIVE
and remained in a rut all day. Receipts
were large. 90 cars, and 1875 cars were esti-
mated for tomorrow. Liverpool and New
York were steady. Offerings of futures
were fair but confined to small lots.
Shippers bought sparingly and prices on
lower grades declined 1@1Hc. May
was the favorite and sold at $500
3os/c. and closed at 1920, February at
36KM363Sc, and closed at 36Bc. January
closed at 365Ic asked. In oats there was
nothing doing. the market closing steady at
2S8[c for January, 2S16c for February and
31sfc for Nav. Provisions were very
strong to-day and higher. A diSheartened
bear describes this market as ''impish."
The opening was rather weak at or about
Yesterdays closing sale, but the market
very soon hardened and prices advanced,
the l o'clock range being at the
best figures of the morning. AT
that hour pork had scored an advance
of 2O@2215c, lard sc and ribs 713c. The
volume of business was large, and rather
better INQUIRY for cash property Is reported.
This afternoon pork gained sc, and lard
and ribs 215c, closing at $10.4753 for Feb
ruarv. S10.571% for March. and S1O.T79
for Nav pork; S6.12% for February, So. ID
for March. and $6.2715 for May lard;
S5.1716 for February, S5.25 for March, and
S5.375I for May short ribs.
PETER BERKEY, Pres. F. w. ANDERSON, Cashier.
CIV. GRIGGs v. Pres. A. c. ANDERSON, Asst. Z.
THE ST. PAUL NATIONAL BANK,
CAPITAL, 100000.
Corner Fifth and jackson streets.