St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-01-10
SCARED BY THE COLD.
clustering Bear Operators in Wheat Are
Afraid That the Grain Will
Freeze.
a Glance at the Market Situation and
an Outline Of Its Probable
Course.
Corn Shows Improvement, ProV1-
sfons Are still Top of the Heap
--Oats Unchanged.
Stocks In Wall Street Keep Steady
With But Little EfTort--Fi-
nancial Affairs.
Chicago

Cpecldi 10 inc piODS'
CHICAGO, H., Jan. 9.-lt will be dis
appointment at least to onlOokers. IL wheat
does not break of again the first oil the
week. The bulge has turned up, played It's
part and disappeared. The only reasona-
bic expectation, therefore, is for reaction
II is all the more probable that the top, for
a time at least, has been reached, because
the interest of all big traders is believed to
be on the short side of the market. This Is
especially true of the milling crowd in the
Northwest and the large class Of local
operators OF late the millers have taken
less pains to conceal their actions. One can
tell very closely how they stand on the
market by watching deliveries and the
general crop movement They still keep
up their mysterious methods OF drawing
1t out of the farmers hands into their
elevators and out Of elevators into the Chi
cago market whenever they want to break
things. 1t is claimed now that the recent
decrease in the visible was made by hiding
wheat. or rather keeping it out of places
where it could be counted, and was part
of the present scheme to make an unusually
large showing on the increase side. 1t is
Ri open secret that the late supporters Of
the market have almost TO man changed
over TO the other side.
THEY HAVE SOLD WHEAT
all the way down from 9034c, last Satur-
DAVIS prices. and are bearing the market to
bay il back again. Ranged on the bear
side now are Ream, Hutchinson. Miller and
number Of other heavy individual traders.
1t is believed that the Nat Jones and
Eldredge crowd would be among the num-
Der if il were not for big line of customers
who persist in keeping on the other side.
The decline this week has been
substantially Sc. What it will be
next week. if it is anything,
cannot, of course, be told. but, as indicated
before. the chances favor still further de-
cline until the general leading up move be-
gins. Then the advance will doubtless be
sharp and sudden. The ''lOngs" in pork
have had little picnic and pOcketed a
profit of soc provided they let go at the
top. For day or two pretty much every
body wanted a little, and, as usual, when
one set of men is after it, the other set is
correspondingly afraid to sell it. On the
reaction. however, everybody Joined in
bearing it for leading up purposes. The
close finds
MAY PORK
still 2214c higher than last Saturday. Wheat
began this morning where it left off yester-
day, and the earliest trades were at slightly
better prices. Free offerings by leading
brokers. both on long and short account,
broke the market 35@Hc. The bitter cold
reports of bare wheat fields in Mis-
souri,, Illinois and Indiana, exceed
ngly light receipts at primary
points, decreasing stocks at seab0ard
cities, and an estimated decrease in the
visible supply of 500, 600 to 800, 600 bushels
hardened the market, and it resisted raid
ing, sturdily holding its own and establish
ing a substantial advance, May closing
strong at S7T@SSc. News from abroad
was conflicting. though the tenor of the
dispatches is that Europe is confirmed in its
independence OF America, and that it would
not take the wheat at anything like present
prices On the other hand, reports of an
export inquiry, both here and at the sea-
board, at about ruling values were current.
The local speculative feature was brisk
demand from small shorts, who were not
disposed to 90 over Sunday with open
trades. Hutchinson, it is believed. got q
great deal of wheat last night on puts, ,
and when the market got so low it looked
as if puts" were going to be good again
to-day. he became very large seller. John
Rumsey sold a block of $50. 600 bushels IL
Clifford at 77I4c, which was for Hutchinson.
AS the severity of the storm became ap.
parent. and especially when it was known
lie temperature as far south as Tennessee
vas
DOWN TO ZERO,
and even below, the market strengthened
The cold weather in the southeast and tall
that the wheat down there was bare were
the main reasons for a sharp advance il
wheat of 1c toward the close. At S715C
COmseman d Co. were large buyers
From that figure on up to SSc there wer'
large purchases by ''ShOrtS." The cloSt
was changed from yesterday but slightly a
S2c for January. S214 c for February, S34t
for March, SSc for May and S913c for June
Corn was neglected, but the market helC
steady. as receipts were light-S9 cars, ant
only 105 cars estimated for Monday. Ship
pers bought sparingly, but choice sample
were held firmly at small advance. Price
were q better, as offerings were small ant
shorts wanted to cover. May sold at 391
G040c and closed at 391Sc, February sold a
3613@36}c and January at $3.50
3615c. Provisions were firm and stead
all through the session, but ligh
offerings checked business. The range o
prices were narrow. Mess pork closed a
1923 for February, $40. 421S for Marc
and S1O.62H for May. For May the rang
WIS $1O.57T@10.65, and the opening wa
$10.65. Lard closed at SCOTS for Feh
ruary, S6.l5 for March and $6.2715 ia
May. Short ribs closed at S.. 1215 for Feh
ruary, $500 for March and $685. fO
May.
PETER BERKEY. Pres. Wv. ANDERSON Cashier
CIV. GRIGGs, V. Pres A. c. ANDERSON, Asst c.
THE ST. PAUL NATIONAL BANK
CAPITAL, 100000.