St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-01-31
END OF THE DAT DEAL.
January Oats Forced Up to Quite Fancy
Figure and Eagerly
Bought
The ManipulatOrs Rapidly Bid Up the
Price to Thirty-Siz Cents for
Cash.
A Dull Day in the Wheat Pit--Corn
and Provisions Show Consid-
cradle Improvement.
The New York Stock Market Keeps
Very Dull. With the street Full
OF Bear Talk.
Chicago Grain and Provisions.

Chicago Grain and PFovisi0ns.
Special 20 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 May wheat closed at Sc, which was a
cent lower than the close to-day. 1t is 10
be remarked that in spite of the wide fuc-
tnations 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 show
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 a general change OF opinion ali around
A great deal more reluctance abOu. putting
out large short lines has been evidenced,
while the market has responded very read
lily 10 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 a
figure in the imitation OF values, which have
shown range OF &c during the week. The
largest advance of any one day was on We'd
nesday, when prices fiuctuated 15sc, but
nearly every day of the week has seen a
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 on Change was
treated to a surprise yesterday, when the
January option jumped from zoe up to SIC.
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 10
I'LL 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 iuctuation of a scant &c.
Lack of support and
TENDENCY TO sYMPATHIZE
with the wheat market have at times been
the factor in its movement, but beyond
these the market has been bare of features.
In provisions there is little change OF note
since 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 a decline of
from 15e to 25c in pork. while lard and ribs
have scarcely fluctuated. The two latter
writing. There has been a
very quiet trade in provisions
throughout the entire week, but the indica-
tons point to a 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 \ &c
and advanced S@$[c, May being traded in
at S6ss@s61%c. That option then dropped
back to the neighborhood of Soc, where il
closed at O'Clock. Business was light and
chiefly of a 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 /, $50. 900 bushels. Lindblom saws
that the decrease will not be more than
l, 600. 600 bushels. Hutchinson sat stOlidly
on the floor and did not sell any wheat.
The crowd of little fellows. which has been
expecting him for two days TO send in his
brokers and throw over the wheat that he
is believed to hold, finally gave it up, and
those who were short and were waiting for
Hutch's selling TO cover gave up waiting
and covered. This put May up 10 S63Sc.
Corn was stronger and higher for the dis
tant futures, partly in sympathy with the
strength in oats and TO the buying of large
operators, who advanced il L@$sc.
Receipts were fair. but The shipping demand
was small. May opened at 401Sc and adj
vanced TO 405s @4O1lc. and closed al 4Ossc.
B@Ac higher than yesterday. February
sold at 36@S6L4c, and closed at 36Ac.
Oats this morning started at 35c for Janu-
AIRY, with Lamson Bros. bidding that figure
for cash and with a 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 CONNER"
operating as if it were sort of gambling
deal. The stock of oats is said to DE not
over $4,000 bushels. The receipts are
pretty liberal, but they grade execrably.
not more than one-fifth of the ears 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
150 900 bushels. 1t is more apt TO be $780,
900 bushels. To-day. of course, practically
closes the deal. and January at the close
sold at Soc. Provisions were active, strong
and higher. Trade was good in all product
and was well distributed throughout the
months, May and February leading. Feb -uary
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@171Sc higher, lard 21{@5c, and ribs
TL@l215c higher. The movement OF lard
during the month is thought to have been
larger than calculated upon, and many look
tor showing of stocks below the usual es-
Inmates.
FINANCIAL.