St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-08-06
ASURPRISE IN THE PIT.
The Correction of a Blunder in the Report
of the Amount Afoat Imparts
STRENGTH to Wheat,
But Selling Orders Prevented Much Ad-
vance, and the Close was Only
Fraction Up.
Corn and Other Articles F1uctuated
Within Narrow Limits, and Closed
as on Wednesday.
The Stock Market Dull, But Prices
Were Improved--Bulling
Granger Shares.
Chicago Grain and Provisions.

Special to the Globe.
CHICAGO, Aug. 5. "A surprise was
sprung OH the trading world this morning
by the official changing of 1, 500, 900 bushels
decrease of grain afoat to increase" in
stead. 1t completely changed the COM
pleXion of the statement and brought out
quite considerable strength where formerly
the tone had been little better than weak.
This, with the local buying, inspired put
wheat up almost cent by IL o'clock, Sep
TENDER then selling at nc, after opening at
761c. There were a good many orders on
the floor to sell, but the bulk of them were
a little over nc, and by no amount OF noise
or scientific bulling could the market be
made to go there. From everything except
the scalpers' standpoint it is just as well
that it didn't, for it would not have been
permitted to stay up if it had got there.
The down-grade action began after wheat
had rested while at TIC, and inside OF a
quarter of an hour made it - cheaper
Gables worked against the market during
the latter part of the session. A strong eff
fort was made to hold the market by pur-
chasing against ''puts." The talk is that
Hutch alone sold puts on about 1000, 600
bushels last night. The attempt was mod
erately successful, as the tone kept gener-
ally steady. After 1880 wheat began to
grow quite heavy. and fell back to 1920
under more or less unloading by early buy
ers. Duluth reported the first car OF new
wheat in to-day, earlier than in any pre-
ceeding year.
BULLS IN CORN
were rather noiser to-day, thus infusing at
least an appearance of life into the market.
They had, too. good showing of bull
ports continue to come in. Carr 81 Co. are
in receipt of some of very bullish news
from S. W. Pearce & Co. of Dubuque.
They cover the most important points in
Western Iowa and Nebraska and are very
diScouragng. Our inquiries" the letter
says, ''were directed mostly to stOckmen,
as we consider them the most reliable at
this time OF the year, being themselves
feeders and coming in contact in their hog
and cattle buying with the largest and best
class of farmers. The answers, summed
up, say: by carefully examining the
ears we find them dry and without life or
substance. One cattle dealer, who a
week ago ridculed the damage talk now
says he is satisfied corn is gone up for good,
and instead of feeding about 800 head of
cattle, as he intended, will not feed any,"
September corn opened u easier than it
closed, selling first at 434c. From there it
went up quite steadily to 441ac. There was
very little sold at the opening figure, though
there was rush to buy it. From 4414c it
fell back to 44c, where it stood quiet at
1880 o'clock. Our receipts were 400 cars.
st. Louis had 100 cars. The final close
was easy at the slight advance noted
Pork was generally steady and fairly firm.
September ranged from $9.4711a to S9.65.
PETER BERKEY, Pres. +. W. ANDERSON, Cashier.
1.W. GRIGGs, V. Pres. A. C. ANDERSON, Asst c.
THE ST. PAUL NATIONAL BANK,
CAPITAL, 100000.
Corner Fifth and Jackson streeta