St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-12-05
The COMMERCIAL RECORD.
Bulls Take Hold Of The wheat Market
With a Vengeance, Prices Advanc-
ing Two Points.
Corn and Oats and Provisions OF AL
Kinds Advance in SYM
pathy.
Financial Operations in the Monetary
Centers---The General Quota
tons.
special to the Globe

Special to the Globe -.
Cp1cAGo. Dec. 4.-The influences IN wheat
today we're not much different from previous
oncs-they were such as the professional
traders made Them The opening was ABOUT
closing nrices on Monday. The OPINION pre-
vailed that the plungers were snort ol WHEAT
and for This reason, as well as because tie
big break seems TO demand petter reac'i0ii
than has as yet come, the market was eisHy
Influenced on the bull side. Early III the o'y
the price of May went up j &c, ana theIe was
a similar action al New York ana 81. boui''
with Duluth little affected. There was sumo
talk about taking of wheat at san fraiiGiseo
for Australia, but this was llttle heeoeu ~
in the day. One encouraging feature mere
wes the buvinq feeling at New York in the
face of the very weak British cables. lheIe
,,oro Some c,earances at New York-24, 900
bu. Receipts at Northwestern marhe's
were light. Here the receipts were
but 80 cars, and no NO. "hea''
outside of 7 cars on special track.
AS the market advanced from OPEN
ing prices it appeared 10 become stronger
december sold at S1.011401.0284; January.
81 G2s.Gnl .O434; May sold at Si.0S4, touched
81 OS1s. went up to S1.10s8 about noon, an
advance from the bottom of 2Ac. Shortly
before the close the price was unsteady at
about 81 10. Wheat closed quite active
very nearly the outside prices for the Gays
Nav closed at 81. 1O14, or just &c over last
night. Receipts of corn to-day were |1o
cars. Opening prices were about steaoy, put
there was q heavy feeling during the fore
neon and prices went to the lowest points OIL
the year. December sold down to 34S4c'
closing at 354c; January to 341Sc, CLOS
ing at 35SS@3512c; May to 31$4c, CLOS
ing at 3slsc. The rally was largely due
to the strength in wheat, which brought
a few outside buying orders III the corn
pit. There was also a little buying by shorts
in Nav. Out inspection for twenty-tour
hours $4,000 bu. No charters were re-
ported to-day. Oats were active, stronger
and closed l4@ssc higher. The advance was
only natural after the severe break OF yester-
day. The opening was easy at 1sc decline,
dropped lsc more on free selling by longs.
rallied sS@I2c on increase buying by local
and outside parties and closed at the top.
Receipts were fair, but out OF 10 cars only
90 graded contract. There was fair volume
of trade i'll provisions and prices at the close
were about steady for ribs, 5@7l2c higher
for lard and 12l2c higher for mess pork.
January lard sold at 81 1907. S2la at the
close and January pork, after opening at
Sl3.42I2, touched SIS. 40, sold up to $13.57l2,
back to $3.50, closing at S13.45.
THE ROUTINE REPORT.
CHICAGO, Dec. 1.-The course OF wheat TO-
DAY gave operators another surprise. The
market oIened easy, but SOON developed
strength, and an advance of 2Ac was es-
tablished. after which a reaction of 84c fol
lowed, then became stronger again, and
closed about &c higher than yesterday. Trad
ing was fair. All domestic markets ruled
stronger. There was some "bull'' news on
the floor. and this, with good buying credited
to supposed "bull'' combine, were reasons
assigned for the up-turn i'll prices. Operators
perhaps found themselves short on the
up-turn, and were anxious to cover Perhaps
the principal news was the report that three
cargoes of wheat were loading at San
Francisco for export to, Australia, sup
posed TO be due to the partial fail
1n s the e crop s RRy Of fF0uR b Th 4ecept
In the Northwest was again revived, and the
arrivals at Duluth and Minneapolis showed
falling off, but operators have become ac-
customed to hearing the predictions of small
receipts in the Northwest, and with some
this piece of news tell fiat. Corn ruled quiet
most of the session. after trading being OF
light volume, and fluctuations limited to
l2c range. The feeling, with the exception
of short time after the opening, was com
paratively firm. There was little outside
news of importance received, and the mar
ket was governed to a considerable degree
by local influences, the chief of which were
the operations of prominent local trader,
who was credited with buying December and
May and selling January. Opening sales
were at slight advances over the closing
prices of yesterday. after which the market
sold off Ac, rallied I2c, ruled steady and
closed Loose higher than yesterday.
Oats-Trading was fairly active within a
moderate range. The opening was easy at
lsc decline. After further break of lsc,
buyers took hold more freely. and although
offerings were liberal, they were all absorbed
firm at about outside figures. Mess pork
opened stronger and about 10c higher.
further improvement of 12l2@15c was
gained, when there was more inclination to
sell, and prices gradually receded 2O@22l2c.
Towards the close the market was steady and
prices rallied 10@12l2c. Transfers of con-
tracts from January to May were made at
42l2@45c difference. In lard prices ruled
7120110c higher early, but settled back again,
and finally closed at outside figures. Trans
fers of contracts from January to May were
made at 15@17l2c difference. In short ribs
prices ruled 5(110c higher, and closed very
firm al outside figures.
THE GE n 2RAL QUOTATIONS.
Wheat-December opened at S1.O1l2,
closing at 1.O3I2; January, S1.O3, closing
at $1.05; May, $1.0Sl4, closing at S1.10A.
Corn-No ,, December, opened at 35c, clos
ing at 354e; January, 35Ac, closing at
35ssc; May, 3Sc closing at 3Sc. Oats-No.
Q December opened at 251sc, closed at 25I2c;
May, 2914c, closing at 29l2c. Mess Pork.
Per Bbl-December closed at 1888: Janu-
AIRY opened at S13.4212, closing at SI3.4 As:
May, $13S7, closing at $13.92I2. Lard, Per
100 Lbs-December opened at S., closing
$50; January, 81. 77l2, closing at $7.S2l2;
May, $3.50, closing at S7.95. Short
Ribs, Per 100 Lbs-January opened
at $685., closing at S697l2 May
opened at S7.12I2, closing at S7.15.
Cash quotations were as follows: Flour
quiet; nominally unchanged; trihe firmer
for winters. Wheat-No. 2 spring. S1.O3A
@1O3l2; No. 3 spring. s9@99c; No. 2
red, $1.034@1.03l2. Corn-No. 2, 35Bc
bid Oats-No. 3. 25l2c Rye-No. 2, soc.
Barey-No 9 barley. 76c f. o. b. Flaxseed
No. l. Sl.50I2. Timothy Seed-Prime,
$3.50. Pork-Mess, per Dbl, $13. 37l2@
1880. Lard-Per 100 lbs SS.O509. 10.
Short Ribs--Sldes Qoose), S7@L10; dry
sailed shoulders Cboxed), S6S7l207; short
clear sides (boxed), S7.5O@7. 62l2. Whisky
-Distillers' finished goods. per gal, 81. 20.
Sugars-Cut loaf, e@S5sc; granulated. 7l2c:
standard a, 7Ae; Receipts-Flour. 5000
oats. $4,000 bu: rye, 5000 bu; barley
$4,000 Blu. Shipments-Flour, 5000 bbls;
wheat 1900 bu: corn, 49,, 900 bu: oats
10000 bu; rye, l., 600 bu; barley, 81, 900
bu. On the produce exchange to-day the
butter market was unsettled; Elgln cream
cry, 35@36c; choice Western, 29@32e;
fancy diaries, 25@27c fair to good, 1SQ20c;
eggs in fair demand at 20922c.
r. M. NEWPORT & SON,
Investment Bankers,
152, 1913, 154 Drake Block. Loan Money