St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-09-25
The COMMERCIAL RECORD.
Anxious "Shorts" Try to Cover and
Send Wheat Up Nearly Three
Points.
IN Easy Feeling in Corn, Oats and
Ribs, With Lower
Prices.
Financial Operations in the Monetary
Genters---Fhe General
Quotations
Special to the Globe.


higher about noon to-day in this market,
E1thout any great commotion. The early
tables were Of quiet, steady kind, and
opening prices here were little different from
the close on Saturday. Then the Northwest
was heard from. December was quoted
plump &c higher at Duluth, and buying Or
ders were IN the market from the wheat sec
items Of Dakota. The percentage of contract
wheat is very small at st. Louis and Mime
apolis There was a marked advance in the
price Of cash wheat at nearly all
foreign markets These facts took
hold of the crowd, and they for
got the seaboard, forgot the millions
of wheat already passed Chicago and await
ing foreign buyers. There was a craze to
buy while the price was climbing &c the first
two hours. with Hutchinson taking profits
by selling on the bulge. There was talk of a
slight decrease in the visible supply where
fairly large increase was expected When,
therefore, the visible figures later showed a
decrease of 36S, 900 blu the climax was
reached for the session, and December wheat
went squarely to 96c, having opened at 93l2c
three hours before May touched 9S5sc, an
advance of 2I2e from the close Saturday.
Receipts here were 255 cars and the esti-
mate 242 cars. Out inspection $4,000
bu Corn Prices moved within a
rather narrow range, and closing prices were
lac lower for the month of october. There
was a fairly good trade. Receipts, l, 1O2 cars
and 23, 800 bu by canal. Oats sold within a
narrow range, and closed slightly lower for
September and October. Receipts, ass cars
and 1000 by canal In the provision mar
ket there was little interest. Pork opened at
Sc lower prices than Saturdays close and
Iold off about 1501712c, after which it re-
acted, closing at S14.5212, and S14,67I2 for
October and January, a gain as compared
with Saturdays close of 2l2c in October, and
3 loss of 7I2c in deferred future. Lard was
steady, opening and closing at Saturdays
figures. Ribs closed 212@7I2c lower than on
Saturday.
THE ROUTINE REPORT.
CHICAGO. Sept. 24.-Trading in wheat was
active and the feeling decidedly unsettled
within higher range of prices, aceompa-
MED with considerable excitement at times.
"Shorts, Influenced by the situation as IL
now presents itself, were anxious to cover
and there was but little disposition to sell at
least TO go ''short, though some realizing on
'long'' wheat occurred, and had it not been
for this prices would have run still higher.
At times the offerings were light, most of
the operators who are ''long' feeling conf
dent of higher prices. Cable advlces quoted
quiet and unchanged markets. and the open
Ing here was steady at about saturday clos
ing, became strong and advanced l2@Ssc,
then eased off a trife and ruled steady for a
while, but later rallied sharply on active buy
ing, which started shorts" to covering, and
prices with some fluctuations, were
advanced 2ssc for December, which is
the leading future above the early
or inside prices. The cause for this
sudden advance was the very bullish news
from the Northwest, particularly Duluth,
where wheat was excited and higher with
quotations for May several cents above the
New York market. Advices from the North
west noted an active competition between
mills for the offerings of choice wheat An
other feature which aided materially in
strengthening the market was the decrease
in the visible supply. Operators had calcu-
lated upon an increase, but the blackboard
figures showed that the increase would be
light, and might possibly show decrease
long before the actual result was posted.
The market held firm at the advance, closing
about &c higher for October, 2l6c higher for
Decem Der and &c higher for May than clos
Ing figures Saturday. Speculative trading in
corn was quite active and the feeling little
unsettled. The market opened 14c lower
than the closing prices of Saturday, and then
sold down lac, advanced Ssc, reacted Csc and
closed AlSSc lower than Saturday. Trading
was active early, and the feeling after the
weak opening was better, due mainly
ering by the shorts The large increase
In the visible supply increased offerings, and
this and the estimates for tomorrow caused
the reaction. There was some selling of
largely in October. An easy feeling prevailed
IN oats, with decline of about l4c. Receipts
were large, and there was liberal increase
in the visible supply. Mess pork was mod
erately active at the opening, and market
weaker Offerings were free and buyers
rather scarce. First sales at sc decline,
broke to 10@l5c The break induced fair
buying, the selling pressure decreased and
firmer feeling prevailed. Prices advanced
10622I2c, and the market closed steady.
fair business in lard was done in the more
distant figures A prominent operator sold
freely ana filled buyers up. Opening sales
were at about the same figures as Saturdays.
Close declined 5GI0c on the longer futures,
became stronger and the decline was all re-
covered. Short rib sales were weaker and
lower under early free offerings and absence
of demand. Later a firmer feeling set in,
and most of the decline was recovered and
the market closed steady.
THE QUOTATIONS.
The leading quotations ranged as follows:
Wheat-No. 2 September opened at 94loc,
closing at 99c; October, 93Ssc, closing at
954e; December, 93l2c, closing at 955sc;
May, 96l2c. closing at 9SHc. COrn-No. 2
September opened at 40Ssc, closing at 40l2c;
October. 41Ssc. closing AT 4OIbc; December
371sc, closing at 3114c; May, 3Slsc, closing
at 3SAc. OatS-No. 2 September opened at
23s4c, closing at 23l2c; October, 237S, closing
at 23s4; November, 24e, closing at 24c;
bbl-0ctober opened at SLAB, closing at
S14.52l2; November, S13.65, closing at
1879; January, $3.50, closing at Sl3.67l2.
Lard, per 100 lbs.-0ctober opened at SO so,
closing at $1,000; November, $40, clos
tug at 50. 37l2; January, $50. closing at
$50. Short Ribs. per loo lbs.september,
opened at $40. closing at $S.47l2; DC
tober opened at $3.50, closing at SS.45;
January, $6.9712 closing at So. 97Is.
Cash quotations were as follows: Flour
frmer and 1O015c higher; patents, $500
5.S5; bakers, S3.75@4.S5; inquiry chiefly
city jobbing trade. Wheat-No. 2 spring,
e7i3G99c; No. 8 spring, s20S5c; No.
2 red, 97g9@99c. GornSNO, 4l59o.
Oats-No. 2, 23lsc. Rye-No. 2, soc. Bar
ley-Nominal. Flax Seed-No. l, Sl.30.
Timothy Seed-Prime, Sl.5001.52. Pork
Mess, per Dbl. $1452l2@14.55. Lard
Per 100 lbs, $1,000. Short Ribs-Sides
Qoose), SS.57. shoulders - Dry sailed
boxed, easier; short clear sides 6oxed),
easier. Whisky-Distillers' finished goods
per gal. S1.20. Sugar-Cut, loaf, 8A@sssc;
granulated. 77s0Sc; standard A, 76sc.
Receipts-Flour, 1900 bbls; wheat, So
600 bu: corn, $4,000 bu; oats, 222,-
600 bu; rye, %, 900 bu; barley, $4,000 bu.
Shipments-Flour, 10000 bu; wheat, ID
900 bu; corn, 28O,0 900 bu; oats, 245,-
900 Blu; rye so, 900 bu; barley, $4,000 bu.
On the produce exchange to-day the but
ter market was unchanged. Eggs firm (;
choice northern, l7c.
r. Nj. NEWPORT & SON,