St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-04-18
THE COMMERCIAL RECORD.
Wheat and Corn Both Opened on the Ad-
vance, But We're Checked by Ex-
tensive Re- lizing.
Cables We're Strong---Hutchinson
Heavy Buyer---Scalpsrs Play in
Hard Luck.
Provisions Averaged Lower--An Effort
to Sell Pork For the July
Delivery.
Special to the Globe

CHICAGO. April 17.-Wheat opened lie
higher and corn atan advance of l2c. Wheat
evinced tendency to climb still higher,
but there was an extensive realizing by Lind
blom, Bloom and other lucky longs" and
the bullish ardor was checked somewhat.
There was large general buying, however,
and the market only reacted l2c, recovering
from the loss promptly. Dealings were on
great scale around S1s4@92c for July.
Cables were strong, and crop advices con-
tinue of the same tenor as those that have
been received for the last two weeks. Hutch
inson has been a big buyer for two days.
The boom got on its feet without trouble
after the little backset it received early in
the day, and kept on gathering in the eighths
until S2a4c was reached. At every lac ad
vance the scalpers sold for reaction. only
to buy i'll wheat again at a loss. They have
been playing for reaction for the past few
trading days. and it has been losing game
with them. Like a mountain stream,
the market has gained in force and volume
day by day. The little trickling ''cricklet" has
become loaIing torrent. 1t is singular
Whata change in sentiment has come over
the spirit of the trade since the advance set
in Ten days ago wheat looked expensive
to nine out Of ten operators on the floor at
75c. 1t was almost friendless, and few
traders wanted surer thing than selling
wheat. Now nineteen men out Of twenty
are rampant bulls. Even Cudahy has turne
bull and predicts 9Oc for wheat with as much
confidence as he did zoe a few days ago.
Ream, too, is said to have experienced a
change of heart Indeed, it is reported that
he was one of the first to flop but that he
was satisfied with moderate profits, and that
he is now cOntenting himself with scalping
operations. Kammerrer, Capt Phillips,
Baker, Dunn, Young. Driver, and the big out
side bulls who trade through BOyn, Paxton d
Boyd, the Weare Commission company, Rob-
ert Warren, and others of that class are I'M
derstood to have very generally sold out on
the bulge taking in wellearned profits.
Bloom boosted to-day that he had sold out
this morning, through BrOsseau e. Irwin,
Green d Co.. at a profit of $4,000.
Leopold always wins or loses $4,000. or
multples thereof. This has been one of his
favorite and lucky years. The commission
mouse scame forward with flood of country
orders to take the place of the bull profess
SIGNALS, and the outside business has been of
sufficient volume TO not only sustain the
market, but to keep it moving. Some of the
long bulls have turned bears and are elbow
ing themselves i'm on the other side. Top
back to sc. There was big, broad market
up and down. The volume of business was
probably at least double the total amount of
wheat sin sight" Transactions were Ger
tainly not less than 5O,OOO,O 900 bushels, and
it may run up away beyond that figure. 1t
was the biggest day of the year. Corn
opened at 56ssc for May and during most OF
the forenoon the price hung around 56A@
56I2c but about II o'clock it shot up to SIC.
When it touched that point shout went up.
The highest point of the December bulge
had been reached and passed and May sold
lsc higher April II than it did on the
9th of the previous December, which day
marked the elimination of the famous boom
that carried corn up 1Sc bushel. The market
was not sustained, however, and worked
back 12c. There was less excitement III corn
than in wheat, but the feeling is quite as
bullish and will probably continue SO until
receipts begin to increase. Receipts to-day
were 165 cars and 5000 bu by canal. The
latter item was a surprise. Very few people
knew about the canal being opened. Esti-
mated receipts for tomorrow are eighty five
cars. Provisions averaged lower. The Anglo
American sold about 10000 bbls of pork
early in the day, and George Baldwin bought
1900 bbls. The trading is gradually work
ing into July, and the clique is apparently
making an effort to sell pork for that deliv-
cry. Pork worked down 15@20c and lard
and ribs 2I2 and 1Oc. At the afternoon session
wheat eased off Ac on heavy offerings, but
closed firm. Corn was also a shade lower.
Provisions we've firmer and pork 2lac higher.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. 2, May, opened at 821Sc, closing
at STAG; June, S27Bc, closing at S2Ac;
July, SIC, closing at s5I2c; December, SEC,
closing at 9675c. Corn-No. 2, May, opened
ing at 55I2c; July, 55s4c, closing at 555sc;
August $3.50; closing at 55ssc. Oats-NO. 2,
May, opened at 33c, closing at 3275c; June,
327sc. closing at 32s4c;, July, 327sc. closing
Pork, per bbl.May opened at sl425,
closing at S14. 17l2; June, S14.25, closing at
S14.15: July closed at S14.2212. Lard,
per 100 lbs-May opened at S7.To, closing
at $40: June, $7.7712c, closing at $40;
July. S7.s31s, closing i'm at at $50; August,
per 100 lbs-May, S7.2O, closing at
$3.50; , June - .S 81 80, i.,n closing at at
August, s7.42l2, closing at S7.42l2.
fair demand; prices firm at slight advance
over last weeks. Wheat-No. 2spring, STAG;
No. 3 spring, 77@79c- Corn-No. 2 56Ac.
oats-No; 2, 32a 44@33aa. Rye-No. 2, 62e.
Sl.45. Timothy Seed-Prime, S2.G5@2 IS.
Per 100 lbs, s.. 1907. 72la. Short Ribs
Sides Qoose). S7.2O; dry sailed shoulders
(boxed), S5.75@6: short clear sides (boxed),
S7.7O@775. Whisky : Distiilers' finished
goods per gal, 81 10. Receipts : Flour,
is, 900 bbls; wheat, 81 900 Blu; corn, LOG. 900
bu oats 1O1 900 bu; rye, 1000 bu; barley
10000 blu. Shipments-Flour, 10000 bbls;
wheat, 1900 bu; corn, 69,0oO Du; oats
II 900 blu; rye. 1000 bu; barley, 900 blu.
On the produce exchange to-day the butter
market was inactive ana weaker: creamery,
2O@25c; dairy, 16l2@25c. Eggs, lower at
12l3O 3Iac