St. Paul daily globe., 1889-02-09
THE COMMERCIAL RECORD.
Frightened Shorts, Including Old Hutch,
Rush to Cover, and May Wheat
Advances Two Points.
Corn Firm in Sympathy, Oats Dali But
Stronger, Provisions Also Ad-
VanCiEg.
Financial Operations in the Monetary
Centers---The General Quo-
taiionS.
Snecial TO the Clohe.

advance III JliiS market, even Uelolo 'iio
opening on change to-day. Last night
the curb was strong, and this morning
there was great nervousness on the part
of the shorts. 1t was found that the
chief short and anxious one was Is. L.
Hutchinson, who had all his brokers III
the pit to buy at any price. The mar
ket opened sc over the close at Sl.02f2.
There was sudden rush to realize by
few local longs, and the. blocks offered
by them caused a dip to Sl.0238. Ihe
shorts were not satisfied, and Hutchin-
son had plenty of company, and staying
company, on the buying side. The
parties who had been selling here and
buying at the relatively lower markets
in New York and st. Louis saw their
dilemma. with prices up 2(d3c here. and
only 11$011c at other markets. and they
were glad TO buy here. Dun Y Co.,
Robert Warren, Schwartz & Dupee,
Walker x Co., local shorts, and tue
Northwest followed by scalpefS and
tailers, all bought as if safely depentied
OIL it. Bloom. Kent and Mitchell were
among the leading sellers. Murray,
Nelson IL Co. became conspicuous sell
erS at nearly top prices, and the crowd
quickly Jumped at the conclusion that
the house were unloading some of Fair
banks wheat The action of the market
was very sensational, and the heavy
losses sustained by many OF the local
shorts caused feeling OF nervousness.
The action III May was 81 or. to Sl021s,
toS104, to 81. .031 to 81. .043s55, to S1.03;s, to
s1.05, to SI.03L., to $1.033s. to Sl021s. to
SL0Ss1 at / p. IN. The sustained adj
vance at that hour was &C over the close
last night. The top price, sl.05. was
nc over the close laStWeek After tue
storm was over, the advance was as
cribed to al oyeIsold market, frightened
shorts and very timely aid from foreign
and Northwest buyers. July wheat
sold between aO1s and 91=sc. Receipts
We're % cars. During the last fifteen
minutes of the session May wheat
moved nervouSly ABOUT several times
from S1.03$l to Sl.0414, and at the close
was at $i.04, or 24c advance for the
day. There was not much trade i'll
corn, but the market was firmer OH ac-
count Of the strength in wheat. Re-
ceipts, 42S cars. Oats were dull and a
shade higher for May. Receipts, i13
cars. The provision market opened
quite firm, with ribs and lard 2lac
higher and pork TIC higher for May de-
livery There were some advances be
fore the call. and prices were maintained
at the advance to the close.
TIE ROUTINE REPORT.
rTTI1vtCo Fab 8 S-DraHinV in wheat
was active, and huoyant feeling was
developed, though the extreme outside
prices reached were not maintained.
The opening was 1lda3c higher than
yesterday, and advanced very sharply,
though not without Intervening fuctu-
ationS, q C more. then declined 20l2113c,
ruled iirmcr. and closed about :.14c
higher than yesterday. Early in the
day there was apparently very little
wheat on sale, and all offerings were
snapped up by the ''sh0rt' Interest, who
general. and outside orders were very
numerous, the covering being for out
side, as well as local traders, The
short interest was thoroughly fright
ened, and not until prices had scored a
material advance Nas there any wheat
of consequence offered. Near the top
some large traders identified with the
'buil' side seid fair quantities, one
operator being reported as letting go
1,000,o0O bushels LONG" wheat, aud
other large traders also sold considera-
bic. This held the advance i'll check,
and decline of 29D215c followed. after
which the market held within
moderate range. Corn was ratfierq quiet
most of the time, though at times it
exhibited moderate activity. The feel
ing was comparatively steady, and fIuc-
tuations did not vary much from yester-
day. There were very fair offerings
early, which were absorbed largely by
room traders, after which the market
advanced 3se, due partially to the
strength in wheat, then eased Off some
and closed 1sc higher than yesterday.
Oats were more active and firmer, ad
vancing &c and closing steady at about
outside prices. Quite a good specula-
tive trade was reported in mess pork.
Opening sales were made at 5(G7IIc ad-
vance, and further improvement of
121lMl5c quickly followed. Later the
market ruled weaker, and prices re-
ccded somewhat irregularly 12HGl15c.
bGtSoen rallied again 15(o,l715c. Toward
the close prices settled back 5Ge7lIc,
and the market closed quiet. A fair
trade was reported in lard, and the feet
ing was steadier. Prices ruled 2jS(a5c
higher, and the market closed steady at
medium figures. Short ribs, sides. were
only fairly active, and the feeling was
stronger. Prices advanced 5(d7l$c, but
outside figures were not maintained to
the close.
TIE GENERAL QUOTATIONS..
Wheat, No. l, February, opening,
9914c; closing &1.0l; March, opening.
SlG0sl, closing Sl,o9i4: May opening,
Sf.u2I5; closing, S1.0375; July, opening,
Ole: closing, 90l5c Corn. No. 9, Febrn-
ary, opening, 81 &c; closing. 34EEc:
March, opening, 3J2sc: closing, size;
May, opening, 35s4c; closing. 35JIc.
oats. No. ?, February, closing, 24sIc:
May. opening, a6}sc; closing. 2715c;
June, closing. @7c. Mess pork (peT bbD
February, closing. S1l.3715; March,
closing, s1l.47jE; May. opening. s1l.55;
closing, $l1.671s Lard (per 100 lbs.} Feb
March, opening, $3.50; closing, SG.SI11I:.
Short ribs (per 100 lbSj February, closing,
May, opening, s6.15; closing, s6.22lI
Cash quotations were as follows: Flour
--Firmer. but not quotably higher: No.
9 spring wheat, Sl.0l: No. spring
wheat, S0@92c: No. 2 red, sl.0i. Corn
No. 9, 34@3sGr3f$lc. Oat5-No. 2, 249(c.
Rye-No. 2. 45]zc. Barley--No. 9, nom
mai. FlaXSeed-No. =, Sl.09tGl. go.
Prime timothy seed, $3.50. Mess pork,
per bbl, S1.37 l5G11.5e. Lard, per 100 lbs.
SG.S7lI. Short ribs sides Qoose), S6.05Qi
els. Dry salted shoulders (boxed), 1886
toeG. Short clear sides (hoXed), $3.50
Il .3715. WhiSky-DiStiliers' finished
goods, per gal, S1.03. Sugars, un-
changed. ReceiptS-Flour. 5000 bbls:
wheat, 10000 bu: corn. d., 900 bu; oats.
12SGO0 bu; rye. 1000 bu; barley, q, 900
bu. Shipments - Flour, G,00O bbls;
wheat. $4,000 bu: corn, 21.0oo bu: oats,
$4,000 bu; rye, 1000 bu; barley, $1,000
llI On the nrndnrn eXchanon fn-tlay