St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-01-12
The COMMERCIAL RECORD.
Bears Take Fold of the Wheat Market
and Manipulate 1t at
Will.
Corn and Cats Dali, Provisions, How
ever, Showing Considerable
Strength ALI Day.
Financial Transactions in the Monetary
Centers---The General Quota
tons.
Special to the Globe.

SpeclaI 10 the GLOBE.
CmCAGo Jan. 1.-THE bears in wheat had
the market easily to-day. For q time after
the opening here the action of the market
was in doubt. Hutchinson did some buying
and it locked as if he wanted to cover big
line. The price of May opened at S1.o3, the
bottom point Yesterday, and the first action
was sharp rally on covering by shorts, be-
cause the market did not break at the open
ing, as expected. The price touched Sl.03S4,
back to S1.03l2, then to 81 OBS Qhe best
point of day. off to Sl.u2S. up to 81 .03lS,
then off after II o'clock 10 $l.02A then up
to Sl.O27s at l o'clock. July sold at 94@
9514c. The failure of Hutchinson to
cover heavily, the persistent selling by
Cudahy and his followers, and rumor
that the crop figures from Washington were
TO show 400. coo. 900 Blu for the years crop
were the influences which made the market
weak The rally from the bottom TO SI.o27S
was after the rumor was found TO be UNI
founded. Another weak feature was the
selling ont OF great quantities of wheat at
New York. Atlantic clearances were about
100000 bu of wheat and flour, mostly flour.
Receipts here were 81 cars. Primary re-
ceipts we're light at all markets Cables were
bearish. The market here was dull when
not declining. The reaction in wheat, which
set in shortly before the close, continued to
the end. The corn market was without
special features Receipts here light,
only "A cars, with but , cars
Of No. 2 and % cars of No
grade. The estimate for Saturday is IT'S
ears Shipments to-day, 9S, 600 bu. Allan
tic ports clearances only $1,000 bu. The
leading sellers were Cudahy and Schwartz,
Dupee q Co. Oats were duh and without
change. Receipts. so cars There
was fair interest in provisions all day, with
the market firm and prices slightly advanced
Receipts of hogs were about $4,000, with
prices about steady Receipts at six leading
packing points were 40,0O0, against 35, 900
one year ago. In the pit Bloom aid Cudahy
were buyers of mess pork. The talk was that
Armour is likely TO advance lrices for the
time.
THE ROUTINE REPORT.
CHICAGO Jan. 11.-In wheat to-day there
was considerable trading within range OF
I5sc Prices were lower and the speculative
offerings again quite large, with good deal
of long wheat reported TO have come out
at the decline. The opening was weaker
than Yesterdays closing figures rallied with
some fluctuations 5Sc, but at the higher prices
Il flood of selling orders came on the market
which carried prices down 1@Sc. There was
Il rumor that The government wheat report
would show Il crop Of 420, 600 600, but no one
could be found that had seen such report.
ana, like the rumor yesterday, Ii may have
been started for effect. From the inside
prices 4 recovery of 5sc occurred. due to COW
ering by shorts. but again eased off, then
ruled irregular and closed about lac
lower than yesterday. There was
moderate speculative business in corn,
though most of the trading occurred early i'll
the session. after which the market ruled
steady and inactive. The opening was at
about Yesterdays closing plices, and under a
good local demand prices advanced 14@sSc.
reacted lB0i4c, became steady and closed
ls@QAc higher than yesterday. Trading in
oats was fair and the market fairly sup
ported, the close being steady at a slight adj
vance over yesterdays. June received more
attention, but trading us yet is light The
near futures also sold moderately at lsGlAc
decline Considerable interest was mani
Tested in mess pork at times, and trading
was moderately active. Prices ruled irregu-
lar. though averaging higher. mode ate
trade was reported i'll lard and the feeling
was stronger Prices ruled 2i2@5c higher
early but closed easier. Very little interest
was manifested in short ribs and trading was
limited. Prices were advanced 2l205c early
in the day. but settled back again and
closed quiet
THE GENERAL QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. >, January. opened at 9Slse,
closing at 9Sc; February, 99c. closing at
99c; May, S1.o3, closing at ,S1.03; July,
AIRY. closed at 3%l2c; March, opened at
347sc, closing at Soc; May, 36s4c, closing at
81 Sac. Oats--No. 2, January, closed at
24lsc; May, opened at 27S4c, closing at
per bbl-January. opened at SIS. %, closing
at 1888: March, S13.55 closing at .S1345:
May. $3.50, closing at $3.50. Lard, per
100 lbs-January. opened at S7.37l2. closing
at 80: March, S7.47l2, closing at S7.47l2;
per 100 lbs-yanuary, closed at S6.92l2:
March, opened at $I02l2, closing at