St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-11
JACK fROSf'S INFLUENCE.
It Is Felt Among Operators in Wheat,
Who Are Now Somewhat
Alarmed.
Prices Go skyward and Closed Firm
and Two Points Higher
Yesterday.
Financial Operations Of the Money
Kinas---The General Quo
taiiOns.


Northwest and j. R. Dodge at Washing
ton between them kept wheat speculat-
ors in ferment. To-day the market
was very irregular and feyerish, ending
finally in victory for the bulls amount
ing to 11sc per bushel in the Septem-
Der delivery and &c in the December.
Corn was likewise bullish, and gained
nc in the September delivery and the
same in May. The wheat market at the
opening was easy for monochrome
brief moment-during which there were
sellers of September at $500, Which
showed just a slight tinge more bear
ish feeling than prevailed at the close
of the previous days session. Instantly
all were buyers at the price named. with
none for sale. Up and up, sc at
time, bids followed in rapid succession
until 961lc was paid, and trading, which
for minute or so at the
beginning was not particularly
active, became quite lively. Business
quieted down after the first fifteen
minutes, inside of which time the
changes here recorded took place. The
weather map showed the temperature
at St. Vincent, in the far northwest.
had gotten down during Friday nlghtto
&c. and at Bismarck to 40. This raised
visions of frost damage on top OF what
the heat had already done to the spring
wheat, and although this point was
known when at the opening all were
sellers of September wheat at $3.50, 1t
lott to
cause OF rapid squirt to 9754c, which
took place when the session was about
one hour old. The export clearances
from the three principal Atlantic ports
were liberal, amounting to 1858 pkgs OF
four, and 1851 blu of wheat. in addi-
ton to which 10000 bu of wheat were
cleared yesterday from New Orleans
for Rouen, France. The receipts here
amounted to 156 cars, and the
quality inspected out of store to
1880 bu. There were reports of some
export business passing New York, six
and half loads being taken up to
o'clock. The indications given by the
weeks receipts and shipments are for
decrease in the visible supply this
N.
were reported at Is cars, 25 cars being
the shipments thence. All of the fore
going items favored holders and caused
the bears who were short the very great
uneasiness which had its expression in
the advance which has already been re-
ferred to. The extremity of the bulge,
was marked by CSC being paid for Sep
I'd
bidding for the latter being particularly
spirited. The frost scare, which arose
from the near approach of last nights
temperature to the congealing point.
was the most sensational bull card OF
the day, and as it was entirely antlci-
patory, no frost having yet occurred
to do any damage to wheat. it
began to lose the effect after it had held
the market up in its icy embrace for an
hour or more. The price gradually
eased off in the last hour, Septem-
Der declining to 9636, and De-
cember to $1,000, with the closing
prices 965s cents for September,
81 .0Os6 for December, and $1.041a for
May. The market for wheat on the
curb was quiet at about 96M cents for
September. The traders in privileges
were giving Mr.. Dodgea six-cent spread
to swing himself in; calls at 2:3O were
$l.OO1s. and puts 9411s cents on Septem-
Der for Monday, The corn market was
also active and higher. The drouth still
held sway in the corn country, and this.
with the firmness in wheat, scared the
timid shorts. The market advanced to
5OA cents for September, and closed
firm at 49T cents. Hutchinson, who
has the September and May options
pretty we'll under his thumb, was the
potent factor in the oats market. He
was heavy buyer of both futures, and
although the market experienced a
number of ups and downs, it closed firm
at an advance of IS of a cent. Provisions
were not active. but averaged steady to
firm Prices of product closed with
gain in the principal speculative artic-
les.
rna Iaad;no f,turns ranoad as fol lows.