St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-23
ABOVE one DOLLAR.
nav Wheat Leads the Up
Turn in the Speculative
Markets.
Closing Figures Show Gains
in al Cereals and Hog
Products.
Stocks Open at Low Figures,
but an Advance Sets
in Early.
Heavy Buying, and Closing
Figures the Highest OF
the Day.

CHICAGO. Nov. 22.-There was llVeiV up
mrn in The speculative markets and substan-
nal advances we're maintained at the close.
The resting figures show gain OF llsc i'll
wheat lie in corn, Ice in oats ana 2oc III
pork The wheat market opened quiet but
Grm at about the closing figures OF the pre-
yiouS day May wheat changed hands al the
start al from 995sc to 99s4e, but quickly ad-
vanced to 81 December was in good de-
mand, bat sellers of tina; future could not at
all times be found when wanted, and from
This eaus e, buyers being III the majority, the
Inference between 1t and May narrowed to
,bout Gs4c, which spread was maintained
turing the greater part of the session.
rne returning confidence in the financial
outlook was one of the causes which
invited purchasers at the opening. The New
York dis patches were for the most part or an
Encouraging nature, although some uneasl-
ness was created here al L critical period or
he DAY by = rumOr that the usual New OK
bank statement would not be issued. It's sub
,eQUeut publication and reasoning figures
gave THIS market a quick reaction from
weak point which had resulted from the as
,ignment of the United states Rolling Stock
company. OF this city. The price gradually
fdvanced until May sold at 81 .0C'sS. and It
had reacted 10 about SlOi Is AT The time
be failure OF the rolling stock company
ieferred 20 was sprung upon the trade. The
10 St,000,U0u called up visions
in the minds OF the specula-
lors Of another bad time breed
ing foC financial institutions. and there vas
an immediate rush 10 sell wheat. The price
tumbIed at once TO S94c There were too
many shoTts waiting for such chance TO
cover their lines to allow of the decline going
very far, and the reaction on their buying
was as quick as the decline which preceded
1t. Ii very soon sold aS high as on the first
advance, and during the remainder of the
day there was only one course TO the ten
ieucy OF prices, and that was an upward
one. For some time May was retained close
around 81 and between 99IS and $50 ls.
William Dunn entered the pit wi some buy
ing orders in his hand and kept taking it so
steadily that ii was soon Surmised that he
knew something" After filling his card he
showed the dispatch printed in another col
advising an excited market at Minneapolis
for cash wheat, and Be advance in the price
there. the French Commission company, OF
kansas City, likewise reported an advance in
cash wheat OF 4c over yesterday S prices, and
New York wired that export orders could
not be filled on account of The cash article
having advanced relatively more than the
futures. The English farmers deliveries for
the week showed slight decrease in the
quantity, and an advance Of Id per quarter
IN the prices. The market became rather ex-
cited under so many items of bullish news,
and May advanced to Sl.0O7s and December
9lAc. New York toward the close reported
the taking of four loads of No. . red
tor January shipment at the prce
of the May delivery. The story of
the days operations in the corn pit
might be summed up in two words-scared
shorts. The same nervousness which pre-
vailed among those having short wheat was
noticeable among the corn spectators. The
price at The opening was about nc higher
than il closed on Friday afternoon, May
starting at 53c. There were some sales Mt
.. 7Sc, and it worked off from 50 to 52s4c.
The fluctuations were for some time con-
fined to the range already given, but when
wheat became so very strong corn sympa-
thized. There was a decline 10 525sc on the
rolling stock company s failure but the re-
covery was rapid. The latter half of the
session saw an advance of ] &c from the low
noinr. Oats were fairly active, stronger and
higher. and after an advance OF 3sc the mar
Het closed steady at almost outside fig
ures, with net gain of l2Gl5sc.
POIk-A fairly active trade was reported,
and prices ruled somewhat irregular Open
ing sales were made at 1!90lnc advance,
and then reaction of sc followed Later
prices rallied Toe. and q reduction of 15c
was submitted to. At decline shorts bought
moderately. and prices were advanced 2UM
25c which was fairly well supported to the
close. Lard Trading was moderately active
Opening sales were made a sc advance, and
further appreciation OF Zl205c followed.
with moderate trading. Later prices receded
5@1 s2c. Toward the close prices rallied ZIP
Cite, and closed quiet. Short Ribs-Rather
good business was transacted, and prices
ruled irregular within a moderate range.
Opening sales were made at 2l2@D5c advance,
ana further improvement of sc was gained
Later prices receded 507l2c, rallied 5@7l2c,
ard closed steady.
The isadiHg futures ranged as follows: