St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-18
MUSIC FROM SHORTS.
Lively Trading on Change,
and Wheat Closes Quite
Firm.
Reported Sales Of Wheat for
Export Stiffens the Whole
Market.
Wall Street Stock Market Re-
mains Firm to Gener-
ally Strong.
Slightest Attempt OF Bears to
Cover Causes Quick Adj
vance.

CHIoGGo Dec. 17.-There was slight I'M
pIovement in the tone of the wheat market.
First sales were at 81 for the May delivery.
with some trading also at Sl.00ls. The Of
ferings were rather in excess of the demand
al those prices, and 997sc soon became the
trading price. There was decline 10 99l2c
within the first fifteen minutes, and for two
hours succeeding that time the fluctuations
kept within the limit of the price last named
and 9934e. A good deal of the buying which
took place around 99l2c was against the Sc
cnrity of puts bought on the previous after
noon. There was, as well. considerable COW
ering of shorts at the same time Poole-Sher-
man purchases, which were considerable,
being reported for account of Kent. who had
been all open seller for a week. The liveli-
ness which shortly after II O'Clock was OBJ
seryable in the corn crowd woke up the
slumbering wheat pit. and there was lively
music from the shorts as the price made
sudden advance from around 99L2c TO
Sl.0UA. Then came reported liberal sales
of flour for export, and the purchase of nine
loads of wheat at Duluth for export
which helped TO maintain the firmness which
had first been started by the advance in corn.
The market maintained the siren sth 1t had
so suddenly acquired until 1t closed, and the
trading price as the bell tapped was $40 u,
which was the highest price OF the day. with
an easy tone. The corn pit for a long time
looked as If its life had been suspended, and
prices had dropping tendency, which was
undisturbed to any great extent until about
noon. Near that hour an inquiry for De-
cember corn all at once appeared to spring
out of the ground. without premonitory
warning. No one appearing to have any for
sale, although 53c was bid for it, 53s4c was
offered. Very little came out at the advance.
and, the buyers being urgent, they offered in
quick succession 34c, o4Ac, 55c and 56c be-
fore the orders-which apparently were very
pressing-could be filed The Weare Com
mission company were the most Unsuitable of
the buyers of December corn. Meanwhile
the May delivery had started at 55c, or 5sc
better than 1t closed yesterday. and there
were some sales about the same time at
5336c. Half cent was knocked off the
opening values in the first fifteen
minutes apparently in sympathy with a
similar state of affairs in wheat at the same
time. There were sales at 55Isc 10 a limited
extent. and for q considerable portion of the
first half of the session there appeared very
little probability of the price getting above
53A@53Ssc. When the December delivery
stiffened up, however, there was an imme-
dlate advance under strong demand for
shorts for May, and it RAPIDLY improved in
price until 54Ac was paid. The shorts were
age during the remainder of the session, and
the prices did not after once passing 54c get
below it again, and, in the last few minutes
it made further advance to 4l2c and
closed steady, with buyers at 54s8c. Per-
-haps not over $4,000 bu of corn for Decem-
Der changed hands altogether, but it pro-
duced a very yeasty effect, as may be inferred
from the foregoing. Pardridse's brokers,
who had been plugging the market-to use
a slang expression of the pit-all morning,
were active buyers on the advance, and
B. p. Hu Crimson maintained his usual
equanimity while keeping strong
brigade of brokers rapidly circulating be-
tween his chair and the corn pit with buying
orders. The closing price to-day is lie higher
than at the corresponding time yesterday.
There was light trade in oats. The market
opened steady at dc for May, declining
with corn. Hutchinson, Counselman and
George Parher then began buying and corn
started up. These forces combined to cause
an advance TO 4584c. after which the price
reacted to 45l2c, the closing being lee
higher al that figure. The provision market
of the day before. The tendency shortly aft
er trading commenced was downward and
this was continued during the forenoon, but
owing to the strength developed in the grain
markets there was a rally later and prices for
pork showed a moderate advance over those
at the corresponding time on the day before.
Lard and ribs were virtually unchanged from
Yesterdays prices as trading ceased. The
heavy receipts of hogs were a depressing
feature and the price reported from the
yards was maintained at and below the
former low level.
The leading futures ranged as follows: