St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-12
WHEAT TRADERS SHY.
Narrow Fluctuations With No
Active Response in
Deals.
Occasional Spurts Followed
Immediately by Cessation
Of Trading.
Wall Street Stocks Feverish,
But Closing Fractionally
Higher.
Arrival Of Gold From England
Expected to Impart
Bouyancy.

CHICAGO, Dec. 1.-THE wheat market
opened tame at decline of l2c from the
closing prices of the preceding day. The
cables were easier in tone and there appeared
TO be remarkable scarcity of orders on
either side of the market. Fluctuations were
narrow and were in no way as responsive as
usual to such news as cropped up in the
course of the session. The dispatches from
every point of the compass were almost uni
formly bullish, and the refusal of prices to
follow the urging they received from these
indicates mucn smaller open interest than
usual i'll the market 1t would appear there
fore, that the direct effect of the recent I'M
easiness i'll financial affairs has been to cause
conservative lessening of commercial obli-
cations in all directions. including the
grain and provision trades. With any extern
sive lines of shorts outstanding the items of
news to be noted underneath would at any
time previous to the monetary troubles have
sent wheat skyward. AS it was upon the
publication of bull news, there were occa-
sional spurts of A@ssc, which were i'm
mediately succeeded by cessation OF trad
ing. The local receipts were 1877 cars of
which 81 were inspected into the contract
grade. The receipts at Minnea polls were
) 3 cars, of which 1872 were reshipped to
other points, and. as the elevator proprie-
tors of Chicago are reported TO be taking 75
per cent of the wheat which is going out
OF Minneapolis, the receipts to that
extent are Deing regularly duplicated,
are again counted in with the other arrivals
at Chicago. Dulnth received 1872 cars, max
ing the total quantity at the two Northwest
ern points 49, cars, against SIG on the cor
responding day of $50. The reported clear
ances from the three principal Atlantic ports
were again liberal, aggregating Is, 995 pack
ages of -four and 6o.SS5 bushels of wheat.
Besides the foregoing quantities, which were
mainly TO United Kingdom ports, two car
goes of wheat amounting to about $50 BUSH
els were being loaded to-day at New York for
Lisbon: Contrary to expectations. the Bank
OF England did not raise the rate of discount
to-day, the proportion of reserve to liabilities
having actually increased since last week.
Notwithstanding the shipments of gold to this
country and France. "A measure has been IN
Guced, said a cable dispatch, Into the Ger
man reichstag to reduce by 3 marks per 2 %
pounds the i'm port duty on wheat" There
were numerous dispatches received Oh the
floor from Indiana, Kansas and Missouri re-
porting injury to the fall wheat from the
Hess:an fly. and minneapolis dispatches
quoted all improving demand for cash wheat
to &c over Yesterdays prices, with farmers
deliveries in the interior steadily decreasing
The effect of such an array Of bullish news
was slow in showing Itself, but there were
good many traders who picked up q good
deal of wheat early in the session, and on
every accession of encouraging reports
bought more, and indeed this steady absorb
ton of the limited offerings created
local shortage which expressed it
self III some anxious buying in the last hour
OF the session, during which the May deliv-
cry from hanging laZily within fraction of
9Sl2c advanced 10 99Ac. Hutchinson was a
seller, when the trading started; Partridge
was also on that side OF the market. Rum
sey and Chandler, Lawson, Kennel Hopkins
and Schwartz Dupee were among the most
prominent buyers in the first half of the ses-
sion; Hutchinson also came around to that
side in the end. The corn deal was confined
to range of l40$sc, and that indicates the
11felessnesS of the business. There was moth
ing in the shape of outside influences
brought TO bear upon the market. and it was
therefore easy for q party 10 sell heavily of
puts and calls on the previous afternoon to
Keep the prices from going .beyoud
these privileges. May corn started at
54l2c, and a sale OF two occurred at
Lice over that price, about the same time
1t was maintained at 54SSc for some time
but on the estimated receipts of tomorrow of
2o9 cars it sagged to 5-I4c. There was
nrmer feeling later in sympathy with wheat,
and another advance. to. 5Ii2c. Oats were
traded III to Il moderate extent. and an easier
feeling prevailed. but prices changes were
small. Mess Pork-Trading was only mod
crate. At the opening the feeling was steady,
with few orders provided for at about out
side figures. Later the demand slackened.
and prices receded 12la0l5c, but near the
close improved 7I2GSlOc, aud ruled steady
Lard-A fairly active business was transact
ed. Early i'll the day the feeling was rather
firm. with quite liberal trading. but later in
the day reduction of 2I2c was submitted
to- Near The close prices rallied ain ana
ruled firm. Short Rio Sides-A fairly active
trade was reported. On the whole range
prices receded 5@7I2c, and the market
closed quiet at medium figures.
The leading futures ranged as follows: