St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-07-27
A LIVELY DAY IN WHEAT.
Big Bull Operators Go Cunning
for the Army Of
Shorts.
As a Result a Great Many
Longs Unload at Fancy
Prices.
Financial Operations Of the Money
Kings---The General Quota
tons.

CHICAGO. July 26.-The day in wheat
was lively one. The range of prices
was not so great as yesterday, but the
situation was none the less strong and
the market broad. There was still
short interest in the market this morn
ing, and few of the leading bulls, well
followed by the crowd, went after
them. There were no surprising devel-
opments, and while shorts were getting
under cover great many longs who
bought furiously yesterday were quietly
unloading at the fancy prices. Con-
spicuous among tle early buyers were
Logan & Co.. Baker & Co. and Roche.
They were after wheat and after short
sellers. They got a pile of wheat from
Bloom and many others who took out
big profits since yesterday morning.
Later in the day Comstock and Clifford
and many others sold out good lines
and caused temporary reaction in
prices. Receipts here were 164 cars.
The estimate for Monday was 1876
cars. st. Louis received III, 900 bu, and
wired that great increase in receipts
is expected Monday. Minneapolis dis
patches again reported liberal accept
anceS of flour at an advanced price.
Pillsbury wired that the trade will hear
of more damage to wheat from heat be-
fore the end of next week. Durham
had dispatch reporting 90 deg. at Park
River, n. d., and saying that wheat
cannot stand extreme heat now. Brad
nfx WI, RI
for the week $4,000 bu, against 1,997,-
600 bu last week, and 1,3S5.000 bu the
same week last year. New York cleared
10000 bu of wheat and 5000 bbls of
flour, and reported twelve boatloads of
export business. There was a renewed
effort OH the part of the bulls in wheat
before the close. The pit became very
animated, and prices went to the high
est figures of the day, and closed but a
fraction under the top. July closed
at 92c: August touched 92Tc, closing
9215c, September went again to 942c,
closing at 941sc; December touched
$3.50, closing 95a4c; May sold 994c,
closing 99Tc. Corn was excited and
made most sensational jump. Sep
! TENDER climbed skyward and was in
| its most exciting phase when the clos
ing tap of the bell sounded. 1t closed
at 43c, OF 214c higher than on the day
before. The rise was not steady one,
but the opening at an advance over
night of nc unnerved those who were
on the short side of the market, and
they were in the end thoroughly
| ,rl,t cd hn fO
circulate about the extremity of the
heat in the Northwest, which it was
feared would have descened on Mon
day over the belt. The damage to the
crop already done and further disaster
in prospective were the causes which
ruled the throng in their deal
| ingS. Another advance was chronicled
in oats as the result of heavy
covering by the shorts. The opening
prices were from nc to nc higher,
while considerable frmness was de-
veloped as the result of heavy buying
orders and limited offerings. There
was an advance all along the line until
the desired quantity had been obtained.
when an easier feeling was developed
on the decline that followed. Trading
was fairly active and the market very
excited at times. The provision deal
was much more active than for very
long time. There was a general buy
| ing mania all over the floor of the ex-
change, which did not neglect to in
clude the dealers in the hog products.
There was heavy advance in all the
articles dealt in in speculative way.
July pork advanced sc, closing at
1880. September closed SOC higher,
and January 671ac, the respective clos
ing prices for these months being S11.05
and S11.20.