St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-16
WHEAT IS GOOD STUFF
An Underlying Sentiment of
Strong Bullish Tendon
cies.
Much Minneapolis Wheat Co.
Ing Daily Into the Chi
cago Market.
confidence and Money Grad
ually Returning to Wall
Street. SO
The Market Now Awaiting the
Result Of the Presidents
Meeting.

CHICAGO. Dec. 15.-The wheat business
gave unmistakeable indications at the open
ing OF an underlying sentiment OF strong
pullsn tendencies pervading the crowd. The
opening prlce for May, SI.Ol@I OILS, was
ABOUT h2c higher than the closing price Sat.
urday. The immediate cause of the advance
was the hrm tone OF the cable adyices and n
marked advance in the price of silver ct New
YORK. There was likewise continuation of
saturdays expectation of a decrease IN the
visible supply. The significance of the nd
vance III silver was of course the expected
hihorance II would prove to the freedom, OF
lholan and Russian shipments 1t should
not DC lost sight of in this connection that
snFer was considerably higher than now
nHofIly a1ter lhls years crop began to move,
anu although much was said at that time of
its pararyzlng effect upon shipments from
inuia ana Russia, the exporters of those
countries managed TO put afloat as much as
had Deen expected with silver in a normal
condition. The Northwestern reeeints ne
nrst advised, were very light, and helped the
aoVarce, but as trading was rather restricted
ana OF local character, perhaps Pardridge's
supposed heavy short interest was as infIu-
en'iai a factor with the pit spectators as anv
vi the olhers, ana they accordingly kept one
eye upon his movements and another Oh the
the blackboard which was giving in
dications of the visible supply. The
price continued to fluctuate for hslf
an hour between Sl.O1H and Sl.Ou7s. and
then an advance to SLOI7s took place, the
last malt OF which addition took place too
rapidly to permit of much business while it
was IN progress. There was any quantity for
sale as soon as this nervous buying fever
hau aoated, and several circumstances con-
n hrIr u
versal OF The early hours of the market. In
the frst place it began to be whispered that
Fardrldge was not displaying any symptoms
OF uneaslness at the rapid advance and the
otner prominent Spectator whose name had
been coupled with his as heavily short an.
peared to be actively enjoining the improve
ment i'll prices. In the meantime it leaked
OUT that Nat Jones, once of Chicago, now of
New YORK, who with Cottrell of thu latter
city. mad dumped it on the crowd while
they SO intently watched Bloom and Pard.
ridge. These were the local features of the
wheat pit during the first two hours trading.
Much OF the Minneapolis wheat is daily
coming TO this market, dispatch to F. d.
Brown q Co., from there reporting l7S cars
consigned to Chicago to-day and advising
that engagements had been already made TO
forward 700 cars this week The receipts
have amounted to Ill cars, compared with
263 cars year ago. The Indian ship
ments last week were liberal, amount
ing to $4,000 bu. The visible sup
ply as the figures came to hand
soon dispelled the hope INDUCED in earlier
Dy the bulls that it would show decrease
1t increased 6l7,970 blu, compare with
765,914 bu in the corresponding week n
year ago. The net increase this year since
July 20 has amounted to 6,675, 900 Blu, and
IN the same period of time last year there was
an increase of Ply aO.OU0 bu. The points of
increase last week were Duluth, Minneapo-
us, chicago and Buffalo; and the heaviest
decreases were shown at st. Louis New
YORK, ahoat on the lakes and on the Missis-
slppi. Plllsbury wired that his country ele-
Vators had only taken in 5000 bu from the
farmers last week compared with 81. Quo bl1
the week preceding and another Mime
apolls dispatch reported the stock in CONN.,
try elevators as having decreased $50. 900
bu. The decline which followed the first adj
vance reduced the price of May TO Sl.uOIs.
1t reacted to Sl.OIIs, but once more declined
TO St."O12. at which price it closed with an
easy tone. Corn was inactive, and closed
ssc lower than Saturday. There are indica
TONS OF increasing receipts in the near tut
ure, and the present mild weather is not an
encouragement to prices. May corn opened
at 53ssc, with some sales at 534c and one or
two transactions at 53l2c. and the sales made
az that time were at the top prices of the day
There was decline TO 53c, and reaction to
53A@53$sc in the first half hour after
which heayiness was the feature of
the trade. and a decline to 52I5c
was the result. This was succeeded
by reaction to 52S4c, at which there were
sellers, as the market closed steady. The ex-
tremeiy small stocks in sight hinder sales.
although very general opinion prevails
among local operators that present prices are
al least 8 or &c higher than is otherwise war
ranted by the situation. Heavy liquidation
III oats, superinduced by heavy estimates for
tomorrow. caused a decline of lie in prices.
Several brokers from the corn pit turned in
and ra1ded the market, lending material as
slstance to the bears. Hutchinson was the
heaviest seller. The May deal opened at
4o1sc, or lac lower, declining to 4442c, and
nuctuatlng between that price and 44s4c for
time. Then the raid began, and the mar.
ket went of to 1880 ana some was sold as
low as 43a4c. 1t afterwards recovered to
44l2c, but another decline occurred, carry
ing the price down TO 44lsc. The market
closed at 44Ac bid. Mess Pork-A fairly ac-
tive trade Was reported and prices ruled IT.
regular, within moderate range Opening
sales were made at 3 to 7l2c decline, but fair
buying tended to strengthen the market. and
prices rallied LIE TO l5c. Later prices set
lied back 7l2 to loo. Towards the close
prices rallied $ to 17l2c, and closed com
paratively steady. Lard-A fairly active bus
mess was reported. Early sales were made
at slight decline, but later prices improved
to 7l2c, ana closed steady at outside fig
ures. Short Rib Substituting was fair
Early prices rule about 2l2c lower. During
the latter part of the session prices advanced
D to 7I2c. and closed steady.
The leading futures ranged as follows: