St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-03-15
OPERATORS ARE NERVOUS.
The Wheat Market Is Sensitive and
Yields Readily to ANY In
fiuence.
A Firm Opening and a Gain Of a
Quarter Over Thurs
day.
Financial Operations Of the Money
Kings-The General Quo
tati0ns.

CHICAGO, March 1.-THE wheat mar
ket was unsettled and fairly active all
day, with an unusual amount Of ups
and downs within half-cent range.
The market opened on bulge. All
the dispatches claimed that the Illinois
agricultural bureau had decided that
wheat was quite seriously damaged by
the late hard freeze. On this the price
of May started &c higher at 1880, or
only &c under the call price on the curb
last night. There was further bulge
at 79s4@797sc and reaction to 791ac.
Then second bulge to 81 and second
drop to 793sc. After holding around 79c
for an hour there was third Jump to
792lc and third decline to 7936c.
On the fourth bulge the price
went to 1890, then off to 1871. and
at 1 O'Clock was at the opening price,
1899. Hutchinson, the weather and the
experts were the big three in the mar
ket. Mr.. Hutchinson sold every time
the market touched 1890, the "call"
price. All day long trade had in mind
his tactics of yesterday, when he called
all his calls and set the trade scramo-
ling for wheat. No one could depend
on natural conditions when he controls
the market. Partridge was not in the
market. Mccormick bought heavily
and early. it was thought for st. Louis
shorts. Three sellers during the day
were Parker, Poole and Booth. New
York dispatches confirmed % boat loads
taken for export yesterday. An author
ity there telegraphed that 700 bu Of
wheat. including $4,000 bu of No. 2
grade, will move out from that port in
the next ten days. There was apurchase
of 10000 bu cash wheat from scattered
houses here to-day at nc UNDERWAY price.
The export clearanceS included 5000 bu
wheat and $1,000 bbls of -four from New
York, and $4,000 bbls of flour from Bal
timore. Wheat and corn for the three
ports aggregated about 224, 900 blu. The
close was g 014c over the opening fig
ure. and 3s@5Sc higher than yesterdays
close. Receipts, Sc cars wheat. 401 cars
corn and 1874 cars oats. Shipments, 49,
200 bu wheat, $50, 299 blu corn and $780,
$50 bu oats. Corn was not very active
and the market was very narrow, the
entire fluctuations of the session being
only &c. It got little strength from
the firmnesS in wheat and provisions,
but was not lifted out of the rut in
which it has rested for several days.
The news was not important, and
the market was practically featured ess.
Wright IL Haughry, Armour & Co. and
Harvey sold moderate amount, while
Rosenbaum and Ryan bought to
moderate extent. Oats were dull and
steady. Provisions were active and eX-
cited, and though pork was the leader,
all product sold higher. Light receipts
of hogs and higher prices furnished
good reasons for strength. But the
nervousness of the shorts and heavy
covering ny them led to the sharp ad-
| vance. There is a growing fear Of
manipulation, and there was an unus-
ually sharp competition among buyers.
May pork sold from $l0.55 to S10.57, off
to $1,000, but again advanced. Lard
was also very strong, and May sold at
| Sc 15(06 20, while ribs for May delivery
sold up to s5.15. The Anglo company
was a heavy buyer of lard, and Ryan
also bought heavily of both lard and
pork. Raymond sold ribs freely.
! The leading futures ranged as follows: