St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-18
WHEAT IS STRONGER.
Fears Of a Financial Panic
Dispelled and Values
Pushed UP.
May Wheat Is Fast Assuming
the Lead in Specula-
tive Dealings.
Corn Advances a Point Under
Corn Advances a Point Under
Heavy Trading, Oats
Closing Strong.
Trading in Hog Products Mod
crate, With Only Slight
Changes in Prices.

CHICAGO, Nov. 27.-Thc reassurances Of
bankers and other well-informed financial
authorities regarding the efficiency OF the
measures adopted III London for the protec-
ton of Barring Brothers eliminated from the
grain business here the apprehension of
further immediate trouble of serious nat
IRE, consequently dispelling the fear OF a
general financial panic, which was SO power
full factor in Saturdays operations. May
wheat is fast assuming the lead in the specu-
lative dealings. and il began with sellers at
Sl.oUl2, but not much business was done
until it had been offered down to 81. 1t
touched 99s4c, and reacted to $l.O0la, and
during the next hour fluctuated between
Sl.004@l l. O0i2; toward the end of that time
the announcement was made of some fail
ures among the Wall street stock houses, and
n drop 10 iac took place.. December
wheat started with sellers at 9314c, and
some few trades at that price, but
business did not become general until
it was offered at 93c. 1t quickly dropped to
9-iac, reacted To $3.50 and after period of
lnacuOn. during which the price held close
around 93c, there was sudden descent TO
3.lsc from the cause already alluded to. AT
ll:l6 o'clock q quick advance to 9Ilic for
December, and 81 .00l2 for May, was record
ed. After the fluctuations recorded above
THE changes were principally in the way of
still further improvement and were sudden
in their action. May wheat sold up to
81 o1is off 10 $l.OUi2 and back again 10
81 a. and December OscilIated between
93Ac and 9I4c at the same time. There
was one small failure announced, but it bad
no effect upon the market The visible sup
ply statement was one OF the nfluences tend
ing to the firmness reported during the latter
part of the session. The general impression
was that il would show an increase of about
100000 bushels, and. upon Its publication
1t was found 10 amount 10 the mod
crate increase of 49S, 1l3 bushels
There were not many dull spots in
tO-days business and trading was particu-
larly active, but without more than its nor
NAL amount of excitement toward the end.
The price of corn at the opening of business
was III the neighborhood OF saturdays clos
ing quotations, May being wanted at 5l7sc,
with some selling at that; but the demand
proved to be much in excess of the supply at
any such figures and there was quick ad-
vance to o2l4c. 1t was not until the wheat
market had overcome its opening teverish-
ness that those buyers of corn who think it
cheap plucked up resolution enough 10 pay
more than the last-named price, and about
the same time the shorts became active COM
petltors for the offerings. The price under
this stimulation advanced to 53lsc for May
and held between that point and 5234c 10 the
close. Oats were fairly active, but stronger,
and prices closed at Ss@Iac advance over
Saturdays. Mess Pork-Trading was moder-
ate. Opening sales were made at Saturdays
closing figures, and q reduction of sc was
submitted 10. Later prices rallied 10@ 2t2c,
but settled back again 507l2c. Toward the
close the market again rallied and closed
steady at medium figures. Lard-A compar-
atively light trade was reported, and the
change in prices was slight. Short Rib Sides
"A moderate business was transacted; fiuc-
tuations in prices were frequent within mar
row range, showing little change from those
current OIL Saturday.
The leading futures ranged as follows: