St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-10
BULLS take CHARGE,
All the Lines Of Grain and
Produce Close Several
Points Higher.
The Bull Crowd in the Pit
Most Agreeably Sur
prised.
On Wall Street Bears Turn
Bulls With Satisfactory
Results.
The Market Shows a Good
Deal Of Reliable
Strength.

CHICAGO, Dec Zine early 1eelng In all
the speculative markets was favorable to
higher prices. and with no serious disturb
ance in financial circles there was marked
improvement III everything toward the close
About the middle of the session the crowd
appeared to doubt, after its recent expert
ence. whether bull stock market lasting
through an entire session was q possibility,
but later, when such a change in the recent
tactics of Wall street appeared highly prob
able. they concluded that it was no time to
stand short of wheat corn, oats or provis-
ions, and the closing prices of each of these
| illustrate that conclusion. Wheat closed l Ac
higher; corn. s4c; oats, ssDlsc; pork.
25c, and lard and ribs, 7l2G1luc higher
than at the corresponding time yesterday,
The opening price of May wheat was
very clear indication of what constituted the
present paramount governing influence in
the minds of the local spectators. Stocks
in New York opened with boom, and it
completely drowned the talk about the in
crease of ,4OS, 600 bushels in the quantity
atloat for Europe as cabled by BeerbOhm.
An easier market and decline of led at Liv-
erpool were likewise effaced from the recol-
lection of the traders as they met for the
opening tussle, and began by bidding CSC
for May wheat. or SEC over the price it sold at
on Monday afternoon. There were sales
at 917Sc, and before long at 9S1sc, and again
as low as 8 Csc, although it barely touched
the latter price. During the first half hour the
fluctuations were confined to above narrow
limits, but at the expiration of that time it
began to climb. and in the course OF ten min
utes 1t had mounted to 9S&c. There was
plenty of wheat for sale on the advance and
1t was back 10 g2c in II few minutes. From
the time referred until IL o'clock trading was
light ana moved in easy swells from 90 and
9SI2c, touching both extremes several times.
There were plenty of rumors set aflOat dur
ing the time covered bv the foregoing re-
marks, but very little in the way of subStan-
tial facts having any bearing upon the wheat
situation, The rather sensational bulge in
the New York Stock market began to
fiatten down to more modest advance
over the previous days's prices, and
there eva, was a., repetition, though on
falsehoods which came from New York yes
terday about impending failures there. 1t
was reported that gold to the amount of
about S2.7n0. 90 had been ordered to De
shipped from London to New York, but as
an offset to that piece OF news it was said
that about $1,000 600 was to be drawn from
the same source for France, and it was feared
that as consequence of the withdrawal of
so much of the precious metal the Bank of
England would be likely to again advance
It's rate of discount. The local receipts were
lS1 cars against estimates made yesterday of
l67 cars. Minneapolis and Duluth receipts
aggregated $50 cars, which is about 100
cars more than for the corresponding day
of last year. Out of the mysterious rumors
OF the private wires having their east
ern terminus in Wall street came one
substantial fact in the course of the day. An
old and respectable stock brokerage firm
failed and on that account the bears de-
pressed wheat to 97a4c. little later. how
ever the spectators commenced TO minimize
the significance of this failure. calling it a
case of dry rot and about the same time
the stock market commenced to recover its
early buoyancy. The country receipts in the
In Ef ryxapnr tod l,cx- =
per cent since week ago and Bradstreet's
statement of the stocks east of the Rockies is
not expected to show an increase for last
week of over 400 bu, Partridge was known
urday which he had not previously
sold ana the crowd under the i'm
preston that he could be easily forced out
OF Ifor him} such an unnatural position
had been inclined to.help him to feel uncom,
Portable. He stuck TO his wheat however,
and bought more. and the uneasy feeling
shifted to the other shoulders. Hutchinson
was also good buyer, and the Northwest,
which sold at the start, and the New York
private wire houses, which also SOLD earlier
in the day also had fewer tales of disaster
TO circulate. being kept too busy buying in
their short wheat The trading price of May
wheat at the close was $3.50, and December
was quoted nominally. worth sac less. The
corn market was strong on the small re-
celpts and the small stocks. Mr.. Hutchin-
son was also a good friend to the art
icle, and held it up when it ap-
peared weary once or twice dur
ing the course of the session. The
starting price for May was 5412c, with few
sales at .j4ssc. compared with 54Isc ut the
close of The market yesterday. The amount
OF contract corn in store here is now down to
136, $50 bu, and to-day receipts were only
PAP cars, whereas 300 had been estimated
yesterday. Out of todayas inspection only
81 cars of No. were found. There was an
increase of 34i 900 Du in the quantity off,
coast for Europe, but export business does
not at present.occur as factor of much in
fiuence: The statement was made in the pit
that close stocktaking of all the old corn in
the country had been made. and only 25,-
0O0,OO0 bu could be found, but on
inqulring how such an estimate reached
here, and where it came from, no
one could be found to father it.
The opening price was as lowias it sold during
the day. There was an advance TO 55c and
after huctuating between that and 545sc,
the closing figures were near the best of the
day, the latest being 547sc bid. Oats were
firmer and higher. but with moderate vol
ume OF trading. The strength was due largely
to the advance IN wheat and corn, also to
higher prices IN New York; good buying by
a large trader here and moderate offerings.
Prices opened higher, and advanced Ac, and
closed steady at Ssc higher than yesterday
PorkIQmte good demand prevailed cary
IN the day, and the market was
stronger. Opening prices were about
15c higher and Il further advance of I5@
1Il2c was gained. Later prices gradually de-
cl1ned l2l20l5c, but near the close rallied
Il2@1Oc and ruled steady Lard-Rather a
good trade was reported and the feeling was
somewhat unsettled, though prices ruled
higher. Opening sales were made at 215@3c
advance, and a further advance of 2I2@oc
followed. Later the market ruled easier and
prices settled back again 2l2@5e but rallied
50Il2c and closed steady. Short Ribs
Trading was moderately active and the feel
ing was steadier. Earlier prices ruled 5@
7l2c higher. Later prices recede d, then be
came stronger and the decline was fully re-
pnVpred -