St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-15
WHEAT HOLDS STEADY
The Tussle on Change Purely
Local in it's Character
iSticS.
The Amber Cereal Sells Off
and On, But at Last
Closes Firm.
But Little Change in Price Of
Stocks From Last Quo
tatiOnS.
Good Buying All Along the
Line and Opening Loses
Recovered.

CHICAGO, Dec. 12--There was considerable
strength in wheat during the greater part OF
the session, but it eased off considerably and
closed with gain of only 1sc on Friday
closing price. The tusse was local in char
acter, with The crowd failing onto the ac-
tons of one or two heavy operators. Par
bridge was known 10 be short heavily, and
was expected TO cover his line. but so far as
could be observed, he only acted in that di-
rection very moderately on the soft spots
which occurred near the opening and again
towards the close. Blooms line is now
added to Pardridge's on the short side
and therefore the market is get
ting into good shape for an
active speculative business. The demand for
cash wheat continues excellent; sales OF No.
3 red winter were effected here to millers to-
day at 95c f. o. b., which is &c over the high
est price reached by the December delivery
and No. spring in store 10 the extent Of
10000 bu sold at 951ec. New York reported
bids of 81 for No. Milwaukee spring re-
fused there to-day. The cablegrams from
abroad were favorable to the bull interest;
that fact and general feeling that the late
financial scare might henceforth dwell upo
the memory like the recollection OF bad
dream, but was no longer a factor to
be considered as a bar to an advance
in wheat. maintained prices at the opening
at the level of the previous day S closing quo
tations. After business had been fairly
started there were the usual amount of real
izing sales by those spectators who. seeing
nothing at the moment to stimulate further
buying, concluded that the market must
many firm believers i'll ultimately higher
prices who acted in the manner described,
but these became repcntant re purchasers
when the news which afterward came to
mr. FIN Ia m rf nj n no
ture as To cast roseate glow over the entire
commercial horizon, Arthur Orr sold out his
long wheat, William Dunn was also a seller.
Nj. Z, Mitchell was another OF those who sold
long wheat expecting to buy it back cheaper,
and Leopold Bloom, who nipped a good
round sum out of the market at the price he
realized for his long wheat yesterday, was
tempting fortune on the short side to-day.
He was an ostentatious offerer of wheat In
100, 900 blu blocks on the first bulge in prices.
The parties named here as having been sell
ers early in the session. with the exception of
Bloom, quickly reinstated their long wheat
the shorts to come III. Partridge was buying
and selling through different sets Of
brokers, and whether he did most on the buy
ing or selling side it was difficult to deter
mine. From Sl.0o5s for May when trading
commenced, prices slid off slowly to 81 .U0sS
with perhaps n sale or two at 81 .O0A@1. 0CsS.
During the time when this decline was in
progress the failure of a London stock
broker was announced. He was said to have
been heavy dealer IN American railway Sc
curitles, and this piece of news resuscitated
for a few minutes among the bears the old
talk of trouble among the millionaireS with
hades in the dim vista of their imaginatlons
and a smell of birthstone in the at
mospheTe. Ali this was dissipated u
little later however, by cable advices of the
shipment of So, 500. 900 in gold to this coun-
try, and very favorable bank statement
from New York May wheat advanced un-
POnSinnrO nnnnCifinT1
ers until it fLally sold at S1.0lssdDl .011a
This showed clean profit of 1c in purchases
made at the close yesterday, and was also
the POINT at which selling against calls
the classes alluded to caused decline to
Sl.00SS@l .0Ola before sufficient buying
again came to the markets support. There
was rally to Sl.OOa4 ana the close was
Ter to begin with and weak in
the end, closing at decline of Sac since Fri
day. There was little more confidence
shown by sellers, and much of that business
corn opened at 537SG154c, and then gradu-
ally weakened to 53SS@l53l2c. There was a
slight recovery later, in sympathy with
wheat, but ii was at its lowest point near the
close, selling at 534c. and closing at that
price bid. Oats were traded in fairly, and a
weak and unsettled feeling existed and prices
ranged lower, due to the depression i'll
corn. Opening sales were at 1s0Ac
0ecllne ana receded Ac, rallled TO opening
figures, declined l2c. and closed quiet at
about inside figures, Mess Pork-A dull
feeling prevailed during the greater portion
of the session. Prices declined 22la@25c,
and the market closed easy at about inside
figures. Lard = Only q moderate business
was transacted. Early sales were made at
about yesterdays closing figures but during
the latter part of the session the feeling was
easier and prices receded 5@7L2c. Short
Ribs Substituting was fairly active. Prices
lower market
easy at the reduction.
The leading futures ranged as follows: