St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-10
JACK FROST'S INFLUENCE.
II Is Felt Among Operators in Wheat,
Who Are Now Somewhat
Alarmed.
Prices Go Skyward and Closed Firm
and Two Points Higher
Yesterday.
Financial Operations Of the Money
Kings---Ths General Quo
tati0ns.

CHICAGO, Aug. 9.-Jack Frost in the
Northwest and j. r. Dodge at Washing
ton between them kept wheat speculat-
orS in ferment. To-day the market
was very irregular and feverish, ending
finally in victory for the bulls amount
ing to sc per bushel in the Septem-
Der delivery and &c in the December.
Corn was likewise bullish, and gained
11lc in the September delivery and the
same in May. The wheat market at the
opening was easy for monochrome
brief mOment-during which there were
sellers of September at $500, which
showed just Il slight tinge more bear
ish feeling than prevailed at the close
of the previous days session. Instantly
all were buyers at the price named, with
none for sale. Up and up, &c at a
time, bids followed in rapid succession
until 954c was paid, and trading, which
for a minute or so at the
beginning was not particularly
active. became quite lively. Business
quoted down after the first fifteen
minutes. inside of which time the
changes here recorded took place. The
at st. Vincent, i'll the far northwest.
had gotten down during Friday night to
SO, and at Bismarck to AZ. This raised
visions of frost damage on top OF what
the heat had already done to the spring
wheat, and although this point was
known when at the opening all were
sellers OF September wheat at $3.50, 1t
was later asserted to have been the
cause uf rapid squirt to 97ac, which
took place when the session was about
one hour old. The export clearances
from the three principal Atlantic ports
were liberal, amounting to 1858 pkgs OF
four, and 1851 bu of wheat, in addi-
to1 to which 10000 bu Of wheat were
cleared yesterday from New Orleans
for Rouen, France. The receipts here
amounted to 1856 cars, and the
quality inspected out of store to
1850 bu. There were reports of some
export business passing New York, six
and half loads being taken up to
O'Clock. The Indications given by the
weeks receipts and shipments are for
decrease in the visible supply this
week. The receipts at Minneapolis
were reported at IS cars, % cars being
the shipments thence. All of the fore
going items favored holders and caused
the bears who were short the very great
uneasiness which had Its expression in
the advance which has already been re-
ferred to. The extremity of the bulge,
was marked by CSC being paid for Sep
TENDER, and s1.02 for December. the
bidding for the latter being particularly
spirited. The frost scare, which arose
from the near approach of last nights
temperature to the congealing point,
was the most sensational bull card of
the day, and as it was entirely antlci-
patory, no frost having yet occurred
to do any damage to wheat. it
began to lose the effect after it had held
the market up in its icy embrace for an
hour or more. The price gradually
eased off in the last hour, Septem-
Der declining to $685., and De-
cember to s1.O04, with the closing
prices 965s cents for September.
Sl.OOs5 for December. and S1.041a for
May. The market for wheat on the
curb was quiet at about 965l cents for
september. Iuo GraueTS Ill privileges
were giving Mr.. Dodge a six-cent spread
to swing himself in; calls at 2:30 were
$l.O01s. and puts 941s cents on Septem-
Der for Monday. The corn market was
also active and higher. The drouth still
held sway in the corn country, and this,
with the firmness in wheat, scared the
timid shorts. The market advanced to
5O1s cents for September, and closed
firm at 1917 cents. HUTCHINSON, who
has the September and May options
pretty we'll under his thumb, was the
potent factor in the oats market. He
was heavy buyer of both futures, and
although the market experienced a
number of ups and downs, it closed firm
at an advance of g of cent. Provisions
were not active. but averaged steady to-
firm. Prices of product closed with a
gain in the principal speculative artic-
les.
raa leading futures ranged as follows: