St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-19
MAY WHEAT A DOL LAR
Narrow Market on Chicago
Change, With Rapid
Fluctuations.
Flying Reports Of Damage to
Winter Wheat From Dry
Weather.
Narrow Wall Street Market,
But Withal Firm to
IS Strong.
Light Purchases Cause an Ad-
vance, Which Shows
- Firmness.

CHICAGO, Dec. 1S.-The price OF May wheat
in the first bunch of transactions was at
from 81 .OOls to S.. 004, but the opinion of the
majority regarding the public Importance of
Kean d Co. was soon manifested in an adj
vance to 81 .oJ34, between which figures and
Sl.OOl2 the trading of the next twenty min
utes took place. By 10 o'clock fresh ground
had been broken and 81 OILS was paid for
few lots, with heavy trading at SI.O1. The
news which came to hand was mixed in
character and was capable Of supplying
ammunition to each of the contending parties
with the preponderance, however, in favor
CT the bulls That which appeared to strike
the spectators most forcibly was the liberal
clearances or wheat and the heavy clearances
of flour from the port of New York
Reports of damage to winter wheat from DIR
weather and Hessian fly were likewise so
numerous and from so wide an area as to
create feeling of uneasiness among the
shorts. The reports came principally from
Kansas City ana st. Louis. The Bank of
England rate was not advanced, Us the bears
had hoped and the bulls had feared, and
While failures continued to be reported and
urged by some parties as sufficient reason for
lower prices, the general sentiment of the
traders appeared to crave a rest from such
thrashing and rethrashing of the dust of de-
composing commercial and banking firms.
When the price ADVANCED to SI.O11s the
selling against calls became too heavy for
the amount OF buying orders then forth.
coming, and 1t was subsequent to the time
OF the advance that the failure racket was
worked for much more than there was in it
by the bear party Partridge was heavy
seller through brokers. Leopold Bloom was
a seller also on the advance, and the buying
side was supported by Kline, Mitchell, s. v
White, Kenneth Hopkins and Logan, and
I'm no nsci0 S<,l,r
The price from 81. OILS worked off to 81 .O0a4,
recovered to Sl.01. declined once more
touching on this stretch 1.O0Ss From the
latter point there was another reaction in an
upward direction to 81 ,00s4, after which the
tendency was mainly downward, and 997sc
was the ruling price fifteen minutes from
the close. There was sufficient covering of
shorts at the low point to insure reaction
OF Ac and the last quotation was 997Sc@SI.
Ine corn market was nervous and unsettled
at the opening and there was a good attend
ance in the trading pit. 1t was Il consider
able time before the crowd began to realize
mat there was to be no contest to-day be-
tween the heavyweights in the deal. and as
the opinion of the majority of the local
traders favors lower prices on the basis of
supply and demand, they became sellers as
soon as the fear of manipulation was lifted
from their minds. The opening price was at
fractional decline from the closing figures
of the previous day. During the first forty
minutes the tendency was upward and the
price advanced to 545s054a4c, during the
time wheat was showing its strongest
phase. There was lie decline in the course
OF the subsequent trading, and prices
were at about the lowest point of the day as
the session came to close. The last price
named In the pit was 53s4c. December corn,
which started such a commotion yesterday,
was not mentioned more than once or twice
in the course of the day, and only one trade
at 52l2c was recorded. The Partridge sell
ing was continued through several brokers'
Oats closed lac lower than on the previous
Gay. There was a fair trade for short time
after the opening, when the price was ad-
vaneed from 45SSc to 451a00439sc. Then
followed decline to 451sc. the market be-
ing rather tame for the balance of the ses-
sion, There was a general decline in
All the speculative articles of provis-
IONS and from q decline of moderate
proportions at the opening the difference to
the disadvantage of to-day's prices gradually
wdened from those of the preceding after
noon. The packers. with the exception, per-
haps, of the Anglo American Packing COM
pany, were free sellers. The brokers of Ar
mour. Allerton and Swift were disposing lib
orally of product for future delivery. Rosen-
baum was free seller of pork, which was
supposed TO be for the account of Hutchin-
son. Carrying charges widened on all arti-
cles, pork. from January TO May, being quot
ed at one time at spread of S1.O5. Bloom
sold about 8. QUO tics OF lard, and Il. NJ. Bax-
ter was free seller of ribs and pork. Shorts
were the only buyers in sight.
The leading futures ranged as follows: