St. Paul daily globe., 1890-12-13
WHEAT HAS FRIENOS
And Accordingly Comes Out
on Top Of an Active
Market
Chicago Bulls Join Forces for
Another Aggressive Cam
paign.
London Shorts Buy Literally
on the Wall Street Mar
ket.
Financial Situation as Quoted
Undoubtedly Much Eas-
ier.

OhlCAGOt DCC. lS.-N lltdJ WIS It'll
and closed at an advance of lc since the
corresponding time yesterday. There
were strong Indications that the bulls
had joined forces for another aggressive
campaign, and the news favored them,
the strongest feature being the good de-
mand for cash property. In the sample
market here good No. red winter
wheat sold to millers at 14c per bu
over The price December was quoted at
the same moment. The May delivery
opened at 999s4@995sc, compared with
9915c as the market closed yesterday.
At this price there was heavy realizing
by many of the longs, Leopold Bloom
among the rest selling out about
100000 bu, which he had been nursing
for nearly week. The price de-
ciined on so much selling, although
at the same time the market appeared
well supplied with buying orders. The
latter class of trade proved the most
persistent, and after the difference be-
tween yesterdays closing price and the
opening figure of the morning had been
brIdged by the decline. the selling
orders dried up and left the buyers mas
ters of the situation. The prices near
the opening had reached 81, at which
there were a few sales before the reac-
ton already referred to took place, and
tew minutes there was long period of
dullness, during which there was
SCARCELY any change in the price. The
failure of a film dealing in build
ing materials at New York was
nSed as one of the arguments in
dlSparagement of the early advance,
and had some effect with that class
of spectators who took upon signs of
prosperity as merely the forerunners of
disaster and hail calamity as III the nat
ural order of things commercial. There
was nothing, however. in continuation
of the first sinister event referred to,
but on the contrary the further advices
from New York were generally con-
tirmatory of the progressive GONZALES
cence of financial affairs. The local re-
celptS amounted to 1O2 cars, compared
with lis on the corresponding day of
1889. The quantity Inspected out of
store was 7,540 bushels. The reported
heavy falling off in farmers deliveries
iii the Northwest has not so far been
proportionately reflected at the two
points from which daily report is
forwarded. st. Louis advised a sale
OF $4,000 bushels of cash wheat
made there to-day at 415c under May.
Milwaukee statisticianS, who are usually
close to the result in their estimates,
would show considerable decrease this
week. Minneapolis stocks are estimated
to show an increase of 10000 bu. and
those of Duluth to amount to 500.O00 bu
more than at the last stock taking.
Heavy sales of -four were reported as
having been made at Minneapolis to-
day, AMONG others one of 100, 600 Dbls to
go 10 Cleveland. The export clearances
from the three principal Atlantic sea-
ports were II, 1872 packages of flour and
126.5l3 bu of wheat. Partridge was a
buyer of short wheat, and it was stated
that Kaufman, of st. Louis, also saw good
reason to come off the shore of the mar
ket, good deal of the wheat
bought by S. V. White and other con-
mission houses being credited to the st.
Louis SpeculatOr referred to. After the
hour Of dullneSS referred to above, a
lively trade succeeded. and besides good
buying for long account. the shorts re-
fused to be outdone in desire to have
some of the offerings. Under such cir
culnStanceS the advance was rapid uutil
the price was once more 81 per bu, and
more gradual, but with only Slight re-
actions, while it made further gain OF
re. Trading was brisk, and the holi-
days seemed considerable farther off in
the latter part OF the session than dur
ing the first two hours. There were
enough realizing sales in the last half
hour to cause reaction of
s1.OO5s to s1.Oo1z, and the closing
price for May was S1.OO1S0LOJ5S.
The corn market opened steady at
about the same price as it closed yester-
day. The strongest point of the day
was at the start. 1t became heavy un-
der free supplies from local shorts,
Pardridge being the heaviest and indi-
vidnal seller. The price declined from
SAGE at the beginning to 5354c. with
recovery TO 547sc, the closing price be-
ing 54c, or decline Of sc since yester-
day. The line at the close was Steady.
Oats were again quiet. The May deal
was the only future traded in. 1t
opened at 452sc, or just where it left off
yesterday, and advanced to 46c. selling
off to 45]sc. recovering to 453Ic, and
closing 1s(@14c lower at 55s@455lc. Pork
Only fair trade reported, and prices
ruled somewhat Irregular, within
moderate range. Opening sales were
made at 21795c advance, but rather
free offerings caused weaker feeling
and prices reached 1215@l5c. Later,
little more steadiness prevailed and
prices rallied 50715c, the market clos
ing comparatively steady. Lard was
only moderately active. Opening sales
were made at Thursdays prices, but a
slight increase in the offerings caused
weaker feeling, and prices receded
again. Toward the close prices rallied
211sc and closed steady. Short Bib Sides
Trading was moderately active. Early
in the day prices ruled 2115@5c higher,
later weak feeling developed. prices
receding 59715c.
The leading futures ranged as follows:
Open high Low Clos