St. Paul daily globe., 1891-04-29
GOT QUICK ACTION.
Constant See-Sawing OF the
Wheat Market Makes 1t
Lively.
The Days Trading Leaves
Prices One and a Quarter
Lower.
Weakness of the Past Few
Days in Corn Is Con-
tinued.
The Stock Market Displayed
a Marked Decrease in
Activity.

CHICAGO, April 2S.-Choppiness was the
distinguishing feature of the wheat market
to-day. Traders got quick action on their
deals, as the market was constantly see-saw-
ing up and down. Weakness predominated,
and during most of the session an unsettled,
heavy feeling prevailed, but the closing was
stronger and quite firm at a loss for the day
of 1Ac. There were occasional temporary
spurts of firmness, hut the various rallies met
with free selling. which carried prices to the
lowest point of the day. Fine weather, lower
cables all around ana general selling pres
sure was too much for the bull element
There was some outside realizing,
including some foreign selling, but
the heaviest offerings were cred
tied to some of the large
floor traders, some of whom have not been
identified much with the wheat markets of
late: The tactics pursued by these traders
evidently is TO put out large lines, break the
market and buy on the decline, and again
put out fresh lines on the rallies occasioned
by their covering and other buying. July
opened at Sl.06l2@107 and sold off without a
reaction to S1.0as4. Ream, Bloom, Cudahy
and other bears then began to buy and they
put the price up to Sl.06A. Their sales
through brokers subsequently broke it to
Sl:O5. Again they turned buyers. At about
this time it WAS reported OH the board that
the French duty on wheat had been re-
moved and that 12S,010 bushels had been en-
gagged at New York for export. The purchases
just referred to, along with purchases by
Coster Martina New York concern-lifted
July to Sl.O6. Al that figure the offerings be-
came very heavy again ana July dropped to
Sl.05 again from this point it rallied to 81 0534
out broke to Sl.05 on the official closing ca
bles from London, Paris and Berlin. London
was l1209d lower per quarter, and Berlin
was 1l2 marks lower; Paris was 20 centimes
and 90c Off on -four and 70 centimes and soc off
on wheat. On this break, as before all the
big bears were buying, and this carried the
price up to Sl.0t@I0t1a at the close. The
weakness OF the past few days in corn was
continued. Prospects of larger receipts and
the superb weather conditions appeared
to be taking the courage out OF the
bulls and free realizing was general. OF
ferings large, the sentiment early being such
as to induce both long and short selling. In
fact the market was in the hands of it's
enemies and the pit was excited as evidenced
by range of PA to Sc during the day. A raid
was made early which broke values to an
extremely low point. Then Leopold Bloom.
Ream and Cudahy, together with the old
time bull crowd, began TO cover short corn.
The July future. which started out at 63c,
and which broke to elise, was brought back
to 62S4c. Oats were nervous and fiighty. but
fluctuations were confined to range of 134c,
closing above medium figures. Provisions
were quite dull. Most of the trading was the
changing of May contracts 10 the more de-
ferred months July pork started at S13. ole
sold to s13.10 off to Sl2.95 and up to Sl297I2
a $500.
The leading futures ranged as follows.