St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-02
BEARS THESTRONCER,
The Tug-of-War Stoutly Con-
tested and Victory With
Bpuin.
The Strength OF the Foreign
Markets Continues I'm
abated.
The Decline Is Gradual and
Very Holly Contested
Throughout.
Gears Seem to Have the Upper
Hand in the Wall Street
Deals.

CHICAGO, April 1.-The bulls in wheat had
two strong opposing influences TO contend
against at the opening. The quantity Of
wheat on ocean passage was $4,000 bushels
more than at the corresponding time a week
ago, and the weather here was seasonabe
and dry. On the other hand the strength
OF the foreign markets. as described in the
early dispatches, continued undated; the
stocks Of wheat at Liverpool were about
100000 bushels less than on March l. and the
local receipts amounted to only sixteen car
loads. The tug of war was stouIly contested
with the victory leaning alternately to one
and then to the other side IN a very indeter-
inmate manner for about fifteen minutes,
but the heavy men were on the bear side SO
very soon superior weight began to tell The
starting price for May was S1047S; some
sales were made Immediately thereafter at
SlO4s4, and a reaction TO S1.05 took place be-
fore the price commenced to yield The de-
cline was very gradual and holly contested
until sellers became numerous at S1045s,
from which latter point to .O3s4 the down
ward pace was considerably accelerated.
The fine prospect for the next crop was the
most powerful argument Of the bears, and the
country adviccs all upheld that view of the
outlook. Corn and provisions were weak
and helped to unnerVe the holders of wheat
Many of the big bull lines had been real
lied upon yesterday. The tone of the
closing cables being very strong and
considerable cash business having been
worked, many of the early short sellers be-,
came buyers, and very MANY of the bulls
were again encouraged TO replace their hold
lngs, but the bear pressure in the end was
too severe, and, after a recovery of MAY
wheat TO Sl.04s4. it declined again to Sl04,
and was selling at Sl.04l4 as the session came
TO close. The corn deal was lacking i'll
interest, and was allowed to DRIFT in the di-
rection of the preponderance of outside or
derS. \ reduction of the visible supply last
week. amounting TO 1850 bushels, was re-
ported by Bradstreet's, and caused tenn
porary buying movement among the local
shorts. The opening price was about
4c under yesterdays closing prices.
After hanging around for brief time
at 6Is4c for May it gradually sold down to
6Ilsc. recovered to 61s4c and closed at G15sc.
or ssc lower than yesterday. There was a
falr trade i'll oats early, but not much doing
during the latter part of the session. Shorts
were the principal buyers, while Fowler sold
small line of May. There was an immedi-
ate decline of 7l2Gl0c in the price of May
po:k when the market opened. and il made a
further break of 11i?c, but in the end recoV-
cred the entire loss, and closed unchanged
from the previous days final quotations.
Lard and ribs acted in unison with pork but
the fluctuations III lard were less violent
and the feeling considerably less tearish
than i'll ribs and pork The price of hogs
was reported lower, but the receipts were
under yesterdays estimates.
The leading futures range as follows: