St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-25
NO ONE-MAN MARKET
Bulls and Bears in Wheat Al
ternately Take Their
Innings.
Trading in the Pit Brisk, Bor-
dering on the Exeit-
ing.
The Tone Of Wall Street Deal
ings Barely Steady, Though
Weak.
The Trading Mostly Of a
Purely Professional Char
actep.

CHICAGO, Jan. 24.-The grain markets were
weak during the first hour of the session to-
day, being dominated by the selling of Pard-
ridge in the wheat pit. Trading was in
active early. but was brisk and bordering
upon the exciting in the latter half OF the
session. The st. Louis contingent, which
embraces the Art club of that city and Kauf-
man the miller, made large profits on the re-
cent decline, are now apparently working the
bull side, and there is numerous body OF
strong bulls in New York, who have been
steadily fighting against the recent declining
tendency of prices. The business is out of
the rut for the present, and is no longer
a one-man market Wheat at the close
corresponding time yesterday. Corn gained
Csc, oats Ac, and even provisions picked up
and closed little over yesterdays closing
quotations. The frmness of the foreign
markets was the cause of Ac advance in the
opening over the previous days closing
prices of May wheat. The first general trad
ing was at 944c, butt soon advanced another
1A@$se. Partridge commenced selling at
94l2c Very soon the weight of his offerings
caused gradual sinking of the price. The
trading became light but the market evil
IDENTITY felt the weight of Pardridge's opera
tons, and the price for a moment touched
94c, the lowest for the day. BY II o'clock the
price had passed Csc, and in ten minutes
=
from the firmness of the English market
and the strong statistical position, was
in the main bearlsh. Bradstreet's opinion
that the crop OF 1890 was nearer 420, 600, 600 blu
than 40 900 900 bu was the principal outside
assistance which the short sellers received,
enabling them to depress the price in the
early part of the session. The buying orders
from st. Louis was big feature in the days
business. Kennett-Hopkins bought greedily
from y41S to % C, and were still steady buyers
when arOnn6 hOnSpS
with st. Louis connections were also heavy
buyers, S. Y. White q Co, W. q. Mccormick
& Co.. Logan & Co.. Baldwin-Farnum, Nc
Dougall, +. d. Brown, and the crowd started
with great unanimity to buy, and Partridge.
when the price got above Csc, withdrew.
The visible supply is expected to
show decrease for the week
of from 100000 bushels to 100000 bushels.
The price of May wheat finally advanced to
96l2c. The corn market was rather dull and
the fluctuations narrow until wheat began TO
show such phenomenal signs of strength,
when it also picked up and followed slowly,
and with somewhat shorter strides, the
course of the other cereals The May de-
livery opened at 51s4c and lowered for
time between 61s4@517sc. after dip near the
opening to 5lA6c. The subsequent trend of
the fluctuations was toward a higher level,
and an advance to 5212c ultimately took
place. The oats market was dull and quiet,
in the absence of any outside demand. The
trading was mostly in small lots. Hutchin-
son was the principal buyer, although he also
sold small quantity. The market received its
strength from wheat and corn. Only $4,000
hogs at the wards against 2S,000 expected,
and an active demand for the small receipts
was the tenor of the report from the stock
yards this morning. This gave firmer tone
to the opening transactions in provisions,
but it lost its early improvement in the first
fifteen minutes, but quickly recovered it
again and ruled steady. Pork for May deliv
cry closed with gain of sc. Lard made an
Improvement of 2l2c and ribs of Il2c.
The leading futures ranged as follows: