St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-04
STIMULATED MARKET.
Brisk Trading in Wheat at
the Hour O? Scum ding
the Bell.
Cash No. 1 Northern in Good
Demand by Klillers at
Eighty-Nine.
Lively Demand on Wall Street
For Good Bonds and Act
i've Stocks.
rhe Close Fairly Active and
Strong at the Highest
Points.

CHICAGO, Jan. 3.-The wheat market open
ed at decline of 2S012c under the price it
was selling for as the market closed on Fri
day. The first trades in May were at 96lsc,
with q few trades al 96c about the same
inc. The cables were easier, the public dis
patch quoting I'D decline at Liverpool. The
Export clearances of wheat and -four from
10th coasts, according to Bradstreets' esti-
nate amounted last week TO 400, 600 bu
ess than on the week preceding. Cash, No.
! Northern in Minneapolis, which a day or
Wo ago was quoted as selling at 8Sc, was
bringing soc to-day, and in good demand by
millers at that price, according to dispatch
eceiYed by Logan & Co. A Baltimore
arm wired that they were receiving
coed prices for wheat by cable from
Europe. The New Years snow was reported
0 have covered the ground well where it had
been badly needed. and clear with season
able temperature was the general condition
of the weather in the winter wheat belt.
There was encouragement in the various
pieces Of news here enumerated for both OF
he contending parties and each of these as
simulated such of them as best suited their
digestion. Partridge tried to cover his shorts
on the opening slump, but he had too much
company to suit him and upon an advance to
9CSsc, which took place he made show of
selling again. Ream and Cudahy, who were
heavy sellers yesterday, also thought 1t pru-
dent TO take what profit was afforded by the
opening prices, and those whose present
Dolicy it is to buy on breaks also came
o the support Of the market The first half
hour was the weakest of the session. and
prices advanced until the call price had been
reached. AT the latter point there was con-
siderable selling, which held the advance in
heck for awhile around 97c and 97I4c, but
. ba b71ri cfin1n1ate6 bU tho rnnOrfpH
good demand for export at the seaboard.
The visible supply estimates ranged variously
rom 5000 o bu decrease to an increase of
about that quantity. California advices were
o the effect that dry weather was spelling
he prospects for the growing crop. Every
hing had bullish tone in the last half hour,
Inder which the entire decline OF yesterday
md this morning was handsomely recov-
ered, with the closing quotation for
Nav wheat at 977Bc and trading going on
briskly at csc before the echo of the closing
bell had ceased to sound in the hall. The
business in the corn pit was quiet and tame
during the first half hour Of the session and
fairly active in the latter half, after the
strong tone Of the market had given the
shorts bad turn. The opening price for
May was at a decline of Ac from its value at
he close Of Fridays session. Trading be-
tween SIC and 5.S8c was The feature OF the
irst hour with sale or two at 7Sc near
he start There was an advance to 53lSc,
u I6NSllOn W u -SoSi anu pulb1u tilS SuU up
% 53Ssc, which WAC the closing quotation.
rhe bulls had the best of the oats market.
iespite the fact that Hutchinson continued
SELL His output was much lighter,
however. Fowler, Horton Worthington and
he country were good buyers. The May
future started at447se, declined to 145sc ad-
,anced to 455sc, fell back to i5s8e, touched
he top price of the day at 453lc and closed
'Bc higher at 4558@45Sc. There was an eff
tort made to keen provisions from advancing,
cut the stocks of pork were not so heavy as
lad been looked for as hogs were reported in
4OOd demand at some advance. Cudahy
)uenly sold pork, but The crowd took his Of
rerings and advanced the price January
pork advanced from $1,000 at the opening to
$1,000 at the close; May from Sl1.O2I2 10
Sll.25, and lard, while advancing 712c to
!Uc Tor January, gained only 2l2@5c for
LAY. Ribs also showed January reducing
he difference between it and the later de-
livery, the former closing at So. 12I2 and the
after at $5.6212. against So, 0212 and So. 62I2
respectively yesterday.
The leading futures ranged as follows: