St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-06-13
GOOD DAY ON CHANGE
A Rally in the Morning Aids
in Braeing UP the
Trading.
Selling by Longs and Pur-
chases to Cover by the
Shorts.
Corn Was Active but Weak,
Likewise Oats and Pro-
visions.
In Wall Street Dizziness Con-
tinues--Dun's Weekly
Review.

CHICAGO, June 12.-The markets all looked
very easy and ripe for another big slump at
the opening this morning. Thereafter some
thing was added to the losses overnight, and
then there was change of feeling and
rally all along, the result being a reaction
which brought grains up to about the closing
prices of yesterday, and carried provisions
to material advance. There was a large
and excited trade in wheat though the latter
business became more quiet. There was not
much in the way of news, the fine weather
in this country and weak cables accounting
for the break in prices Considerable 'long"
wheat was sold, holders under the ex-
listing conditions having become tired
of holding. Lower prices were feared
by some of the traders, who ordered
their lots cleared out and some lots went
over on stop loss orders. The heavy bear
traders took advantage of the situation and
covered freely. At the same time it was
claimed that there was some investment buy
ing q the decline, and after the early break
the feeling was decidedly stronger and the
reaction set in New York advised that seven
boat loads had been taken for export. Henry
Clews wired about the same time that the
Paris market was advancing on bad weather
in France. This gave the market additional
strength, and shorts began to cover some to
secure profits on sales made some days ago,
and to stop losses on sales made
this morning. July opened at 95l8@
95Ssc, broke to Csc, rallied TO and hung
around in the neigh5orhood of 953sc,
rallied TO 957sc, broke to 9J3sc, rallied to
96lsc and closed at CSC. Corn was active, but
very weak, and at one time seemed on the
verge OF panic. Every one was eager to
sell, and seemingly regardless of price. Long
corn went over freely for both local and
country accounts, and short selling was
large. Fine weather indications of heavy
increase in rates, weak cables and weakness
in oats proved very demoraliZing. July
started at 5iAGL54s4c, broke almost immedi-
ately to 53S4c. rallied to STAG. dropped to
535Sc, recovered to 545sc. fuctuated narrowly
for time, and then on reports of active
inquiry at New York and in sympathy with
the stronger tone in wheat rallied
sharply to 5512c. and closed 1sc lower. Oats
were about the weakest thing on the list
The trade seemed completely demoralized,
and July was disposed of around the open
ing at anywhere from 3SsBc TO 40l2c. After
the opening furry the market grew quiet
and steady around 4014@40ssc. until the
bulge in corn and wheat, when an advance
to 4lc took place. Provisions proved very
weak, pork taking the lead in the downward
movement There were no new developments
Of bearish news, but the weakness in the
other speculative pits was sufficient Fluctu-
atoms were governed largely by those iD
corn. September pork opened at 5000, sold
off TO S9.97l2 then, with minor fluctuations,
rallied to S10.3Gl2 and closed at that making
gain over yesterdays close of zoe. Lard
gained sc and ribs 15c.
The leading futures Hanged as follows: