St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-07-23
BOOM and ADVANCE.
An Upward Spirit Again the
Feature in the Chicago
Wheat Pit.
Nearly All Early News Was of
a Decidedly Bullish
Character.
Corn, Oats and Provisions
Strong in Sympathy With
Wheat.
The Tendency Was Upward
The Tendency Was Upward
in the Little Trading on
Wall Street.

CHICAGO, July 22-There was another boom
in wheat to-day, and another advance in
prices was scored The early news was near
Iy all of bullish character. A foreign crop
authority gave an estimate of the worlds
wheat crop, which made the total yield of
the year 900 bushels short of the con-
sumptive demand; Paris cables reported an
advance in price of franc on wheat and lg2
fancs on -four, based on late Russian advlces
and the fact that the French crop is turning
out worse than expected: Liverpool was
firm; rains and warm weather in the North
west caused fears of damage from rust, and,
finally, the receipts were ITO cars under the
estimates. About the only bearish piece of
newsstand 1t had little or no effect-was
cable saying that prices had fallen four
marks in Berlin because of the collapse OF
the July corner there, and that the cliques
were settling with the shorts. The market
opened quiet,and for the first fifteen minutes
trading was dull and the feeling seemed in
clined to weakness.
For time the buying was slow and eau
tious and the selling rather free, Bryant being
the leader on the selling side and putting out
large line. For some time December held
between SSGc and SSssc, and showed no de-
cided trend in either direction. Then to aid
Tue DULL ucWb dlTt0Qy IcCclfONs AuOluNlhS q
rumor that Russia had prohibited the expor'
tation of breadstuffs. came heavy buying or
ders from New York and ST. Louis. and the
Northwest also began to take good deal of
wheat. Shorts took alarm. and under the
sharp buying the advance was remarkably
rapid. December selling up to S912c In few
minutes and with mnch excitement. Clifford,
Logan, White and G. G. Moore were good
BUYERS on the advance. After touching S9l2c.
realizing sales sent 1t back to S9lSc; 1t reacted
to S94sc, and receded again to S9lsc;
The crowd was anxiously watching Par
bridge and there was general expectation
that he would be run in on his shorts, but he
stood his ground and showed fight. After
the noon hour the market was unsettled and
alternately weak and strong. December
sold up to S9tsc; back to SS7sc, then up ex-
ctedIy to 9OAc. The last sharp advance was
on report that Partridge ana Bryant had
surrendered and had begun to cover their
shorts. The feeling toward the, close was
very nervous and feverlsh, with advances
secured more easily than declines. The
close was at S95Bc against 8SIsc at the close
yesterday.
Corn was strong most of the day. There
were few weak spots but they did not last
long. Shorts seemed disposed to cover While
there was not much for sale. After time
the sharp advance in wheat gave much
strength to corn. Receipts were lighter than
expected and only 300 cars were estimated
for tomorrow. AS the day advanced the
IuSThct COulluucQ W QONOlOp otLCASlhf IhO
shorts covered freely; there was an active
demand for the cash article, and this stirred
up the shorts in July, who excitedly bid that
month up TO 60l2c at the close. september
started at 1880, sold to 534c, rallied to 54Ssc,
broke to 53s4c, then near the close doomed to
55Ssc and closed at 5518c. Mccormick and
Covand and Baldwin and Farnum were lib
eral buyers.
Oats were strong and higher July showing
the most strength on the small receipts of
new oats, five cars being in to-day. The fut-
ure closed at Ale against 3Cc at the close yes
terday, while September closed at N7sc
against 27c yesterday. Hog products were
higher i'll sympathy with wheat, though hogs
were lower. Shorts in pork become alarmed
and proceeded to cover their trades amid
considerable excitement The bulls were
assisted by higher prices abroad. September
pork opened at S1l .42I2. broke to x11.4O sold
up with some fluctuations to Sl1.70 receded
to S11.65, rallied TO $11.s5 and closed at
S11.72l2 against SLATE at the close yester-
day. Lard closed with an advance of 1C9
12l2c and ribs were 5@7l2c higher.
the leading futures ranged as follows: