St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-09-19
JUST HOLDS ITS own.
Wheat Closes in Chicago at
About Exactly the Figures
OF Thursday.
Corn Fluctuates but Slightly
and Closes Strong at
Good Prices.
Oats, Mess Pork, Lard and
Short Ribs Are Uniform
ly Steady.
The Stock Market the Most
Active Of Any Day for
Years.

CHICAGO. Sept 1S.-Since the securing of
the immense wheat crops without damage
became assured. and since the scare over
the farmers alliance Hold Your Wheat,
circular died out, this market has had to look
to the East for news calculated to affect
prices, and New York as the entrepot for
about all of the foreign intelligence has nat
urally been the point from which nearly all
of this class of news has come. Houses with
foreign connections in New York. say the
traders here, have not been slow 10 take ad-
vantage of that fact. and have managed to
secure early advices of happenings in Europe
calculated TO affect prices, and holding this
intelligence until they have placed their
orders with their commission men in Chicago
have been in q Secure position before the
news became known 20 the trade i'll general
Aside from this. it is charged by local traders
here that there are more than grounds
for suspicion that news was invented
or doctored for the Chicago market in
tho interest of outside spectators. III evil
dence they point to the numerous war scares
and the like, which have turned out to be
of little or no consequence, and the very
contradictory market reports received. Some
times Liverpool would be quoted lower to
the private wire houses when the public
cable to the board quoted it higher, and vice
NcTSd. w ueLNer IneSe charges are truo
not, the market has for some time been kept
IN very nervous state, and dealers have
been more Influenced by the character of the
current rumors, and whether houses with
New York connections were buying or sell
ing, than by the conditions legitimately
affecting values. The result of it all has
been that New York has had all the best OF 1t
in the violent fluctuations which have char
acterlzed the market and have succeeded in
guagng the movement of prices with much
accuracy, selling at the top and buying at
the bottom, and making about all of the
money made on the turn. except that made
by ST. Louis dealers, who have followed the
lead of New York pretty closely and have
realized handsome results The accuracy
with which the New York spectators gauge
the influence of news on this market was
well illustrated to-day. The early cables were
DulllSh and were accompanied by buying or
ders, and, as result, the shorts got scared
and tried TO cover; but, finding no wheat for
sale. they began 20 bid for it, putting prices
up sharply. Finally, after they had put the
price high enough to give the early purchas-
ers handsome profits, the New Workers began
selling, and rounded up good days bust
ness with prices at about where they left off
last night and in good shape for another
bull campaign tomorrow morning If condi-
lions favor Wheat ruled strong from the
start and sold up l2c, and held the advance
with good deal OF stubbornness. There was
no sensational news i'll the market.
but cable advices reported a very
the private advices from the continent indi-
Gated some weakness there. New York
seemed to take the lead in strength and had
good buying orders on the floor most OF the
session. Foreign houses were said to be
picking up wheat there very literally and
the houses here with foreign connections
were generally good buyers. The demand,
the strong underlcne and the bull dispatches
made shorts very nervous. and there was
general desire to cover, but there was harJky
any wheat for sale, and every attempt to
cover line put prices up instantly.
The rumor that Russia had prohibited the
exploration CT wheat which was circulated
late yesterday afternoon was denied this.
morning. Later private cablegram from
St Petersburg said that general prohibition
was improbable, though the export of Persian
wheat had been forbidden.
Later in the day a telegram from New
1ork said that Russia has prohibited the eX-
portation of Persian wheat" which is said
to be grade of Russian wheat embracing
about one-third of the crop. December
opened at 9ss4@99c, against 9Sasc at the close
yesterday, sold off TO 9SI2c, reacted then,
after season of quiet, forged to 81 OOI2.
broke to 99I4 soon after noon hour on sales
for New York account; later there was re-
action and ii closed at 0S34 Late cables to
tho board of trade quoted Paris 1c@i5 cen
times higher and Berlin excited at PA MARKS
higher.
Corn opened lower on account of the con-
tinued fine weather in the Northwest, but the
strength displayed by wheat caused the mar
ket to assume strong tone. October opened
az SIC, touched 5l75c, advanced TO 535sc,
broke to 52l2c, and closed at 525sc, against
52l2c Yesterday. September was weaker.
losing lac.
Oats were steady to firm, with fluctuations
of Ac.
Hog products ruled strong and higher, on
a good demand and the firmness in grain
during the forenoon, but weakened with
them in the afternoon.
The leading futures ranged rs follows: