St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-12-20
BUSINESS IMPROVED.
Local Traders Kept Things
Lively on Chicago Board
of Trade.
Foreign Advices We're Con-
Trajectory, and Made Deal
ing Uncertain.
Liberal Buying Was INDUCED
in Late--COpn and Pork
Go Down.
Purchases by Foreigners the
Feature of Wall Street
Dealings.

CHIcA,io Dec. 19.-There was a decided
improvement il the amount OF business
done in the wheat pit on the board OF trade
today in comparison with that of the past
few DAYS. though it was chiefly OF local
character Prices started at about the clos
ing figures of yesterday, but the tone OF the
market was hesitating ard uncertain for
time The controlling influence here during
the week has been thu foreign situation,
which has been intensely bear sh. Both the
British and continental markets have not
only been quoted lower from DAY to day, but
accumulated stocks and very Limited &C.
mand were noted in tine cable advices.
For the last two days, however, sentiment
here seemed to be yeering toward the Dull
side, ard operators were more and more IN
clined to think the prices had reached
point at which it would pay to buy 1t
needed but a turn in the trend of foreign adj
vices to translate this sentiment into a mod
crate buying movement. The early adviees
from across the water this morning were con-
flicting The boards Liverpool cable quoted
wheat futures l2lld higher, and market ac-
tive. but its London dispatch noted decided
decline in values. This was thought to be
an error. but it was sufficient to becloud the
situation somewhat. and to cause the uncer-
tainty noted. few longs made an effort to
unload aud the bears sought TO inaugurate
raid but it proved a failure.
The later cables showed that foreign mar
ketS were really stronger; that there were
liberal acceptances of last nights offers, and
that foreigners were good buyers at New
York. Paris was said 10 have advanced
sharply. and one private cable said that Rus
sian agents were buying large quantities OF
wheat i'll Roumauia. This soon turned the
trade. Early sellers covered and went long.
and the selling pressure was quickly re-
heVed. Ream, who had SOLD lDerally around
f1,o ,a,,f,, To Sp@A
things, and began to buy. Partridge, who
was popularlX supposed 10 be big short
bought generously on the up-turn, partly to
even up, and partly for scalp on the bull
side.
The crowd at large was bullishly inclined
and as soon as the market showed its strong
undertone, there was liberal buying by scalp
ers. sam Adams, who mas been pro-
nounced bear. openly announced that he
had abandoned that side and was now look
ing for healthy bull market basng his
opinion entirely on the merits of the situa
ton at home and abroad.
There was no furore i'll the market. nor any
big squirt. but strong, confident feeling and
good, liberal buying. Trade, however was
neither heavy nor very broad. May opened
at 97I2c. touched 9155c, weakened to 91S8c,
reacted to CSC held around $3.50, for a time,
weakened to 97l2c, but rallied some near the
close and closed firm at 97s4c.
Corn was decidedly weak early; the re-
ceipts were 20 cars more than expected and
included 50 cars of the contract grade. This
improvement i'll the inspection started pretty
liberal selling, Ed Driver and Norton Worth
ington being in the lead and weakness was at
once apparent. drop of &c in December
corn at New FORK increased the depression.
Later on the advance IN wheat the tone of
corn improved, but it became unsettled dur
ing the last hour. going still lower and clos
ing near the bottom. The market acted
rather nervous and the crowd scared easily.
selling freely when it broke and buying back
as eagerly when it turned strong.
December opened 1I2c lower at 47l2c and,
huctuating as noted above, receded to 45S4c
and closed at Acc. January shows a loss of
1c, and May of Ac. Oats were steady and
without feature.
Hog products were lower. Receipts of
hogs were 1000 head above the estimate, and
prices at the yards were 1j@D20c lower. Pack
ers were free sellers from the start, with the
Cudaby Packing company the most aggres
Eive. The close was near the bottom figures
Of The day.
Estimated receipts for Monday: Wheat, 230
cars; corn: $50 cars; oats, 125 cars; hogs, ST.
COO head; for the week, 100000 head.
The leading futures ranged as follows