St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-12-09
BULLS IN The SADDLE
Bears in Wheat at Chicago
Forced to Retire From the
Field.
Little Disposition to Sell Ap-
parent and Shorts Very
Nervous.
Everything on the List More
or Less Up in Price On the
Day.
Bull Market on Wall Street in
Everything but Gould
Shares.

CHICAGO, Dec S.-The bears in wheat were
in trouble today. The news was decidedly
against them, and they were compelled to re-
tire before the onslaughts of the bulls. The
enthusiasm engendered late in the session
yesterday By the heavy decreases shown in
the visible supply report was carried over to
this morning and reinforced by additional
bullish figures.
The amount of wheat on ocean passage de
creased during the week by 3.54OO0O bu; the
worl IS shipments decreased by J, 100000 bu
during the same time; the receipts in the
Northwest were very light; cables were
strong. Liverpool being quoted i2d higher
and Paris 20 confines up, with domes-
tic markets stronger; q bullish govern
ment winter wheat crop review was
expected Thursday and the export clear
ances were large, aggregating 1,361,000 bu
from the six ports, New York, Baltimore,
Philadelphia, Boston, New Orleans and
Montreal.
About the only crumb of comfort the bears
had was dispatch from New York. saying
that London house had resold there at
reduction of Is per quarter a cargo of wheat
bought for export. There was but little dis
position to sell, while shorts were nervous
and apprehensive and disposed to cover.
Cudahy was understood to be a large buyer
some early, he was generally thought to have
taken it back later at some loss. He talks
bearish still, however, and denies covering
except where he gets good scalp.
Mitchell. Logan, Baxter, Harry Lester, Nor
ton Worthington and Kenneth HOPKINS were
| all good buyers. Robson and other proviS-
ion men bought good deal of wheat, which
was understood to be for Cudahv. May
| opened at 9Jls@99l2c, against 9S5sc at the
close yesterday, but rather heavy longs, who
! had rather good profits in the stuff. pro-
ceeded to realize. their sales breaking the
| market 10 99c. When this pressure was re-
| moved. however, the market rebouuded to
| 99s4c. tluctuated frequently within narrow
| range, weakened in the last hour under ham
mering by the bears and free realizing sales
and touched 9Jc. again. This was fol-
| then weakened again. and closed
| at 99lsc The cables were all higher
| with the single exception of Antwerp. The
| early London showed decline OF the shll
| ling on the cargo. but this was generally evil
| IDENTIFY an error, as the late advices noted Sd
advance from yesterday.
Corn was fairly active, strong and higher.
| The receipts were 35S cars but included only
- cars of contracts. Shorts were uneasy.
| principally from the poor inspection, and
| partly from the strong tone in wheat, and
| covered freely. A further decrease in the
already small stocks i'll store here was also
| strengthening factor. The trading in De-
| cember was very light, and was tempered by
| a realization of the fact that there might be
| very light squeeze in it before the month
| is ended In fact, this condition of affairs is
| likely to extend into the more remote future
| unless the inspection improves materially.
/ The shorts are beginning te realize this
| fact, and are inclined to cover their deals In
| all futures. The result of 1t all is a stron &
| market. December opened al 477sc, touche
47s4c, held steady for time, then bulged tC
| 4sgsc, weakened to 4S4c, advanced to 1873 c.
and closed &c lower May huctuated be
| tween 434c to 437Sc. closing at 4334c, against
/ 1850 at the close yesterday.
Oats were dull but firm. and closed with g
substantial advance over yesterd avs last
| fgHres.
The provision trade appeared to be badly
| mixed most of the day. The market started
with a sort of bound because the hogs at the
yards were half the estimate at $4,000. ano
prices 10 cents higher. The offerings were
quiet and free at the advanced prices bu
went back to the closing figures of Monday
Later dispatches from the yards reported
heavy hogs 15c up at S4.15. This was 25t
higher in two days. and cut the profit o.
packers materially. On this showing the
price of pork went again to the best price o.
the morning. Packers bought back pork anC
ribs sold early. Toward The close the pit be
cams dull and prices held steady at LITTLE
change from last night.
The leading futures ranged as follows: