St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-07-28
BULLS HAVE A DAY.
Corn Started q Boom and
Scored a Phenomenal Ad-
vance.
Wheat Was Strongly Excited
on the FURRY in Hoe Cake
Cereal.
Oats and Hog Products in. the
Swim Also Out Of SYM
pathy.
After Two Months of LifeleSS-
ness, Wall Street Grows
Active.

CHICAGO. July FIT was bull day on the
board OF trade. The boom started in very
soon after the tap of the opening bell, and
it was still on when it tapped again at the
close. First prices were the lowest of the
day and closing quotations were at or near
the top figures of the session. Corn was re-
sponsible for starting the boom, and it led
the procession and closed with phenomenal
advance. Except in corn, the opening quo
tations were weak and lower, but when the
shorts in the corn pit began to climb upon
each others shoulders in their frantic ell
deavor to get some of the cereal. regardless
of the price asked, the dealers in the other
pits caught the infection and began rapidly
to advance values.
Wheat opened s4c lower than it closed
Saturday, being depressed by the enormous
receipts-1,345 cars having been inspected
in where only $50 had been estimated-and
DIV the beautiful harvest weather. This was
very depressing at the outset, but cables COM
ing in somewhat higher and corn making
a sensational advance at the start, wheat
quickly recovered and soon became strong
gradually developing into an active and ex-
cited condition. Domestic markets were all
advancing and shorts here soon became
wildly excited and covered freely. Inc re-
suit was that December, which opened at
&,
Pardrdges brokers were big buyers as soon
as the strength began to develop. and he COW
cred large line in the vicinity OF SIC, and
subsequently, put good deal of 1t out at 9Oc
and above. Other shorts were also covering
hastily, while there was extreme caution on
the part of the sellers. Logan d co. Dougnt
literally almost from the start. White sold
some after the market had turned 9Oc, out
was not very aggressive on that side. SCHWARTZ
Dupee were good buyers. The market had
1ifslo n make IL strong except the
strength IN the other speculative pits,
Cables were firm but not greatly hlgher.
while the receipts were simply enormous ana
are expected to be correspondlngly heaVy
tomorrow. Crop prospects were never bet
ter, the export movement unusually hght
and the increase i'll the visible supply quite
heavy. When it was posted, the price proKe
from 901s to S97Bc, assisted by free realizing OF
profits on the bulge and slackenlng IN the
demand from shorts. The late cables all
came in strong and higher. Liverpool re-
ported an advance of 11245d ana Paris an
advance of 10 centimes, and corn taxing an
other lump at about the same time. Decem-
Der wheat sold up to 9lAc. or 31sc above the
opening, and closed firm ut 911ec. New YORK
was good buyer all day, but Partridge was
the largest individual buyer, though Bryant
and Logan were active in that direction.
Corn was the leader of all the other pits
and opened decidedly higher, soon grew ex-
cited and advanced about &c from the first
sales and was very nervous. Recelpts were
so cars less than expected, STOCKS every where
light; cold and backward weather in the
country with the Eastern demand sharp and
New York higher. The local shorts were
making frantic efforts to cover from the very
start and with the little disposition to sell,
prices had to be bid up i'll order to get the
property. September started at 55l2056c and
went right on up with but slight setbacks
until it sold to 5Ss4c. 1t then eased off to
5784c. but when the visible supply was
posted, showing a decrease, the market
grew strong and excited again, bulglng
10 59S4c, closing a 59I2c at which price 1t was
firm. Cash corn at one time was very strong,
and No. . sold up TO Csc and No. yellow to
66c but then broke sharply, No. selling on
to 63s4c. New York was strong and higher.
opening 1l2c to &c above saturdays close. 1t
is said that the advance was due to break
in the Erie canal, which will keep back re-
ceipts.
Oats were dominated by corn throughout
the session, closing within SEC of the top.
Hog products were active and higher, led by
the excited condition of corn and On irmer
cables Hog receipts were in excess OF
cables, and prices were no higher. but shorts
were excited buyers from the start. Septem-
Der pork sold from Sl1.45 to S11.s0; off to
S11.55; up to Sl1.75, and closed at 81. 20, an
advance over Saturdays close Of 22l2c. Sep
TENDER lard shows an advance of 121?c and
ribs of 7l2c.
The leading futures ranged as follows.