St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-06
Speculative Market on Chi
cago Change Averages
Strong, Higher.
An Accession Of Strength or
the Curb in Both Wheat .
and Corn.
Investment Character of Buy
ing a Prominent Wall
Street Feature.
Activity in the General List
Greater Than for a Num-
Der Of Weeks.

CHICAGO, Jan. 5.-The speculative markets
on change averaged strong and closed higher
than on Saturday. The closing quotation
for May wheat was 9S84c, compared with
CSC on Saturday. Corn was quoted at 53l20
53aSc as the session was terminating, against
53SBc on Saturday. Provisions acted strong
on the smaller receipts and higher prices OF
hogs and the expectation that the recent i'm
mense slaughter of the innocents is over. On
the curb, previous to the commencement OF
the regular business, there was an accession
of strength in both wheat and corn, which
had its source in the weather bulletin for the
month of December, in which it was stated
that wheat had deteriorated in condition ow-
ing to the drought experienced throughout
all extensive area of the winter wheat
country. The early cabegrams likewise
tended 10 the creation. of the strength with
which the market opened. The principal
part of the trading at the opening brush was
at from 991s@9eA for May. There was a
counter current of feeling which could not
find due expression at the opening moment
1t was based upon the reported receipts of
81 cars at Minneapolis and % cars at
Duluth. AS this was Cd cars more
than the aggregate at these two places year
ago, it was another postponement following
up of the Northwestern receipts. This inf1u-
ence told upon prices Immediately after the
first batch of buying orders had been exc
cuted. There was a gradual decline until a
put price made for it hating place. The
price then reached was 971sc, and various
rumors, contradictions of rumors. canards,
estimates and ingenious inuendoes and in
ventions. first on one side and then upon the
other, which are the usual Accomplishments
of an active session. caused reactions and re-
reactions in rapid succession, but principally
in the direction of higher prices after the
above noted decline. The Indian shipments
for the past week was one of the influences
on the bull side. The local receipts were on
the per contra side of the account being l76
cars against estimates of So cars made on
Saturday. There were rumorS that the agri-
cultural bureau at Washington made the
latest estimates to show smaller quantity
as the result of the seasons yield than had
cen looked for. This caused one of the
sharpest bulges of the day. The price of
May wheat upon its receipt was about 977sc,
and it jumped so quickly that only three or
four trades were possible between the latter
price and 9S4c. 1t sold up to 985sc on the
stretch referred to, and gradually sagged
again when it was discovered that the uld
mate result OF the crop estimate was still I'M
known to those engaged in compiling them.
There were several fluctuations over range
of about l2c; once the reaction carried the
price down to 97Sc and again it advanced
until 9S7sc was paid for one or two small
lots. The price, after reaching the altitude
last referred to, Sagged back once more 10
9S1Sc, but the reported taking of 10000 blu
for exports from Baltimore closed the mar
ket strong at within 18c of the extreme point
touched during the session. The trade in
corn was heavy after the first hour of trad
ing. 1t was easy early in the day on account
of the local receipts being 175 cars instead
of SO cars, as estimated on Saturday.
There was rumor that the forth,
coming government report would show
less quantity than has been commonly fig
ured upon by the SPECTATORS and there was
very sudden and material advance, during
which some orders to buy and sell at certain
prices were impossible of execution, so rap
idly did the price shoot up The opening
was at about the same price as it had closed
on Saturday, which was 533Sc for May. The
first move was downward, as already indi-
Gated, and sales were made at 52S4c. On the
advance which followed. it rose to 5318c.
From around 53lsc on this advance, the adj
ditonal s4c was added inside of five minutes.
Walker Il Co. were sellers early, and Norton
Worthington were moderate buyers. Frank
Dunn whooped her up on the squirt in all
endeavOr to catch some on the bound, but he
secured very little, the jumps being too spas
modic and quick. There was a fair trade in
oats at slightly better prices. The trade was
in smaller lots, however, and pretty we'll
distributed among the crowd. Aldnch led
the buying. The first sales OF May futures
were at 1850, then to 454c, to 457sGD46e,
to 455sc, on estimates of 200 cars for to-
morrow. Thence the price worked up to
46c, and closed strong and 1Ac over Satur-
day at 457s@46c. The first sale of February
was recorded at 43Ac, January remaining
nominal. Pork-Quite good speculative
trade was reported, and prices fluctuated
frequently. Opening sales were made at 10
@1212c advance but prices settled back SC.
Later prices rallied 17E@2Oc, and closed
steady Lard-Rather an active business was
transacted, and the feeling was decidedly
strong Prices on the whole ranged 507l2c
higher, and the market closed rather firm at
the improvement. Short Ribs-The market
attracted considerable attention. and trad
ing was quite active. Prices on the whole
market closed rather steady.
The leading futures ranged as follows: