St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-26
THE BOOM is IN CORN,
Chicago Bulls Make a Vigor-
Gus Onslaught on Their
Opponents.
Corn and Provisions Respond
ed Readily, but Wheat
Was Slow.
z
Armour Reported to Be Buy
Is ing a Good Deal Of July
Wheat.
os,
StagnatiOn and Dizziness the
Rule in Wall Street
Circles.

CHICAGO, March 25.-Bulls in all products
made vigorous onslaught on their enemies
at the opening of change The vigor of the
attack showed that they considered their po-
sitlon temporarily weak and that it needed
bolstering up. Corn and provisions re
sponded readily and made a marked ad-
vance; wheat responded less freely. Some
of the markets. however broke badly before
the day was far advanced. Wheat was adj
vanced at the start because of extremely
light peal receipts; because of rather mod
crate receipts in the Northwest; because of
liberal shipments from ST. Louis, and because
somebody started the story that Armour was
buying great deal of July wheat The lat
ter item was found to be incorrect. Liver
pool prices were easier; New York and
local holders We're trying hard 10
get rid of their property and a few of the
best traders here were selling freely on the
bulges. Bryant and Driver were the most
persistent of the sellers on the early rise.
Their sales caused q break to the opening
figure, at which price Hutchinsons men be-
gan TO buy wheat. The only effect was to
cause feeble lac rally. Then the BradstreeU
report came in. showing a decrease i'll the
available supply of wheat east of the Rockies
of 156, 900 bushels; decrease west of 639,0)0,
making 1t apparent to the trade that avail
able stocks were decreasing at a very slow
rate. This turned the crowd loose on the
overloaded with wheat bought yesterday,
and these were doing their best to
get rid of the property. The market
again bro Ike badly, and thereafter had an ex-
I ceednglY weak appearance. May wheat
started at Sl.04, sold 10 SI.O47s broke to 81 04,
rallied to S104ss. and then broke to $1.03.
This was very near the put price. Pur-
chaSes against these privileges held the mar
ket here. Receipts at Duluth and Minneap-
oils were 22S cars. Receipts at the eleven
leading markets were $4,000 bu against ship
ments OF 40l.000 bu. OF the shipments 1877, =
Cos blu. were from St. Louis July wheat
started at S1.02H, sold to Sl.034, and off to
S1.01, where il closed, the last cable advces
being easier. Paris was 10 centimes lower
for both wheat and flour: Berlin was the
equivalent of lac per bushei lower; London
was unchanged, and Liverpool l2d lower
There was regular boom in corn at the outset.
receipts were extremely light at 105 cars.
The scalper were short and the bull lead
ers. headed by Bartlett d Frazier, were hold
ing prices higher May corn started any
where from 6Sl1c to 6Ss4c, ana speedily sold
to 69l2c; but before noon the price was &c
Many of the commission houses have nd
wees OF large quantities OF corn en- route for
this market.and they were accordingly trying
to sell out their futures. The demand was
not good after the first half hour of the ses-
sion, and the effect was shown in the price.
The closing price for the May delivery was
61Ssc. The most alarming feature in the
situation to outside holders is the
changed position toward the deal of
the local clique which has contributed
so powerfully to the present imitation.
The Liverpool market was firm and lad
higher, but New York reported prices too
high for shippers. Bradstreet reports the
stock of corn increased 100000 bushels Oats
attracted a fair attention, prices following
those of corn. May started at 5514c, and sold
to 5j5sc. Before the close, May was off to
SIC. A host of brokers were hard at work in
the provision pit at the opening. They were
doing their utmost 10 put the price as high as
-
the time that outsiders and shorts had bought
all that they seemed disposed to buy, prices
were turning weak again. May pork started
at $3.50, sold to Sl2.S1. broke to S11 % and
closed at S12 10. Ali of the other products
went the same road.
The leading futures ranged as follows: