St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-02-02
SHORTS ON THE RUN.
Roaring Bulls Have the Chi
cago Wheat Market at
Their Feet.
May Wheat Tops One Dollar
Thpee-Eighths at the Tap
Of the Bell.
Wild Scramble for Scanty
Offerings Of May and July
Deliveries.
New York Stock Market Rules
New York Stock Market Rules
! Throughout Dull and
Heavy.

= CHICAGO, Jan. Sl.-NOt since the lat
ter days of August have the bulls in
wheat had the market at their feet and
the shorts oh the run in such style as
during this days session. The market
was quite beyond individual control,
and Partridge was apparently cogni-
Zant of that fact and did not make any
effort in that direction. Cudahy started
the ball '.a-rolling" in a bullish direc-
ton, and every trader in the pit gave it
a kick toward the bulls goal in the
course of the day. Partridge toward
the end was apparently covering some
wheat, Judging from the proceedings OF
his brokers, who were bidding for
wheat,and at the same time Hutchinson,
who is now said to have been
heavy buyer on the recent de-
cline TO Soc, following it down
TO 93c and continuing his pur-
chases on the succeeding advance, had
his brokers bidding S1.O0as for May
wheat as the bell tapped. Before the
opening of the session Omaha wired as
follows, regarding the weather there:
CLOUDY; indications of rain" Des
MONIES reported the weather at that
point: CLOUDY, warm, thawlDg some
what" The Minneapolis weather man
predicted drop of 30 deg. in the tenn
perature of that region within the next
twenty-four hours. These, with the
official assurance of the Washington
service that a genuine. truly cold
wave was spreading from the North
west, made the scene in the wheat pit
at the start wild scramble for portion
of the scanty offerings OF the May and
July deliveries. The crowd to man were
willing to pay Gslc for May wheat,
but only few of them were fortunate
enough to secure any at that hgure, al
though it was plump sc higher than
sellers were plentiful at as the market
closed on Friday. There was rather
more for sale at 99c. but Still not enough
for the numbers who clamnred for 1t,
and all the way up to 9Ssa was paid i'm
mediately at the start. The big buyer
at the opening and for the next half
hour was Jack" Cudahy. and, strange
to say, he was not influenced to any
considerable extent by the problemat-
zeal cold wave, which in any case Is not
expected to damage the May wheat he
was bidding for. Dispatches from Min
lleapolis reported sales of flour there at
PIC per sack mbre money than
had previously been paid since har-
vest, and IN consequence thereon an
active demand Tor cash wheat. 1t was
the foregoing state Of affairs which
started the crowd to covering ''Shorts"
and going along at rate which sellers
would not supply without an advance
in the price at each fresh sale. Under
Al. rfn,, ON afiN ~
was not long in its accomplishment, and
as the market was kept whipped zip by
bull dispatches all day long an advance
to 81 was not surprising. One OF the
most stimulating announcements OF the
(tay, which caused an advance from 99c
TO 81 in very short time. was made in
a dispatch from New York. which re-
ported that vessel charters had been
made there for the shipment of 100000
bushels of wheat in March, and the yes
sci room for 100000 bushels had also
been engaged for February shipment
from New Orleans. Corn opened
firm. The receipts OF corn were
50 cars less than the previous
days estimates, and the Weather
was unfavorable to any improvement in
the grading. These were the motives
for the market opening about &c higher
IMAM IL ndu clOSeu yesterday, anu liie
advance in the price of wheat raised it
to 5316c for May. The opening price
was 525sc. with a few sales at 52115c and
some at 52%c. 1t subsequently sold as
stated to 531sc Oats were dull and in
active: May opened at 457s@46c, sold to
4G@461Sc, to 455s@46c, To 4ols@461ac.
closing &c above yesterday. Pork-A
fair business was transacted, and the
feeling was cOmparatiVely steady: early
prices ruled 219(D5c higher. but receded
5(071@c; at the decline the demand i'm
proved, and prices rallied l5@l71ac and
closed quiet. firm. Lard-Trading was
moderately active; prices ruled 219@5c
higher early. but little pressure to sell
caused weaker feeling. and the ID
vance was lost: toward the close prices
rallied again and ruled steady. Short
Ribs-Good trade reported within
range of 5@719c.
The leading futures ranged as follows: