St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-09
WHEAT RATHER DULL.
The Chicago Market Marked
by Strictly Local Char
acteristics.
fluctuations Narrow and the
Close Quiet and Un-
eVentful.
Wall Street Stock Market De-
velOps a Waiting Dis
position.
Strong Demand Manifested
Cor All Glasses Of Invest
ment Bonds.

CHICAGO JAN S.-The market for wheat
was local in character and fluctuations were
narrow Easy money and good demand
from abroad for flour on the one hand, were
holding prices up, while Oh the other Snow
and Partridge tried TO keep them down.
There was an advance of about sSc III
the May future and lie i'll the price Tor
July. The announcement mace before the
commencement of the session that the Bank
of England had reduced It's rate of discount
was The cause of some iirmness when The
market opened; under this influence prln-
cipaily May wheat sold at 9G7sc and adj
vanced at once 10 971Sc, compared with 96s4c
al the close of the session yesterday. In adj
dition to the easier condition OF the
money market Indicated by the re-
duction in The bank rate, the cables
were in the main encouraging, one OF The
English dispatches remarking teat the CONT
mental demand for wheat still continued,
and the general tone of these dispatches was
favorable TO holders here. While the foreign
advices. were favorable in tone the absence
of any considerable demand for American
breadstuTs, as shown by The daily reports OF
the quantities exported, Ininimized their ef-
feet here The dispatches from domestic
points did not help the bulls, these being
party. Some of the wheat arriving at Min
neapolis is from the Pacific side of the Rock
les. and. while it is not being used much by
the Minneapolis miIlers, it is being bought
III the latter market by millers from
The winter wheat country. An advance
i'll the price on the Pacific coast
sufficient 10 stop further shipments was re-
ported to several houses to-day, but II a re-
port which came from New York yesterday
is 10 be believed there is Il very large guam
tity of the wheat referred TO already cot
tracted to come forward by the Northern IA
ellie railway Minneapolis grain man,
who was OH the floor here to-day. said that
hc personally had eighty car loads eli route.
Ii was reported that snow was falling over
considerable portion OF the winter wheat
country, and cablegrnm received by Bald
win x Farnum said it was showing plenti-
fully in Germany, France and Italy. The
government crop report was alternately
Speculated upon as likely to favor the bears.
and again to be Gil the side or
rhe bulls. Frank Howard, of the daily
Trade Bulletin, looks for an amendment
of the government estimates for the states
of Michigan Tennessee and Washington, SO
as 10 bring the total Tor the year up 10 400
UUO. 600 bu, while G. II. Murray, of the Price
Current, in adispateh TO Norton Worthlng
ton said it. was not likely to be over 400, 600
900 bu ThesbHll snoints i'll addition 10 The
last item, which grew out of the domestic
situation, was reported good demand Tor
flour for export, fifty ears being reported SOld
TO 20 out from Kansas City. The New York
advices were that considerable inquiry was
in progress there by'foreign houses, but only
one and half boat loads was sold for foreign
shipment to-day. The range i'll prices
was narrow. The lowest price was
9G5ac for May, and the highest 9Ias
n91 Lee The last quotation was 97Ssc
There was u tack oflife in The corn pat dur
ing the greater part of the day, WHICH was
only enlivened during The time the oats
crowd was threatening 10 become hySterlcal
over 54c advance in the price of that cereal.
May corn opened nj 52S4c, being &c decline
since the previous afternoon, and it sold at
525ac sparingly soon nfter. II advanced by
slow degrees, in sympathy with oats, until
33ilc was paid, and then-Soid on to-eSc, fc'
covering to and closing at o3lBc. The i've
lest business done was among the oat deal
ers. A somewhat sudden and material ad-
vance brought out the fact that Partridge
oats. He and his co-untortunateS made Il
lively hustle to figure their shorts, and thew
were only supplied when they had offered a
satisfactory premium 10 certain astntc old
specuIator, who has for some time back been
quietly gathering in the slack OF the rope al
which he gave so vigorous tug to-day. MAY
started steady at 45s4c. sold off TO 455S0
A., sac advanced TO 46l2c, declined TO 46C,
and hardened 10 463Bc on the close, indicat-
ing sac advance. The opening prices III pro-
visions were at a decline of about 2l2c from
the closing quotations on Wednesday. The
receipts of hogs were about $4,000 head,
against estimates made yesterday OF 10000.
The Cincinnati Price Current reports the
packing of hogs to date as being 545, 900 III
excess of the year before, and likely TO run
900, 900 head by March, The result Of the
trading was slight decline in all the specu-
lative articles. The estimated receipts of
hogs for tomorrow are 30, COO head.
The leading futures ranged as follows: