St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-26
NO 0AE-MAN kiIAaiS':$S.E!:!
Bulls and Bears in Wheat Al
ternately Take Their
Innings.
Trading in the Pit Brisk, Bor-
dering on the Exeit-
ing.
The Tone of Wall Street Deal
ings Barely Steady, Though
Weak.
The Trading Mostly Of a
Purely Professional Char
acter.

CHICAGO, Jan. 4.-The grain markets were
weak during the first hour Of the session to-
day, being dominated by the selling Of Pard-
ridge in the wheat pit. Trading was in
active early but was brisk and bordering
upon the exciting in the latter half of the
session. The St. Louis contingent, which
embraces the Art club of that city and Kauf-
man the miller made large profits on the re-
cent decline, are now apparently working the
bull side, and there is a numerous body of
strong bulls in New York, who have been
steadily fighting against the recent declining
tendency of prices. The business is out of
the rut for the present, and is no longer
one-man market Wheat at the close
was about 2I2c higher than at the
corresponding time yesterday. Corn gained
9sc, oats l4c, and even provisions picked up
and closed little over yesterdays closing
quotations. The firmness OF the foreign
markets was the cause of Ac advance in the
opening over the previous days closing
prices of May wheat. The first general trad
ing was at 94Ac, but it soon advanced another
140sSc. Partridge commenced selling at
9112c. Very soon the weight of his offerings
caused a gradual sinking of the price. The
trading became light, but the market evil
IDENTITY felt the weight Of Pardridge's opera
tons, and the price for q moment touched
94c the lowest for the day. By IL o'clock the
price had passed Csc, and in ten minutes
more it was 9512c. The news of the day, apart
from the frmness of the English market
and the strong statistical position, was
i'll the main bearsh. Bradstrect's opinion
that the crop of 1890 was nearer 400 DOC, 900 bu
than 40, 100000 bu was the principal outside
assistance which the short sellers received,
enabling them to depress the price IN the
early part of the session. The buying orders
from st. Louis was big feature in the days
business. KenneIt-Hopkins bought greedily
from !,4ls 10 95 C, and were still steady buyers
when the price was around y6c. Other houses
with st. Louis connections were also heavy
buyers, S. V. White Co, w. q. Mccormick
4 Co.. Logan d Co., Baldwin, arnum, Nc
Dougall, F. D. Brown and the crowd started
with great unanimity to buy, and Partridge,
when the price got above 96c withdrew.
The visible supply is expected to
show a decrease for the week
The price of May wheat finally advanced to
9e12c. The corn market was rather dull and
the fluctuations narrow until wheat began TO
show such phenomenal signs of strength,
when it also picked up and followed slowly,
and with somewhat shorter strides, the
course of the other cereals. The May de-
livery opened at 5134c, and lowered for a
time between 51s4@517sc. after dip near the
opening to 51ssc. The subsequent trend OF
and an advance to 5212c ultimately took
place. the oats market was dull and quiet,
in the absence of any outside demand. The
trading was mostly in small lots. Hutchin-
son was the principal buyer although he also
sold mall quantity. The market received its
strength from wheat and corn. Only $4,000
hogs at the wards against 2S.000 expected,
and an active demand for the small receipts
was the tenor of the report from the stock
yards this morning. This gave tirmer tone
to the opening transactions in provisions,
but it lost its early improvement in the first
fifteen minutes, but quickly recovered it
again and ruled steady Pork for May deliv-
cry closed with gain of &c. Lard made an
improvement of 2L2c and ribs of l2c.
The leading futures ranged as follows: