St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-18

Lard was less decided in its fluctua-
tions. closing with a loss of only nc.
Ribs lost 712@010c.
Views From the Gallery.
The visitors in the gallery to-day were
well entertained, and the gentlemen on
the floor were not heard to complain of
lack of ''action." Within three-Quar-
ters of an hour after the opening, in
the great furry, there had been sales at
Sl.1215, a great flood of them at Sl.13,
and some excited traders bid S1.14,
while hundreds were selling at a cent
lower. In the height of the excitement
one trade of 10000 bushels was made at
Sl.15. Suddenly it became known that
several houses with foreign connections
and foreign orders were selling
heavily. This was enough. If there
had been wildness in the previous
buying there was little short of insanity
in the selling craze which followed.
The local bears, who had been too
frightened to sell for several days
past, plucked up courage and made a
combined onslaught. in which they
were aided by the timid ones who had
qeen following the bull lead. How De-
cember did drOpi The most determined
efforts of the bulls could only result IN
holding it now and then for minute on
the stairs and perhaps boost 1t up a
step OF two, only TO have 1t start down
again. 1t was too heavy.
Old Traders
said the rapidity and wide range of the
fluctuations to-day exceeded Saturday
or anything seen before on the board.
On the curb this afternoon there was
much wild trading. December was sold
~ n llc51 n
81. .1O15, and "puts" at 9S% cents. As
things stood to-day at the close. it IS
said, not Chicago man has made
cent on the market, ard there are few
who have not lost more or less by the
excitement. Many now have their en-
tire fortunes at stake, and were buying
and selling in the same minute to pro-
tect themselves. New YOrkerS are re-
ported to have made the most Of the
money. One prominent broker held
that it is farmers market" The ad-
vance to the farmer, he said, has been
over 20 cents a>bushel.
Opinion among dealers and brokers is
pretty unanimous that heavy foreign
buying is at the bottom of the present
furry. The idea that the manipulatOrS
were New York spectators, which OBJ
tanned at one time upon the floor, IS
now generally secuted, The general
notion is that the shortage Of wheat
abroad has drawn many heavy foreign
buyers into the market, and that the
upward tendency has found Chicago
holders short.
RuSsIa the Prime Factor.
Well posted brokers lay all uncer-
tainty to Russia, saying: ''If the Chi
cagO people knew what Russia's wheat
crop amounts to, or what to expect from
Europe, they would know what to do;
but, as it is, we have no idea where we
stand, and have nothing to go by. Men
of the best judgment are puzzled" The
excitement was not confined entirely to
the-wheat pit. 1t quickly spread to corn,
rye, and even granger stocks.
wheat, without anything to espe-
cially affect 1t. The fuctuation
reflected the wild spirit of speculation
which has attacked the board. August
corn jumped from 6415 to II cents
within the first half hour of tire trade
and then dropped back to GO cents. Sep
tember corn also took a jump and
landed on the 6S-cent notch, and then
took tumble and fell to 63%. Rye
futtered about until it was difficult to
keep track of it. 1t was up and down
between S1.06 and S110 throughout the
session. This tends to show the char
acter of the market. A remarkable
feature of the market is that despite its
wild character there have been no sus-
pensions. Margins have been promptly
forthcoming, and the fears of Saturday
that to-day would see a number OF trad
ers 90 to the wall were, happily, un-
founded. Houses with large country
trades are advising their customers to
take their profits, and, in most cases,
the advice is being acted upon.