St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-11
THE BEARS AHEAD.
The Slight Transformations
Somewhat Against the
Bulls.
AHard and Determined Strug-
gle Against the Bull In
fluence.
Corn Closes at a Slight I'M
pYovement Over Former
Prices.
Missouri Pacific the Leading
Card in Wall Street
Stocks.

CHICAGO, April 10-There were many sen
sational transformations in the appearance of
the wheat deal in the course of to-day's SEES
sion, but the advantage was in the end
slightly in favor of the bear party. There
was a hard and determined struggle against
the tendency gwen by the tone of the greater
number of the days dispatches, which was
in favor of The bulls but the foundation of
al the bullish items was the foreign demand,
and that was very much weakened by the
lower closing cables. Corn was firm, after
momeutary weak spell at the opening, and
closed at about l2c improvement on yester-
days closing figures. Provisions were dull,
heavy. and tending downward, closing with
n better tone, however, and pork and ribs at
Il Slight Improvement upon yesterdays final
prices. The scenes i'll the wheat pit opened
with brilliant sunshine out of doors and a
grand chorus of sellers. The first transac-
tons were at about 12c below the closing
price of the day before; May started
at Sl.03S4 .0358, and July at S1o2l4@l.O2ss.
In about five minutes from the start May was
sL04h and July S1.03 The local weather
was the paramount influence at first, and the
very strong cable dispatches began 10 exer-
else their power Immediately thereafter.
Adding up the takings Of wheat by exporters
al New York yesterday, it was found that los
boatlOads, say 364, 900 bushels had been
worked The weather in the Northwest was
reported stormy, with heavy snow at many
points; the latter feature supplied more
moisture, but is calculated to delay seeding.
The government report, to be issued this
afternoon, was expected by bulls and bears
alike to show that the prospect for the next
crop of winter wheat could not well be bet
ter, and that the area is much enlarged:
all that was already discovered. Fur
Their export business in New York,
kets supplied the motive for further
advance over the prices already noted. The
snort sellers were driven TO cover. Hutchln-
son, " no had been free seller of j uly wheat
for two days, was the most eager buyer to-
day, while Bloom and PaTdr1dges brokers
also competed with each other for the limited
offerings. Many Of the lesser bears followed
the examples of those here named, but it is
shown that there is still compact phalanx
of heavy operators who are fighting for lower
figures. The latter were rewarded for their
stubborn resistance to the early BOOM which
carried May wheat to S1.05 and July 81. 035s.
From around S1041s the advance to the
high point named was very rapid, ana an
equally quick decline followed the receipt of
lower quotations by the afternoon cables.
The rush to sell was SO unanimous that
complete reversal of the earlier conditions
Immediately took place; few buyers could
be found until it was being offered at Sl035s.
when some shorts took hold and bought I'M
I'll the price reacted to S1.G37B for May,
where they dropped it and did not come
TO its aid again until another wave of depres
sion had carried it to S1.03I2. The corn
market was early on the improved weather
The demand for the current receipts was the
supporting feature of the legitimate situa-
ton. and The small quantity of contract corn
is The permanently strong shape of the spec
ulative side OF the deal The opening price
of May was 66Ac, at which few sales were
made. ana then a steady advance to around
61SSc commenced. reaction took prices to
$3.50, and final upturn left the closing quo
tations at 67Is@674c Oats opened S8@l9c
higher, after having fiuctuatcd 1c. The
market for provisions was weak at the
late, but was frmer with corn later, and
closed 212c lower for May pork and I'M
changed for July. Lard lost &c, but RIBS at
the close, had improved 2l2@=c since Satur-
The leading futures ranged as follows:
Open High Low Clos
ARTICLES. ing est. est ing.