St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-28
FRACTIONAL ADVANCE
On Chicago Change Wheat
Was Firm and Tending
Upward.
Strong Cables and Snow in
the Northwest Were Bull
ISL Features.
Corn Is on a Manipulation
Basis and It's Action Is
Uncertain.
Small Declines Forced by the
Professional New York
Traders.

CHICAGO, Nov. 27.-The wheat market wa!
quiet but firm, during most of the session to-
day, closing with a fractional advance ovel
Wednesdays last figures. The leading bull
ish features were the stronger tone of the
cables and the general snowfall throughout
the Northwest which, it was thought would
restrict farmers deliveries. The purchas es
of operators acting on this theory put the
price up during the first hour to 93c for De
c9mber. against 92s4c at the close on Wednes-
day, and to $3.50 for May, against 9SIsc OIL
Wednesday
At these figures a number of heavy houses
Including Logan, Kenneth Hopkins and Mil.
mine Bodman. turned sellers. probably on
early information of the Field & Lindley
failure in New York. Under this pressure
December retired to 9212c and May to 99I2c.
The market held steady around these figures
for time. but hardened again duling the last
hour on a report that a cold wave threatened
damage to winter wheat December advanc-
ing to 93c and May to Sl00ls. The market
held steady during the rest of the session.
and closed at the top for December, but sac
lower for May. The trading throughout the
session was very light.
Outside Of November corn which Is evil
IDENTIFY on manipulated basis the market for
that cereal was strong during most of the
session. December opened at 47I2c, an ad-
vance of Ac, sold up to 4SI4c, broke to A7SSc
on the announcement of the Field Lindley
failure, but rallied and closed at 47s4c, a gain
of l2c. While there are no apparent reasons
why the November deal should be abandoned,
and no evidence that it has been, the price
of that future, which started with a bulge of
&c, was allowed to lose all Of the apprecia-
tor and &c more al one time during the ses-
sion, closing with a loss of lie, compared with
Wednesdays last figures.
The September corner of S. V. White,
which drained the country Of its reserves of
contract corn. and the fact that there is little
of the contract grade as yet in the new crop,
have made the running of this corner COM
paratively easy. The clique which is run
ming the deal is not definitely known, but
the name of Patton Bros. Bartlett * Frazier.
Ed Andrews Charles Armstrong and Arthur
Orr are connected with it by the trade. The
deal has been very smoothly and quietly
worked, and the profits to the clique are
estimated in some quarters as high as
$4,000.
This. however, is mere conjecture, as the
shorts and the amounts they need to square
theirsdeals are unknown. The known fact is
that November corn, when sold a week ago
at 52c. opened this morning at soc. figure at
which one lot changed hands. Then the
price broke steadily and with very few trans
actions to 73c, but closed at 74c, against 7oc
at the close on wednesday. Aside from @
few shorts and the members of the clique.
nobody paid any attention to it. seldom, If
ever in the history of the board has fluc-
tuaiion of &c in the price of any grain on the
market in single day attracted so little at
tention.
Oats were steady and show little change
from Wednesdays figures.
The fluctuations in the hog market were
narrow and the close shows moderate ad-
vances for most of the articles dealt in.
The leading futures ranged as follows: