St. Paul daily globe., 1892-10-07
PORK The LEADER.
The Provision Pit on Chicago
Change Led in Activity
and Strength.
January Futures in All Prod
uetS Make Good Round
Advances.
Cereals Lacked Animation,
but Had a Firmer
= Tone.
Wide Fluctuations in Some Of
the Specialties on Wall
Street.

CHICAGO, Oct. 6.-The pork market got
great lift today. 1t was the leading market
on the floor for activity and strength. The
strong feeling was shown by jump of about
lOc at the opening. This was followed by a
further advance of 90c early and after some
reaction a later bulge put the January price
up nearly soc over the close Yesterday At
the same time January ribs were advanced
17l2c over last night and lard 12l2c Grain
lacked animation, but had firmer tone, and
closed at nearly the best prices for the day,
the final figures compared with last night
showing gain of ssc for wheat and ls for
corn.
Wright. who has the short rib deal for Oc-
tober, began buying January pork heavily.
1t was on his purchases of TO- 900 bbls that the
first sharp advance was made Later there
was buying. probably on stop orders by
Logan, Baldwin, Champlin and others.
There was buying also for the country. Ryan
was buying in what was thought to be short
pork. The packers were sellers of pork at
d1ffarent times, but the offerings were not
sufficient to break the market The October
stuff was largely neglected with the big buy
ing all around for January. The later re-
ce1pts OF hogs, and that January pork was
low relatively, and a big short interest were
talked OF as the chief causes of the unusual
advance. Assertions were not lacking
however, that the strength of the
latter partook largely OF the fictitious nerve
which was being pumped into 1t by manipu-
lators. j.. G. Steever was free seller of
January ribs. which led the brokers TO the
conclusion that while Wright was bolstering
up pork and lard he was selling what he
could OF January ribs.
Today brought a good many dispatches
from the country coufirmatory Of reports as
TO the damaging effects of the dry weather
the fall sown wheat, and these gave the mar
Enr CT nftaer.
local operators were good buyers and as
there was little for sale shorts soon deemed
it prudent to cover. But easier cables liberal
receipts i'll the Northwest and free deliveries
at primary points soon took the edge off the
market and there was some decline but the
market seemed pretty stubborn and did not
yield much.
Clearanees, while not heavy. were consid-
erably larger than yesterday. Early there
were good buying orders from New ork but
later the same interest sold freely. Elevator
men gave 1t out that Kansas City shippers
were sending much less wheat. There was
less snowy individual trading than for some
days past, and altogether it was dull mar
ket after the early advance. The opening
was about the same as the closing figures of
yesterday, and prices were advanced ss@l2c,
ruled steady, and the closing was about 140
Csc higher than yesterday.
The corn trade appears 10 be pretty well
evened up and waiting for fresh influences
the movement to market continues very
drawais. Dispatches were at hand saying
farmers will hold their crop of corn at pres
ent figures, and other dispatches say that re-
eeipts will be larger when the railroads can
furnish the cars. Some authorities call the
eropsafe. while others say that many sections
have soft corn, needing another week or two
of fine weather. These conflicting claims
keep the trade in doubt. Price
changes were limited to 12c range.
Opening trades were about the clos
ing prices of yesterday, and were firm for
the time but offerings became larger, the
liberal receipts and talk of light cash de-
mand creating 'bearish'' sentiment, under
which the market sold off l2c. AT the de-
Cline the demand improved, andon the buy
ing of good-sized line of May by provision
broker the market reacted. recovering the
break, eased off slightly. ruled firm, and
closed with october lsc easier, and May
shade better.
Oats were almost stationary and feature
less
Freights s-The demand for vessel room was
moderate and rates easy at 214c for wheat,
and &c for corn to Buffalo. Estimated re-
ceipts tor tomorrow: Wheat. 500 cars: corn,
6-5 cars; oats 800 cars; hogs, 10000 head.
The leading futures ranged as follows: