St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-16
Chicago Traders Danced to
the Music Of the Big Deal
er'S Brokers.
They Sold the Market Down,
Then Called a Halt for a
Recovery.
Wheat Is Considerably Better
in Prices, but Other Arti- 1
Giles Are Lower.
Material Gains We're Scored
in All Stocks Listed on
Wall Street.

CHICAGO, Feb 15.-The wheat market was
somewhat nervous today. but generally strong
on the bulliSh character Of the news received,
ana closed with ll2c gam, compared with
Saturdays last prices. Trading opened at an
advance of Ac OH colder weather in the West
and strong cables, with more bad crop re-
ports from France. Outside markets were
also ugenerally strong. After opening Nc
higher, at 9ls4c, May sold early as high as
9ll2@91 ssc split, with Schwartz. Dupee, Cos
ter-Martin, Mitchell and Clifford good buy
ers, presumably on New York orders. But
on the advance, Partridge gave his brokers
selling orders. the crowd was soon democrat
lied by the freedom with which the wheat
was offered and began to draw out, while
others lost confidence and began to unload.
This assisted to weaken the market and
there was no reaction until the price touched
9OS4c. Partridge then called halt. and there
was some recovery.
Another batch OF firm cables, with still an
other installment of French crop damage re-
ports and rumor that Antwerp was excited
and foreigners good buyers at the seaboard,
soon carried the prices back to 9Il409Issc,
where they held for time quite STEADY.
Then the visible supply figures began to ex-
eFt strong influence: some decrease had
been expected, but New YORK caused some
alarm by showing over 100000 bu decrease,
while other points also reported more de-
cline than looked for, and it was quickly ril-
mored that the decrease would probably
reach a million bushels
Primary markets were reporting only small
arrivals. and the cold wave scare got another
start, and this, with the report about the
same time that the visible showed decrease
OF nearly 1,OOO.000 bu more than expected,
caused quite furry. Shorts made rush to
cover. speculation grew sharp, and there was
quick rally to 92e. but the market soon
quoted down and the price fell to 9llac. The
market had another strong squirt after the
noon hour on the higher closing cables and
the liberal export engageme MS thew York
May sold up sharply to 92lsc, but eased Off to
0l54c. then reacted to 9.1sc
Just before the Close apparently as the re-
suit of the combined effect of the DAYS bull
lsh news. a sharp buying movement set in,
and the price was quickly advanced 10 92S4c,
and the market closed strong at 925sc. Nc
Dougall had some good buying orders after
the market got below 9!c OH the first break,
but sold freely on the subsequent upturn to
the vicinity of 92c.
Private dispatches reported forty boat loads
taken at New York for export within the
past few days. a Minneapolis dispatch said
that 2.0oo,0 DO bushels of cash wheat had been
taken there during the past ten days for eX-
port. Indian wheat shipments showed a fall
ing off. All the late cables were strong and
higher. and represented an increasing de-
mand for wheat.
Corn was weak and lower early Liverpool
was 40 lower; the local receipts were con-
slderably i'll excess of the estimates. and
showed decided improvement i'll quality:
the weather was favorable to n betterment of
the grading; for a time after the opening
wheat was weak and the exports were light.
May opened SSc lower at 41s4c. weakened to
41l3c, reacted to 4I7sc on the advance in
wheat weakened to 4Il2c. and, IN sympathy
with the final bulge in wheat, advanced to
4.lsc, closing steady at 42c
Oats were quiet, with narrow fluctuatio
being affected very little by other grains. and
closed 1sc lower
Hog products were comparatively steady.
Live Stock ut the yards were higher, and it
was rumored that Armour was on the bull
side, and there was not much disposition to
sell, and some covering by shorts. After
f1uctuating within range of 7L2c higher to
2l2c lower, May pork closed at the bottom:
May lard is 2I2c lower, and May ribs un-
changed.
Estimated receipts for tomorrow: Wheat,
S02 cars; corn, $50 cars; OATS 3U2 cars; hogs,
%, 900 head
The leading futures range as follows: