St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-08
Vu6ne VIM V6WVVVO
Extreme SenSitiveness Was
the Ruling Factor in Chi
cago Dealings.
Although the Days Prices
Averaged High, the Close
Shows a Loss.
Corn Affected by Feverish-
ness in Wheat, and Is a
Bit Lower.
Enormous Transactions in
Coal Stocks Dominated
Wall Street.

CHICAGO, Feb. 6.-Wheat was extremely
nervous today, and though il averaged higher
m uch higher at times-it closed at shade
under yesterdays last figures. The news was
generally of bullish character, though some
of the items of intelligence calculated to
affect values, both for and against higher
prices, were declared to be inaccurate or un-
true.and there were suspicious that the news
manufactury was in operation. For instance,
it was given out by one house that the story
about winter wheat damage from frosts in
France could not be true, inasmuch as its
French correspondent had furnished the re-
cent temperatures in that country, showing
that the frost line had not been reached.
On the other hand, while Bradstreet's re-
ported the exports from both coasts for the
week at substantially the same figures as for
the preceding week. statement was handed
around that this was incorrect and there
was, in reality, an increase of about quarter
of a million bushels. The market was i'm
such nervous condition that it responded
readily to such influences There is under
stood to be a large short interest," and the
steady upward turn for the past few days
has created some alarm, and there was more
disposition on the part of shorts to cover, and
even some OF the most stalwart bears were
proceeding with more caution. Even Pard-
ridge was not plunging with his usual reck-
advance eliminated, when he turned seller
again.
At the start there was good deal of nerv-
Gus strength left over from Yesterday, and
this was reinforced by the bull news. Cables
were all quoted higher. Paris showing the
most advance. This was said TO be due TO
serious damage to the French crop and fear
of more to come. This was in fact, the
principal ammunition of the bulls, and it was
used for all ii was worth. At the start prices
were SS015Sc above Yesterdays close but the
advance led to heavy realizing sales by the
fortunate longs. and under these offerings
there was quick drop. When this pressure
was off, however, the market showed its
buoyance by a speedy reaction, but later
weakened again and lost the gain. NAV
opened at 92092Ac against 916sc at the close
yesterday, sold off to 91sBc, advanced to 93Mc,
broke to 91l2c, rallied TO g2I2c huc.uated sew
eral times within the established range,
broke to 9lssc again, but closed firm at 9lI2c
Corn was more subject to the influence of
wheat today than 1t has been for some time
past 1t opened excited and higher at 43c,
against 425sc at the close yesterday sold off
425Sc, advanced to 434c, broke during the
last hour and closed at 4214c. The trade was
broader and confidence more general, and
not only were the belated shorts coming in,
but investment buying was on the increase
The situation has not changed materially, as
IT was apparently strong enough before; but
the feverish condition in wheat has impaired
a similar tone 10 corn.
Oats were more active aud strong but de-
VelOped no special feature. Z
Early in the session hog products were
rather more active and firm in sympathy
largely with the buoyant feeling in the other
pits, but weakened some later and closed at
slight advances.
Estimated receipts for Monday: Wheat 1850
cars; corn, 200 cars; oats, $50 cars; hogs,
$4,000 head
The leading futures range as follows: