St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-11-17
FAVORED The BULLS.
Lower Cables Have No Effect
on Prices on Chicago
Change.
Higher Prices Reached on All
Futures OF Wheat, Corn
and Oats.
Packers and the Clique Run
ming the Provision Cor
ner at Outs.
Stock Speculation in Wall
Street Was Less Active
Again.

CHICAGO. Nov. TO- Ignoring completely
European influences, all the markets today
went serenely upward. Compared with last
nights figures wheat this evening is 5se
higher. corn 1c higher, oats S4c up and the
provision list made good advances also
Wheat receipts were smaller locally than
expected by about eighty cars. and though
cables were I2d lower, there was good buying
by Champln. Lester Mitchell AMI Logan at
the opening. There was not much for sale.
and shorts seemed to consider it prudent to
cover. But on the firm spots Pardridge
Mllmine, Bodman and Schwartz-Dupce were
good sellers. and the slight advance was held
for a time with some difficulty Outside
business was light. The believers in higher
priced wheat got a good deal of encourage
ment from the steady decrease in the interior
deliveries as pretty sure indication that the
visible has about reached the turning point
However, Bradstreet's reported an increase
in The available supply last week of 2,774.U00
bu east of the Rockies and $50. QI0 bu lcrease
on the Pacific coast. a total increase of 3, 6}p,
0O bu. The market opened l8c up and
closed steady within lse of the top for the
day
Corn was influenced chiefly by the better
feeling in wheat and The liberal covering by
shorts. The receipts were shout IS cars more
than estimated, but had little effect on val
session. On the hard spots there was some
short selling, which checked the advancing
tendency temporarily, but there was sharp
general demand during the last hour and
little for sale. At the opening room
traders and prominent local professional
were selling quite freely. which caused prices
to ease off slightly. but at the decline the
demand improved, ana on buying by a com
mission concern. said to be to cover shorts,
the price was advanced SS0lIac, The bulge
free
Later, however. the buying was more pro-
nounced. and the market bulged to top
figures OF the day. The market changed
some. ruled firm and closed with $50; 1sc
gain. The near deliveries were relatively
easier than the rest of the list
Oats were quiet but firm. The local re-
ceipts were only 12S cars. and the market also
felt the effect of the firmneSs i'll the other
pits. An advance of 5s0$4c was recorded
and last sales were at the outside figures.
Hog products were strong and higher. The
offerings were light. and, with a good de-
mand. prices were early advanced. Among
the prominent buyers were Allerton. Nor
ton, Worthington, Weber, Anglo and orr
Prices closed near the top of the days range
and. compared with last nights figures. show
II L2c advance for pork, 1@12c for ribs, and
1I2c for lard.
A very pretty fight is apparently on in the
provision market between the large packers
of hog products and the clique of spectators
who ran the October corner III ribs The
clio ne. in order to carry their deal through
without break. were forced to take large
quantities of product during the closing
days of the deal from the packers who
loaded the clique up at fancy prices with
all the stuff they could scrape toge Their.
The result WAS large accumulation of old
product in the hands of the clique. Cudahy
and his associates have been persistent bulls
of late. apparently for the purpose Of
strengthening prices, SO as to permit the I'M
loading of old product, while the big packers
have been decidedly bearish Armour an
nounces himself EN- phatically as bear. He
said
II would no more touch the product at
these prices than would rattlesnake We
are killing good many hogs. All Of them
are going into consumption as fresh meats;
not one of them is being cured and put i'll the
cellar. There is general sentiment that
hog product at this range is not safe. And
sentiment has wonderful lot 10 do with de-
Gliding things and it certainly is the fact that
consumers are ealing up the old pork and the
old meats at the low price, rather than the
new meats at the high price
The high price of products has appar-
emily had its effect on hog receipts this week,
the receipts for the first half being nearly
double the number recorded last week, the
totals being 95.S57, as against 5l,067. The
large receipts tend to strengthen the position
of the big packers who are endeavoring to
weaken the hold of Cudahy aud his follow
ers on the market.
FreighIs were slow and rates remained
steady at 2s4c for wheat and 212c for corn to
Buffalo. Estimated receipts for tomorro
Wheat, 10 cars; corn, 132 cars; oats, 13S cars;
hogs, $1,000 head.
The leading futures ranged as follows: