St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-06
The PUBLIC NOT IN IT
A Declining Market at Chi
cago Left to the Pro-
fessionals.
Holiday Dizziness Prevails,
and Grain Pits Quiet and
Neglected.
Fractional Raises in Cereals
on Local Trading Almost
Entirely.
On
Prices Held Up Well Despite
a Reactionary Temper
in New York.

CHICAGO, Jan. 5.-The holiday dullness
which of late has marked the course of bust
ness in about everything dealt in on the
board OF trade, was continued today. There
was not much news to create decided opin-
ions either for or against higher prices: val
ues have been going downward for some
time, and, as usual on a declining market
the outside public has lost interest, and has
drawn out of the dealings AS consequence,
the trading today and for some time was and
has been almost entirely of a local profess
sional character. Commission houses find
themselves without orders, and their buyers
stand l1stlessly about with nothing to do.
The pits during much OF the time today,
instead of being as usual crowded and up
roarious oratorical storm centers were quiet
and peaceful valleys, through which one
might wander in meditation undisturbed and
unobstructed. In wheat weakness accom-
panied the early dizziness, and lower cures
were recorded Nearly all the news Of the
forenoon was discouraging to holders Ca
bles were weak aud lower; domestic markets
dull and tending downward, and the local
feeling bearish.
Holders seemed discouraged. and the liqui-
dation was general. Some of the large op-
er ators who bought wheat yesterday on the
theory that a reason might be calculated
their mistake, and made haste to get rid of
their purchases.
Harry Lester, who was n good buyer yester-
day, was one of these and during the first
two hours OF change was thought to have
sold at least half million bushels mostly
taken on yesterday.
Later he gave up the name of P D. Armour
as his principal. Partridge covered a con-
siderable line of shorts on the way down.
May opened unchanged at 04asc, and slowly
sagged off to 937sc. Then the character of
the news and the temper Of the pit began TO
change.
dispatch from New York said that there
was good buying for export there and that
private advices from Paris stated the
ing, though public cables did not
bear this out, quoting the market
lower. Encouragement came later from do
nestle sources. the chief Of which was the
prospect held out by the Eastern railroads
that in day or two they expected to be able
TO handle everything offered to them. AS
many interior millers had orders here wait
Ing the resumption of railroad traffic the re-
suit was lively cash wheat business and
many fresh orders were received to take ad-
vantage of the improved shipping prospects
Prices advanced sharply toward the close
and closed at about the top. About the only
bull factor was the reported decrease of
nearly 100000 bushels in the amount on
; passage, but this was offset by dispatch
that the English visible supply increased
about 1000, 900 bushels last week
Corn was stronger. The receipts were lib
eral, but the grading was very poor indeed
only eight carloads outs0f 326 going to con-
tract. The break yesterday started a good
IDEAL Of covering by shorts, and. as longs had
lpretty we'll iiquidated yesterday there was
mot much for SALE and prices hardened ad-
svancing slowly all day and closing at the top,
making gain over yesterday OF sS05sc Oats
swere also decidedly stronger, recording an
advance OF 5S0lc.
Hog products opened weak and lower on
account OF The heavy receipts of live hogs at
the leading packing centers and the lower
prices for live hogs here. Later part of this
was recovered. and the close shows no marked
changes from yesterdays last figures.
Estimated receipts for tomorrow: Wheat,
1O9 cars; corn, 139 cars; oats, 145 cars; hogs,
$4,000.
The leading futures ranged as follows.