St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-19
LOST The ADVANCE.
Wheat Opened Strong and in
a Rising Humor on Chi
eago Change,
But, After a Gain of One Cent,
Fell Off to Saturdays
Price.
Corn and Oats Dull, but Hog
Products Wera Active and
Much Higher.
Activity on New York Stock
Market, but Strength Is
Lacking.

CHICAGO. Jan. 1S.-Wheat opened more
active, strong and higher this morning, but
after scoring an advance of 1c sentiment
changed in the pit and the close shows the
appreciation wiped out and prices unchanged
from the closing figures of saturday. The
early news was nearly all buliish. The strong
factors were the light receipts everywhere.
the strong and higher cables. the very cold
weather in the Southwest and the heavy de-
crease in the visible supply. There was but
little wheat for sale in the early trading. and
as the short interest was large and Il general
desire to cover seemed prevalent, the market
assumed strong tone at the start and held il
most of the day.
Domestic markets were all advancing, and
good many operators who have been hold
ing off, waiting for the turn seemed TO think
thatit had come and were good buyers. while
frightened shorts were making haste to
cover. The strength exhibited held even the
chronic bears in check for time, and there
was very little pressure from that interest.
Partridge sold some early around 9ila69ls4c.
but soon grew more conservative and covered
the most of ii soon after putting il out.
Logan. Mitchell. Clifford and CounSelman Il
Day were among The most liberal individual
buyers, though Schwartz Dupee and most of
the priyate-Nire houses also bought freely.
largely on New York orders. Geddes and
some OF the other houses with foreign con-
nectionS sold moderately on The advance.
During the last hour. without apparently
sufficient reason. the market turned very
weak The crowd had bought freely on the
upturn, expecting the boom TO continue. but
when there were indications of malt in the
upward movement and closing Liverpool
cables came weaker, confidence was under
mined and selling became urgent. May
opened al glssc and sold up without any con-
siderable reaction 10 9sc, then turned about
and without reaction sold down TO and closed
easy at 9114c, the price al which it left off OH
Saturday.
The trade in corn was light and the price
changes insignificant. The speculative inter
est of the day centered chiefly i'll the wheat
and provision pits. Corn was firm. however.
on the poor grading of the receipts and the
widespread snow storm, which will tend to
keep the grading low. The close shows an
advance of isc, with fluctuations confined to
&c range.
Oats were dull. steady and featureless.
Hog products were active and higher. The
receipts OF live hogs were below the estimate
and prices at the yards were excited and 1Cl
15e higher. This, with the strength in wheat.
gave the product market strong start. The
tendency throughout the session was up
wards though there were some sharp breaks
caused by shorts raidlng the market under
the lead of Partridge. Late in the session
the estimates for tomorrow were for only
$4,000 head of hogs, and prices of the product
advanced again and closed firm at the top.
Pork was especially affected, and closed
Sith an advance of 3-l2c.
lie leading futures ranged as follows: