St. Paul daily globe., 1892-11-21
BULGES AND SLUMPS
Followed Each Other Rapidly
in Provisions on Chicago
Change.
II.
General Impression That the
Bull Clique Was Working
81 to Get Out.
Wheat Was Weak, Closing at
About the Days Lowest
Prices.

CHfcAGo, Nov. 19-Rapid bulges and
slumps succeeded each other, causing gen.
eral impression that the bull clique in provi-
sions was working sentiment to drive out
their holdings OH. Very little change from
yesterdays closing prices resulted in the
end The wheat and corn markets were
easier on heavy receipts in the Northwest
and selling orders from there. December
wheat is off s4c and May SEC. Corn is un-
changed for November and December, but
about l4c lower for May.
The provision market was the focus for
many of the scalping crowd from the grain
pits, who found that hog products afforded
better opportunities than their usual spe-
cialties The market opened easier under
the influence of rather heavier hog receipts
than had been looked for, but on John Cuda-
by appearing as a ready buyer of January
pork and lard. there was a sudden change,
and prices began to work upward. On the
call the feature was the free selling OF jan
uary lard by Cudaay, who disposed of about
1000 tierces at $3.50 i'll such lots as were
wanted. Counselman and Day were good
sellers of January ribs early in the session.
The operations of the bull clique were con-
fusing to the operators. Cudahv was at one
time a buyer and at another a seller, while
Wright was dropping chunks of produce on
the market every time il became radically
bullish. Fluctuations were very frequent
and over wide range, both in pork and
lard. Pork gained PC over the opening price
for January and dropped sc from its highest
point without giving sellers a chance TO dis
pose Of much on the decliue. 1t very easily
again recovered SOC from the last named
break without the buying of any great guam
tity. January lard was equally erratic. open
ing off 7l2c, then advancing 25c, declining
3tc and jumping 20c again from the low
point. Ribs were nervous also, but fluctuated
over narrower range.
While the first sales of wheat were al about
the closing figures of last night the market
turned weak and continued so. closing about
at the bottom for the day. The arrivals in
the Northwest were heavy, having been
nearly 1000 cars for two days, and Minneap-
while communication with this city and
other markets was cut off. Another reason
for the weakness was the fact that the bulk
OF the short interest was covered yesterday
ana the bullish influence of that demand
was therefore eliminated. Lucky longs were
taking advantage of the bulge to realize
and short sellers were as active. The eX-
ports for the week, as reported by Brad
streets, would have been more encouraging.
perhaps, were it not that the same authority
estimates the available supply at 90 S31, 10, bu.
Leopold Bloom is said to have dumped his
holdings as soon as the market opened.
The feature of the corn market was a de-
mand for December corn, which infused
more spirit INTO the trades. w. L. Harvey, IL
was understood, had arranged with the ele-
vator companies to carry corn from Decem-
Der to May Tor less than the prevailing spread
between those monLhs and Immediately be-
gan buying the December and selling the
May 10 avail himself of the assured profit ne
knew of. His action reduced the spread
somewhat
There was hardly anything done in oats
barely enough to cause q range os 14c in the
price OF the active future
EroT krE,s ~, r,yu
for vessel room at 2l2c for wheat and 2L2c Tor
corn to Buffolo. Estimated receipts for
Monday-Wheat 22e cars; corn, 2i0 cars;
oats, 165 cars; hogs. 81 ,00J.