St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-10-18
BIG ADVANCE IN RIBS.

Chicago. Oct 1.-THE big stained glass
ceiling on change seemed in imminent dan
ger today from the combined dashing up OF
prices Short ribs MADE leap OF 62l2c, pork
zoe and lard 35c Oats closed with gain OF
of sc to 1Isc; corn is up 12c to S4c and wheat
ssc.
The provision market opened strong on
the small receipts of hogs and the good de-
mand for them reported from the yards
John Cudahy Il Co. were the best buyers OF
.,anuar; pork at the start but later i'll the
day everybody appeared TO want it. r. W.
Durham was good buyer. Baldwin, ar
mum book good deal, and there appeared
to be numerous buying orders in the hands
of commission houses generally. Hately
Bros. were heavy buyers OF lard or would
have been if offerings had been more liberal
They got fair quantity. however, and it was
said their purchases were for account OF
Fairbanks. Schwartz Dupee and McCor
mick took between 2.50o.000 and 100000
pounds of January ribs. There was no hest
tation on the buying side, and prices gath
cred strength as the session progressed.
Closing prices are at the top OF the days
range.
II has been the general belief here that the
receipts i'll the Northwest would let up, but
instead the arrivals. If anything are larger
II.
and extraordinarily heavy receipts locally.
wheat here opened quite firm at the price 1t
closed at on saturday or a little better. ! he
firmneSS too. was in the face OF the facts That
the Liverpool market was easier ana that III
dia shipped 341, 90 bushels last week against
only 60 90 bushels on the week preceding.
On the other han d. Beerbohms early cable
gram quoted cargoes OF California ana rcd
winter firmer and held higher. London sent
higher quotations for silver, which necessa-
rlly makes Indian wheat cost the foreign
purchaser more money. and therefore tends
tofurther curtai shipments from that coun-
try. Reports. too, showed that u large area
of the winter wheat belt here was still in
need of rain. he market became very dull
after half an houl of moderately active trad
ing and the crowd turned their attention 10
the blackboard wherein the changes In the
visible supply were being posted.
ON the publication of an increase of 3,S3f.-
Geo bushels The market slumped off. but the
effect the large increase was quickly over
come by the receipt of the closing cables
quoting advances at London, Paris and Ber-
lin. and the market on that news became
quite strong. making the best prices of the
day toward the close. From thu unchanged
prices at the opening the market advanced
l4c then eased off Ssc, and finally advanced
t2c.
Corn opened strong, with receivers the
best buyers The receipts were 80 cars,
where only $50 had been expected, but as
there was sunday inspection of six import
ant roads they fell below what might have
teen expected. a good many report were
in from the country that the quality of the
crop was almost sure 10 prove very inferior,
ard there was less disposition to short the
market and considerable covering. Sibley,
Boyden and Bartlett-FraZer were good buy
ers. and prices gradually went up. but they
had some reaction. mainly Oh free selling by
Logan and Schwartz Dupee, supposed to be
on ST. Louis orders. The visible supply fig
ures, added to the temporary downward
trend until the rally in wheat, caused alarm
amone the shorIs and resulted in another
advance to near the best prices of the DAY.
The oats traders today experienced as act
i've session as they have had for months.
The market ruling extremely strong from the
very start The buying orders were heavier
than on any previous day this month. while
The shorts, led by Sibley. and Partridge and
Leeming took up large quantities. New
York also bought quite freely The market
weakened somewhat after the early business
had been transacted but renewed buying by
The shorts during the last half hour of the
session firmed up prices considerably and
The close was made at the high points of The
day. The occasion for the furry seemed to
be the light receipts. the arrivals for two
whereas the estimates called for 40 cars.
The fact that the offerings were moderate
assisted the advance very materially.
for vessel room at .12c for wheat and 24c
tomorrow: Wheat, Go cars; corn, 100 cars:
oats. 515 cars; hogs, 1S,00O
The leading futures range as follows: