St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-30
News From Washington Put
Life Into the Trading at
Chicago.
Hateh's Anticipation Measure
Will Not Affect Deals on
Change.
offerings Were Meager and
an Upward Rally Was the
Result.
A Tendency to Still Smaller
Volume Of Business at
New York.

CHICAGO, March 20 The strings tying
down the wheat market wererptioose from
Washington today. AS a result, big round
cent for every bushel was added to the price
of the cereal almost in jiffy. The an
nouncement made by w. Fl. Hatch in tele-
gram from Washington that the proposed
anti option measure would not obstruct or
prevent a single transaction now authorized
by the board had the effect of lifting May
delivery to 80c. Last night the closing figure
was roc exactly
There was little in the situation early to
lead to strength Cables were weak, ana all
represented the European markets as much
depressed, and quotations came decidedly
lower. Private dispatches from Paris gave O
gloomp picture of the market there,
and it was regarded as certain
that duties on imports would be fully
restored on June !. The weather continued
exceptionally favorable and was regarded as
a bear factor while the export business was
not very encouraging. But there was de-
mand to cover shorts, and prices started in q
shade above yesterdays close or at 793Bc for
May. Then some buIlish news came in from
outside markets were somewhat higher, the
amount of wheat and flour on ocean passage
showed decrease of 1.3l2,00) blu, and the
expected
These reports rather increased the demand,
and the Offering being rather meager, there
was a gradual rally to 797sc. but the price
quickly weakened as it was found that a
good deal of wheat came out at the advance,
Cutler selling, presumably for Partridge.
This sent the price up to 79I2c, and
while the market held i'll sluggish
uncertain condition, Kline mace public
two dispatches from Washington saying that
fhn / rrNtin hahn nr,si6 in,
the committee and sundry amendments
adopted which, if passed, would not affect a
single transaction now authorized by the
Chicago board of trade: the result was that
new life was infns into the trade. and
there was quick development Of strength,
May soon touching sec.
During the last hour the market became
very weak ON the receipt of lower cables and
free selling, drawn out by the advance. and
Nav sold off near the close to 79Ac but re-
acted, and closed firm at 7J5s079S4c.
Corn was more active and recovered al
most entirely from yesterdays weakness. the
result being largely due to the reaction in
wheat. Shorts showed considerable nerv-
BUSINESS, and there was Il movement to cover.
The local receipts were smaller than ex-
pected and the inspection still very satisfac-
tory. Poole Sherman and the Wear Commits
sion company were the principal buyers, and
were thought to be aching for Cudahy. May
opened at 40c and kept firm until near the
close it reacted to 40Ac, at which price it
closed firm.
Oats were quiet and firm, governed largely
by the better feeling i'll foreign markets.
There was firm feeling in the provision
market and better prices ruled, but the ada
vance established at the close was not heavy.
Pork for May is 712c higher. May lard is
unchanged, and ribs are up 2l9c. M. G.
Mitchell bought pork early. supposed to be
for Ream. and Ryan was the principal seller.
Packers claim that there is loss of 81 per
barrel making pork at its present price, and
that hogs are at the same price now as when
ribs were selling for ST. 3d. The difference
between May and July pork is no narrower
than 11I2c. Y
The estimated receipts for tomorrow are
Wheat, 40 cars; corn, 261 cars; oats, 140 cars;
hogs, 10000 head. AAtsl -
The leading futures ranged as tollows: 6