St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-06
The Leading Pork Product
Goes Into the Clouds on
Chicago Change.
Armour Said to Be in q Posi-
ton to Squeeze His
Enemies.
Pork and Ribs Slide Upward
oi in Sympathy With
Lard.
Disposition to Close Out in
Wheat--NeW York Stock
Market.

CHICAGO, Aug. 5.-A jump Of 35c in the
price of lard was the sensation today on
change. There were rumors that Armour
was III position to squeeze shor: sellers in
the product and very nervous feeling ruled.
Pork and ribs participated in the advance.
In the other pits realizing sales by the bulls
caused decline, and wheat corn and oats
each closed ssc lower than last night The
twistgl"en the lard market was one that will
be remembered for some time. Coming on
top OF the big advance all around yesterday
and against the influence of an easier corn
market, the remarkable action resulted in
decidedly strained conditions lard having
been Tor months the most immovable art
icle on the list Pork made an ad-
vance of PC from the opening price.
Ribs, after selling back &C. went up I2lac
While other products opened slightly easier,
lard was up 2l2c for September and went I'D
DC more the first hour Then RYAN and
others bought some October stuff, and started
the shorts after the September lard Com
mission houses also had to stop orders.
These lifted the market still more. The
holders OF lard were serene, and the Septem-
Der rice after climbing to S7.75 jumped to
- SO with scarcely a trade. and On up to
>! w. at the high point, &c over the close
THURSDAY, closing arounu 81. saI2. 1t is
u.
with light stocks still higher prices may be
easily made
Whsat was unsettled early, the strength in
corn and outs having collapsed, and, as there
was no OUTSIDE support. the local crowd who
bought yesterday on the late advance eX-
n blted disposition to close out The
southwest were also free sellers, and under
these influences the market eased off The
volume OF trading was moderate. The OPEN
ing prices were at Yesterday closing figures
and the market gradually declined about l2c
closing Weak
In the corn pit, the bail CLIQUE. headed by
Bryant. Congdon and Fowler took corn as
fast rs offered. Baldwin and Farnum. Bow
crowd sold very freely
The market weakened, but did not break.
Kansas City and 81. Louis sent crop-scare
dispatches. OHsetting these were certain
railroad reports saying no serious damage,
and Wall street held stocks of corn roads
firm at an advance.
The oat market was compare lively unin-
te1estlng with options weakening soon after
the opening of the session. The advance of
&C this week was regarded as sufficient tor
the present, lnaSmUch as the cash market did
not sylnpatnize as readily 10 the influence of
the crop reports as the futures did. There
was good realizing by parties who bought
freely on yesterday. The country also sent
Ill fair selling orders for May.
Freighls: the offerings of vessel room
were light. A fair demand existed, frmer
feeling prevailed and rates were advanced
44D-I2c for wheat TO Buffalo and .14c for
corn Estimated receipts for tomorrow:
W heat so cars; corn 4I3 cars: oats, 10 cars :;
hogs. 10000 head
The leading futures ranged as follows: