St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-07
Hog Products Led the Upward
Movement on Chicago
Change.
The Morning Reports Caused
Shorts in Wheat to Buy
Freely.
Armour Is Reported to Have,
Purchased Three Million
Bushels.
An Active Market, With In
significant Changes, on
Wall Street.

CHICAGO. Jan. 6.-The speculative markets
were all bullish today. with hog products
leading the upward movement Armour,
who openly sold abouH 100000 bu of wheat
yesterday, is reported to have bought quietly
yesterday and today about j, 100000 bu. There
was no change to speak OF in the relative
positions Of bulls and bears in the wheat
market when trading commenced this morn
ing, but in the course of the forenoon sew
eral items of news which came 10 hand re-
ceived bullish Interpretation, and created q
good demand from the shorts. The early
cables were more encouraging to holders
and some of those dispatches acknowledge
the improvement in English markets to be
due to advices from here This consid-
GRAFTON taken together with the fact of
European stocks now becoming reduced is
beginning to weigh with the spectators and
has created change of sentiment in this
market. Very cold weather was reported in
the West and extending gradually over the
winter wheat belt, and the deliveries in the
Northwest were light, with the local receipts
also very small. only 103 cars. The strength
in pork was felt alphabetically in the wheat
pit also.
These things did not make their effect APP
parent, and sellers by New Workers and st.
Louisans on reports that the plant in the
winter wheat region was protected by snow,
caused weakness for time; but the tide
finally turned when later cables came in
strong and it was reported that winter wheat
was not i'll condition 10 stand much cold
weather and decided advance was the re-
suit.
Partridge was the most liberal and agrees
i've short seller. and for time fed the crowd
freely, but finally showed more reserve and
considerable caution. Shorts were the prin
cipal buyers, although there was some III
vestment demand as well. Bradstreets re-
last week of 1.595,000 bushels east of the
Rockies, aud decrease OH the Pacific slope
OF $4,000, leaving the net increase lob, 900
bushels. Logan, whose buying started the
market yesterday, was again a big burer to-
day. Ed Bangs bought one lot of 25D, $50
bushels, supposed to be for Linn. Msy
opened Ssc lower at 9478c, touched CSC. weak
ened TO 9lssc, advanced to 96c, and closed at
9Js4c.
There was fair amount of activity in the
corn pit, and although there was spell OF
heavlness near the opening, the tendency
during the greater part of the day was in
favor of holders. The receipts were consid-
erably over Yesterdays estimates which
caused the weakness at the start, but as only
two cars of the 1S1 inspected into store were
up to the contract standard, there was Moth
ing especially inviting in the figures named
for short selling. The strength OF the wheat
market was help to the corn bulls and what
is called the old bull clique-Bartlett-F Frazier,
Patton Bros and few others-appeared to
ridge was said to be selling moderately. May
started unchanged at 4issc, weakened to
4lSsc, then advanced to and closed at 417sc
Oats were quiet but firm, and show a gain
of 4@sSc.
The provision market led the days bull
procession. and that in the face of the hog
receipts being even heavier than was pre-
dicted yesterday. There were good many
buying orders in the hands of commission
merchants, and packers were also helping
the.advance. First prices were the lowest OF
the day, and the market was near the nigh
est point at the close. There were some
minor reactions during the session, but each
successive advance carried prices higher
One strong feature was the bidding between
packers and shippers for the receipts of live
hogs. The shipments of hogs 10 the East
from here during the past few days has
ranged from $4,000 to 1900 per day. These
are for consumption as fresh meat, and the
demand here indicates that the supply east
of here is becoming exhausted. This is q
month earlier than usual. Estimated re-
ceipts for tomorrow. Wheat 145 cars; corn,
us cars; oats, 148 cars; ogs, $4,000 head.
The leading futures ranged as follows: