St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-10-25
BOUND TO ADVANCE.
The Immense Increase Of Vis-
ible Wheat Did Not Keep
Prices Down.
A Lsrge Demand for That
Cereal Shpved Prices
IL IS Half a Cent.
Profit Grabbing by Bulls Pre-
81 vented an Advance in
4 s1ii Provisions.
Stocks Baoyant and Higher,
aol With Unusually Heavy
IS Transactions.

CHICAGO, Oct Notwithstanding the
biggest increase in the visible supply of
wheat ever known i'll one week, the price
today gained 12c. Corn advanced full
cent and more in the face of the failure of
one of the best known firms in the trade
Provisions, too were strong, but much profit
grabbing by the bulls kept the quotations
down at the close to above Saturday nights
figures.
The conditions were in the main far from
bullish in wheat. Cables were lower, the
local receipts about 800 cars above the esti-
mate-owing to liberal Sunday inspection.
and the weather Was rainy, just what it has
been claimed the fall sown wheat needed
But it was argued that the wet
weather would cut Off receipts and
there was pretty free coy ering on the break
which took place Saturday as we'll as rather
generous Investment buying Another
strengthening factor was the contradiction
of the reported big failure in Paris SATURDAY.
Mitchell. Logan, Linn. Brosseau aud others
were good buyers. with Partridge and Boy
den leading the selling The market weak
ened some during the last hour. mainly on
the big increase in the visible, but the close
was within 1s94c of the top for the day.
The opening was about lac better than Satur-
days closing and ruled firm, and prices were
advanced Ss4l2c more. then became easier.
and prices settled back l2c. held steady and
the closing was about Ss@l2c higher than
Saturday.
Corn was fairly active and strong through
out most of the session. The weathar was a
considerable factor, as it was argued that
the rain would cut off receipts. and the firm
feeling which ruled in the other pits also
helped. The receipts were much larger than
expected. but as this was due to Sunday in
spection it had but little effect Shorts were
good buyers, and there was some Investment
demand. Coon & Co.'S failure seemed a
nullity, owing, it is said, to the general be-
lief that when it occurred they were even in
the pit. Reports from the country were
mostly to the effect that the husking was
very disappointing. both as to quantity and
quality. Initial trades were at 1s@ssc ad-
vance, and. on covering by November
shorts the price jumped up a full 1c, the
other futures sympathiZing but not to the
same extent On realizing the market
worked back 5s0D34c. the action of wheat and
prospects of liberia. increase in the visible
assisting the break The market asterward
rallied ss0S4c on the smaller estimated re-
celpts for tomorrow. changed some. ruled
hrm and closed with l@iAc gain for the day.
Wet weather and the strength in corn were
sufficient to scare some of the oats shorts into
covering. May opened SS@5sc higher. and
was quite excited for a short time. Much of
the business done consisted of changing No
vember to December at 7sc difference. Eff
forts that proved futile were made to change
October to November at l9c difference. The
close was at q net gain of I2@Js4c.
The provision market opened strong and
higher, and the advance was well maintained
for while. Wright and Cudahy kept testing
the strength of the market from time to time
during the forenoon by offering moderate
qualities of pork. lard and ribs, and,
judging from their subsequent proceed
ings, they appear to have concluded
that it was strong enough to absorb more
staff without producing Generalization.
They sold freely. Wright sold 2.01c,U
lbs, of ribs: it was said Cudahy filled up the
buvers of lard. and Steever let them have
all the January pork they wanted. The later
increased selling knocked off a considerable
portion of the early gain in pork and lard
and all of it in ribs
Freights were slow, with ample offerings
of vessel room at 24c for wheat. and &c for
corn, to Buffalo. Estimated receipts for to-
morrow: Wheat. 5i5 cars; corn, 40G cars;
oats, 200 cars; hogs. 1900 head
The leading futures ranged as follows: