St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-26
Gain Of a Cent and a Half
Over the Low Prices Of
Thursday.
Partridge Sold a Million to
Depress Prices, But Failed
in the Effort.
Losses Noted in Most Of the
Stocks Traded in at New
York.
Dun's Review Of Trade Re.
ports the Outlook Uneer-
tain at Present.

CHICAGO. March 25.-Ballooning was the
word today in the wheat pit Tonight the
price was soaring majestically cent and
half over the midget figures of last night.
Partridge tried hard to keep the price from
getting above slice. Around that it was esti-
mated. he sold fully 100000 bushels but the
market jumped skyward while his brokers
had still both hands up offering the stuff.
The strength was largely due to late Liver
pool cables. big buying by Cudahy, and re-
ports that Germany and Russia were getting
more involved. Shorts became excited. and
there was a sudden bulge in the last few
minutes to S2sBc, the closing being buoyant
at S2Ac
A good deal of att ention was drawn the
fact that Boyden & Co. paid MAY prices to-
day for rs, 000 bushels of straight No. 2 Chi
cago spring for export and for another lot
of No. 2 Chicago spring in special elevator
a premium of 1t2c was bid by another buyer
and refused by the owners.
There was good deal of interest in wheat
at the opening and prices were higher The
early cables quoted Liverpool led higher.
and all domestic markets opened strong with
an advancing tendency. The big decline
which has taken place during the last few
days caused good deal of covering by shorts
who had good profit and were disposed 10
a
scalp on the long side on the reaction theory.
The opening sales for May showed an ad-
vance of L2c from last nights close. and for q
short time the feeling was strong. aud the
market quickly went to s15sc; New York was
good buyer. Cottrell taking about half a
million in one lot from Partridge, and the
local demand was also quite sharp for Il
short time,
But the fine weather. the absence of any
sensational crop damage reports, the light
fro Nnx Vf.rt mil X nf
wheat the unfayorable private cables, and
the free selling by Partridge soon under
mined the market ard the strength disap-
peared. May gradually losing lie, aud selling
off to S09Sc. 1t was from this point during
the last hour that the remarkable upturn oc-
Cured.
Corn started strong with buying led by
Cudahy. Shorts covered freely, while the
buying for long account was generous. May
opened Sac higher and touched 39S4c But
the advance led to free selling, and the buy
ing orders having been filled on the early
rush, there was quick drop to 39lsc. The
break in wheat about the same time was also
a weak factor
With the subsequent advance in wheat the
price for corn picked up, and a few mo-
ments before the close was 3934@397sc.
There was considerable caustic comment on
what was alleged to be suspiciousy finicky
inspection, resulting in the continued small
proportion of the speculative grade
orders was noted. 1t was said that elevator
men at 2Ac under May were taking the
chance of the price of No. 2 and No. 3 COM
ing closer together and were buying the lat
ter and hedging by selling May.
In oats there was not as much demand
from shorts as for several days past. Offer
ings were also moderate. and steady feeling
prevailed.
The condition of the provision market was
summed up by a leading operator in one
word-staguation. Mainly i'll sympathy with
wheat the feeling was firm. Notwithstanding
the dizziness. and the closing was about the
outside prices Of the day.
Estimated receipts for tomorrow: Wheat,
22O cars; corn, 440 cars; OATS 215 cars; hogs,
5000
The leading futures ranged as follows: