St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-09
The Bulls Sweep Everything
Before Them on Chicago
Change.
Wheat Moves Upward Stead
lily and Closes Over a
- Cent Higher.
News Concerning Damage to
% Corn Sends That Cereal
Up Three Cents.
Agitation on the Silver Cues
ton Affecting Stock I'm
favOrably.

CHICAGO, Aug S.-A big, broad, old fash
Toned bull market. with the bears sweltering
and roaring i'll their unhappy predicament.
was witnessed today for the first time in
many months. Wheat at the close, compared
with It's price at the corresponding time Satur
day, was 4c higher, corn was sc up, oats
showed Ac advance pork sc, lard 15c and
ribs l2I2c.
The days advance got we'll under way as
soon as the season commenced. Corn. oats
and provisions We'd with each other in bull
ish activity, and opening prices were imme-
diately added to an excited way
The news concerning the damage to Kan
sas corn influenced the entire trade. Oats
ana provisions more especially svmpathized
IN the news affecting corn. but the advance
IN all these articles was too material to allow
OF wheat being unaffected. There was. be-
SIDES. some news of bu:lish nature directly
ahectlng wheat, Liverpool being quoted
opening firm and led higher. owing to cold
wet weather in England, and New YORK
messages said that they were receiving more
foreign buying orders there and at better
prices. The export ciearances from New
York were liberal, and were one OF the slim
ulantS administered to the market shortly
after the opening. Then there were advices
from the Northwest OF damage by hot, dry
weather in some places and of damage TO
unreaped and reaped grain in others by Sc
we're rain storms. On the other hand re-
celpts at primary points were liberal; the
ILLINOIS state crop report estimated the sea-
sons yield at "a, 22i go bu, against 27.459 900
as suggested by the last government report
ana compared with 33,0N,0 D bu last year.
The visible supply statement showed an in
crease OF 2.0Si.000 bu The last beaIish items
with realizing sales by longs, were RESPONSE
Die Tor one or two weak spots during The day.
September opened Isc up at 1SI2c ad-
vanced slowly to 7S7Sc. declined to the open-
ing price, rallied to 79I4c, reacted to 7Ss4c.
SOLO up amid considerable excitement to Sc
and closed strong at 7s5sc.
The corn market opened excited and ir-
regular at from sc % 5.l2c for September
Ihe early excitement was varied chiefly dur
ing the day by frequent bursts of the same
klnu or OF even more intensity. Kansas sup
pEed the news which so worked up the
shorts. If the reports received from there
today prove correct-and they appeared to
he unanimous as to the heavy damage being
done-there was good re. son for the scare
among The shorts Firing scorching burn
ing-up hot winds were the expressions con-
corning the Kansas corn crop which were
heard around the corn pit as the price, from
a comparatively moderate jump of Sac at the
start, rose i'll bounds until it was sac higher
than Its closing price SATURDAY..
In the middle OF the advance report from
Springfield, ILL.,. giving the condition of corn
on Aug. for this state "a ST. compared with
% on July |. created Il short lived diversion
III FAVOR OF bears. September. which previous
opening to 53i4c. tumbled back on the i'm
proved condition as reported above A later
ana correct version of the Illinois state re-
port making the present condition H. instead
or 81, as at first reported, caught most of
traders short who had sold on the first err
roneous Illinois report The greatest excite
ment of the day followed the correction re-
ierred TO. 1t was simply impossible to fill
buying orders for the time. Prices mounted
quickly from around &c to SIC and between
touched q Nd
lime of its reaching 51lSc, OF 1lsc advance,
less than ten minutes interviewed. The clos
Ing price was 541sc. or within 4c OF the eX-
temiiy of the bulge
- oats We're nervous and materially higher
through sympathy with corn. Fluctuations
were frequent. and covered Il range of lac.
Prices were also affected by reports OF crop
damage. The high price or the day was
made near the cluse.
The provision market opened 10c higher
for po- k, also 12l2c for lard and sc for ribs
impaired with Saturdays closing quota
uouS. ana after many fluctuations made
further considerable advances.
There was steady and heavy realizing by
the bull clique, but the whole army of
sh0rts, both foreign and domestic, seemed
TO be III Stale of panic, and grabbed nerv-
-ously for the offerings. The bulls therefore
found unloading at heavy profit an easy
matter; in fact, the shorts took no thought of
who was doing the selling; their concern
was in finding some one who was willing to
let go. The small receipts of hos. only
1000 being reported from the yards and
damage to the Kansas corn were. of cour. e..
strong adjuncts TO the otherwise powerful
leverage of the bulls and did much 10 uu-
hinge the minds of the bears
Lake freightS were firm on the basis of 81, c
for corn 10 Buffalo
Estimated Receipts for Tomorrow-Wheat.
SoJ cars; corn 540 cars; oats, 3l3 cars; hogs
1900.
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