St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-15
PRICES TAKE A RISE.
The Weakness in Markets at
Chicago Gives Way Before
a Reaction.
Favorable Cable Reports In
fluenced the Tendency to
Better Prices.
Everything Traded in Feels
the Effect of the Encour-
aging News.
Dealings at New York Are Of
a Holiday and Profess
sional Kind.

CHICAGO, Aug. 13.-The weakness which
has been the conspicuous feature of the mar
kets had disappeared at the opening today,
ano, as the result of the day S trading, every
thing dealt in on the board of trade is higher
than at the close yesterday. This fact is due
in part to natural reaction from the recent
declines, and in part to the news of the day.
Trading. however. was generally light.
Wheat exhibited a conspicuous undertone
of strength, considering the volume of trad
ing which was small. This undertone was
supported by the improvement manifested in
the cables. liberal exports from both coasts.
The publish purport of Beeroohm's esti-
mate of the worlds wheat crop, the re-
ceipts here being under the estimates. and
reported heavy cold rains in certain
sections of the Northwest. The opening sales
exhibited an improvement Of Lc over yes
terday's closing prices. and the fluctuations
during the whole of the session were con-
fined to l2c rarge, the market closing with
gaiu of l2c.
There were some sales at the opening at
77S4c for September, but at the same time
there were buyers at 1Sc, ana q goOu Zeal
changed hands at the latter and very little at
the former price al the time referred to. Inc
price held for matter OF half an hour at lec
or better, and then took q dip to 1's4c. after
which it remained for long time at U1sc
Win very llttle OftereQ sale duO iusl DIS
little wanted, closing firm at 1Sc.
The corn market was very firm at the open
ing, September touching 53c in the first rush
to fill the early orders. There were sales lat
the same time at 52s4c, but 525sc and SIC were
more generally current at the opening. Inc
latter price was also the closing quotation.
but it was being offered at that. There was
an interval OF considerable weakness de-
veloped about half an hour from the start
during which there was drop to 52ssc.
The recovery was due to some uneasiness
regarding the approach of colder and per-
haps freezing in some CT the northern coun-
ties where corn is grown and to the good de-
mand which was reported from the cash
crowd. The latter. more than the posi-
in August, was the more probable
explanation of the change in sentiment
which caused the market to wind up at about
its highest point The stock of corn in Chi
cago is said to be chiefly owned by j Bry-
ant and he is no bear on the article He
looks for 65c for the couple million or so OF
September corn which he is said to have
laid by.
Oats fluctuated within narrow limits and
closed with gain of &c.
Provisions opened active and strong. with
an advance ofac in pork, 2l2c to 12l2c i'll lard,
and sc 10 Ice in ribs. Armour S brokers were
taking everything that was offered at the i'm
proved prices and that caused COM
rlete change in the feeling of
the crowd, which, until the support
gwen " AiHlouis "
somewhat panicky. The small receipts of
hogs as reported from the yards-S,00O head
was contributory circumstance i'll toning
up the trade at the start. Estimates of $4,000
hogs for all of next week also had its Infiu-
ence in restoring confidence. There was
Some realizing at theadvauce. which brought
a reaction from the extremes reached on the
first bulge, but in the end prices remained
higher than at the corresponding time yes
terday by 12I9@15c in pork, 5@20c in lard,
and 1l2c in ribs.
Lake freights steady on the basis of &c for
corn to Buffalo. Estimated receipts for
Monday: Wheat. 600 cars; corn, 400 cars;
oats, 300 cars; hogs, $4,000.
The leading futures ranged as follows: