St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-09-25
4 GRADUAL ADVANCE.
Wheat Dull and Lower at the
Opening on Chicago
Change.
But Soon Began to Advance
and Closed at Higher
Figures.
Shorts In Ribs Subjected to
a Squeeze by the
Clique.
Values Held Within Narrow
Limits in Wall Street
Trading.

CHICAGO. Sept. 2I-Whiie wheat opened
dull today, and for a time was shade lower
there was slow but gradual hardening and
an improvement in business, the price ad-
vanclng large fraction from last nights
close. Though it was not ali held. The early
trading was influenced good deal by pro-
nounced weakness which ruled at the close
last night, and some of the longs who failed
to get out yesterday were seeking to do so,
and the demand was light and confined
largely to shorts who could cover at a salts
factory profit. A report of n fresh cholera
attack in New York was also circulated But
the selling was soon over and the offerings
grew light and prices began to harden: the
exports were quite generous. Corn began to
advance and there was a sharp bulge in Oc-
tober ribs. These influences soon began to
affect wheat and there was an easy rally of
esc and the market held firm for some tme
but without any very large trade.
During the last hour the market weakened
Ac,but rallied ssc on good covering by shorts,
weakened again and closed steady Deem
Der opened Ac off at elise; sold at zee;
advanced to 76s4c; weakened 10 76l2c; rallied
to 1859. and closed steady at 765sc.
Corn was easy at the start on the fine
weather and bearish crop reports. The sell
ing was quite free, and the demand much
restricted. For a considerable time the
market was quiet and steady, but a report
that colo wave was probable woke up the
shorts and started them to covering, result
ing In a steady advance of 34c from the early
price for October. The market remained
steady and firm during the last hour, though
May showed tendency 10 lag behind Octo-
Der. october opened 18c lower ut 55SSc; held
TOR some time around 4jl21lf35sc; advanced
to 46Ac; weakened ana closed ar 455Sc.
oats were quiet but firm throughout the
session, closing at about Yesterdays final fig
ur5s.
Hog products were strong and higher. The
clique in control of October ribs turned on
the screws again, giving the shorts severe
twist. They were Informed at the opening
by the representatives of the clique that they
could settle at S9.G!l2. The closing price
last night was $50 The price bid was the
same at the opening, and it advanced by
Jumps OF iJc AMI 25c I'LL it reached the figure
1t was "pegged at. and few shorts settled
at that price; but the remainder believing
that they could get in on better terms held
off. reducing their bids, until. Oh the call,
they were offering s.. 10. but the manipulators
were still firm, holding out for S3.62l2
During the last hour the squeeze was relaxed
for short time, the price going down to
S925 but 1t was renewed with extra pressure
toward the close, going up to SJ.75. and the
close was at The ''pe2ged" price-S9 62l2
The transactions were limited, and the eX-
element not nearly in proportion TO the ex-
treme advance in prices. Pork srmpathIZed
to degree with the advance in ribs. October
opened unchanged at SlG.20, advanced dur
ing the forenoon TO sos and put on fresh
squirt during the afternoon, going up TO
SiO.6?l2. Then it weakened to $3.50, and
closed at that price October lard, after
closed al 81 .6.I5.
Lake freights &c lower at &c for corn to
Buffalo. Estimated receipts for Monday:
Wheat, go cars: corn. go cars; oats, 405
cars; hogs, 27,U00 head and 80, coo next
week.
The leading futures RANGED as follows: