St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-12-08
CLOSED WITH BUYING
Big Purchases Of Wheat
Mark the Closing Of a
Weak Day.
Blizzard Talk Helped the
Rally Which Followed
the Buying.
Provisions Took a Big Tumble
at the Start and Contin-
ued Weak.
Support Of Sugar Gives a
More Confident Feeling in
Wall Street.

Big purchases of wheat marked the close
of a weak Gay. One commission firm
Geddes- Kirkwood, took much more than any
other single house. They are also said TO
have changed about 100000 blu of long De-
cember wheat into May since the first of the
month, and to be holders of that quantity
now for client who is supposed Ia be John
or Michael Cudahy, or perhaps both. Eg-
gleston, Boyden and other commission
houses are supposed TO be heavily long for
the same parties. Partridge added IN the
pit perhaps so, 600 bu TO his previous short
line. and ii was said a further 100000 Blu on
calls were sold by him yesterday. Blizzard
talk helped the rally and the close was l6c
higher than yesterday. Corn followed The
course of wheat, and in the end gained BM
I2c on yesterdays closing price. Provisions
were again easier. Pork is l712c lower, lard
zoe and ribs |: l2c lower.
EXceptin the last hour wheat trading was
exceedingly slack. Liberal receipts i'll the
Northwest weak cables and reports of snow
in the West were the influences to which an
early decline was attributed. The offerings
were fair md the demand light, until 7Sc
was reached for May, at which figure the
market set med to strike the buying orders.
The subsequent advance was attributed also
to the rather large clearanceS from the sea-
board and Bradstreets report, which did not
make the increase in stock as large as geuer-
changed. and prices declined CSC, then ad-
vanced lsG7 SSc, and the closing was firm,
about 1Sc from the top.
Although initial trades in corn were sold at
slight advance, the price soon sold off S8c
On selling by some of the larger receiving and
shipping films the buying being confined
mainly 20 room operators. At the decline
the demand improved, and, as the ear lots
for tomorow-2OO were comparatively
light and adyices were that q Storm West
would interfere with the movement the
price rallied, recovering the early decline.
changed some, ruled firm, and closed with
180Ac gain.
In oats there was moderate pressure to sell
and May receded SBc On the decline there
was fair covering by shorts and the mar
ket closed steady atabout the same as yester-
day for May.
Provisions took a big tumble at the start,
and then reiapsed into Il comatoSe condition,
The decline i'll January prices at the opening
amounted 10 2.l2c for pork, 2Cc for lard and
12l2c for ribs. The ostensible reason for the
decline was larger receipts of hogs than eX-
pected. Lard was exceptionally weak. Yes
terday Wright made a private settlement
with Fairbanks brokers on $1,000 tierces
which he was short for January and long for
May. When Beazley offered Il lot of January
ribs Wright Lought 1000, 100 lbs. supposed to
be for short account. This trading was the
heaviest OF the day. Cudahy brokers were
sellers OF January pork, but bought consid
cradle JaiiEaFy' ribs and lard, some of 1t
thought tGA Be6 for Wright The bull
clique seemed to have quit, temporarily
at least trying to run the market and in
stead were engaged in an evening up process.
The close Vas within &c of the bottom all
around. TIE receipts of hogs continue to
grow more satisfactory to the packers, and
the indications are that the prevailing high
prices viii bring The total for the month up
TO the largest figure for any December on
record. The total this week up to today was
10l,920. The farmers are evidently letting 90
their holdings, ana the prevailing OPINIONS
that the recei Is will increase very decidedly
during the next thirty days. There WAS
shrinkagc Of from sc to Ice per hundred
pounds IN hog values today as a result of the
more libtfAi. receipts. the range being S.. 0C@
6.lD for }ialstand S4.62I2@6.30 for medium to
heavy. ThcSe prices are considerably higher
than at Omaha or Kansas City.
Estimated receipts for tomorrow: Wheat,
126 cars; corn, 80 cars; oats, lS5 cars; hogs,
$4,000.
The leading futures ranged as follows:
Open- High Low Clos
ADTTCr rs aSf OCT