St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-10
Decided Strength Was Appar-
ent in the Markets at
Chicago.
Dispelled Sunshine, Followed
by a Blizzard, Was the
Main Factor. O.
Wheat, Corn, Oats and Pork
All Gained More or Less
on the Day.
Manipulation by Both Sides
and a General Advance on !.
Wall Street. I'd

CHICAGO, March 9.-The decided strength,
which was the feature in wheat at the close
yesterday afternoon, was still the feature to-
day. All the surroundings of the market
were decidedly bullish, and May advanced
fully cents from the low point touched yes
terday. Probably the most bullisn influence
of the day was that the bright sunshine of
yesterday and the spring like weather had
been succeeded by skies that were overcast
and winds that were sharp. The signal
service reported a cold wave advancing
from the Northwest, where the thermometer
was in the vicinity OF zero and a binding
blizzard was said to be raging. This re-
minded the trade that March was always a
treacherous month and made the bears eX-
tremely nervous.
Other strong factors were the firm cables
and the decided strength shown in all do
nestle markets, and foreigners were said to
be quietly buying at the seaboard, and pros
pective export engagements were encourag-
ing to holders. The local speculative feeling
was bullish: shorts were feeling more uncer-
tain of their ground and showed a general
desire to cover. There were liberal buying
orders from New York, while Logan,
Schwartz Dupee, Brosseau and Mlmlne- Bod.
man were generous buyers. 1t was believed
that Armours brokers were picking up large
lots of wheat, and n B. Ream was also doing
a good business on the buying side.
The selling was partly by the professional
bears, led by Partridge and partly by longs,
who were disposed to realize profits. Bears
got some encouragement from larger local
receipts than expected. the big deliveries i'll
the Northwest and indications OF snow i'll
the Southwest. 1t was also claimed that the
cold wave would work eastward, reaching
into the southwest.
The volume of trade was fair, but not very
large. and the prices were limited to COM
Daratiyely narrow range. The available sup.
ply, as reported by Bradstreet's. increased
2SS, 900 blu east of the Rockies, and decreased
101, 600 bu on the Pacihc coast-the net in
crease being lS7. 900 bu. Price of May around
the opening was made at from soc to S9l2c
against SS12c at the close yesterday, settled ut
S9l8c advanced to S0l2c again, reacted to SSlsc
during the last hour on sales by longs who
had profit i'll their deals, then strengthened
under buying by nervous shorts who feared
to have their trades open over night. III view
of the threatening weather, advancing TO
S912c again and the close was firm at o9Ac.
Corn was quiet and a trif1e trmer, but very
steady, the fluctuations covering range of
only "a cent. Trade was slow and the slight
show of strength was due TO the better feel
ing in wheat. The receipts were so cars
smaller than estimated The close shows
gain of lSc i'll values.
Oats were quiet but firm in sym pathy With
wheat and corn and the smaller receipts
and closed 1sc higher.
Hog products were lower at the star, but
soon grew strong and advanced sharply. al
though the receipts of hogs were larger than
expected and prices at the yards Zoe lower.
The advance was partly in sympathy with
wheat and partly on covering by shorts, who
got somewhat frightened by liberal offers to
purchase by prominent trader May pork,
which opened sc off at S11 05. sold at 81 .02la.
then advanced to Sill 22l5, but weakened
toward the close and closed at S11 .17l3. q gain
of 7l2c. Lard closed unchanged, but ribsare
2I2c higher.
Estimated receipts for tomorrow: Wheat,
1872 cars; corn. IT'S cars; oats, l05 cars: hogs,
g., 900 head. %
The leading futures ranged as follows: 81