St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-05
Big Operators Bought Very
Freely and Shorts Cow
cred on the Break.
Ready Absorption Of All Of
z ferings Helped to Harden
the Market,
And the Close Showed an En-
couraging Gain in the
Quotations.
Bear Attacks on Industrials
4 Created Some Activity in
New York.

CHICAGo Feb. 4.-Wheat opened quiet this
morning and a shade under the closing fig
ures of yesterday and for time showed a
slight tendency to weakness. Liverpool was
l2d lower. while London appeared to be de-
moralized, cargoes to arrive being quoted at
a reduction CT Is to Is Sd. This caused
rather free offerings, during which May,
after opening 1Bc lower at S3Sc, touched
Skc. The discovery was soon made, how
ever, that the offerings were being readily alb
sorbed and the market began to harden.
Partridge. Linn, Bartlett, SchwarzD upee
and other operators were good buyers, while
shorts generally appeared disposed to cover
on the break which has taken place during
the last day or two
The Cincinnati Price Currents crop sum-
mary reported the condition of the growing
wheat i'll Kansas as unfavorable and this put
little strength into the market. Then came
dispatch from Minneapolis saying that 100
0No Blu of wheat had been taken there this
morning Tor export, and also brought the
sensational news that the export engage
ments for three days were estimated at 5000
900 bu While this was not credited. the
crowd seemed to think there must be basis
for 1t, and the buying was for a time quite
sharp, many of the early sellers trying to get
buck their wheat.
For time the feeling was rather feverish
and there was gradual advance to s9Isc.
free selling OH the advance checked the up
ward movement and turned the market the
other way. May going to ssssc-
Renewed buying, however, sent the
price up to S9sSc, and the close was
firm at S9Ac. The speculative element
seemed to feel that it was unwise to attempt
to bear the market further on this break
Some reaction, they argue. may now be
looked for. and hence the crowd was in
clined to be bulliSh.
Partridge continued his scalping opera
sold quite as freely on all the subsequent
advances. Wheat and flour exports from
the seaboard were equal TO about $50 600 Blu
of wheat Late cables showed continued
weakness in the United Kingdom, with Paris
and Antwerp Ia@84c lower but Berlin was a
shade higher. New York bought good deal
of wheat early through Poole-Sherman and
Milm1ne- Bodman, but sold quite as freely on
the subsequent advance.
Corn was more active and strong. cables
were better, the shipping and export demand
was good stocks low, and The local receipts
tailed to show any of the contract grade
The price slowly advanced nearly all day,
with only one or two reactions closing with
i'll point of the top and at an advance of
S80I2c.
Oats were quiet and firm and show an ad-
vance of &c.
r. Hog products opened firm, on account of
the lighter receipts of and higher prices for
hogs, and advanced further in sympathy
with the strength in grains, closing generally
/, slightly below the lest figures. but at some
quotations. Estimated receipts for tomor-
row: Wheat, 131 cars; corn. 170 cars; oats.
120 cars; hogs, 5000 head.
The leading futures range as follows: