St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-02-11
Against Option Sales Has a
Disturbing Influence on
Markets.
RumorS Of Adoption or Re-
lection Sent Prices Down
or Up, as They Came.
Closing Figures Indicate q
Recovery of Nerve and a
Slight Gain.
Reading Stocks and Bonds
Were the Feature Of New
York Trading.

CHICAGO. Feb. 10.-The anti-option bill
now pending in congress had more 10 do
with the course of prices OH the board of
trade today than all other influences COM
bined. With the fluctuation of opinion and
the circulating of rumors tending to show
that 1t would or it would not become a law,
prices went up or down. The markets.
especially wheat, were nervous and ''spotty,"
sub Ject 10 periods of great activity and ex-
element, followed by decided dizziness.
Without warning prices would shoot up or
down. and then for considerable lengths of
time would remain very steady.
Bulls and bears alike were on strain and
ready TO run at the first sign of danger. Or
the curb yesterday afternoon, May wheat,
which had closed at S95Bc, sold Off to S775c,
and this, together with reduction of Is@Ac
in values at Liverpool, made the market
weak at the start this morning. Prices, how
ever, were very ragged at the outset, and in
the excitement widely varying prices were
made in different parts of the pit. Those
who had not recovered from the scare of the
day before made low Offers, while many of
the cool heads. who did not much fear pas
sage OF the bills, and who wanted to forestall
anything like panic at the start.bid well up
The result was that quotations from differ
ent parts of the pits ranged from SSc to S91Ac.
The buyers, however were in majority,
and in a short time there was an advance to
S9S4c, many scalpers failing on in the buying
movement. At the price mentioned, they un
dertook t. realize their profits by unloading;
but the demand having in the meantime
been about satisfied, there was nobody to sell
to, and prices plunged down in two minutes
to Ss7s@S9c. Then followed period of in
activity. followed by an advance to S9I2c,
then break to isaac. During the last hour
the market continued nervous but with a
light trading passing and fluctuations rang
ing at SSI2@SYAc.
Near the close 1t was reported that LamsOn
Bros. had received IL dispatch from some one
III authority at Washington, that it was ex-
tremely doubtful whether the committee
would ever report on the bill, and that there
was no danger of it passing. On this there
was rush to buy. and the price went up 10
9.ssc. Near the close it eased off some and
closed at S97sc, an advance of 4c compared
with yesterdays figures Partridge bought
considerable wheat early around soc,
but on the subsequent advance it was
put out again. AS a rule, however
There was no big trading during the day.
Bradstreet's reported an increase of 81, 900 blu
in the available supply of wheat east of the
Rockies, but decrease of $4,000 blu on the
Paclfc coast; the receipts in the Northwest
were liberal, and the clearancos from the
seaboard light.
Corn opened quiet and weak at AI:c for
May. against 4l1Sc for the close yesterday;
advanced quickly 10 42sSc, but broke again to
4ls4c There was but little business, and
nothing i'll the way of influential news the
market being dominated wholly by the I'M
easy and uncertain feeling which has grown
out of the proposed legislation in Washing
ton. Near the close there was rally with
wheat to 42lac. and the close was at 4-Asc.
Oats were dull and comparatively steady,
and closed with gain of ls@4c.
Hog products fiuctuated several times with
in q narrow range, largely in sympathy with
grains, though increased receipts Of and
lower prices for hogs had u weakening eff
feet. The close was at slightly higher figures.
Estimated receipts for tomorrow: Wheat,
lis cars; corn, lao cars; oats. l12 cars; hogs,
$4,000 head 80 - > -.
The leading futures range as follows: