St. Paul daily globe., 1893-03-03
LIFE IN The MARKET.
Higher Values Follow the Re-
moval Of the Anti-0p-
tion Bugbear.
Wheat Jumped Up Over Two
Cents and Corn Over
a Cent.
Strong Feeling and Higher
Prices for All Hog
Products.
Strength in IndustpialS I'M
part Firm Temper in
Railway Stocks.

CHICAGO, March ,. - Wheat today
jumped up over &c bu, corn advanced
over a cent, pork SOC and lard 40c-ali
apparently the result of the death OF
anti option. Traders showed diSpoSi-
tion TO operate more freely than for
months, and the markets were rOGSing
enough for presidential inauguration.
The boom began few minutes after
the opening, rs soon as the fact became
apparent that the offerings of wheat
were not large and the demand urgent.
particularly from shorts" The dull
ness OF late induced a good deal Of local
short selling. and the market became
0yer-SOld TO such an extent that the kill
mg OF the antl-option bill by congress
scared many into covering. Their buy
.ng, combined with that by outsiders.
and also by traders who believed
hat 4 change for the better was
due. absorbed the offerings 50 readily
that prices were advanced 1c IN few
minutes. The upward tendency was
continued until an advance OF &c from
the opening figures had been recorded.
\ reaction OF 1s0lac occurred, ana III
turn was followed by an advance OF &c,
and the close was strong, with net
gain of &c for May and ll5c for july
CIup reports were more encouraging 10
holders, and the Cincinnati Price Cur
rent reported that the belief in damage
was increasing, and the average posi-
ton less assuring than a week ago. 1he
export clearanceS from the Atlantic
purts and New Orleans also showed a
large increase Cables came easier, the
receipts in the Northwest were more
liberal and the mild weather was said
10 continue over the winter wheat belt,
but the short interest here, the removal
Of the anti-optiOn bugOeaU and the fear
OF the clique were sufficient to cause all
the bearish features to be overlooked or
disregurded.
Corn opened steady and dull, and the
benefit that the Knockout Of antl-Opuon
had been 10 the market was not immedi-
aJely perceptible. 1t came, however,
little later, and with such an lrreSisuO!e
rush that he ShOrtS-WhOSe name Is
legIOn-had not time to secure any until
the market was lc above the opening
price. Another bulge near the end or
the session lifted the market to still
higher plane.
The bulge soon spread from wheat
was heavy business done, while the
price climbed about $lc above the OPEN
ing quotations. The shorts were again
the principal buyers.
Trading was light for everything IN
the market for hog products. a strong
feeling prevailed on the postlngs OF the
stocks OF provisions on haud, indicating
that the quantities were less than an
licipated, except of pork. The fact OF
small receipts Of live hogs at the yards
was also an element Of strength, and SO
was the boom in wheat. The selling
was principally by holders and parties
who bought during the last two days at
lower prices. The outside trade was
mainly in lard and ribs, and the offer
ings were about equal to the demand.
The principal feature OF the marketWas
Its quietness. considering the influence
the. publishing OF stocks on hand should
have had upon it.
Estimated receipts for tomorrow:
Wheat, 100 ears; corn, 100 cars; oats,
120 cars; hogs, 10000.
The leading futures ranged as follows;