St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-05-09
Enormous Business Done in
Wheat On Chicago Board
Of Trade.
Partridge the Plunger Buys
From 100000 to 7,000,-
900 Bushels.
Provisions Excited and High
err on Light Receipts OF
Hogs.
Stocks Feverish and Unset
tied in the EARLY Hours Of
IL Business.

' CHICAGO, May s. - There was an
enormous business done in wheat today
at from &c to 18lc advance on Satur-
days closing prices. Partridge took
alarm at the strength of the news, both
foreign and domestic, and took in short
wheat wholesale. One estimate puts
his days purchase at from 100000 to
5000, 600 bu through his own house and
other brokers. Cudahy was big seller
of September wheat, and n. B. Ream,
Singer and Champlin fed July out Law
ishly. Leeming, of Partridge & Leem-
ing, was surrounded by crowd Of
brokers just after the session was Off
cially closed and raked their offerings
in $1,000 bu and $4,000 blu lots at the
price given as the closing quotation,
7S35c, which is &c higher than the latest
price on Saturday. Corn was heavy,
and closed at a decline of sc for July.
Provisions were very strong on light
Business.
The wheat shorts seemed thoroughly
frightened and investment buying was
quite pronounced. Cables all came
higher, and domestic markets were all
very strong. Crop conditions abroad
were represented as growing worse
from day to day, and the Kansas state
report seemed to confirm all the gloomy
reports heretofore received from that
region and indicated crop OF less than
80. 100000 bushels, against 100000
bushels last year. The bullish senti-
ment has been growing for some
days, and the temper of the
trade was in the proper condi-
-; - lNt inf n6
by these reports, and not with
standing the betterl financial feeling III
Wall street aud reports of warmer and
better weather in the Northwest, prices
made a big jump. Later, rains were re-
ported in France and Hungary, and
there was generous realizing, which
| sent prices off nearly 1c. but the feeling
kept nervous. The big decrease in the
| visible and strong continental cables
acted as a check to the decline. The
| tone at the close was easy. The opening
was about 5s0l@9c higher than Satur-
| DAVIS closing, advanced &c more. then
| declined irregularly 115c, tiuctuated,
and closed about 81 higher than Satur-
| day for July and &c higher for Septem-
! Der.
The decline in corn was largely due
to continued free realizing. The tone
| were at about Saturdays final quota
| tions, but the large sellers of Saturday
again disposing of large amounts broke
| 56G0Ac. Later on the price worked up
| &c, ruled weak, and closed with de-
| cline of 1@l15c. Receivers were also
on the selling side, offerings in the in
| terror, it is reported, increasing consid-
| cradle OF late. The weather, while wet
| in many portions Of the corn belt. was
warmer, and crop conditions were said
| to be more favorable.
! There was fair trade and weaker
market almost from the start in oats,
he early prices being the highest and
| the closing about the lowest, with net
loss of al@115c. May declined &c.
June 114c, July 13lc and September 1c
from the top figures. The decline was
| due to increased selling by parties who
were the best buyers, and also to sym
pathy with corn and to larger receipts.
Provisions were primarily excited and
higher on the steady advance of live
hogs at the yards and the active buying,
but really from the fact that mess pork
| for September delivery is to all intentS
and purposes held by few parties.
1t is said that there are only
few scattering shorts, prln-
cipally amo>g the local crowd,
and every tine there is an attempt to
buy the market is forced up. The eX-
! IRENE advance brought out some reali-
| zng orders and the market sagged mod
erately 1t then ruled steady and quiet
for time. On some selling by prom
| inent operator the market declined
and nearly all the early gain was
lost. As soon, however, as the of
ferings became scarce, the market rail-
lied to the early outside price and ruled
strong and higher, then dropped, clos
ing weak, with a little more than half
the early advantage lost. The final
| prices compared with close Saturday
show a gain Of size for September
pork, SOC for September lard and 171ac
for September rios.
Frpghts were dull, the bulk of the
business being done by the line boats.
Rates remained unchanged at 115c for
wheat and 1c for corn to Buffalo. EsIi-
mated receipts for tomorrow: Wheat.
80 cars; corn, 185 cars; oats, 325 cars
hogs, $4,000.
The leading futures ranged as follows: