St. Paul daily globe., 1893-01-17
LOST The ADVANCE.
Wheat Shorts Cover and
Longs Realize Profits on
Chicago Change.
Slight Increase in the Visible
Supply Causes a Loss
OF the Gain.
Corn Strong Most Of the Ses-
sion. While Provisions
Were Weak.
Outsiders Take the Control Of
Stocks From the Trading
Element.

CHICAGO, Jan. 1G.-A vast amount
short WheaU was bought IN today, ana
an immense quantity of long wheat was
sold out The realizing on long stuff
was done chiefly around c3c and over.
The price at the close was substantially
the same as Saturday, after selling lc
ul4ner Corn is &c and oats from sc
TO C higher for new delivery. Pork IS
pc lard 5c and ribs Ice lower.
While the first sales of wheat were at
some decline the feeling quickly turned
buuisll. ANA there was an advance of
I-.c from the low point. Cables were
higher. and the weather, both here and
ON the continent. reported cold and un-
favorable for the crop. There were
also indications that the visible supply
would show about stand-otf, and this
was taken as an assur ance that the de-
crease would now be about as rapid as
The increase mas been. There was act
i've buying. both on outside account and
1y local parties, with the offerings.
after the first half hour. quite meager
until near the close. The Northwest
was credited with some buying.
Weare was a heavy buyer from the
start. his purchases absorbing, lJ was
thought. fully l5J0.OO0 bu. BOyden,
PARKER Lester. Rumsey, Lightner.
~cHwartZ-Dupce, Logan, Beam and
BuXbaum were also good buyers and
there was nervous, uneasy feeling
among shorts which kept the market
teVeTishly strong. The marketing the
.ast hour was weaker on liberal reaiiZ-
.fFtf "a
visible At one time it was regarded as
certain that there would be decrease
of over 100000 bu, but a correction by
Milwaukee lefCtne net increase 294.000
lu. lt was reported that Partridge bad
covered freely-pr0Oably 100000 bu.
Bloom acknowledged having sold out
about million and Ream and Mitchell
were also sellers on a considerable scale.
Corn was decidedly strong most OF the
session. Wright was an aggressive
buyer. 1t is said that he has carried a
large line OF corn from above 5Jc down
t4 +5c and had the advantage OF the
1uOyaut feeling in wheat TO work the
market up and get out He was heavy
buVer of calls Saturday. taking, IU was
thought, over lU0G.G eco 1u. Ills stand
ON the market made shorts nervous. and
Tie covering was Tree. Baldwin. Cong
don. " care and Bryant sold freely on
all the firm spots. The market got
weaker during Tie last hour on free
selling and au Increase in the visible.
At the top offerings were greatly in
creased. large receiving concerns sell
ing liberal quantities, under which the
price yielded osc, but rallied 5sc soon
alter. ruled easier and closed with so
-c gain Tor May and is@4c for July.
Bd.dWiU-tarnum disposed of about o0O,
500 1u at from 49c down to +S+c.
oats were nTm in sympathy with the
strength in corn. There was IA liberal
general trade. Prices closed at about
he cop, with a net gam of ls9hc.
Trading was almost entirely in May.
Hog products were neglected and
weaker. with the trade about feature
less except Tor decided lack of support.
Local spectators, as well as outsiders,
seemed to be giving their attention TO
grain.
Estimated receipts for tomorrow:
Wheat. $50 cars; corn, 26j cars; oats,
l56 cars; hogs, $4,000.
rhe lsadiug futures ranged as follows: