St. Paul daily globe., 1893-08-27
GOOD WHEAT BULGE.
TRADE LOADED UP EARLY AND TOOK
PROFITS LATER.
VERY GOOD BANK STATEMENT
Bulls Boom the Stock Market
Coming Repeal ofthe Sherman n
Bill and Big Gold Arrivals
Make Many Buyers OF Good
stocks-General Features eff
the Market.

CHICAGO, Aug. 26.-The premium for
carrying wheat is narrowing down to
normal dimensions. The spread be-
tween September and December, which
two or three days ago was &c a bushel.
narrowed to 61ac today. The carriers
! had orders in at the opening to take
September and sell December at &c diff
ference. One big house accommodated
them with $4,000 bu in a lump, and
others were found ready to sell the Sep
tember and take the December. But
the buying Of September and the
selling Of December predominated.
The public cable quoted wheat
futures firm and 14@15d higher.
The commercial agencies in their
weekly review OF trade indicated much
! improved conditions with $50, 900, ,000 in
gold already imported in few weeks
and more coming. Bradstreet's gave
the exports of wheat and flour for the
week at nearly 10000 bu. This was
better than expected. The estimate
was for only half million increase in
the visible for Monday. and the exports
caused some TO predict that there Will be
10 Increase. On top of all this came
the New York bank statement with an
increase OF over S5,300,000 in reserves,
and otherwise favorable. This gave the
! market IFS best bulge. The local trade
having loaded up on the advance,
turned to take profits the last hour. The
market weakened us quickly as it got
strong, and the bulge almost disap-
peared before the close. No sales of
cash wheat for shipment were reported.
The opening was 1sM14c higher for
September and December, then eased
off 14035c for the former, and 15c for
the latter delivery, became firm and
prices were advanced lM11sc for Sep
tember. and MM1sc for December, eased
OF 19@%Sc, held steady. and the closing
was about 3sc higher for September and
the same for December as the closing
figures of yesterday.
Corn was quiet, and, on the whole,
averaged better than yesterday.
short" being more disposed to take
profits, the action of wheat having a
Stimulating influence. The market
opened at yesterdays final figures, was
steady and soon afterwards advanced
sc, eased off 5s@lac. ruled steady, and
at the close hau lost I405sc.
There was a l4@asc decline III oats in
sympathy with corn, and rally of 4
}ac later OH fair buying. Fair selling
was INDUCED in when the estimate of
4i5 cars for Monday came out but
prices were not materially affected, and
the close was steady at about the same
10 a shade over yesterdays prices.
Provisions were very firm. The ad-
vance in price of ribs yesterday did not
have the effect of shutting off the cash
demand, and consequently they were
given another hoist today Business
was not heavy, but the price kept ad-
vancing at every bid, as no one seemed
disposed to sell more, and especially for
September delivery, Pork being con-
sidercd relatively cheaper than other
meats, was wanted by packers, who are
said to be getting good profit out of it
by cutting it into strips. Some more Of
! the shorts in September ribs were forced
to come in on the bulge. Pork closed at
an advance of G0c on Yesterdays clos
ing rate. September lard gained 2]lc-
and October l0c. September ribs are
21l4c higher, but the advance in October
is only &c.
There was fair demand for vessel
room, and rates steady at Il &c asked for
wheat and 1ltc for corn 10 Buffalo ..7
Estimated receipts for tomorrow :
Wheat, S2 ears: corn, 700 cars; oats,
4lJ cars; hogs, 27.000.
The leading futures ranged as follows: