St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-03
The Presidents Proclamation
Causes an Advance on
Chicago Change.
A Gain Of Nearly Sc Recorded,
% With the Close at the
Top.
Wheat Exports the Past Week
. the Largest Of the Crop
Year.
Stock Prices Also Advance
Sharply on New York
Stock Exchange.

CHICAGO July Wheat shot upward to-
day nearly &c bu. Monthly deliveries &C
complished without disaster and export clear
ances OF 100000 blu within six days. backed
by the calling together of congress, seemed
to restore confidence and give the market
buoyancy of feeling to which it has been
stranger for many weeks. The great July
delivery day. Notwithstanding widespread
apprehension, passed serenely. The greatest
anxiety was directed toward wheat, and, al
though 100000 bu or more of the 16000, 600
Blu OF contract wheat was sent around. no
one was seen running away from it; in fact
the bulk of 1t wendell back into the same
strong hands which sent 1t forth. That lifted
load from the spirits of the spectators,
but there was q prospective vision of the
great weight of the silver problem being
lifted from the shoulders of loug-suffering
business community which had far more
stimulating effect. The call of an extra SEES
sion of congress to Consider the financial
situation seemed like q soaking rain on a
parched country. 1t had an immediate re-
viyifying effect. Wheat felt it at once and
opened lie higher for July and at l3c advance
for september. This was only the beginning
of more decided rise, and as the market
was coming to close the advance reached
278c for July and lI2c for September, COM
pared with Fridays closing figures. The
was az obAOl45 " l11C up uSuISS
of the day.
The weeks clearances from both coasts Of
wheat and flour were the largest of the crop
year. They amounted to 3,971,000 blu com
pared with 3,2l6.O00 bu year ago. The eX-
ports from the Atlantic seaboard reported to-
day amounted to about 100000 blu. cables
snow some appreciation of the advance here
and the reports concerning the spring wheat
prospects were very discouraging. Those
were the main features OF The days news on
the bull side. The per contla items were
some failures reported and stoppage of the
Joliet steel works and also the absence of
buylng orders for what at working limits.
There were some peculiar features i'll the de-
lIyeries. In many cases deliveries were made
by large houses so as to effect settlements on
contracts. and then the wheat was taken
back for carrying profits. The Cudahys,
through Eggleston, delivered out large line
OF wheat. Of all the wheat going around
Armour took, perhaps two -thirds. queer
freak in the trade was Partridge taking $780,
600 bu wheat as carrier
Corn was moderately active. Deliveries on
July contracts were not as large as had been
looked for, and for the opening there
were good many buying orders for July at
the spread between September, there being
3Ac difference at the start, which later mar
fUwed TO 25sc. The action of wheat also
helped the price. Opening trades were at L.@1
lac. and under good demand July advanced
lssGs4c, while September sold up but A0Gssc,
reacted later lsQ1Ac ruled firmer, and at the
close July had gained lA01ssc andseptem-
her ss@I2c
In oats there was fair trade and stronger
feeling, prices advancing sSc for July and
14e fer september, and closed steady with a
net gain of Csc on July nd Ac on Septem-
Der. The offerings were lighter and the de-
mand better.
Provisions felt the effect of heavy deliver
les on July contracts and big hog receipts
Trade was light. 1t was almost impossible
for some time after the opening to dispose
of anything for July. There were no buyers
for this month. Toward the close Cudahy
came to the rescue by buying a little July
stuff, There was only one trade in pork and
that was at its previous price. $50. 10 for Sep
TENDER. Lard closed at a loss of 15G, and
ribs of zoe
=. Freights were slow at 1c for wheat and
corn to Buffalo, and 2s4c for corn to King
ston. Estimated receipts for tomorrow:
Wheat ito cars; corn, 100 cars; oats, 24O cars;
hogs 25.000.
The leading futures ranged as follows