St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-04-29
FLEW Up AND DOWN.
Frequent and Violent Fluc-
tuations In September
Pork.
Shortly After the Session
Opened the $50 Mark
Was Passed.
Wheat Advanced, Then De-
clined, but the Close Was
Higher.
Stock Market Opened Strong,
but the Close Was
Weak.

CHICAGO. April %. - The highest
price of the year was touched today on
the board of trade for September pork,
5000 barrel. The price darted back
| and forth like hooked trout on an
anglers line. After an advance of 45c
from the opening price it closed 1870
lower than on the day before. Lard
and ribs were fairly active, but quite
weak, and led off at declines ranging
from 22119 to $3.50. Without allowing a
moment to breathe. brokers identified
with the old Cudahy-Wright clique be-
gan to boom pork at the start, and
within few minutes after the
opening September pork had crossed
the line aud reached 5000,
against s19.7O at the close last
night. Then the clique unloaded, and
under heavy selling the market dropped
back to $3.50. the low price for the day.
Here the clique brokers again began to
buy heavily and the market rose to
$3.50. From this time to the close the
fluctuations were moderate, ranging be-
tween S19.70 and $500, at which latter
price the market closed. 1t was gen.
clique were striving to realize profits OH
the advance, the latter buying being
necessary in order to check the decline
that had started, and at the same time
kept the market under control for
scalping purposes. This Is the plan on
which the clique worked its May wheat
deal for long period and which proved
successful in the October rib deal.
The wheat market started firm and
for an hour or so it remained so with
buying orders FROM outside the more
numerous. The firm cables and the
cold weather in the Northwest were
bull factors. But private cables re-
ported that 1t was raining in Southern
| France and in Germany and this quick
| ly developed weakness. There was
also the assurance that the pretended
| Kansas crop report which excited the
market yesterday was a fake. and this
helped to undermine confidence. Linn,
Rumsey-Chandler, Armour and Mil
mine-BOdman began to sell freely. there
was free liquidation by longs and prices
| turned downward. finally losing % c
| from top figures. Cudahy was re-
ported to be good seller of
July through numerous brokers. Later
on, reports of large purchases for eX-
port helped the market. Private adj
vices from Kansas said the prospects
were worse than ever. The reported
threatening rain in Paris did not ap-
pear to have fallen. Abel Roy, of that
city. cabled in the afternoon that the
weather was brilliant and flour u mark
higher. Some rain was reported from
scattered points in Germany. Closing
cables were generally iirmer than at the
opening, and sellers of wheat here be-
came rather scare. The close was firm
within sc of the top.
Corn at the start was firm and first
trades were at fraction advance, and
on quite general buying the price YVES
put up &c more. The advance was met
with quite free selling and, as wheat
turned down, the market synpathiZed,
reacted &c, rallied full &c, ruled steady
and closed with 1S@3sc advance. Ship
perS were credited with liberal pur-
chases of Nav, and also fair quantities
of July. supposed to cover shorts. There
appears to be steadier undertOne to
the situation, the action of the cash
market and small receipts having a
stimulating tendency, but any material
advance it is imagined will greatly i'll
crease the offerings from the interior.
The oats market became firm with
wheat and corn, the close being strong
at about the top figures, with net gain
of 11a@3Sc.
Vessel room was in better demand to
load at once, and charters were made at
DC on wheat, 1c OH corn and %0lc on
oats to Buffalo, and SC for corn to
Kingston. Estimated receipts for to-
morrow: Wheat. 220 cars; corn, 167
cars: oats, l66 cars; hogs, $4,000.