St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-13

Cables Stronger and Higher, and
Export Clearances Liberal
Corn Jumps Gent in an
Hour - Stock Market Firm
Until the Publication of Poor
Bank Statement.
Chicago, Aug. 12.-Pardridge's short
line of wheat is looming up as factor
Ill the market. He has had perhaps
100000 bu called from him OH each of
the past three days. He has been a
seller in the pit on buIges, besides, and
is said to be short 100000 bu. 1t is I'M
derstood that he is fighting the advance
tooth and nail. After period of hesl-
tation due to cholera talk, there was n
other big bulge in wheat today, Sep
TENDER closing at an advance Of 115c:
December gained 134c. Corn Is weaker.
General rains must have greatly i'm
proved the crop prospects. Provisions
were very dull, and ranged easier in
price, but closed at about yesterdays
figures.
Wheat started off weak and lower,
but soon made a sharp dash upward.
early. and. as shorts had been pretty
we'll gathered in yesterday, there was
not much demand. Later in the day
confidence was restored by the fact that
exchange was easier. being quoted from
par to So per $1,000 discount, and the
buying was resumed, but with very
little for sale. Shorts got badly fright
ened. and began 10 climb over each
other i'll their efforts to even up,
and the investment demand. in
creased in boldneSs and volume. W. Il.
Ream was active in bidding the market
up. Cables, too, were stronger and
higher, and the export clearances were
again liberal. The re ceiptS at primary
markets were nearly 1,000000 bushels
less than the preceding week. and il is
| calculated that the visible supply will
show fair decrease while corresponds
Ing week year ago there was an in
crease OF 2.l74,0 900 bushels. The OPEN
ing was about 159s4c lower than yes
terday's closing, tiuctuated within a
small range and then advanced re for
September and re for December. eased
OIL 38@19c, and then rallied sharply,
prices advancing exc, closing tlrm,
within sc of the top.
II any one in the corn trade mad pre-
dicted week ago that the market
could be put up one cent i'll one hour in
the face of good rains over the entire
corn belt. he would have been put down
as lunatic. That is what occurred
this morning. Cash was in urgent de-
mand, shippers taking all the offerings,
which were quite light. 1t was difficult
to obtain round shipping lots and the
price was bid up and averaged IGQl1@c
higher than yesterday. which in turn
. affected speculative matters. The
better demand was due to the better
price of exchange. Onening trades
were at fractional loss and sold off
afterwards sc more. rallying later on
nc. changed butlittle and at the closed
had gained 4@3sc. Oats started out
slow. and prices receded ]4@35 from
! the opening. Later trading increased,
and as wheat and corn advanced, OATS
sympathized, and prices advanced 5Sc,
! and the market closed firm at about the
top. with net gain of Is for the day.
The provision market was almost
stagnant until few minutes from the
close, when Armour IL Co.'s brokers
We're put into the crowd to bid ribs up,
which they did without the necessity of
buying many.
Freights were slow and rates un-
! changed.
Estimated receipts for Monday:
Wheat, lis cars; corn, $50 cars; oats, 2lO
, cars; hogs, 10000 head.
The leading futures ranged as follows: