St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-02-04
WENT Up AND DOWN
After Many Fluctuations
Wheat Closed Firm and
Higher.
Corn Follows Closely the
Changes in the Wheat
Market.
Provisions Chopped and
Changed, but Closed Con-
siderably Higher.
Strength in Speeialties Maln-
tain Prices in Wall
Street.

CHICAGO, Feb. 3.-The uncertainty
in regard to the anti-option bill kept
the market in very unsettled condl-
ton today. Wheat opened 4@19c
higher than yesterdays closing prices,
declined about &c, ruled firm, and after
some Slight fluctuations closed 49$8c
over yesterday. Corn closed the same
as yesterday after fluctuating with
wheat. Oats finished 15@Ac off from
yesterday. Pork opened sc higher, adj
vanced Toe, declined 371aG040c, advanced
TO072l5c and closed firm. Lard and
ribs followed pork.
Wheat showed a little better tone to-
day and has averaged a shade higher,
perhaps, though it has also sold lower.
1t got It's first strength on the weather.
1t is still very cold throughout the coun-
try, with some zero weather III the
Southwest, and the sleet storm has
spread a crust of ice over a vast erea of
the winter wheat belt, threatening the
wheat plant. This made shorts rather
nervous and there was some effort to
cover early, which started the market
up a little, but the anti-option bill IS
still a menace 10 trade, and after the
first exhibition of strength the trade be-
came extremely dull, as operators were
inclined to await the result OF the
struggle in the house over the Wash
burne bill. The opening was re higher
than Yesterdays close, but the improve
ment was Of short duration. a number
of traders thought it would be time
enough TO take note OF the damage to
crops when such is ascertained, and
70 oil. of Ia
TALLY lost.
The receipts at Chicago were 179 cars,
compared with estimates Of $40. Liver
pool was quoted dull and I'D lower for
red winter. Minneapolis reported re-
reipts of 122 cars and Duluth s, COM
pared with 30 cars on Friday last and
500 on the corresponding day Of 1892.
About an hour after the opening dis
patches from Washington came thick
and fast concerning the proceedings OF
the house on the anti-option measure,
and business here was generally SuS-
pended for over an hour while the mem
berS discussed the prospects OF the Dill.
The market during that time remained
about stationary at 771lc for May and
f118(07114c for July. There was a squirt
to NE for May about an hour from
the close of the session. The price.
which held firmly around 7778c during
the last half hour OF the session, rose for
Il moment to Use, and closed while trad
ing at 771s(07Sc was brisk.
The corn market opened firm at from
4115c to 4T35c for May, compared with
4715c at the close of the previous SEES
sion. The spectators acted as Oh the
day before by keeping one eye on the
wheat market, and following closely
the changes iii the superior article. The
market acted weak soon after the open
Ing, and gradually worked off until both
May and July were selling at 4114c.
Business, although not so pronouncedly
dull as Oh the previous day, was still
very light. The receipts were 237 cars,
against 2G0 estimated yesterday. The
market became very strong near the
close. May and July rose to 4728c, and
the closing quotations were: May,
47l5c bid, and July, 473sc.
Business in oats, although not very
active, was slightly heavier than yester-
day. May opened firm at 34$4c, sold up
to 34$ l034Ic, down to 341ac and recoV-
cred to 342S034$c. In sympathy with
the closing strength in all the other
markets, May rose to 3435c, and there
were sellers at that price towards the
rlose.
The provision market chopped and
changed about several times i'll the
course of the day. First it was strong,
then became extremely weak and after
that strong again. The small hog re-
reipts and high prices for them at the
yards gave provisions their opening
Strength. The weakness which sue
ceeded the opening strength was due to
some realizing sales by the heavy longs,
who had good profits at the advance.
The decline which followed brought out
good deal Of long stuff held by com
mission houses on narrow margins, and
the demand which sprung up for lard
On the decline helped the other articles
also in the advance which followed.
Nav pork opened with transactions at
1890 and Sla35, and Immediately there
after at $3.50. From those prices there
was a gradual decline to $40, and re-
covery to S19.G5 near the close. May
lard, which closed yesterday at S11.35,
dropped to Sill 215 and rose again to
Sll.6215. May ribs opened at $685.
and sold as high as S9.9112. They then
declined to $3.50. and afterward be-
came strong and advanced to S10.l2115.
Estimated receipts for tomorrow:
Wheat, 100 cars; corn. 270 cars; oats,
145 cars; hogs, 5000 head.
The leading futures ranged as follows: