St. Paul daily globe., 1893-03-29
LEFT OFF At The TOP
May Wheat Made Another
Good Jump on Chicago
Change.
shorts Discouraged by North
western Wheat Not Reach
ing Contract Grade.
Close Was Firm at the High
Quotations OF the
Day.
Stocks Quiet, With a Firm
UndePtone TO the Gen.
epal List.

CHICAGO, March 2S.-May wheat was
ON the bulge today worse than ever. 1t
was a feverish market, With frequent
fluctuations. the extreme covering a
range OF over 2isc. The closing price IS
higher than on the day before.
July sympathizsd TO the extent OF &c
advance. Corn was helped by. the
strength IN wheat, and closed With
gain for the day of Sc. Provisions were
dull, and did not change much.
Perhaps the most alarming incident
for the shorts was the report that a
JrainlOad of wheat sent here from Min
neapoliS and guaranteed 10 inspect No.
. had, With the exception Of five cars,
missed the grade. This discouraged
shorts, who had relied on getting wheat
outside 10 fill their short sales here,
and made some of them desper-
ately discouraged. Cables were also
reported higher. and the clique
also seemed less inclined to supply the
shorts with wheat even on the sharp
bulEes. ii was the general impression
hat the clique was more inclined TO be
aggressive now than at any time since
the deal was talked Of. The market at
the opening was weakened by mild
weather and the increase of nearly
1.5UO.UOO bu in the amount on passage,
but almost Immediately began To ad
vance. outside shorts dong large
amount OF buying. the Northwest and
St. Louis being in the lead. The buying
by shorts was most pronounced late III
Tie dav. In addition to this EggestOn,
one OF the central figures in The clique,
came in at the close aS bidder, and the
price left of with sharp snap at very
top for the day.
g NOrthWeStern houses sent vigorous
kicks here against unjust eXacUlOnS In
the Chicago market. This IS very Im-
pOrtant At present as the outside mar
ketS have relied on thelr wheat grading
here to fill short sales. OF course it is
natural to tiy at the new grain inspector
and make charges, but the trade will be
slow to believe that there is any con-
nectiOn between the grading bureau and
the bull CLIQUE interested in preventing
a food of contract grade wheat on this
market Chicago receivers were found
on the floor VINO acknowledged that the
screws are being turned & little tighter
on the Northwestern wheat, and that if
the same wheat had come in small lots
from country points that 1t would grade
No. , without question. The opening
for May delivery was 1@l15c lower than
the closing figures OF yesterday, but
prices were advanced irregularly 215c.
ruled easier, and the closing was about
l3sc higher than yesterday, July varied
but slightly. the days fluctuations be-
ngcOntinel 20 3
There was little doing in corn. Prices
were confined within narrow range
and touched The lowest point on the
crop. The days quotations showed
good profit for the "shortS," and in
many Instances this was taken, and a
fractional recovery resulted.
There was good trade and firmer
feeling in oats. owing to sympathy with
corn and to buying by shorts" There
was also liberal trade in the way of
changing from near to distant months,
June being bought and May sold. The
market closed steady at the outside
with net gain of l4@3sc.
In the provision pit trading was linz
tied. the market being practically de
serted a part OF the time, with a slight
temporary rally now and then in sym
pathy mainly with wheat, the market
closing a little better than yesterday,
except pork, which is a shade lower.
Estimated receipts for tomorrow:
Wheat, 225 cars; corn, 90 cars; oats, 120
cars: hogs, 1900.
The leading futures ranged es follows