St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-01-12
DWARFED BY WHEAT.
Reports Of Crop Damage Gre
ate a Big FURRY in
Chicago.
The Close Was Strong, the
Advance Being Nearly
Three Cents.
Provisions Reacted From the
Strong Market Of PPeVi-
Gus Days.
Wall Street Trading Noder-
ately Active Through the
Whole Session.

CHICAGo, Jan. IA big furry IN
wheat. with a Sudden advance Of nearly
Sc a bushel, dWarfed everything else
today on Change 1t was what the bulls
have been working for since the winter
began. 1t was difficult to say while
the furry was on whether the strength
came most from the fright Of the shorts
or from the buying of big houses and
the bullish crop news. The hopeful
feature OF the market for the bulls was
the fact that the advance was sus-
tained. even after the aggressive buying
ceased. The market started where 1t
closed on the late bulge yesterday, at
T9l6c. With 10 offerings, aud hennett
d Schwarz brokers trying 10 buy, the
shorts hustled the price up 10 1870.
Here longs let 30 somewhat. The crowd
took it, and put the price to 1899. Pard-
ridge and others sold heavily to check
the advance. The price went back to
1890. but quickly rallied to soc, with
Partridge stll selling.
The Liverpool cable WAS higher early,
but when the private cables came, say
ing the market was advancing on crop
damage reports from France the buying
here was rpd0uhlcd and the price went
to SO35c. The increase Of about 1000
600 bu in Bradstreet's available wheat
report put the price back to S014c. But
New York messages were 1ull OF the
French crop damage news, and some
private cables quoted Liverpool I'd
higher. The bull feeling returned a
third time, and the price went TO 6OBc,
with a slight reaction TO SOl3c. Later
weSsages confirmed the Oullish feeling
abroad, and about midday the May
tyriCe touched Sic, with the market act
ing as strong a. at soc an hour before.
Large sales oil low grade cash wheat at
&c over the Monday prices were re-
ported by elevator people, and this en-
Couraged the bulls.
The market got another big lift be-
fore the close. The late cables con-
1irmed the great strength at Liverpool
and Paris over the terrible weather on
the continent. 1t was evident that sew
eral large shorts were buyers. The bull
clique houses not only did not try to
hold the market back as heretofore,
but helped the bulge along. The for
eign buying continued here and at New
York. The Northwest made efforts to
get in a lot of short wheat. The market
brOadened and strengthened, and on the
late buying the May price rose quickly
from Sole to Size at the high point,
with the close at size.
Corn attracted fair amount OF atten-
tiOn, though the market was not what
might be called active at any time, the
trade as n WHOLE being slow and in
clined to drag. The spiayed
was stronger. Offerings at the start
were light, though initial trades were
ut yesterdays final quotations. The
market soon afterWard gradually ad-
Vanced &c, but ut 41c for May the sell
Prs were more numerous, and prices
worked back lir, advanced IW8c, and
closed with %sW&lc gain. a local ele-
vator concern. credited with free sell
Ing yesterday, took the same position
again today, ana supplied good pro-
portion OF the wants.
Oats attracted much more interest
than on yesterday. The feeling was
firm. helped largely by the advance in
the surrounding pits, though the small
movement and active cash demand cut
no little figure with a &c tain class of
operators. Market opened with good
demand at a fractional advance over
Yesterdays close and sold UP atterWard
15@Lc, reacted, losing the ADVANCE
bulged &c ana closed with $s6515c gain.
There was ii reaction in the provision
trade from the very strong market Of
previous days. The receipts OF hogs
increased very materially, and the edge
was Off the market at the yards. The
so-called bull clique operators were let
ting the market alone. Armour brokers
were doing but little. Ream was a big
seller of pork early, possibly on big
scalp. Hateiys sold big lot of lard at
mt l,ty
q little the stop orders brought ont con-
siderable product. The Impression was
quite general that the market had been
to the top, unless hogs 20 higher. Pro
visions CLOSED about Ice over bottom
prices for the day. This was decline
from yesterday of 35c in pork, 15c in
lard and but y III ribs.
Estimated receipts for tomorrow;
Wheat, 200 cars; corn, 115 cars; oats, 50
cars; hogs, 10000.
The leading futures ranged as follows: