St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-02
The Presidents Proclamation
Causes an Advance on
Chicago Change.
A Gain Of Nearly Be- Recorded,
With the Close at the
Top.
Wheat Exports the Past Week
the Largest Of the Crop
Year.
Stock Prices Also Advance
Sharply on New York
Stock Exchange.

CHICAGO, July Wheat shot upward to-
day nearly &c a Blu. Monthly deliveries ac-
complished without disaster and export clear
ances OF 2,000,0 900 Blu within six DAYS backed
by the calling together of congress, seemed
to restore confidence and give the market
buoyancy of feeling to which it has been a
stranger for many weeks. The great July
delivery day. Notwithstanding widespread
apprehension, passed serenely. The greatest
anxiety was directed toward wheat, and, al
though 100000 Blu or more of the IL. 00O, 900
Blu OF contract wheat was sent around no
one was seen running away from it, in fact,
the bulk of it wended back into the same
strong hands which sent it forth. That lifted
load from the spirits of the spectators,
but there was prospective vision of the
great weight of the silver problem being
lifted from the shoulders of long-suffering
business community which had far more
stimulating effect. The call of an extra ses-
sion OF congress to consider the financial
situation seemed like a soaking rain on a
parehed country. II had an immediate re-
Tiylfying effect. Wheat felt it at once and
opened 1c higher for July and at 1ac advance
for september. This was only the beginning
OF more decided rise, and as the market
was coming to close the advance reached
2f5c for July and ll2c for September COM
pared nwith Fridays closing figures The
latest trading was at strong at the top figures
OF the day.
The weeks clearances from both coasts of
wheat and flour were the largest of the crop
year. They amounted to 1871, 900 bu COM
pared with 3,2l6o00 blu year ago The ex-
ports from the Atlantic seaboard reported to-
day amounted to about 700,00J bu. cables
show some appreciation of the advance here
and the reports concerning the spring wheat
prospects were very discouraging. Those
were the main features of the days news on
the bull side. The per cont.a items were
tod cslr Oh.
Joliet steel works and also the absence of
buying orders for what at working limits.
There were some peculiar features i'll the de-
Iiveries. In many cases deliveries were made
by large houses so as to effect settlements on
contracts, and then the wheat was taken
back for carrying profits. The Cudahys,
through Eggleston, delivered out large line
of wheat OF all the wheat going around
Armour took, perhaps, two thirds. A queer
freak in the trade was Partridge taking 800
OJ0 bu wheat as carrier.
Corn was moderately active. Deliveries on
July contracts were not as large as had been
looked for. and for the opening there
were good many buying orders for July at
the spread between September, there being
sac difference at the start, which later mar
rowed TO 26sc. The action of wheat also
helped the price. Opening trades were at 40
12e and under good demand July advanced
5sdIs4c, while September sold up but kGi3sc,
reacted later ls(04c, ruled frmer, and at the
close July had gained lAQ1Ssc and Septem-
Der SSll12c. 8
In oats there was fair trade and stronger
feeling, prices advancing ssc for July and
Ac for september, and closed steady with
net gain of CSC OH July and &c on Septem-
Der. The offerings were lighter and the de.
mand better.
Provisions felt the effect of heavy deliver
les on July contracts and big hog receipts
Trade was light. 1t was almost impossible
for some time after the opening to dispose
OF anything for July. There were no buyers
for this month. Toward the close Uudahy
stuff. There was only one trade in pork and
that was at its previous price, S20. 10 for Sep
TENDER. Lard closed at loss of l5c, and
ribs of zoe
Freights were slow at 1c for wheat and
corn to Buffalo. and 2s4c for corn to King
stoh. Estimated receipts for tomorrow:
Wheat lilo cars; corn, 70U cars; oats, 241 cars;
hogs 1000.
The leading futures ranged as follows.