St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-02

hAteF d w eak opening sne -siarkeC
Developed strength and Made
Higher Priccs-Bears Made a
Rush TO Cover During the last
Hour of the Session, and Pur.
chases Were Unusually Heavy.
Chicago. March 1.-Wheat was
strong and advanced 135c. retaining sc
at thtcloSe. Better cables, big export
clearances ami reported decrease in
the visible supply were pronounced
bull factors, and fair buying aided in
the advance. An increase in the visi-
bic supply figures later caused Il reac-
ton near the finish, but May was &c
from the bottom at the close. May corn
is unchanged; May oats sc higher and
provisions lower all around.
Wheat started firm at about &c i'm
prOvement over yesterdays closing
prices. There as some selling for
few minutes, and after decline in the
price from ;G$4-its starring point-to
591l95S2sc, II turned and advance
under strong demand. For au
hour and half there was
large business done. Commission houses
were we'll supplied with buying orders.
largely in small lots, but there were
plenty of these, and 1c and more was
quickly added TO the price after the
small decline already mentioned. BY
1880 O'Clock GGIc was paid for May.
The Cincinnati Price Current said that
the week had been more trying than
previously for wheat. 1t remarked also
that interior supplies were so reduced
that mills are obliged 10 draw increas-
ingly on market centers. A supplement
to that was received ill., private dis
patches from the Cincinnati Price-Cur-
rent, which gave an estimate of the
wheat i'll farmers hands, placing it at
S6,000,000 Blu less than al this time
year ago, 64.0O0,OO0 bu less than the
average for twelve years, and 12.000 bu
less than the smallest stocks of any in
those twelve years. Iii addition to
the effect Of these figures, the
clearanccs Of wheat ard -four
from the four principal Attain
tic ports amounted TO about GOO. 600 bu.
Chicago receipts were % cars, against
243 last year. Minneapolis reported 233
cars and Duluth 81 cars, compared with
PIT cars and % respectively Oh the cor
responding day last year. Liverpool
stocks were cablcd as being 1,296,OO0
smaller now than on Feb. l.
n i
caused some addition to the bullSh
feeling while the above-namcd advance
was in progress. The top of the bulge
was reached about 1915 o'clock, and
then some sitting of the Price Current'S
ngureS caused Il reYulSon of feeling in
the crowd. On inquiry of the editor of
the journal, he stated that he estimated
the present stocks, exclusive of what Is
i'll the regular visible, at 136, 600, 900 Blu,
and as the government gave The farm
erS' stocks year ago at 135, 000.0 bu.
that explanation took the edge off the
bull feeling which the first manner of
putting forth the statement had pro-
duced. The Price-Current's compar-
isOns are all made with its own previous
estimates. Cables gave an advance at
Liverpool from 14d to Id. The decline
from the highest price of the day
stopped Il 6G14c, which was the ruling
price al the close.
Corn was again quiet. the market at
tracing but little attention, fluctuations
being narrow and trading local. A
Steadier tone prevailed and prices were
trifie firmer, though the closing showed
but little change. The market was gov
erneG to great extent by the action of
wheat, as mas been the case all the
week. Opening trades were at about
yesterdays final quotations. and after
selling down 16W4c, recovered the de-
cline and ruled steady, and May closed
Is from the top.
In oats there was better feeling and
prices averaged slightly higher in SYM
pathy with wheat and corn, and also
owing to the small offerings. Prices
advanced 16@4c, and the close was
steady with NAY midway between the
days top and bottom figures
Provisions opened weak and lower on
the receipts OF live hogs at the yards
being abOpt 5000 over the estimates.
with a decline in prices for them.
Those who bought yesterday Sold out
today, resulting in moderate break.
Trading was quite active, and more so
than for some days past. Some outside
selling orders came i'll, presumably. for
prominent packing institution in an.
other city. The strength in wheat and
little covering by shorts were reSpou-
Slole for moderate advance, but the
undertOne Of the market was weak in
the absence Of anything like pronounced
support, and made itself felt shortly be-
fore the end OF the session, prices cas-
ing off slightly and closing fairly
steady Tor pork and ribs. and firm for
lard. Compared with last night, Nav
pork is 15c lower, May lard 10c lower,
and May ribs re lower.
Estimated receipts for tomorrow:
Wheat, 81 cars; corn. $50 cars; oats, 2OS
cars; hogs, $4,000
The leading futures ranged as follows:
open-I lligh-I Low Cos
YT re