St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-08
EVERYTHING MOVES up.
WHEAT, c0RU OATS EHO PORK JOY
IN The ADVANCE.
A SUGAR SQUEEZE CASUALTY.

A SUGAR SQUEEZE CASUALTY.
Failure ofthe Brokerage Firm OF
Hunter. Clark d Jacob - The
Concern Was Caught by Clark
Signing the FIRMS Name to
Number of Sugar Privileges
The Culprit Skips Out.
CHICAGO, March 7.-There was more
general speculative activity on change
today than has been seen for months.
Wheat, corn, oats and provisions all
participated in the revival of trade, and
each of them made money for their re-
spective holders. Wheat is up &c, corn
&c, oats nearly 1c, and pork zoe. Oats
started the bull whirl, and electrified
the corn and wheat pits when they
found themselves being wagged by their
usually humble followers. Wheat
opened easier at $3.50 for May, as
against 601sc al the close of the previous
days session. 1t showed no symptoms
of rallying power for about fifteen
time it began to stiffen up. and
rose to 6Oc. The weaker feeling at
the start was due to the mildness Of the
weather, which over the winter wheat
area was several degrees warmer than
Oh the day before, but rec Ell IS here were
only IS cars compared with 169 at the
same period year ago, and 1T was
pointed out that zero weather was yet
la "a a
weakness to the strength indicated by
the recovery from $3.50, the lowest
point of the early decline. 10 6035c was
To some extent due 10 tue pronounced
firmness at Minneapolis and Duluth,
which on little encouragement here,
shot ahead of Chicago:while the rise was
in process. Minneapolis wired that re-
ceipts were likely to fall off materially
there before long. although il is diff
cult to see, with the premium which
cash wheat demands there. that any fall
ing off is possible SO long as there are
stocks in the interior elevators which
can be coaXed to the front. Some of
the strength in the market was likewise
due, it is said, TO the preparations OF
the shorts to encounter what they fully
expect will be very bullish report
from Washington Saturday, regarding
the stocks of wheat on the farms The
very bullish feeling in oats and corn
also contributed toward inspiring the
wheat shorts with Il desire for relief
from their outstanding contracts. The
closing cables came firm, Paris showing
ION IL to 25 centimes advance in flour
and lin q mark gain in wheat. Sea-
bOaru clearanceS were comparatively
light, amounting to only about 10000
blu i'll wheat and flour from the four
principal Atlantic ports. The price,
after reaching 602sc. had several quick
fluctuations between 6014 (96Gaec and the
higher figures. with generally rapid
rallies from each slight break.
The market was active and firm to-
ward the END, closing at 601a@603sr.
In corn there was pretty good ouying
by some of the larger concerns, while
the offerings were moderate all day. The
strength was due largely to the pros
pective smaller movement, advices from
the interior indicating lighter offerings
at country stations, and also 10 the act
i've demand for cash, which was IN
urgent request at higher prices. Local
room traders sold early. but bought
back on the advance, which caused
prices TO advance sharply. Tuday'S
arrivals were small al 213 cars, % Of the
same grading, and tumOrrow'S estimate
is placed at 235 cars. The market
bulgtd quite rapidly on the announce
ment Of the light arrivals for tomorrow.
The market opened with fractional
loss and sold down slightly, when the
demand improved. %shOrts" FASTENED
to cover and prices were advanced &c,
receded &c. ruled firmer and closed
with 36@$4c gain. In oats there
was an active trade and very
strong market. Shorts bought literally
and there was also good general buying,
which absorbed the offerings readily.
The strength in the cash market and
the active demand there had much TO do
with causing prices 10 advance 36@Yc.
The feature in the cash trade WAS The
sale OF Ii round lot Of 100, 0O0 bu No 2 in
store at 3914c. or &c under May. Re-
criptS were small, with no increase eX-
pected tomorrow.
Provisions opened steady on lighter
run of live hogs at the yards than esti-
mated and an advance in prices for
them. Free covering by thesshorts,
especially in pork and lard, and the
strength developed in wheat, sent the
market up with only slight reactions.
good advance being scored. The brokers'
and commission houses were the princi.
pal buyers. A good volume OF business
was transacted, except that ribs were
comparatively neglected. Trading fell
Off later on, the market becoming COM
paratively quiet. A little realizing sent
prices down 10 a limited extent, but
they speedily reacted on moderate buy
ing, and then fell off slightly, the mar
kct closing steady Tor pork and easy for
lard and ribs.
Estimated receipts for tomorrow:
Wheat. TO cars: corn, 235 cars; oats. l2O
cars; hogs, $4,000.
The leading futu. e. RANGED as follows.