St. Paul daily globe., 1894-02-04
WHEAT CLOSED HIGHER.
STEADY ENGLISH CABLES AND SHIRTS
COVERING WERE THE CAUSES.
SPLENDID bank STATEMENT.

Active speculation on the Stock
Exchange-Most OF the Busi-
ness Was Done in the Indus-
trials, st. Paul and Western
Union-Sugar Led in the Deal
ings. Advancing Two Points.
CHICAGO, Feb. 3.-After weak OPEN
ing and an early decline. wheat was
firm today, and closed 4c higher.
Heavy Northwestern receipts and light
clearances for the week were response
bic for the early decline. Steady En-
glish cables and covering by shorts
caused the reaction. May corn is un-
changed. May oats unchanged, add
provisions lower all around.
Wheat opened easy, with May sc
lower, at 81 sc. and soon sold off TO 64c.
The Northwestern receipts were larger.
total of 302 cars, compared with 81 on
the corresponding day last year. The
clearances of wheat aud flour for the
week from both coasts, according to
Bradstreet's. amounted to 2.083, 600 bu,
against 2.947,09O bu on the previous
week, and 3, ,124, 745 bu on the CORE
spending week of the year before. But
after reaching Gle for May, the market
began to advance. The influences pre-
sented were nearly all favorable to
sellers, but there was a feeling that
some persons were buying up consider
able quantities OF wheat quietly, and
this induced shorts to cover, besides
influenced other parties to take on a
little wheat. There was nothing definite
ascertained as to what was being done,
any more than there has been steady
buying for two or three days, and that
the market ruled stronger in spite of
the not altogether favorable news.
The advance continued slow but
steady until the end, and May closed
but 1sc from the top. May opened at
64Bc, declined sc, advanced 3sc, and
reacted 15c to the close at 64115c.
In corn there was very light speca-
lative trade, the opening being eSpe
cially dull, and the market all day was
quiet and featureless. A comparatively
steady feeling existed, values showing
no material change. The opening was
inclined to be easy. due largely to a
lack of interest, but firmed &c later on
the price being helped by the action of
wheat. The market then ruled eX-
tremely quiet, and closed with May but
&c from the days top figure.
In oats there was more good buying
than of late and firm feeling most OF
the day. The opening was easy at the
decline for May, but advanced &c, and
closed steady at &c from the top and at
the same prices as Oh yesterday. The
fluctuations were entirely in sympathy
with wheat.
Provisions opened higher, especially
for pork, on the run OF hogs at the yards
being about 1000 less than estimated,
but there was no stabili ty IN it In the
absence of support. Free offerings later
on were responsible for break with
scarcely any trading. AS soon as prices
were hammered down low enough t(
suit the bears, they turned buyers, tax
ing considerable quantities of pork al
the decline. Lard was also offered free
| lY with fair buying. slightly lower
| prices. The packers were sellers to 6
| moderate extent and two prominent in.
| stitutions were buyers. At the close
| pork ruled steady, lard firm and neal
the outside prices and ribs were weak
| at the inside prices. Compared with
last night May pork is 1870 lower, May
| lard 21ac lower and May ribs 10c lower
Estimated receipts for Monday
| Wheat, 50 cars: corn, 604 cars; oats, 16
cars; hogs, $4,000 head.
| The leading futureSranged as follows