St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-04-17

ket was bearISn-dOm0 anu
Foreign News Was That Way
The Days Trading Was Light
Provisions Strong From Start
to Finish, SO Cents Advance.
CHICAGO, April l6.-Wheat opened
weak and closed strong today, with
gain of nc for May. Favorable crop
reports caused the early weakness, and
reports of crop damage the later
strength. A liberal decrease in the Wis
lille supply also aided in the recovery.
Corn was firm and gained &c.
Provisions were very strong and
closed at the top OF SOC advance In
pork.
Wheat got weak start from the bear
ish nature of the early news. Foreign
weather advices were to the effect that
showers prevailed in England, and
private dispatch from Stcasbourg. Ger
many, said that heavy rains were gem
eral there, and that crop prospects,
which before were good. still remained
so. Some more rain had fallen III Kan
sas. and of all the planks in the dry
weather platform of the recent short
bull campaign. the drought in California
alone remained. Even that was
jumped upon this morning. dis
patch from New York, received here
about the opening reporting rain in
Northern California. There was no
confirmation of the latter rumor, but
being in line with the general tendency
of the other news, it helped to increase
the bearsh feeling. Cables gave no
support to the market. The amount of
wheat OH passage had increased $4,000
bu, and India appeared to have shipped
more literally than of late, Beerbohm's
| giving 100000 as 1ndia's contribution
TO the quantity put atioat. Receipts in
the Northwest were again liberal. All
those matters together caused decline
| in price here OF 1c per bu in twenty
minutes compared with Saturdays clos
ing quotations. The business done dur
ing tue decline was not very heavy,
and after the decline trading became
quite slack, but with indications of re-
turning confidence among holders. May
opened with sellers at 59%c. as against
6O4c at the close On Saturday. Buyers
| at 59Tc were extremely scarce, but
| there were a few. In the next few sec
onds there was some business done at
| 5g11ac, followed by rally to $3.50, and
then by decline to 5914c. July. which
| closed OH Saturday worth only l3s@lAc
mtre than May, improved to premium
| of from Ike to &c in the first half hour.
| The first July trades were at 6112c. as
against &c on Saturday. The decline
! of 1c in May carried July off TO 6l1sc.
! The export cIearanceS from the prinei-
! pal Atlantic ports amounted to about
$50. COO bu in wheat and flour. The de-
| crease in the visible was 1915, 900
| Blu, whereas some had looked
for a small increase. and no one
| had predicted possibility of over $780,
900 bu decrease. The sentiment of the
crowd underwent complete change OH
| account of considerable decrease and an
advance to G0I@604c for May, and to
| 6l5sc for July, was the work OF very
few minutes. There was a reaction in
May to $500, but sellers did not offer
much. The trade continued light, with
rather feverish feeling prevailing,
| however, and not much work was re-
quired 10 put May up again to 6Os5c.
| Closing cables came very weak and
caused another spell of comparative
heaviness here, May dropping again to
| 59slc. After the half-cent decline which
! followed the receipt OF the weak Glow
| ing cables there were some more har-
rowing drought dispatches from Cali.
| fornia. which started the crowd to buy
| again, and the market went higher than
before and closed at 6019c for May.
The corn market vas firm after a
momentary fit of weakness at the open
| ing. There was no change of moment
| in previous conditions to account
for the strength, unless the greater buy.
ing disposition of foreign houses at New
York were accepted as warran;lng more
| firmness here. The visible supplies
declined 1,469.OOO blu. against l.lu9,0 OC
on the similar week year ago, and the
publication of that fact was the cause
of some accession of strength in the
middle of the session. The firm of
Bartlett-Frazier took a good deal
of corn during the day on soft
spots. The business done was
not heavy. MAY opened at 335kc,
as against the closing price of 3S1sc on
Saturday, it Immediately began to I'M
prove and reached 3S5sc. The market
| was at its best. as business was coming
to an END for the day, and May closed
at $500 and July at 195sc or &c higher
since Saturday. Larger receipts and the
fine weather sufficed to cause a heavy
feeling in the oat market at the opening
and values were at one time &c under
Saturdays last quotation, but at noon,
in sympathy with corn, had gained Il c
over the opening quotations. The
business transacted was very light. May
started at 32c. sold al 315 aud rallied to
3214c. The market showed still more
| steady feeling at the close, and prices
rested where they did Oh Saturday.
May sold at 1890, and at the end that
| price was bid.
Provisions opened with bounce of
from l5c to zoe over Saturdays closing
| for pork, ne and 10c over for lard and
from sc TO 10c higher for ribs. That
was only the beginning to a very strong
market which renamed of the complex
ion to the close. Armour was supposed
to be behind Sam Wolff in some sleight-
0f-nand work which that broker per-
| formed in the pork market He bid
| prices up and made occasional sales as
well. and whether he accumulated any
i'll the end was not quite determnaDle,
but he gave 10 the market its builish
tone. Robson sold rather freely Oh the
advance and Swift Il Co. ALSO had some
for sale on the hard spots. The strong.
est phase of the market was prevailing
as it closed, with everything at the tor
OF the days range. Pork closed fol
May at Sl3.3 80 and for July at Sl34O
being net gain of soc per Dbl. Lard
for May gained 3219c, end May ribs
closed 221ac higher.
Freight, were slow and easier, the
rate OIL eorI to Buffalo and Port Huron
being lc. Estimated receipts for tomor