St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-24
WHEAT GAINED ONE CENT.
HEAVY EXPORTS ANO FREE BUYi2G
AIDED The BULLS.
STOCK LIST BADLY NEGLECTED

The Industrials and Sugar Monop-
olized the Attention of the
Market-LondOn Sells st. Paul
Stock-rraders Bearish on the
Grangers-Moderate business
Done in whisky.
CHICAGO. Feb. 23.-Wheat advanced
11c today, and closed with a gain of 1c
for May. Free selling caused an early
decline, but better cables. light recei pts.
better export c~learances and free buy
ing aided the bulls in scoring a decisive
victory. The other markets did not
share in the advance. however. May
corn closed &c lower, May oats sc
lower, and provisions lower for pork
and ribs. and unchanged for lard.
The opening for May wheat was at
604c, with a sale or two al 60ssc. There
was more for sale than was Immediately
wanted at those prices, and after a short
struggle, in which Pardridge and Leem-
ing, Linn, Champlin and Capt. Phillips
took part on the bear side at around
OJt4C anu OO/S', a ACSiiilS ~ O'/4N "oo
effected. At that point the market
turned upon the pursuers and rended
them. There were bids for hundreds of
thousands, and only thousands for sale.
1t bounded back to 604c again, and
after an animated struggle at between
that price and 60c it began an advance
which, with some reactions, did not
stop until about ~ O'Clock. rSiXty-one
and three eighthS cents was the trading
price for a few seconds. Nat Jones was
a buyer of a considerable quantity. on
the first decline. and did not stop un-
til the buying wave had become quite
general. The Northwest was quite i'll
accord with the bullish feeling here.
The strongest feature of the days
movement WaS the comparatively light
receipts of wheat in the Northwest and
at Chicago. Here. the cars inspected
since Wednesdays report number only
81 cars. Minneapolis got 229 and Du-
luth %, compared with 533 at the former
and 20 at the latter Oh the corresponding
day of last. year. Export clearances
from the four principal. Atlantic ports
amounted i'll wheat and flour to about
$50, 600 bu since previously reported.
The Liverpool market was frmer and
from I'D to Id higher. Paris was from
So to 40 centimes higher for flour and
from 10 to 20 centimeS higherfO wheat.
At Berlin wheat had declined = mark.
There was a reaction here from 6119 to
60$lc, but it had another sudden upturn
again to about its previous highest
price before 1925 O'clock. The closing
price for May was but PC from the
days top figures.
In corn there was very little life or
49, N-~~A ~ sIAn ~ ~f-A lIR
dull all day, with fluctuations very mar
row. Operations were practically all
local and in small lots. the price keep
ing within the range of privileges. No
news or important factors were pre-
sented that had any weight or Influence
on values, the market not even selling
up much with the bulge in wheat. The
tone was about steady, opening transac-
tons being about the same as Wednes-
days closing figures. and after selling
down &c rallied Is @4c. became dull
and slow, closing with May sc from
the bottom.
There was a moderate trade in oats.
and a stronger feeling at one time,
prices ad yancing &c with wheat from
the lowest point, which was sc below
the close on Wednesday, but later re-
coded and finished easy. The predic-
tiOns of 235 cars tomorrow took the edge
off the market. and May closed only sc
| above the bottom figures Of the day.
Provisions opened easy OF a liberal
run of hogs ut the yards and lower
prices for them. A little buying by the
commission houses was responsible for
some firmness early, especially in lard,
with some OF the packers selling. i he
undertUne was strong in sympathy with
wheat, While the volume OF trading was
light, a dull feeling prevailing. with
indications Of he%avIness later on and a
disposition to sell. Subsequently pork
was offered down to a moderate extent.
lard and ribs declining in sympathy.
As soon as the offerings were with
drawn the market reacted and ruled
steady but dull. closing steady for pork
and ribs and easy for May lard, with
the nearby deliveries strong. Compared
with Wednesday night. May pork is
1870 lower, May lard unchanged and
May ribs 215c lower.
Estimated receipts for tomorrow:
Wheat. SO cars; corn, $50 cars; oats, 225
cars; hogs, 20, 900 head.