St. Paul daily globe., 1894-02-05
WHEAT CLOSED HIGHER.
STEADY E9CLISR cSBLES ASD SHIFTS
COVERING WERE TIE CAUSES.
apLENDID BANK STATEMENT.


Active Speculation on the Stock
Exchange-AIost of the Eusi-
ness Was Done in the Indus
trials, ST. Paul and Western
Unior-Sugar LED IN the Deal
ings. advancing TWO Points.
CHICAGO, Feb. S.-After weak OPEN
ng and an early decline, wheat was
irm today, and closed 14c higher.
Heavy Northwestern receipts and light
.learauces Tor the wesk were response
Die for the early decline. Steady En-
glish cables and covering by shorts
caused the reaction. May coru is un-
changed. May oats unchanged, and
provisions lower all around.
Wheat opened easy. with May &c
lower, at 6411sc. and soon sold of TO 64c.
The Northwestern receipts were larger.
Minneapolis and Duluth reported
total OF COZ cars, compared with 81 OH
the corresponding day last year. The
clearances OF wheat and flour for the
week from both coasts, according to
BradStreet'S. amounted 10 20S3. 900 bu,
against 2941,000 bI on the previous
week, and 3,12+,145 bu on the CORE
spending week Of the year before. But
after reaching Ole 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
little wheat. There VAS nothing definite
aScertained as TO what was being done,
any more than there mas 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 &c from the top. May opened at
6416e, declined 18c, advanced sc, and
reacted 15c 10 the close at 641ac.
In corn there was very light specu-
latiye trade. the opening being espe-
cially dull, and the market all day was
quiet and featureltSs. 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 tirned &c later on
the price being helped by the action OF
wheat. The market then ruled ex-
tremely quiet, and closed with May but
sc from the days Top figure.
In oats there was more good buying
than OF late aud a firm feeling most OF
the day. The opening was easy at the
decline for May, bat advanced &c, and
closed steady at I c from tie top and at
the same prices aS on yesterday. The
fluctuations were entirely in sympathy
with wheat.
Provisions opened higher, especially
for pork, on the runOf hO@S at the yards
being about 4,OJ0 less than estimated,
but there was no stability III it III the
absence OF support. Free offerings later
on were responsible for a break with
scarcely any trading. As soon as prices
were hammered down low enough to
suit the bears. they turned buyers, tax
ing considerable quantities of pork at
the decline. Lard was also offered free
lY with fair huying, slightly lower
prices. The packers were sellers 10
moderate extent and two prominent in
StItutlonS were buyers. At the close
pork ruled steady, lard firm and near
at the inside prices. Compared with
last night May pork is 121lc lower. May
lard 215c lower and May ribs Zoe lower.
Estimated receipts for Monday:
Wheat, 50 cars: corn, 604 cars; oats, 164
cars; hogs, 2S.LG0 head.
The leading futures ranged as follows: