St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-04-06
BULL WAVE SWEEPS ALONG
MAY WHEAT MARCHES UP TO SIXTY
FOUR AND A HALF.
CHICAGO LOCAL CROWD SHORT
p. d. Armour Gives Out a Bullish
- Talk and the Boys Copper the
Tip Much to Their SORROW
Y Pardridge Turned Buyer and a
y STAN pede Ensued-Bear Raid
on Stocks Does mt Pan Out.

~ STAN pede Ensued-Bear Raid
on Stocks Doesn't Pan Out.
Sse CHICAGO. April 5.-Another wave OF
the bull swell. in the wheat market to-
day sent the price up to 6415c for May
and 6614c for July, as against 6216963c
and 6499sc respectively at the close of the
market yesterday. The local crowd
started with the "sure thing" OF "cop-
pering" bullish statement given out
by Z. ID. Armour for publication. They
wound up with the sad reflection that
the latest from the shrewd merchant
referred TO violated the rule, and that
they got caught trying to work an ex-
ception. Crop news was OH tap to suit
any and all tastes. Some of the shrewd-
est and heaviest local spectators sold
wheat short near the opening and have
II yet to buy back. Corn and oats caught
on to the wheat boom. Corn is nc
higher. Provisions were strong, but not
very active.
Wheat after the close of Yesterdays
session until the opening this morn
ing could scarcely be restrained 1t
was in yeasty condition OH the curb,
With May wanted at from 6316c up to
63Sc by such brokers as had imperative
buying orders from country customers.
When the market opened this morning
1t was known that there had been a
break of about cent in the price of
wheat at San Francisco yesterday, which
was ascribed to Indications of rain OH
the Pacific coast. That brought out
liberal offerings here at the start, but
there were plrnty of buying. orders at
The same time, and The first transactions
were irregular aud at from 6514c to
63ss C, compared with 625S@6Sc Mt close of
business yesterday. There was heavy
business don. i'll the first hour. Mill.
ions were wanted, and there were mill
ions for sale. The price during that time
wabbled between 625sc and 634c, with
heavy offerings and takings. The in.
fiuence of the reported prospect of rain
In California kept increasing. however,
and the market turned quite heavy.
Some OF the big local spectators placed
the buyers with short wheat. Among
those were K. Partridge, w. II. Linn
and n. b. Ream. There was IA gradual
decline i'll the covers of the forenoon to
625sc for May. July started with some
trade at Csc, and one as high as 65IIc.
but there was much more for sale at
65c than could be disposed of. While
May Was dragging at about 623Sc, July
sold at Gic.
Chicago receipts were ST cars, against
4S3 year ago. Minneapolis reported
-20S cars, and Duluth II, against 245 and
"a cars reSpe ctively last year. The four
principal Atlantic ports cleared 370, 600
bushels of wheat and flour together.
Q Foreign markets gave little response
10 the advance and tirmness ruling here.
Crop reports were conflicting, but
great many baying orders came in from
country points. and the local crowd. who
Fad worked all forenoon for a more Sc
rIous break. found out that wheat was
not plentiful at under 6219c. Partridge
commenced to buy at that price, and
general stampede of the shorts caused
the price 10 shoot up again 10 6314c for.
May. and to Csc for July. Baldwin.
sEafnum led the buying, which a little
later gave the market another boost.
May reached 65$4c about twenty min
utes from the close. Not until within
steir minutes of tile end did the bullish
sentiment which underlay the market
get full vent. but in that short time was
expended the pent up energy of a dav
OF patient waiting for an opportunity.
May was sent up with skip 10 6I15c,
and July TO 6614c, with 64%c and 6tjc
the respective trading prices at the
close.
Co wa dull. but in the main strong
The estimate receipts for tomorrow
being for only $50 cars was one reason
assigned for Il rise of about &c, which
occurred about 1880 o'clock. May
opened at 375sc, as against 3734c at the
close yesterday. There was some SELL
p1rlu " hich yoI off
opening figures, but when wheat tirmed
up near the end of the session 3S15c was
reached. The great bulge with which
wheat wound up caused panic to
strike the shorts In corn. and III few
minutes May had mounted 10 3S5Sc and
July to 395ss(03G34r, which was the trad
ing price 1T the close. There was only
a small business then expected in oats
The market was from &c to &c higher,
due to sympathy with wheat and corn.
May started steady at size and sold
gradually up to 3l54c. where it closed.
There was less activity in provisions
than for the TWO preceding days, but
the market was remarkably firm, and
the shorts continued to take the limited
offerings at the higher prices asked to-
day. The receipts of hogs. instead of
being $4,000. as estimated yesterday,
amounted to only 10000. and 1000 head
Is the total estimated for tomorrow.
May pork opened up 10 cents OH the
small receipts OF hogs, and the higher
prices they were bringing. There was
lively rally near the end on account
of the bullishness in the grain pits, and
the closing quotation was S12. 1919.
Compared with last night MAY pork is
114c higher, May lard SC higher and
May ribs 1910 higher. Estimated re-
ceiptS for tomorrow: Wheat, 60 cars:
corn, $50 cars; oats, 10U cars; hogs. 81
GOO.
Open-I High Low Clos
ARTICLES ing. est. est. ing.