St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-03-16
WILD AND EXCITED
Another Day OF Nervousness
and Rapid Fluctuations
in Wheat.
BULGES AND BIG BREAKS
Follow Each Other--A Slight
Loss Recorded for the
Day.
STOCKS RANGED LOWER.
Speculation Was Irregular,
but Trading Somewhat
More Active.
STOCKS RANGED LOWER.

CHICAGO, March 10. - Wheat
bobbed up and down nervously and
frequently today, breaks on realizing
following the bulges on bullish news,
and at the end May was but sc
lower than it closed yesterday. Most
of the selling was of the nature of
profit taking, the small shorts cover
ing freely On the soft spots. Corn
was dull, dosing unchanged, and oats
were duller, also finishing without
change. Provisions were excited
and advanced sharply early, but
broke later, closing at declines.
The opening of the wheat market
was made under some excitement.
There were some sellers and hosts
of buyers at $3.50 for May, compared
with size at the close yesterday.
The briskness of the demand alarmed
number Of the smaller shorts, and
in about five minutes the price had
advanced to 5Sc. There being mill
ions of wheat held by the local crowd
in the pit, which had a tempting
profit in it at 5Sc, it was all for sale
for about fifteen minutes, the con-
sequence of which was a tumble to
572sc inside of the time referred to-
The crop damage reports of the day
and the buying Of wheat in the West
ern cities by country millers, whose
mills are at points where there
should be ample farmers supplies,
were supplemented this morning by
strong cable advances. The market
acted feverishly and unsettled, with
frequent and quite considera bic f1uc-
tuations, 57Ac and 574c being con-
SecutiVely the prices several times,
and the range extending to size and
5S twice during the forenoon. Mill
Ions OF bushels We're wanted on each
drop to 571sc. and just as much for
sale at 5Sc. The primary Western
markets received in all 335 600 bu.
The export clearance from the four
principal Atlantic ports were again
light, comprising $4,000 bu of wheat
and enough flour to bring the total
up to 10000. The heavy spring
wheat receipts and the small Allan
tic port clearances were the only
points favorable to the bears. but
these were enough to keep them
from giving UP the ship, and they
made savage drives at the market
every time it appeared to be on the
eve of soaring out of the bounds.
The closing cables were firm. and
this helped the bulls. but in the last
lew minutes Of the session there was
heavy realizing, and May closed at
571sc -.
The corn market was stale and
uninteresdng. The traders were in
different, as rule, and the range of
prices was slight. The highest price
made for May, and that was within
a few minutes of the opening. was
462s@46%c, and the lowest, which
quickly followed, was 46Ac. The
opening was 461ac and the closing
46h @463sc. Fluctuations followed
those of wheat, while the oats market
attracted even less attention than
ever. Fluctua tons were rather mar
row and followed corn entirely. Nav
started at 295S@2S$4c, sold at 29Mc.
down to 29asc, up again to 29%c. and
closed at 291Ac bid. Today's re-
ceipts We're Isl cars, of which 129
graded contract.
The provision market was nerv-
Gus and irregular. The price went
UP with a rush at the opening. with
Armour heavy buyer, and surged
up and down at every transaction.
according as it was bid for or Of
tered. Commission men found great
trouble in filling orders satisfac-
torlIy, and it was impossible to get
the nominal market price. whether
the order was to buy or sell. Nav
pork was sold at the opening mo-
ment at $12.25 and $12 rs at the same
time, and broke back to $12.121h. and
UP again to $3.50 before it settled
down to somewhat Steadier de-
cline. 1t finally got down to S11 .971b.
and closed at that, as compared with
S121212 at the close yesterday. Lard
III the end had lost 219c, and ribs
We're unchanged. The course of
prices was mysterious, giving evil
dence Of manipulation.
Estimated receipts for tomorrow:
Wheat, 40 cars; corn, 1913; oats. ITO:
hogs, $4,000 head.
GOTHAM PIT EXCITED.
NEW YORK, March 15-Excitement
In wheat ran high this morning, and
while the market did not show any
violent changes as to price, there was
an active business within &c range.
which amounted to $500, COO blu before
noon, and total for the day of over
100000. The early activity was the
result Of a lot OF scared shorts all try
ing to buy wheat at the same time and
fearing that there had been SIAM
pede of some Of the big Chicago shorts.
Foreign houses sold the crowd all thew
wanted, however, and little more. too.
for in the afternoon after another
sharp advance OH reports that this
country had demanded an apology
from Spain, the market took a sudden
tumble and inside half an hour dropped
almost cent, closing weak at the
lowest point OF the day.
ihe leading futures ranged as foIIoWs.