St. Paul daily globe., 1895-04-16
RISE OF TWO CENTS
Wheat Starts in the Week by
Setting a Rather Hot
Pace.
COVERING BY THE SHORTS.
The Excitement in Oil and
Advance in Stocks Caused
Strength.
ACTIVITY IN THE STREET
Under Good Buying Prices in
the General List Moved
Steadily Up.
ACTIVITY In THE STREET

CHICAGO, April 15.-Wheat start
ed up at a hot pace today. making
&c advance, and closing 112c higher
for May. Covering by shorts scared
by the expectation of reduced
stocks, the excitement in oil, the ad-
vance in stocks and the general i'm
provement in speculative markets,
caused the strength. The other mar
kets followed wheat, May corn clos
ing 1ac higher, May oats &c higher
and provisions at slight advances.
The shorts in wheat were on the
run today, having apparently be-
come impressed with the idea that
stocks are pretty sure to be ma
terially reduced, and hence there
was small scramble to cover.
The meager offerings created a
good deal of alarm, and there were
rumors that Armour and other ele-
vator men were working the bull
side. All domestic markets were on
the rampage, and the bull sentiment
was still further helped by large
decrease in the visible supply, and
by the small deliveries in the North
west, as well as at other points.
The excitement. which has been
going on in oil for some time, the
advance in stocks, the general i'm
provement in speculative markets,
as well as reports that the North
west would show less wheat sown
than usual this spring ALI tended to
strengthen the feeling in wheat.
There was some reaction before
noon, but the feeling was generally
strong.
The foreign markcts were still
closed, but will be running as usual
tomorrow. The Minneapolis re-
ceipts were 155 cars today and Du-
luth got 63, making. together 218
compared with 263 a week ago and
4So on the similar day of the year
before. Primary receipts all told
were 23l, 900 bu, against 447 GOO bu q
year ago. The visible supply de-
creased 2,216,0GO bu for the week.
and the total is now 70.4S7. 900 bu
compared with 69,217, 900 bu a wear
ago and 76,096,000 bu at the corre-
spending time in 1893. The price
opened today at from 551bc to $3.50.
Inc close on Saturday was at 55c
sellers. The feature in pit was mora
the smallness of the offerings than,
the heaVneSS OF the amount that
was wanted. The demand increased
as 1t became more difficult to buv.
ana a great business was done in
the end. The price rose excitedlv
TO- 5bc, then up to 56hc, and in a
rev minutes it shot up from 561hc
TO 5Ic. A mere reaching ont hv
Pardridge's broker for some wbea+
caused the latter bulge.
The market quieted down after 10
CLOCK Realizing sales caused a re-
dclloh TO 5614cq56asc, but 561ac was the
closing rate.
Inc corn market was only slightly
responsive to the great strength in
wheat. II could not, however, ignore
the pulilshness of its neighbor. The
receipts, although 20 carloads over
saturdays estimates, are still very
ight Tor this time of the year, but the
concurrent demand for shipment is
even lighter relatively than the re-
celpts. The visible decreased 669. OOo
pushels Tor the week. May opened I'D
sc at 4oasc, advanced slowly to 46 cents
and reacted to $3.50, closing at 45s.c
The market for oats was an active one
Fluctuations We're ruled principally
py wheat and covered a range of &c.
May started at 2S3sc, sold at 2s1hc. ad
Vanced to 2S1sc, sold down again to 2Sc.
and closed at 2S9sc. July ranged from
211sc to 27l2c, closing kGKc higher at
2!Aq27$sc. Trading was generally
moderate most of the day, although
there was free selling by the country
and Bartlett-Frazier bought quite
heavily. The provision market was
dull, but firm with wheat There was
not much disposition to trade evinced
by either the packers or local specu-
lators, nor had the commission houses
many orders to fill. Pork opened with
gain of ~ cents, rose Sc more and
closed with the whole gain. Lard
made very little stir and gained only
219 cents, while the ribs almost stood
still, and in the end were unchanged.
The receipts for tomorrow are esti-
mated as follows: Wheat, 80 cars:
corn, $50 cars; oats, 25O cars; and
1900 hogs
The leading futures ranged as fol-
lows: