St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-04-14
FIRMN ESSIN WHEAT
Bear Scare Regarding Damage
to Grain in Vessels With
out Foundation.
OTHER BULLISH FEATURES
Tended to Aid in an Advance
Provisions a Shade
Higher.
LIVELY IN WALL STREET.
Market Showed Steady1Gain
in Strength--Priees Nov
ing Upward.

CHICAGO, April 19.-The wheat
operators becoming convinced that
the wheat which was loaded into
vessels here in the winter was all
right and of unblemished charac-
ter, the market became firm and
closed &c higher today than it did
on Thursday Corn and oats were
very weak Corn closed &c lower,
and oats 1se LAWYER. Provisions ruled
steady and a shade higher. The
same disturbing element which set
the wheat market in ferment on
Thursday afternoon was worked
over again this morning, and was the
principal point in creating the early
fluctuations. 1t was discovered that
after having partly unloaded the
400, 900 blu Of wheat which it was said
was to be put back into store in
stead of being sent to Buffalo on the
original charter, the owners of the
grain had ordered the unloaded por-
ton of the cargoeS back into the
vessels again, and the vessels to pro-
coed with it to it's original deStina-
ton. That gave the bear operators
opportunity to work a scare on the
other party, and they immediately
started a rumor that the wheat was
being reloaded because it would not
on reinspection grade No. 2. Upon
inquiry at the firm of vessel agents
who made the charter they confirmed
the reloading of the wheat, but said
the wheat was in the best of order
and weighed 62 pounds to the bu
The opening price for May was
54%c, at which price the buying or
ders exceeded the selling. The price
worked gradually upward to 55Bc,
and after reacting once to 547sc, it
alternated during the greater part
of the remainder of the session, 55c
bid and 55c sellers, and closed finally
at 55c sellers. The movement OF the
crop was in favor of the bulls. The
weeks shipments of wheat and flour
from both coasts amounted to 1884,
179 blu, against 1888 on the pre-
viouS week. The clearances from
the Seaboard were equal to about
for two days were only 302,0 900 bu
r. G. Dun & Co. say that in the last
two weeks the primary market re-
ceipts were 2,0SS,000, as compared
with 4,223,000 on the corresponding
two weeks of the year before
Corn was weak. The receipts by rail
were 10000 blu, and $500 blu came in
by canal. The Western primary mar
ket receipts for the past two days
were 273,G00 blu. The bears were out in
force, encouraged by the favorable
weather and light Eastern demand.
Led by Capt. Phillips, they poured
short corn on the hands of bulls until
they overwhelmed them, and at the
close the lowest prices of the day
were recorded. May opened at 455sc,
sold at 45%c and closed at 45Ac. In
oats, between good short buying and
continued disposing by longs, sales
were numerous and readily effected
The market started about steady.
Later, the offerings became more gen
eral, and a reaction occurred May
sold from 2S5sc to 287sc, and closed at
2S12c, after selling at 2Sssc. July opened
at 271sc, advanced to 27ss@271kc, de-
clined to &c and rested at 271sc. The
provision market ruled quiet. with
| quite moderate fluctuations. The
| smallness of the receipts of hogs was
the ruling factor, as before, but the
weakness Of corn was a restraint of
| moderate extent. Pork, compared with
Thursdays final prices, closed with a
| gain of from PIC to sc. Lard is up
correspondingly and ribs SC higher.
Only $4,000 hogs are expected next
week. Estimated receipts for Monday:
| Wheat, 80 cars; corn, 1876; oats, $50
hogs, 10000.
The leading futures ranged as fol-
| lows: