St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-17
STIFFENED AT CLOSE.
French Crisis Had a Bullish
Effect on Price Of
Wheat.
BETTER DEMAND FOR GRAIN.
Corn and Oats Show Little
Change--Deeline in Pro-
visions.
THE STREET WAS DULL.
Chicago Gas and Sugar Trust
the Only Stocks Showing
Activity.
THE STREET WAS DULL.

CHICAGO, Jan. 16.-After q weak ses-
sion wheat reacted at the finish today,
and closed &c higher for May, aided
probably by rumors of the French pre-
tenders activity. May corn closed un-
changed, May cats sc lower. and pro-
visions finished at sharp declines.
The receipts Of wheat were again
small. export clearances heavy. and
flour mills which have been closed for
some time reported rs preparing. TO
resume operations, but more wheat was
offered than there were buyers for, and
the price broke in consequence.
The opening price of May wheat was
Irregular from 57$tc to 575sc, not much
of ii at that time going for less than the
higher of those quotations, and for
some time the market took all that was
offered at 5715c and from that down to
Lice less. AS The session progressed,
however, the offerings increased, and
the early values could not be sustained.
1t dropped to 57Tc, and, although it
had a midday rally to 57$4 @57Tc. it was
again huggng the previous low
est price about thirty minutes from
the close. The foreign markets
were dull and a shade lower. A part
from the dizziness OF cables everything
else in the shape of news was bullish.
Chicago received 43 carloads, compared
with 1877 cars year ago. Minneapolis
reported receipts of 1874 cars and Du-
luth 81, or 1S5 together. compared with
210 cars on the corresponding day OF the
week before and 2S4 cars a year ago.
Primary market receipts all told were
2ll, 600 bushels, against 200 bushels
a week ago and 4l3,C00 bushels Il year
ago. The Atlantic port clearances of
wheat and flour amounted together to
the equivalent of 625,000 bushels. Prep
arations were being made to start up
more flour mills, both at Minneapolis
and Duluth, the former place wiring
that owing TO increased production this
weeks indications were that hot much,
if any, increase would be shown IN their
stock of wheat. A cablegram from
Buchanan, the American minister to
Argentine. to his friends Van Dusen
IL Co., of Minneapolis, put the export
able surplus of that country at l,000,-
600 tGhs, which means SO, 600, 900 bushels.
There was moderate buying at the
finish and May closed at 58c. helped
perhaps by the French troubles.
The corn market was weak duringthe
greater part of the day, but rallied with
wheat near The end and wound up
quite firm. The range in price was
narrow; it was kept within &c per
bushel. The estimate Of the eXportable
surplus of corn from Argentine Of So,
000.0 COO bushels from the growing crop
was used against the market, the eX
ports from that country last year haV-
ing been next to none.
Receipts here today were 166 cars.
only one of which graded contract. The
estimates for tomorrow are for 115 cars.
The opening price for May was 47@Q4Sc;
it dropped off to 475sc, and at the close
there were buyers at 4715c.
The oats market started with the
promise of a very quiet day, but before
half the session had passed raid hy a
few prominent speculative firms, aided
by the scalperS, caused considerable &c.
tiVitY to spring up and prices to decline.
The commission houses holding orders
to buy were on hand and bought freely
OH the decline. Toward the close their
free bidding rallied the market to within
B@4c of where it started. Norton,
Worthington and Bartlett Frazier
headed the early selling and Puff
Slaughter and Schwartz-Dupee were
heavy buy ers later. May sold from 81
to 3011c and up again to 3O3l@3o5sc,
where it closed.
The provision market was very weak,
the receipts Of hogs. which it was esti-
mated yesterday would number $4,000
head, and which then was considered
more than enough to cause weakness,
turned out 10 amount to $4,000. with an
other $4,000 promised for tomorrow. A
drop Of 20 cents in pork. 1873 cents in
lard and 10 cents in ribs was natural
10 the circumstances. At the close the
market stood at ne loss for pork and
10 cents each for lard and ribs.
The leadlng futures ranged as follows