St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-04-19
UP WITH A BOUND.
Scare Among the Shorts Sent
Wheat skyWard a Full
Cent.
The DIMINISHING RECEIPTS
Caused the EXcitement--CoPn
Shows Gain - Provisions
Decline.
STOCKS SUDDENLY WAKE UP
Activity Is Greater Than for
Months--list Shows Unu-
sual Buoyancy.
STOCKS SUDDENLY WAKE UP

CHICAGO. April II = Excited
shorts, sscaled by increasing ex-
ports and diminishing receipts,
drove the price of May wheat up 1c
today. Corn followed reluctantly,
gaining Nc, oats closed unchanged
for May and provisions finished
with slight declines.
Wheat started With convulsive
Jump today. The first bids for May
ran all the way from Size to 5Sc,
with very l9Jsia sale below 577sc, as
compared with 57Ac seliers at the
end of Yesterdays session. For an
hour there was free realizing by
the general crowd of longs, and an
equally widespread buying by the
scared sEol'ss and some other mys-
lteIlious Interest,", whilch took tie
offerings alt such times as the shorts
would withdraw to give the thing
a square chance to drop. The price
bumped on 575sc more than once,
and struck up against SIC on sew
ef'al occasions prior to II o'clock.
Once near t1e noon hour the fright
of the Shorts became rather hy2ter-
zeal, and they could not get enough
May wheat until they had bid 5S5sc
for it,
The figures of the days move
mert were quite encouragin to
holders. Minneapolis and Duluth
receipts wire 154 cars, compared
with 200 week ago and 1S9 on the
corresponding day of last year. Pri-
mady rec6iptS all told were only
1872, ia bu, compared with 216,000 bu
last year, ard the Atlantic port
clearances amounted in wheat and
flour to $4,000 blu.
The cables were firm. Reports
from the country were of reduced
acreage and poor appearance of the
winter wheat and of restriction in
the aren sown TO spring. In the
local pit situation it was OBJ
served that Fardridge WAS appar-
ertly unmow-'d by the advance
The trading of his brokers was not
heavy, and consisted of medera te
purchases Of May on soft spots,
and corresponding sales of July on
the bulges. He was called heavily
for margins by several houses and
responded with alacrity, merging
May up to around 63Ac ito 64e
blu, it WAS said. Closing cabIes were
firm. The market closed at 581k0
58Ac for May.
Corn was very quiet and prices prac-
tically refused to move during the first
hour or so of the, session, but later the
great strength of the wheat market
brought in buying orders, and fluctua-
tons after that were over a much wider
range. The opening price for May was
457sc, ard a few sales were made at
451ze. 1t kept between those prices the
most CT the first half-hour, then rose
to Acc, dropped again to 451lc, advanced
to 454@457sc, and closed there after
f1uctuating for a time between that
and 459sc
There was good general business
transacted in the market for oats The
main feature was the changing from
May to June. The result was an ad-
vance of nc in June, while May closed
barely steady, ana ruled easier princi-
pally. Armour sold freely early in the
session. The firmness in wheat and
corn governed the fluctuations in the
more remote futures, all of which end
ed at an advance. May sold from 2SA
@2SAc to 2Sc, up to 2S2sc and rested at
2SAc. July started at 271sc, sold to
2l3sc and closed Nc higher at that
price.
Provisions were weak early Oh lower
live hog prices and looked like going
lower than they did, if it had not been
for the sustaining influence of the
wheat market. Near the end it became
known that a big demand for cash
product existed and that heavy sales
had been effected, and upon that the
market closed firm at declines for the
day of 15c in pork, 10c in lard and TIC
in ribs.
Estimated receipts for tomorrow
Wheat, Is cars; corn, 26S; oats, 1873;
hogs, 10000.
The leading futures ranged as fol-
lows: