St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-04-23
BULLS Get EXCITED.
Wheat Went Up With a Wild
Rush From the Very
Opening.
BULGE OF OVER TWO CENTS
Before Shorts Were Satisfied
and Markets Relaxed a
Fraction.
STOCKS ALSO MOVED UP.
Coal Shares Being Notably
Strong--Volume Of Trade
Increasing.

CHICAGO, April 22.-After wild
squirt at the opening and a slump
in the middle Of the session, wheat
closed 13se higher for May today.
Heavy buying, largely by shorts,
caused the advance. May corn
closed &c higher, May oats 1sc lower
and provisions at slight advances.
Wheat started up with a wild
rush, opening trades being at 113c
advance Every one wanted to get
May at Size and July at 6215c, and
sellers even at such tempting adj
Vances over Saturdays prices were
few. Almost instantly &c was be-
ing bid for May and CSC for July,
and it was only then that it was
found possible by the greater num-
Der of the brokers having buying
orders to find plenty Of sellers. The
onrush to buy had obtained such an
impetus, however, that 62Ac and
63Ac for May and July, respectively,
were paid before the trading got
into regular swing. The last
named prices proved the culminat-
ing point Of the advance, and it
took only five minutes from the
start to reach it. The excitement
gradually subsidized, and, having
done so. the crowd began to look
around for the cause of their alarm.
Liverpool sent quotations of an
advance there of 11ad to I'd per
Genital. Showers had visited the
large area of the winter wheat
country since Saturday; the North
western receipts at Minneapolis and
Duluth numbered Alt carloads, COM
pared with only 17S cars a week be-
fore. and 145 cars on the CORES
ponding day of the year before
The total of the days primary mar
ket receipts was 215,OOO bu, against
237 600. Export clearances were
SO6,00O Blu inwheat and flour together
from Atlantic ports. The visible
supply decreased 1861, 900 blu, against
a decrease of 1872, 900 blu at the cor
responding time of the year before.
The English visible supply de-
- St~''NNt i,-oVbOOO DO 1Ol Tic week., the
amount on ocean passage increased
l,9IO,900 blu. Argentine shipments
for the week were 1,S40, 600 Blu, COM
pared with 2,616, 600 bu on the week
before.
On the increase on ocean passage
ana. the. visible. supply decrease of
about 100000 blu less than had been
looked for, the price of May slumped
10 603sc in an irregular and unWill-
ing style, but buying on a large
scale set in again and carried the
price back and up to 613sc, which
was the price it closed at, July
closing at 623s@621sc. Many million
bushels of long wheat, perhaps as
much as 30,OO0,OOO bu must have
been sold today.
Shorts, where their presence was
comparatively unsupported. have de-
Veloped themselves in the corn pit in
large numbers. The demand for that
long time neglected cereal was sur
prisingly brisk when the market open-
ed, as an advance of 1c in May and
July at the start will indicate. The
first prices were 1890 and 4S2!c re-
spectively, compared with 471zc for
May and 4iAc for July at the close
on Saturday. These prices were.
quickly raised to 4S7sc for May and
4S12c for July, and those proved to be
the highest points of the days range.
subsequently there was a decline in
May to 411s and in July to 4Sc sellers,
but in the end May had recovered
again to 4S14c and July to 4SAc. both
prices being bid as the session was clos
ing
Oats started very firm and active.
Shorts were still anxious and bought
freely. The advance in wheat and corn
also figured conspicuously in creating
higher prices early in the day. Nav
started at 293sc and sold at 29a4c. Ele-
vator people took advantage of the
high prices and disposed of their hold
fnSs almost regardless The price soon
dropped, and during the decline and at
the lower prices buying was resumed
ana increased. y wild and panicky
session was passed from that time on.
Stacking up slightly at intervals, but
fesumIng again with greater activity.
May sold off to % and closed at that
price, july delivery attracted the great
VI part u the atlent1On. AT the open
Ing sales were made from 29&.c to
29Ac. The decline took the price to
2Sssc, the rally to 28zsc, where it rested.
&c under Saturdays last quotation.
The visible supply showed an increase
in oats of $4,000 blu. which was quite
influential in aiding the late weakness.
The provision operators had not a
very active day, but under the stirnu-
Ius of the big business doing in wheat
and corn a moderate demand !sprang
up. Hog receipts were $1,000 instead of
10000 estimated, but for tomorrow's
run only 5000 are expected. Opening
prices for pork, lard and ribs showed
advances of 15c in pork and TIC each
in lard and ribs. The first sales
brought about the best prices of the
day. At the close pork had established
an advance for the day of &c in May
and 10c in July, lard Ice and ribs from
7l2c in May to &c in July.
Estimated cars tomorrow: Wheat. 4s
ears; corn, 326 ears; oats, 234 cars; hogs.
$1,000
The leading futures ranged as fol-
lows: