St. Paul daily globe., 1895-12-24

TOOK A GOOD TURN
WHEAT RECEIVERS AN EARLY
DECLINE AND GAINS A
LITTLE.
INFLUENCED BY STOCKS.
SMALLER NORTHWESTERN RE
CEIPFS AND CONTINUED
RAIN.
INFLUENCED BY STOCKS.
PREDICTIONS OF SOME FROST.
Expectation of Congressional Ac-
ton on Finances Also As
sists the Market.

CHICAGO, Dsc. 23.-The wheat mar
ket was in fitful mood today, and
had a radical change in its temper.
II opened strong, tnen became very
weak, but wounu up by getting into
more pronouncedly strong state OF
feeling than ii started with. May,
from 5Slsc near the opening, feiI TO
5lI4c BID, and closed when 5Slsc was
the current trading price. Corn, oats
and provisions all showed resistance
10 any further decline, principally be-
cause OF a confident expectation that
congress would take prompt acuon 10
insure satisfactory conultlon OF the
currency.
y jump in stocks influenced the trad
erS in wheat on the early curb, and
the price tirmed up to 3Sc for May
before the regular session began, the
closing price on Saturday having been
5I'sc. Besides the rise in the price of
ralroad securities, the Northwestern
receipts OF wheat showed distinct
falling Off, and the weather was still
rainy over the winter region, with an
omnouS probability still hanging over
Il OF 4 severe freeze following the
lately prevailing wet weather The
prospective increase of l,OtO,HO bu in
the visible was diSreSarded or forgot
ten Tor about an hour after the mar
ket opened. but that Weighty influence
began 10 press for attention again be
fore another hour had gone by, and the
initiatOry feeling OF greater security
in the surroundings of the market gave
place TO Il renewal OF deSpondency.
Statistical matters connected with the
weekly movement We're rather favor
able for the bulls. The English visible
was estimated TO have decreased l.
S5O.0l0 bu, 100 GOU bu OF that being at
Liverpool. The amount on ocean pas
sage increased only 5000 bu. The visi-
BILE III this country and Canada in
creased 2,564,000 bu, after giving early
indications of an increase of LOCO 900
bu more than that.
After starting at from 5Sc up to 5Stsc
for May delivery, the price worked off
gradually because OF the big decrease
which was shown upon the bullion
board as returns came in for the max
ing up of the visible. 1t got down to
57l4c before giving any indication of
reaction. AT the latter point it turned
up again, first on the visible proving
smaller in its increase than expected,
and next on reports of forty-four boat
loads having been sold in New York
for export; on that the price near the
close had got up to 5Sl4c bid.
In corn there was some nervousness
regarding the January delivery, but
the fluctuations in its price were con-
fined to 4c per bu range. The deal
ing was largely of a scalping char
acter. The increase in the visible was
only 562, coo bu, against LOGS, 600 bu in
crease a year ago. The following are
the changes in values since Saturday:
December is sc higher; January about
Lie, and May is without change.
Oats We're steady to firm, with a good
demand for May at the low prices.
May opened al 19@l9lsc, sold at 1850,
declined to 187sMl9c, and rested at 19c.
Provisions were in improved demand
and firm at the best. Business done
was small. Packers were reported to
be giving the market a helping hand
in It's weaker morents, and dur
ing the sick spell which wheat Suf-
fered from in the forenoon, hog prod
ucts were held comparatively firm.
The advances for the day We're: Pork,
nc; lard, 214c for May; January un-
changed, and ribs had a similar gain
to lard ..-.-
Estimated receipts for tomorrow
Wheat. 235 cars; corn. $40 cars; oats,
230 cars; 2S,0O0 head of hogs.
The leading futures ranged as fol-
lows: