St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-27
BULLED BY ARMOUR
WHEAT TAKES ANOTHER Squirt.
GAINING A CENT AND A
HALF.
WAS A DAY OF EXCITEMENT,
SHORTS ARE FRIGHTENED AND
\ THE DAYS TRADING IS ENOR-
NOUS.
STOCKS REGAIN CONFIDENCE.
Local Market Stronger, Though Lit
tie Improvement Is Shown by
Cables.

r CHICAGO, Jan. 25.-Trading in wheat today
was enormous. May wheat wound up 1Rc
higher than it was selling for at the end of
yesterdays session, and about &c higher than
1t was week ago. That it all due to
Armour's manipulation was the general opn-
ion of the local crowd The other markets
were strong in sympathy with wheat, corn is
up nc per bu, and oats are 1c higher. Pork
gained 2715c per Dbl; lard 10c per 100 lbs,
and ribs 1215c.
1t was day of high excitement through
out in the wheat crowd. Quick nervous
flashes of Impotence marked the varied
transactions, and big traders stormed through
the turmoil of the pit in their eagerness to
seize the key of the enigma 1t was senti-
fment apparently, more than the news, which
gave the market the big bulge. Cables were
, only trife better, though the situation
abroad was more peaceful. There
wheat clearances from New York, and about
10000 blu in wheat and -four from both
coasts. In addition to this, Argentine
said to have shipped 200 blu during the
week-the highest for some time-and private
cables were received announcing that the
port OF Odessa was opened and that wheat
shipments would soon be resumed. The
Northwestern deliveries 435 cars were larger
than week ago, and the general primary
deliveries also liberal. But all this could not
repress the energy of the bulls, and there
was such wild buying that every short
got on the rum and there was an exciting
struggle to cover. while there was hardly any
Tor sale except at what seemed to the buyers
fancy prices, but which they finally concluded
to pay Right at the start there were sellers
at from 63Ac down to 63Hc but at the lower
OF those prices the offerings confined to
a few fves, for which there were twenty
buyers for every one offered. Before a few
! preliminary plunges and recoveries between
Z 63%c and 64c, the price took a shoot up to
l65c, reaching these inside of the first forty
minutes. The fact that the exports from both
coasts for the week were 900 blu larger
than last week, and another large decrease
in the visible is expected, exercised a power
full influence in starting the boom. Brokers
generally credit the almost lightning-like ba-
rometric changes to Armour's influence, and
many withdrew to view the s.aoke of battle
from quiet nook. But the bull sentiment
seemed to be in the air, needing but little
encouragement to keep it going. On the bulge
some of the big buyers began to hesitate, but
the crowd had got in line, and the momentum
still carried it upward May opened &c low
: er at 63Ac sold at 631sc, up to Csc, off to
] 645sc, then up to 65%c and closed at 655sc.
Corn was fairly active, but all its strength
clearly came from sympathy with wheat
May opened unchanged at 29Ac, sold at 293s
@29&c and then toiled on to the rise in
wheat until it got up to SIC just as the mar
ket was closing. very active market was
reported for oats. The feeling strong,
and prices followed the fluctuations of wheat
and corn, closing full cent higher at 21Ac
bid.
froVlslohs were sTong ana ialrly actVe
and, while there very light run Of
hogs, which of itself suggestive of higher
prices, it took the excitement and bulge in
wheat to give the shorts sufficient fright to
drive them in. May pork opened TIC UP from
$10.72h to $10.75. dropped to 5000 and then
gradually worked up to $1O.95, and closed at
$1O.92k. Lard for May rose from $595 to
$6.O2h, and was bringing the top price at the
close. May ribs ranged from $5.3212@5.35 to
$5.47h, closing at the latter point.
Estimates: Wheat 95 cars; corn, 80; oats.
210; hogs 2S, 0G0
The lending futures ranged follows: