The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-25
CENT AND A HALF ADDED TO THE
PRICE IN THE CHICAGO
PIT.
LIGHT NORTHWEST RECEIPTS
STARTED THE SENTIMENT OF THE
MARKET TOWARD THE buy
ING SIDE.
avsIEAT PACE PROVED SPEEDY.
Coarse Grains and Provisions Were
Not Able to Follow Along and
Lost Fractions.

CHICAGO, No. 24-Wheat had all kinds
of statistical support today, and was bene-
hted to the extent Of a 112c advance in the
May option. Two of the big features were
small Northwest receipts and estimated Euro
pean requirements from this country of IT,
600 600 bushels Of wheat per month for some
time to come Other markets, however, failed
to follow this lead, corn declining Kc oats
advancing 1sc and provisions declining 90
71ac. There was a firm undertone in wheat
from the start although the news was not
especially exciting, not unusually bullish.
Sentiment was apparently friendly to the
buying side. The first Liverpool cable quoted
the ''consumptive demand disappointing" al
though quotations were a higher. The open
ing strength came altogether from the North
west. Minneapolis and Duluth receipts were
only 562 cars, compared with 1888 a week
ago, and ], 112 cars on the corresponding day
Of the year before. Chicago receipts today
were SO cars, a year ago they were 489. Here
at last was something tangible as to the
real situation in the Northwest. 1t gave sup
port to the assertions that only one-third Of
the crop was left in primary hands, and
traders were not slow to recognize this fact.
The second cables, however which showed a
I'd decline, rather put a damper upon the
spirits Of the spectators, and sharp, though
temporary, decline followed.
Opening figures for May were at S01a@
S07sc, as compared with yesterdays closing
prices Of SO12c, and a decline to S0Ac fol-
lowed. A dispatch from New York. which
quoted December wheat at Liverpool Cd
per GENITAL higher than it closed at yester-
day, caused a sudden jump in prices. AL
though this was soon known to have been a
gross blunder, other news of an almost
equally sensational character had meantime
been received and kept up the advance which
had been started. The worlds visible was re-
ported to have increased only / 427, 900 bush
els, there having been an increase in and
afoat for Europe of 2,624,O00 bushels, and
a decrease Of 1877, 900 bushels on this side
After this announcement May, which had
previously risen to slice, advanced quickly to
621sc. Another item Of great strength was
the Liverpool Corn Trade News estimate that
the United Kingdom and continental Europe
would require from this country II 900 600 bu
per Month until July l. The result of this
was a further advance to S2Ac Near the
close reaction to 817s@S2c followed pr;n-
cipally from prQft-taking. At that figure
the market closed.
Corn was heavy and inactive, and with ap-
parent difficulty maintained itself at about
Ac below the closing prices of the previous
Gay. The great strength in wheat did not
90 much to influence it unless in the way of
preventing more material decline. The de-
mand for shipment east was said to be dis
appolntingly small, and was one of the chief
reasons for heaviness. May started I'M
changed at 2718G27Ac, and gradually sagged
-VISN' NANSl4lS easy d. AIQZf1Sc DlQ. In
oats the market was the dullest for a month
back, according to pit professionals. An easy
feeling existed early, but at the close prices
were steady to a shade better than given
at the finish yesterday. May opened a Shade
lower at 22Q221sc, sold to 2214c, closing steady
at 221sc. Provisions were firm for a while in
Ihe forenoon, helped by comparatively small
run Of hogs. but the desire to buy was soon
SATISFIED by the packers. English houses also
sold and the market gradually declined, not
Wlthstanding the fact that wheat was advanc-
ing sharply at the time. Nav pork closed
71zc lower at $751;; May lard about Sc
lower at $4.25; May ribs &c lower at So 97lb
ga. Estimates: Wheat, 40; corn, 140 oats
1856; hogs, 10000 head.
The leading futures ranged as follows: