St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-31
BULLS RULE TREDAY
WHEAT TAKES ANOTHER Squirt
AND BEARS GET THE WORST
OF 1T.
EARLY CABLES WERE HIGHcR.
BUT MANIPULATION BY BIG OPERA
TORS WEAKENED THE
MARKET.
OTHER CEREALS GAIN A LITTLE,
While the Provision Market Was
Weak and Only Held Up
by Wheat.

CHICAGO, Jan. 30.-Wheat the center
Of attraction today and was boiling hot all
through the session. Bears again had decid-
eddy the worst of the struggle, wheat closing
about 1Ac higher than yesterdays closing.
Corn and oats each gained 1kc. Provisions
were weaker, pork, lard and ribs closing 2hc
lower.
Wheat was very nervous. The early Eng
Hsh cables were higher, and there were strong
continental markets, with good outside buy
ing, which started shorts to covering and
there was an early bulge to 65kc after hav-
ing sold to 6412c. But when the most press
ing orders were filled there was a halt in the
demand, which started some realizing and
short selling and the weakness was evidently
helped along by manipulation, in the interest
OF some of the big operators, and the price
went TO 64Ac. The market turned at this
point, when of the big sellers early be-
gan to cover, and the market started upward.
The news, too turned bullsh, while the in
terest increased and developed into excite
ment under which there was rallylof nearly
1%c from the low point. There had been a
considerable short interest created during the
first hour or two, and, in the rush to cover,
which followed, the price went up to nearly
&c.
Minneapolis reported that a considerable
quantity of wheat had been taken there for
prompt rail shipment to Boston, and ultimately
Tor export California wired that her stocks
had been reduced 100000 bu during the last
two weeks. The mills are starting up at Min
neapolis, and the -four sales this week were
reported at 100000 bbls
c'ose calculation was said to show that the
mllls were using $50 cars of wheat day, and
when az were started, as they will be next
week, the will require $50 cars day. leav-
ing very litl'H of current receipts for the gen.
eral trade.
Many of the big leaders turned active buy
ers as the session advanced, and there was
little wheat for sale. May opened about &c
higher at 64Ac, sold at 641ac, then to 65M0D
66c, and at noon was 653sc.
Inc market was neryousy strong during the
last hour, and May sold up to 663sc, finally
closing at 65%c.
Corn was moderately active and firm. but
the greater part of the strength could be
traced to the advance in wheat May, which
closed yesterday at 30hc bid opened this
morning at 3OA@302sc, dropped back and rose
again and closed at 304@3O9sc.
Inc market for oats was quiet with feeling
Hilner following the strength in wheat and
d. the close slight gain was noticed MAY
opened sc higher at 2lAc, sold down to 21c
advanced to 2l9sc, and closed at 21AO213sc
froVlslons-Market dull and inclined to he
weak out the strength of wheat lifted the
price little near the close and left only
55racei0nal decline as the net result of the
uays business. May pork opened PIC higher
sold OFF to 5000 and closed $1057IhG1O GO
May lard opened 21ac UP and closed at s5 Ss
May ribs opened unchanged at S. 37ih and
closed at S5.S5. ''a T''''7 ~ anu
,od Gsttimates.Wheat, 70 cars; corn, AS; oats
l9O; hogs 17,G00 head. -1'' 0"'''
Inc leading IuJureS ranged as folIoy,.