St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-02-07
IS IT MANIPULATED?
BELIEVED BY SOME THAT POWER
Full OPERATORS ARE WORK.
ING THE MARKET.
WHEAT MAKES A SLIGHT GAIN.
this, TOO, WITH A SENSITIVE
MARKET AND but LITTLE
BUSINESS.
EARLY CABLES WE'RE BULLIsH.
Earge Northwestern Receipts Con-
tInue Flour Trade Reports
Not Encouraging.
WHEAT MAKES A SLIGHT GAIN.
EARLY CABLES WE'RE BULLIsH.

CHICAGO Feb. 6.-Wheat was surprise
% both sides again today, opening strong,
and, though losing some OF its early gam
closed nc higher than yesterday. 1t seems
to be the generally accepted opinion that
wheat is being manipulated by few power
full operators. Corn, oats and provisions
were all firm and closed with some gain for
the day. Wheat-There was not as much ex-
citement and the trade was not as large, but
the market nevertheless was sensitive and
nervous, the range for the day being 1c. The
trade, too, was mainly local, with less doing
for outside account. Initial trading was at
7aG4c advance, early trading in May being
at .6SG6SBc. The strength was due to a
cablegram from London acknowledging the
almost complete independence of the United
Kingdom for supplies until May, owing to
the late movement of Argentine wheat and
the fact of the Russian ports being closed by
frost. Cables were received from London
this morning which said Argentine was offer
ing wheat more freely and Russia was offer
ing heavy for April-May shipment. The lat
ter dispatch encouraged some selling and
caused a decline to 671sc, which, however,
the market quickly reacted from to 67Ac,
when Bartlett-Frazier sent two or three
brokers into the pit and took about 100000 blu.
The Liverpool market reported I'D high
er at the opening and I'D higher at the close.
The Northwestern receipts were again very
ances of wheat and flour were 300, GOO blu. Re-
ports concerning the flour trade were not en-
couraging. The Cincinnati Price Current
says that the weather last week was general
1y favorable for the crop. Reports regarding
Argentine wheat were conflicting. One set
of them claimed that continuous rains pre-
vailed, and were, of course injuring the
Crop and another that offerings from there
TO the United Kingdom had increased, but
were said to be chiefly for March-April de-
livery. good inquiry from winter wheat
miilers resulted in the placing since the close
of change yesterday up to noon today of 140,-
900 bu 60 900 Blu of which was for st. Louis
That assisted in holding the market steady.
May, after falling to 671sc, sold up to 675sc
and at noon was 6712c. During the last hour
wheat had squirt to 67%c, but soon sold off
to 6712g673sc, where 1t closed. The cash
business done with country millers was
swelled to 207, 900 bu before the close, and the
seaboard reported IA boat loads taken for ex-
port.
Corn was quiet, but the prospect of small
receipts for some time helped to give conf
dence to holders, and consequently a firm
undertone to the market. May opened about
asc higher at 305sc and sold Lice higher
ABOUT ai, the start and then settled down around
Sut2c Tor the remainder of the day and closed
at that Oats were Influenced good deal
by corn and sold higher and held fairly well.
May opened nc higher at 211b6215sc, split
weakened weak to 2l2s@211ac, split and closed at
Provisions were irmer on the prospect of
shlali receipts for some time come on ac-
count OF the fearfully bad state of the conn
Iy ROADS Good buying of ribs and lard by
packers also helped to sustain the market
She best prices of the day were made at the
opening, when May pork sold at s1O621b. #
closed l0c higher than yesterday. Lard
ribs closed sc higher for May.
Estimates for tomorrow-Wheat 66 cars.
fofn lou cars; oats, 50 cars; hogs, not given,
me reading futures ranged as Follows: