St. Paul daily globe., 1896-01-20
GOES STEADILY UP.
WHEAT GAINS NEARLY CENT
AND CLOSES NEAR TOP
FIGURES.
FREE BUYING IN THE WEST.
APPF cIENSION THAT THE SITUA-
TIoN WAS SHAPING FOR AN
y OTHER WAR SCARE.
CORN WAS FIRM IN SYMPATHY,
And Oats Ruled Somewhat Higher
General stock and Bond
Market.

CHICAGO, Jan. 18.-Wheat advanced stead
1 lily today, except for about half hour sue
ceeding the first advance it made. May
touched Gle a bushel and closed at 60Bc q
gain of 7sc. Corn was influenced by wheat to
the extent of &c. There was some disposition
to take profits on provisions and much less
buying on country account, with consequent
slight setback TO prices.
Wheat decidedly the leader today, in
terest in provisions having died away to a.
certain extent. The temper of the wheat mar
ket was very uncertain at first, however, for
after sudden squirt at the opening from 6OAc
Tor May to 6O3sc, it hung back and fell again
10 6oAc before an hour of the session had
passed. The business was largely local but
there were some buying orders from st. Louis
as the price was going up, and selling orders
from New York when it was on the fence
around 6012c and 609sc. The New York selling
orders and the letting go of considerable lines
Of long wheat by local bulls brought about
the reaction referred to above. But the mar
ket soon absorbed all the wheat offered during
the decline, and was again up to 605sc by IL
O'Clock. The second bulge did not stop until
6t% Q6O1sc had been paid, and after that ex-
perence the short sellers evinced DISPOSE
tlon to act with more circumspection than
they did on the first rise. The ail-rai pur-
chases at Duluth yesterday still lack con-
-nrmation, but the clearances from the sea-
Doard yesterday were heavy, and there was
said to be some foreign buying at New York.
and the same interest said to be buying
freely for spring shipment at Western points.
But the market got its chief strength from
the growing apprehension that the situation
was shaping for another war scare. The re-
port that a British squadron was on the way
to this country caused alarm among shorts.
and there was active covering and good in
vestment buying, while there was not much
wheat for sale.
Corn was fairly active and firm in spite of
the lower provision market, from which it
\ has been taking it's tone lately. At no time
during the day did the price for any delivery
: get below the figures it closed at yesterday.
May opened at 29c, against 2SA A@28Bc, closing
on the day before. 1t worked up during the
first bulge in wheat to 29429Ac, and then
back to 2Sa @2S2sc, getting up again on the
second rise in wheat to 29Q29bc and closed at
that
In oats the feeling was firm, in sympathy
with wheat and corn, and prices Ac
higher on May and 1Bc up on other deliveries.
May started bc higher at 1870, sold to
2O1sc and closed with sellers at that price
Business in pork was much smaller than
It was the three previous days, but interest
was still sufficient to keep good-sized crowd
around the center of action. There was an
Z absence of outside support, however, and
prices declined somewhat in consequence.
Prices started at decline of 10c in May pork
and 212c each in lard and ribs. At the close,
compared with yesterdays final figures, May
pork, 15c lower; May lard and ribs each 1Oc
lower.
Estimates-Wheat, 65 cars; corn, $50 cars;
oats, 2l5 cars; hogs, $4,000 head.
The leading iuLures ranged follows: