St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1896-01-26
BULhED 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.
LocalsHiarkct Stronger, Though Lit
tie Improvement Is Shown by
Cables.
WAS A DAY OF EXCITEMENT.


CHICAGO, Jan. 25.-Trading in wheat today
was enormous. May wheat wound UP 112c
higher than it was selling for at the END of
yesterdays session, and about &C higher than
it was q week ago. That it all due to
ArmoUr's manipulation was the general opin-
ion of the local crowd. The other markets
were strong in sympathy with wheat, corn is
up 11sc per b., and oats are 1c higher. Pork
gained 271zc per bill; lard 10c per 100 lbs,
and ribs 1214c.
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-
ment, apparently, more than the news, which
gave the market the big bulge. Cables were
only tritie better, though the situation
abroad was more peaceful. There were no
wheat clearances from New York and about
000 BID in wheat and -four from both
coasts. In addition to this Argentine was
said to have shipped 900 blu during the
week--he 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 soon
got on the run, 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 63%c down to 63l2c, but at the lower
Of those prices the offerings were confined TO
few fiyes, for which there were twenty
buyers for every one offered. Before a few
preliminary plunges and recoveries between
mr. fh.l Ty-inn tAnlr cl1C
CSC, reaching these inside of the first forty
minutes. The fact that the exports from both
coasts for the week were 600, 900 bu larger
than last week, and another large decrease
in the visible is expected exercised power
ful 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 -Ioke of battle
from a quiet nook. But the bull sentiment
seemed to be in the air needing but a 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
ut e3%c sold at 6312c, up to Csc, off to
645sc. then up to 657sc. and closed at'655sc.
Corn was fairly active, but all its strength
clearly came from sympathy with wheat
May opened unchanged at 29$4c sold at 29b
@29azc, and then toiled to the rise in
wheat until it got up to gle just as the mar
ket was closing. A very active market was
reported for oats. The feeling was strong
and prices followed the fluctuations of wheat
and corn closing full cent higher at 21Ac
bid.
Provisions were strong and fairly active
and, while there was very light run of
hogs, which of itself was 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 714c UP from
$10.7215 to s10.75, dropped to 5000, and then
gradually worked up to s10.95, and closed at
S10.921h. Lard for May rose from $685. to
$6O21s, and was bringing the top price at the
close May ribs ranged from $5.32i405.35 to
s5.471a closing at the latter point
Estimates: Wheat, 50 cars; corn, 80; OATS
30; hogs, %, 600.
The leading futures ranged follows:
Open- High Low Clos