The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-05
BUSINESS WITH A BULL
RUSH.
ELECTION HELPED IT OUT.
WERE ALSO AN IMPORTANT
FACTOR.
THE ADVANCE NOT ALL SUSTAINED.
Net Showing for the First Day After
Election Was Half Cent
Advance.

CHICAGO, Nov. All the speculative
market suffered from the selling Of traders,
who had loaded up in anticipation Of an cleo
ton boom. Wheat started with a rush, but
came down equally fast, closing at a net
advance Of 12c. The other markets suffered
more, corn declining &c, oats &c and pro-
visions from 21ac to 15c. Two factors were
influential in causing the strength with which
wheat started. One was the result of the
election, which was very satisfactory to the
majority of traders, but there was much
legitimate encouragement in the fact that
the early Liverpool cables, which showed an
advance there since Monday of over sc per
bushel. The continental markets were also
higher. December, which closed at 75c on
Monday afternoon, could not be bought at
the start for less than TIC, and sellers were
able to obtain 771Ac in two or three in
stances. In five minutes later it was down
to 76Ac, and again inside of another twenty
minutes it was bringing 774@3sc. All outside
markets felt the enthusiasm of the moment,
and started off with an upward leap. Ad-
vices said that California wheat had already
arrived at Calcutta, and added that 1000 900
bu had been taken at San Francisco for In
dia account.
But on the advance the selling quickly as
sumed enormous proportions; that part of
the crowd which had gone home long Mon
day was confident that the election returns
would be satisfactory, sold heavily and took
profits at the advance. New York was the
heaviest seller. and large commission
houses had selling orders. Baker and others
OF the bull clique sold, though this was
doubtful. But there was enough for sale to
start the market off. A sharp break Of I'd
in Liverpool before noon, equal to 21ac per
Blu, helped the decline. During the last hour
the market had sharp squirt and sold to
the highest price of the day; this was due
to the much smaller increase in the world S
stock, as reported by Bradstreet's, than the
trade had expected-it being only $3.50 900
blu. December reacted to 775sc, but there
was sufficient selling to cause a decline to
7612c before the close.
Corn was quiet, and kept within a mar
row margin. Liverpool prices showed a
substantial advance. and this, with the
strength Of wheat, started corn strong May
| started about Nc higher at 29@291ac sold
down to 2Sesc, and closed easy at 2S%c. Oats
| followed much the path as corn. The open
| ing was at a slight advance, but realizing
| by spectators who had bought in anticipa-
| ton OF an advance after election soon brought
| prices down again. May opened nc higher,
| 28A@2819c, declined to 21Hc and closed easy
| at 217s@29c bid. Provisions were dull after
| the first few minutes. The closing was easy
at bottom figures, January pork 121hc lower
| at $3.50; January lard 15c lower at 81 .421s
| January ribs 21@c lower at So. 921h03. So. Els
| timated receipts Thursday, wheat It's cars;
| corn, 615 cars; oats, 435 cars; hogs, 26, 000
| head.
The leading futures ranged as follows.