The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-26
RALLY At THE END
CHICAGO WHEAT ADVANCED
SHARPLY IN THE LATE SEES
SION DEALINGS.
1T OPENED AT A DECLINE.
pTCACEFII, OUTLOOK IN EUROPE
DEPRESSED TRADES AT THE
START,
PIT BULGED ON SHORTAGE STORIES
Good Cash Demand Also Contributed
Toward a Firm Close Three
Quarters Up.

CHICAGO, Feb. 25.-Wheat was very irregu-
lar today, but advanced sharply late in the
session on reports of small California stocks
and a good cash business, closing firm at $4c
advance Corn and oats were helped to the
extent of about 1sc each. Provisions closed
at prices a shade lower all around. Further
depression was visible among the wheat trad
ers at the beginning and during the first hour
OF the session. May, which closed yesterday
at 741kc was for sale at 7S9sQ7S12c when
trading began. 1t recovered to 1850, ana
from that it slowly receded to 1850, and
again took a second upturn, which stopped
at 74d741sc. After that it had a fresh sur
vey of the situation for while from a point
of view between the last named figures and
1870. The opening weakness was in large
measure the result of the more peaceful out
look in Europe. English consols opened 3-l6
higher than they closed yesterday, which was
the best evidence that could be had Of the
unikehhood of the Greeks and Cretans en-
broiling the great nations in their contest.
Liverpool gave evidence in the same direction
by an opening decline of sd and at no time
during the session did it show signs Of
strength. The only item in the early news
which might be construed in favor of the
bulls was the continued lightness Of the
Northwest receipts, Minneapolis and Duluth
reporting but 1873 cars against 465 last year.
Chicago received IL cars, against SO last year.
But there were plenty Of buyers at the open
ing decline, enough at any rate 10 start prices
upward Immediately. The traders a rule
seemed undecided what side of the market to
play. The Price Current report on the re-
serve in farmers hands, which was circulated
about half an hour from the opening, was
considered bearish, and naturally had
effect on prices. 1t not until a deluge
OF crop damage reports came in from st. Louis
that the market began to show its teeth to the
bears. After reacting irregularly to 1850,
May took Lap to 741sc, with scarcely
sale ~ c-lIng, on messages from San Fran
c GS1.s making claims that visible stocks in
California are down to % 900 tons, about
100, 600 Blu, compared with $4,000 tons last
year, and $50, 600 tons time in 1895.
There was additional scare remark about
jump in price of wheat at Tacoma. Cash
business was reported amounting to over no.
600 bu, and New York claimed II boatloads
for export. The market became very strong
toward the end, finally selling up to 747sc, and
closing firm at TAX Q747sc bid.
Corn ruled quiet, and while some of the
transactions were at a slight decline, the
firm feeling which developed in wheat grad
ually helped the market. There was some
selling on an expected freer movement from
the interior. Atlantic ports shipments were
539 900 bu. May opened hc lower at 241Ac,
% recovered to 24asc, and closed at 24A 9243sc.
oats were quiet with firm tone reported
and prices ruling a shade better; shorts
showed a mild disposition to cover and the
strength OF wheat BaS also of assistance;
May opened a shade lower at 17@171sc, and
advanced to IKE, where it closed. Provis-
ions were dull and barely steady. Hog re-
ceipts were light, and small opening advance
resulted, which was afterwards lost under
commission house selling. At the close May
pork was 212c lower. at $S.O21k; May lard a
shade lower at $4.0712@4.10, and May ribs a
shade lower at $4.15. Estimates: Wheat,
Is 600 head.
The leading futures ranged as follows: