The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-26
NET GAIN OF A CENT AND A HALF
MARKET SUMMARY.
FINANCIA.

CHICAGO June 25-Wheat was again
stroIA'y affected by the Bog!e man of the
shorts-fear of July manipulation. The re-
suit was seen in a good many violent nuc-
tuations, and a closing advance of about 112c
IN July. Other grain and provision markets
were neglected: corn closed unchanged; oats,
&c lower and provisions 2l4@5c higher
In wheat the main question was again the
July deal and the trading in that future
soon disclosed the fact that it was all alive
and stuffed with dynamite. September got
some advantage from the rapid!ty Of the
Opening bulge in July, but the former pro-
ceeded at q quite le!surely pace, while the
latter was scattering the shorts by the force
Of its explosion. Apart from the attitude of
the July future the influence of the early
items of news was generally bearish. Liver
pool showed only a I'D advance in response
to a I'D rise here yesterday. The most
bearish feature of the situation, however,
was the home harvest prospects. A winter
wheat crop of over 300 000 blu is gener-
ally admitted. and the news from the North
west was that the spring wheat in the Da-
kotas. Minnesota and Manitoba was making
excellent progress. On the other hand, New
York reported foreigners buying futures and
reports Of damage by storms were thick from
South and Southwest. Chicago receipts of
got 267 cars, against 416 the corresponding
day of the year before. July opened at from
697sc to zoe compared with 70$s@701bc at
the close yesterday. 1t lowered for a few
minutes between 70l4c and 703sc, and then
shot up to 7l1c like the cork out of a
champagne bottle. There was plenty for sale
at the latter price both then and on other
occasions during the forenoon when, after
downward reactions, it came back with a
rush to that point again. On of the
latter sudden recoveres its impetus could
not be stopped until it got to 717sc. During
the considerable intervals when the hands
Of the man!pu.ators were idle, the price was
inclined TO sag, and trading was very light
but highly sensitive to order for more
than 5000 bu 10000 blu. The best prices
Of the day were made about fifteen mn
utes from the close. Several prominent
houses were heavy buyers, and in the general
hauling July shot up to nc. The closing
price was 715sc.
Corn was firm, but much less active than
on the day before. The market for the most
part followed the course of wheat, opening
easy and advancing as wheat Jumped sky
ward. Shorts who were the run yeser-
day were conspicuous by their absence to-
day. The dizziness of trade caused prices to
sag late in the day, the result being sub
stantlally unchanged prices at the close
Local receipts were SO cars. July opened
&c lower at 247sq25c, sold at 25h925Ac and
declined TO 25Q251sc. That was the closing
price. Oats started firm, but yielded with
corn. Trade was not large, in fact. at tines
the market was almOs; at standstll No
features of interest were reported. Ship
ping demand was poor. Local receipts
were rosted at 3c1 ears. July opened IN
changed at 1Slsc. sod at 181SGl814c and de-
c.ined to 1Sc, where it closed. Provision:
We're slow but firm. The opening was easier
on the decline in prices at the yards This
decline was soon recovered on some short
covering and outside support. Trading a. no
time was lively, and was mostly limited to
me early hours. At the close July pork
was 242c higher at 81 80; July lard &c higher
at 70 and July RIBS, 212@5c higher at 81 4:
GAIT. Estimated receipts Saturday
wheat, cars: corn, 420 cars; oats go cars
hogs. $4,000 head.
The leading futures ranged as follows: