The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-13
A TW0-CEHT RALLY
THE BULLS ENJOYED A ROMP On
THE CHICAGO BOARD OF
TRADE.
SHORTS COVERED FREELY.
SHARP ADVANCES IN PRICES WE'RE
SCORED ALL ALONG THE
LINE.
ST. LOUIS STARTED THE SCARE.
Flood Reports From the Northwest
a Material Factor in the Advance
Provisions Higher.
MARKET SUMMARY.
FINANCIAL.

CHICAGO, April 1.-THE bulls on the board
OF trade were in feather today. Prices were
advanced all along the line and the bears
were called upon to settle to the extent
Of % In May wheat hc in corn, &c in oats,
e0c in pork, TIC in lard and &c in ribs The
order Of the day in all quarters seemed
20 be covering up of shorts contracts, the
result of the recent hammering process
by which the bears forced wheat for May de-
livery to 641kc on Friday last.
There was a fair trade and moderately
active market In wheat during the early hours,
but the interest increased considerably as the
session advanced. The feeling was firm, with
first sales at a trihe advance. The market
soon rallied no more, weakened lie, rallied
1910, changed some and closed 1Ss@1Bo
higher. The early strength due to the
advance in Liverpool Of Id, Berlin also COM
ing higher. The weather map showed more
rain in Nebraska and the Dakotas and was
looked upon unfavorable. While war pos
eibilities were not quite 80 certain, there
was a feeling OF uneasiness among shorts
and many covered. The government crop re-
port was apparently not much of factor and
suggested a crop Of about 205, 900 900 bu.
Northwest receipts were liberal and some
thing of factor. The visible showed a de-
crease of 100000 bu, against reduction
OF 1.0lS,O00 last year. Total quantity now in
sight is %706, 900 bu, against So. 331 900 bu
one year back, and TO- 487, 900 Two years ago.
The English visible decreased TAI, 900 blu. Ad-
vices from the Northwest as to spring seed
ang wero rather bullish, reporting that rain
and floods would greatly delay the same
Closing Liverpool cables quoted futures "a
AID higher Crop advices from France were
again unfavorable. Exports were moderate
at 1880 Blu, Of which g., 900 blu was in
hour. The market advanced quickly later in
the day on covering by shorts, room traders
having sold up sharply, and this market fol-
lowed. Flood reports from Northwest were
apparently the main factor. Receipts at Du-
1uth were 271 cars, and at Minneapolis 391
cars, total of 662 cars, against 2S4 cars
Saturday and 979 cars last year. May opened
shade higher at 66Q66hc, advanced to
WIG. declined to 66Ac then turned strong
and moved up rapidly to 6SAc, resting at
B7%@6Sc.
In corn, as in wheat the shorts covered
freely. The sources from which the shorts
always expect to draw their supplies had
dried up to a considerable extent this fore
noon. When from 231ac the shorts had grad
ually advanced their bids to 241lc, they got
MI they wanted and more. The visible de-
creased $4,000 blu, compared with q de-
crease of 142, 900 blu the year before Nav
opened shade higher at 235sc, advanced to
HAc and closed at 24Q241kc. Oats opened
with a sudden advance in prices, accom-
panied by very buoyant feeling, which last
cd throughout the entire session, shorts main
tanning the irmness with free buying A
decrease of 329, 900 bu in the visible Supply
and falling off in local stocks of 136, 900 bu
nssedIped the advance: May opened at from
16s$ql6Rc, advanced to 1880 and closed at
16%c, sellers. In provisions trade was firmly
brisk, and prices higher. Hog receipts were
SO'CoO head, instead of 5000 expected. Nav
pork, which closed Saturday at 1886, opened
today at $S.4219, sold about the same time at
$40, advanced to $S.5715, and closed at $500
S6712; May lard at $4.271a; ribs, from $467I5
early in the session, rose to 81. 721a which lat
ter was the closing price Estimates: Wheat
= cars; corn, 23O cars; oats, $50 cars; hogs
is, 600 head eN'
The leading futures ranged as follows.