The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-03
DAHL, OF HENNEPIN, THE APOL-
OGIST OF THE SECRETARY
OF STATE.
MARKET READY TO RESPOND.
EVERY ITEM OF BULLISH NEWS
THAT CROPPED UP HAD
EFFECT.
DASH BUSINESS AND GOOD CABLES
Were the Two Factors Most InHuen-
tiaI in Giving n Strong Tone to
the Trading.

CHICAGO, Feb. 2.-Wheat today more than
recovered all it lost yesterday, the May op-
ton closing at a 1$sQ112e advance. the
firmness displayed by Liverpool. and reports
of big cash business were the leading fac
tors. OF the other markets corn and oats
each advanced about 3-16c. while provisions
again suffered a slight decline In wheat
Liverpool opened Id higher for futures and
I'D lower for spot wheat. That and an i'm
preston that wheat had had its break" as it
was generally expressed, caused a firm open
Ing here. May closed yesterday at 74Aq74$sc
and opened today from 744Q747sc. The failure
of a rather important Boston grain firm who
were long of wheat in this market, and the
selling out of q line for their account
caused a decline in the price Immediately
after the opening, May sliding off to 74Ac.
But that being out of the way, the market
responded readily to anything of a bullish
character that might crop up. Chicago and
Northwestern receipts were small, though the
latter showed signs of recovery from the
snOw-blocked roads of a week ago. Chicago
got 45 cars, compared with 107 on the cor
responding day of the year before. Mime
apolis and Duluth received 26O car loads,
against 127 a week ago, and 664 last year.
The Bradstreet visible statement showed a
decrease of 1854, 900 blu east of the Rockies,
showing that the interior elevators are being
drawn upon and assist in keeping the visible
from a more rapid decrease than 1t would
see If only farmers deliveries could be drawn
upon. The total decrease IN the world for the
week, exclusive Of Pacific coast stocks, was
900 bu. By the time of the announce
ment Of the visible decrease, the price OF
May had recovered to 74&c, and kept stead
lily on the upward path as good cash sales
were reported. Closing cables, showing 10
adz f,+,, al.
ket, and during the last hour prices were
very firm A report that 200 600 blu of cash
wheat had been taken for prompt rail ship
ment sent the price up to 75Bc. There was a
Slight reaction after that, but the closing
was firm at 7524c
Corn was firm, but inactive. There was
some disposition to cover on the part of the
shorts, in view of the strong wheat market
Prices were also helped by additional receipts
OF soft Iowa corn, and reports that great
deal Of the crop was unmarketable. May
opened &c higher at 24AQ249sc sold to 241ac
and closed steady at 24&c. Oats were firm
at the start, but fell off later and for a
ket. Toward the close, however, a rally
brought prices to point just about where
they ended yesterday. The aggregate business
was only moderate. Shorts were fair BUYERS
and caused the later advance. May opened
about 1sc higher at 1875, sold off to 17Bc then
recovered and closed steady at 1850. Pro-
visions were heavy, owing chiefly to the
stocks having proved larger than had been
looked for. Everything opened a shade lower
than the previous days quotations, and the
decline was moderately added to during the
in sympathy with wheat. At the close, May
pork was TIC lower at $7.65; May lard, PIC
lower at $3.50, and May ribs about 21@c lower
at S89s11Q9.95. Estimates: Wheat, 2S cars;
corn, 800 cars; oats, 240 cars; hogs, $4,000
head.
The leading futures ranged as follows: