The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-26
MARKET SUMMARY.
FINANCIAL

CHICAGO Jan. 25.-January wheat sold
at 81 today. The price was bid up DC in as
many minutes by brokers acting for the
Letter crowd, who, it was believed took
this method of advancing the price of May.
January closed at size, an advance of PIC.
May closed at &c advance after many err
ratio fluctuations Corn was dull, but firm,
and advanced 15@Ac. Oats closed shade
higher. Provisions were active and advanced
b@15c.
The opening in wheat was weak, May,
which closed yesterday at 93hc, starting to-
day at 991sG99Ac, and comparatively little
trading was done even at these prices. The
weakness was due to both foreign and do
nestle news Liverpool cables were but I'd
higher at the opening there, and even this
slight advance was soon lost There was
no confirmation of the sensational reports of
yesterday afternoon regarding the Austrian
demand for Argentine wheat or of the Rus
sian importation of German grain, and news
from Havana was very pacific. Heavy SHOWS
were reported all over the winter wheat
country.
Minneapolis and Duluth received 1923 car
loads against $50 the corresponding day Of
last week., and 127 the similar day of the
previous year Chicago got 80 cars, against
As a year ago. Primary market receipts in
a year ago. The Atlantic port exports were
very liberal, being equal in wheat and flour
to $4,000 bu, including a considerable guam
tity from Newport News.
About forty-fve minutes after the open
ing the pit set in a commotion, January
being the center of interest That delivered
nominally worth 95c at yesterdays close,
and was offered at 943sc at todays opening.
About 10:15, however, brokers for Letter be-
gan bidding for January, and the price was
advanced so fast that for a few minutes it
appeared to be fairly running away. From
Csc it jumped 12c mad 1c at time,
brokers raising their bids that much until
81 was bid. Then the reaction came the
price dropping almost quickly as it ad-
vanced 1t brought up at 97c, and for the
rest of the session was comparatively quiet
The gyrations of January were generally be-
Heyed to be due to a clever move on the
part of the Letter crowd who, it was thought
took this method to advance the price of
May. This belief was strengthened by the
unloading which took place in the latter OPP
ton at 94c, to which price it was carried
while the pyrotechnics were going on in
January. Milen & Grier were said to have
taken 10000 blu of January in getting the
price to a dollar For the rest of the morn
ing May rather nervous though no
BILE report, showing decrease of but 731 900
bu, was a disappointment, and was a factor
in the decline to 931ac which took place
after the bulge to sac. Late in the session.
however, reports that Italy's bread riots
were increasing, and that reserves had been
called out started some brisk buying and
May was advanced to 95Bc. The closing
price was $3.50. Not much was done in JULY
and prices rather tended downward 1t
ranged between S5c and 84Ac, and closed at
S47sc, a shade under yesterdays price
Corn, though inactive, was decidedly firm
Moderate receipts and the stormy weather
West caused some investment buying and
also resulted i'll moderate covering by shorts
Offerings were very limited. The late strength
OF wheat was also a factor. Nav ranged
from 2914c to 29c, and closed 16Lc higher
at 2S1sQ29Ac. Oats were firm all dav.
though trading was even smaller than in
corn. 1t was almost entirely a scalpine
trade, with prices Influenced by the strength
OF wheat. May ranged between 23Mc and
23Ac, and closed shade higher at 2Ssl "a
23Bc.
After a rather easy opening, provisions
turned strong and remained so throughout
Scalpers were against the price early but
trade soon broadened out, outsiders coming
into the market quite freely, and this with
good buying by local operators, advanced
about top prices; May pork. 101ac higher at
$1O.0212; May lard, TIC higher at 81 921b.
and May ribs, 712c higher at $4971b Esti
mated receipts Wednesday: Wheat 80 cars:
corn 160 cars oats, $50 cars; hogs, 26. 900.
The leading futures ranged as ia, lows.