The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-12

CHICAGO. jan. u.-CoyeriDg by shorts was
the principal feature in ali "a the markets
on change today. In wheat this was OF
sufficient volume to overcome the effect OF
rather bearish news. May closed at an ad-
vence of 19c. Corn gained 3sc, oats, Nc, and
provisions closed 212G5c higher. Trading was
light In all the pits.
There were supporting orders in wheat at
the opening and also enough buying OF short
wheat at the same time to make frmness
quickly follow a quick opening. First trades
In May were at from 991sc to 90Ac compared
with 9O1hc yesterday. Beyond a SD decline
ut Liverpool no reason was apparent for the
opening decline. Some weakness was de-
veloped on Yesterdays cuib, and anticipatio1s
of a moderate raid today probably had its
influence at the start. The price slowly
improved during the next hour, but the
height of its forenoon bulge was 9O5sc. The
only notable feature of that 12c rise from the
lowest point at the opening, were the dull
ness and small extent of the business that
accompanied 1t. Ore rather heavy local oper-
atOr bought about go, 600 blu he had previous
~ sold at higher price, and the most OF
the other buyers in the first two hours was
by the local scalpers, who 1T appeared, must
have very generally gone home short yester-
day. Northwest receipts were 378 cars
against 800 the year before, and 400 a week
ago. Chicago inspection showed receipts OF
100 cars against Ais the corresponding day
of last year. OF today's receipts % cars
were contract. Gables from Liverpool re-
ported the continent reselling cargoes of Cali
fornia wheat and Argentine cargoes bringing
equal to $1001A for January-February ship
ment, and being offered for later delivery
from 99c TO Size delivered. The news from
the continent was of a similarly bsarish
character and the %, Co., 600 to 100000 blu
Argentina is expected to have for export was
the text for all their dispatches. Bradstreet's
made the worlds visible supply show an
increase of 900 against a decrease the
similar week in 1897 of 1,6SO,OC0 bu. New
York reported 1CO,0C0 Blu No. 1 Manitoba
wheat, sold for export at 121ac premium over
May. Exports from Atlantic ports were
equal, in wheat and flour, to 10000 blu. Clos
ing foreign markets were from sd to I'D
lower at Liverpool from Is centimes to 90
centimes decline in -four and centimes to
30 centimes in wheat at Paris with Antwerp
unchanged. During the afteroon the market
developed marked strength The Letter
party, though selling some, certainly bought
a good deal more than they disposed Of. A
good many Of the smaller shorts covered
very freely toward the close, and the market
responded quickly to the buying. May ad-
vanced to 914c, and was bringing Ole at
the colse.
Corn was firm although the market was
very dull throughout the session. Shorts were
inclined to cover and offerings were small,
particularly from the country. The rainy
weather Influenced the price somewhat as it
was believed lighter receipts would result
therefrom. The frmness of wheat after its
weak opening was also help. May ranged
from 293s Q2912c to 2SbQ29c, and closed ssc
higher at 29ssc. Oats, with the exception
of the immediate opening, were firm all day.
The market was very quiet and outside of a
general inclination of shorts to cover lacked
feature. The frmness of wheat and corn
was mainly responsible for the strength in
oats. May ranged from 2S%4c to 2}as0231ac,
and closed &c higher at 23&c.
There was a small market in provisions.
Prices were firm and ruled at a slight ad-
vance, although opening lower on large hog
receipts. Shorts were inclined to cover
and there were no offerings from
packers. At the close, May
pork was &c higher at $93712; May lard a
shade higher, at $3.50 and May ribs 21ac
higher, at $40. Estimates for Wednesday,
Wheat, 40 cars; corn, $50 cars; oats, 145 cars;
hogs 41,O00 head.