The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-04-18

~, SIlo Inc following are the changes dur
ing the week from the closing April 9. to
that of April 16, in the markets named:
April 16. April g.
Minneapolis -. :. ........ 997s $685.
Chlcago ..........1 W %
Duluth :. .........l G3la 90
st. Louis -. .............1 G2 O05s
New York ..........1 06A l OBS
These figures indicate gains of SIC at Min
neapolis. Sc at Chicago, 31zc at Duluth 1$sc
at st. Louis, and 5Bc at New York.
One does not find it necessary to look very
Tar for the discovery of the cause of this up
ward leap. The greatest wonder all along has
been that there were SO many traders found
who failed to recognize the real condition CT
things as they existed, and have continued to
exist ever since the close of the December
deal Week by week the volume in the coun-
try elevators was lessening, while the increase
IN the visible supply told its own story of
the marketing of stock by the farmers at the
top notches. Surely they have had harvest
OF good fortune since last September entered
and they sensibly awaited themselves of their
opportunities
The opening on Monday was not strong. The
decrease in the visible supply for the week
was only $4,000 bushels. Nobody seemed in
clined to trade pending the uncertainty sur
rounding the Spanish American controversy;
and the market sank into a duilness that
boroered on absolute stagnation. On the fol-
lowing DAY there was free selling. Bradstreet's
showed an increase in the worlds visible sup
ply. But news came from California that no
exports could be expected from that state for
| fifteen months Then again it was apparent
that the European demand was being main
tanned and that genuine nervousness existed
there as to the extent CT the shortage of
SUCKS. by Wednesday the market began mov-
ms anu May wheat touched Sill in Chicago.
Inc pears were caught again in the same old
way with which one would think they had
become familiar by this time, and later came
the bulge to $1.15 Mr. Letter. it is said. sold
enormously of his long stocks of both MAY
and July. 1t was not surprising that he
should dispose of his July. He was forced into
us purchase in his efforts to support Nav
he bougnt at low prices and he soon found
II possible to realize handsomely and at the
same time accommodate the bears who had
sold short at lower prices and nimbly ran
10 cover when May began its startling upward
flight.
Inc news, or the little there was of it, was
generally bearish. Argentina's sbinments
were less than the week-previous There
were s-me bal reports from Kansas in re-
sard to injury to winter wheat. Dry weather
was reported from Iowa and the Dakot,s
All the foreign markets CONTINUED strong
<Aler the nesltancy Of a fortnight ago re-
earning the formation Of opinion as to the
eHect or war. the conviction seemed to ba
@-nios' unahinous that such issue must
result in strengthening prices. This conclu-
sion was doubtless drawn from the deter
Aiineo manner In which Continental buyers
forwarded their orders
Ho SENSATION was reserved for Saturday
however. when the discovery was made ma
Letter 1ar
PRICE nad SCARED to $1.15. but it soon decl-p ed
10 Jill and then to sligo. Just where if will
De pegged in the future is net apparent bus
having maintained it so successfully at s, "a
Ut whereabouts for so long a time if would
iiot oe SURPRISING II the peg should now ba
moved upward little. TIE option has about
siA weeks more OF life. and what the posi-
oiit.es may be a;e indicated in slight de-
gree by what has already gone before.
mere was considerable realizing all around
~ u.hereht traders during The highest tango
~ 'e Transactions There was show of
old-time activity in the general market which
was welcomed by the commission crow 80.
the long period of du. lness which bas obao
terlzsd operations during the months op tbo
year thus far VIC
Just what Mr.. Letters tactics are i, con
nec'!on with July is the present conundru,n
ii, as reported, he sod to the am,un. n,
millions OF bushels of that option. it is roo
sonably certain that, as the Nav cDtion 90
cut, he will he in shape to recover his bo1d
lhgs IN July at lower range, and TO all \,
peal RANGES these sa-es are in the nature of q
move Tor tfat under; aking
The markets everywhere cI,se5 s+ror
in view Of the heavy liquidation il s ir.t
possible that period of rest will result 800
prices be allowed t. Dir f. r. a l3u,-n 49,,
preparatory for final dash before the toni
nation of the May option.
The following figures from tte renot 80
the bureau Of statistics are instructive ga in
oicathg the improvement in the agricu'tura1
industries CT the country:
breadstuns exported during the ni,o
months nth. ending March 81 1898 were vaIn1d
a. SS - Ss 80 lSS, against amount valued at
sIoS SU9. tS9 for like period ending Warcb
1871 The value of the breadstuf exnnrIs
tor Marcn was S24 497. 965, against sl5S92 al
rG3 Ma grains 1871 w. The exports of the va
March. 1898. compared with the same nerin5
OF the preceding year. were as follows:
wheat zoo 1 IT, 2S9 415.against 81, $50 93s bushels
corn !5s, 9Go va, against 135, 634 231 bushels
oats. 1881. against &c, o4s,SS2 busbeis
barley. s,S72 ia, against Is, CAS-, 900 bus fe
c essn No. msaI * 7s against 57ss bushels
wheat flour, 11.s2s754, against II Iu 9a5 al
pa oatmeal 57.56o.Si3, against s. 5s9,
eGa pounds The amounts exported in
as follows: Wheat S,813, $50, against , 9S7
S54 bushels; corn. 1S,34s574, against * iS7
s eaS bushels; oats. 5,247 1sO. against 2'444'
S eSs bushels; barley; e2s $50 against 1,952,-
vi bushels; rye. 1.186349, against Az 9Sa
bushels; wheat -four. i,476,s2S, against J 10
Ia isS barrels; corn meal, 9S6SS. against
%, S45 barrels; oatmeal, S,60S $40 against
4,369,643 pounds. '
In its comments respecting tho market
The Northwestern Miller. in its issue of last
Friday, says
In the Northwest receipts are getting
Smaller. and are light as compared with
last year. and with other late wears T. i
beginning to be realized that the active de-
mand and high prices brought cut the buil,
OF the grain early in the season and thot
tne large receipts We had were at the ex
| pense OF arrivals usually coming later in tha
season. There is a fair stock of wheat In
Minneapolis. but when the additions hat
must be made to meet the suppIy reouire
ments through the season are taken into Sc
count, IT IS not found where it can all Gonna
from. When the seeding is past. there are
expected to be fair receipts again for few
weeks, with which exception little more in
the way OF full arrivals is looked for. up to
! ports of too dry weather in some parts NJ
| the Northwest, though not thought here to
| De serious The seeding reports were favor
aoie, ana large acreage in South Dakota
| and in Southern Minnesota is already in the
| ground II favorable weather continues
| through the coming week, farmers wi Re
| pretty well through in the southern and CEN
trail parts, with Something of a start in ~.
north. 49, 'Ae
The drouth in California was talked of as
were other causes OF poor crops there, with
| reports verifying conditions that do not
! Jusufy expectations Of much wheat to be
raised there this season. East of the Rock
les the situation for winter wheat is very
well spoken of, excepting along north of The
Qh1o river, In the southern part of Ohio,