The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-26
MAY AGAIN HIGHER

CHICAGO Jan 25-The Wall street deal
in wheat merri!y continued its upward course
today ard some of the gayness OF spirit
touched the traders in corn and oats May
wheat after 4 slight dip early closed lac
highe- Germ lett off at an advance or sc.
Oats were benefited 1SW9sc- froNlsions are
about unchanged.
The early Liver pool cables showed that tina,
market making but little response TO the
advance here yesterday and this put some
thing Of a damper on bull enthusiasm at
the start in wheat. May opened 14WSsc lower
at 727sG73c and with more sellers than buy-
ers il sunk slowly 10 72ese. At that point,
however, Wall street bulls ssnt buying orders,
and the price soon bridsed the gap between
1850 ard yesterdays closing quotations, i3z+c.
Chicago receipts were 1888 cars, against ~
year ago, and Minneapolis and Duluth got
S65 cars compared with 257 for the correspond
ing day the previous year Aggregate re-
ceipts at Western primary markets were 6o2,-
Coo bu. against S04, coo Blu year ago. Inc
comparatively heavy receipts were as nttle
REGARDED as the unsympathetie character OF
the Liverpool market. The bulls in wheat
paraphrasing a well known rhyme altered 10
apply to present conditions Of heavy receipts,
were individually saying:
What care | how much they be
While Wall street buyers stick to me-"
With that refrain in mind and the desired
evidence that New York buying orders could
still be relied upon. they hoisted May wheat
to 13%c before the session was two hours
Gle. CieaTarces OF wheat and -four from At
lantc and Gulf ports were equal to 4lS,OO0
bu, considerably under their recent volume,
bur that and everything else suggestive OF
caution in buying was disregarded. report
was current about half an hour from the
close. tlat 120 beat leads Of wheat had been
taken at the seaboard for export, and on that
Information. which would. if correct. have
justified ali the prevailing bullishness and
encouraged more the price of May was run
up rapidly from around 1884 to 743sc. It had
previously sold as high lac, but had re-
acted quarter cent some profit taking
The news OF the heavy export business proved
too good to be true and the price slid quick
ly back again to 7324c. on a contradiction. 1t
discovered that Instead OF 100 boat loads
message should have read 10000 blu corn
That ths market, however, running on
lines thoroughly independent of export bust
quickly demonstrated. The price was soon
on the boom again with the crowd growing
cations and as the bell sounded the end of
the session May was selling at 75c. with sew
eral large buying orders lett unified
Corn received a good speculative support
and was stroEg in the main. after short
period of weakness at the start The market
could not help being influenced by the bull
ishness of wheat and made its best prices
near the close. Old-time bull leaders came
into the market again and bought heavily.
dispatch from New York said the demand
from the continent better than at any
for spot than previously. Receipts were 40S
cars. May opened 1s@Ac lower at 371kG374sc.
to SSHc. and closed at $3.50 sellers
The oat market was strong and showed
rather more independence than usual. Prices
were strong from the start. although liberal
offerings from commission houses were en-
countered Receipts were 100 cars MAY
opened a shade lower. at 27%GD27%c, sold at
2iac, Their improved 2S1sc, and closed at
2S2s 62S1sc.
Coed foreign demand for provisions. includ-
Ing lard was Offset by fesvy receipts of hogs
A disposition on the part of holders to sell
was manifested and the strength of grains
did no more for the market than to cause the
early loss to he about 81 ergained. May pork
opened 11SGl2l@c lower at $10SO11035 ard
rose TO SlO;41l2. the closing price. The range
In lard and ribs was arrow
Estimated receipts for Thursday: Wheat.
Isl; corn, 615; oats, 227; hogs. IS. 000 head.
The leading futures ranged as follows: