The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-27
/VNIVNTE
e To All Readers of
5 The SI||d0y Globe


which got so we'll under way yester-
day. continued with increased energy
at the opening. Wheat leaped into the
air with a buoyant skip at the very
start and offerings were scarce at 10
112 cents over yesterdays closing price.
Even the few traders, who for a minute
or two, thought it worth the risk to sell
a little short at such an advance soon
changed their minds, and found 1t diff
cult to reinstate themselves at 2 cents
above the top price Of Wednesday.
Buying orders from outside sources
were numerous, urgent and apparently
without limit as to price. The selling
was evidently confined for the most
part to local scalpers. who had pre-
viously bought at lower prices. The
crowd appeared to have adopted the
alleged Wall street policy to "buy
wheat when it is weak, buy it when it
is strong, and buy it all the time.
May started at rs to 761a cents, sold
in heavy amounts for about fifteen
minutes between the opening figures,
and 753s cents, chiefly around 76N
cents, and then rose excitedly to n
cents. in few minutes it reacted to
1875 cents, On realizing of profits by
longs, then rose again to II cents, and
some little brought 771s cents on the
second advance. Liverpool was appar-
emily forced into recognition of the
strength prevailing here, spot wheat
opening Id up, and futures from I'D to
1Ad.
FIGURES OUT OF LINE.
The figures Of the grain movement,
in comparison with those of a year
ago, were quite out of line with the
course of prices, except that Atlantic
clearances of wheat and -four were
more liberal, amounting to 7S7 900
bushels. Minneapolis and Duluth got
489 cars, compared with 2S4 for the
corresponding day the previous year.
Aggregate receipts at Western pri-
mary markets were reported at $3.50.
bushels, whereas ESQ., GOO was the total
a year ago. Foreigners were largely
short May wheat here and in New
York. One commission house that
does large foreign speculative bust
ness was reported to have called mar
gins from European customers up to
so cents a bushels. Many European
shorts were said to have sent orders
to buy in the wheat. The announce
ment of this caused the greatest ex-
citement, and, as orders kept coming
from all quarters to buy wheat, May
shot up to 1914 cents. That was a
gain of Az cents for the day, and, as
~
profits coming, they took advantage
of the excitement to secure them. The
liquidation became so general that in
side of fifteen minutes May tumbled
back to IT'S cents, but as quickly
started on the up-turn again. The ad-
vance was cut short by the bell sound
Ing the ending of the session. May
closed at IT'S cents.
There was a broad general trade in
corn uGder the influence Of wheat.
Wall street furnished the bulk Of buy
ing orders, but any material advance
was checked by heavy selling from the
country. The receipts, SIS cars, were
large, but any effect this might have
had was Offset by the excellent export
demand. May opened A@h cent high
er at 1885 @3SB cents, declined to 381s
cents, rose to 397s cents, then settled
back to 3S% cents, sellers at the close.
Oats followed corn closely, paying
very little attention to wheat. There
was large business transacted with
comparatively few outside orders.
During the last hour there was a good
deal Of excitement, and May started
to climb rapidly, but in the last ff-
teen minutes profit taking caused
decline from the top. Receipts 225
cars. May opened shade higher at
2S1s cents, sold at 2Sas cents, advanced
quickly to 20 cents, then reacted to
2SA cents at the close.
Heavy buying of pork by a group
of commission people strengthened
provisions. Packers sold freely on ac-
count of liberal receipts of hogs and
easier prices at the yards. May pork
opened 7b cents higher at $10.50, de-