The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-21
MAY CLOSED HIGHER

CHICAGO, Feb 20.-An unexpected de-
crease in the visible supply TO-DAY, Iarse
clearances at the seaboard and numerous
crcp damage claims caused sharp rally III
wheat and May CLOSED 7sGlc higher. Corn
advanced hc and cars lAc. A general over
threw of long property deinoralized pfoVls-
ions tork Losing Soc lard l5c and ribs LAG
17lac.
Wheat was firm TO begin with and had
several seed APOLOGIES to oter 10 shorts Tor
being so. The worlds shipments to europe
last wecl- amounted to only 4,i9l,o0o bu, or
about 2.5U0Oc0 bu less than Europe's esum3t-
Cd weekly re .uremenis, while The quantity
on ocean passage WAS reduced $4,000 bu
against 290 coo tu increase FOR the correspond
Ing week Of last year. Reports from Missouri
2. d Nehro ka issued by the weather service
bureau were tn the effect that the winter
plant bsd been seriously injured by the re-
ccI. extreme cciG. All this was comforting
to the bulls and May olened Sc higher at l25s
G72i1c. large business was transacted at
the tor figure.
Reolipts here were So cars, against 10 a year
aSo. and Minneapolis and Duluth received
COO cccloads, compared with exactly one
half that number for the corresponding day
last year. Liverpool reported wheat stocks
in thst -ort ll5.G00 bu larger than last Mon
day while Londor Gables claimed on.y a
small. business in wheat and American Hour
Is 6 sack lower sin e Friday last. Those latter
items supplied the bears with forttude in
selling and the cary rise was gradu ally
pared away May dec,inging TO 12lsc. The
wish e SCT ply. instead OF inc casing IJ0tOo u,
as generally eXrected showed decrease Of
543 090 bu while the Atlantic pert clear
ances Of wheat and flour were large, amount
ing to S35 COO bu. Those two announcements
inspired the bulls TO redouhie their energy
and May advanced quickly to 1850. Heavy
damage to wheat from late frosts was claimed
from the states OF Washington and Oregon.
That helped 10 maintain the market near the
end. and May wheat closed al 73lsc
Large receipts and a poor shipping demand
weakened corn early. Buying to cover short
sales howe. er. brought about reaction, and
the e3~ly decline was ali recovered. Receipts,
800 cars May opened shade higher at 35l4
G35asc. declined to 35Ac, then improved to
SEC. and closed at 354c, buyers.
Long sales and large receipts caused early
weakness in oats. There was good demand
flGm shorts al the decline and this, coupled
with the frmness Of wheat caused a reac-
ton TO set in. May began a shade up at
27lec, sold off TO Prise, then improved to
277sc and closed at 27lac.
Provisions were dec dedy tops died. and kept
topping over every time buyers made an
attempt % steady the market for a while.
The enormous receipts of hogs at the yards
started such heavy selling that the market
got On a level with stop loss orders. The
stop-oss orders increased instead of stopping
the loss. May pork opened Toe lower at
$3.50: sold sparingiy at 50 6212, then slid off
to 1886. the c.osing price. May lard started
the close. May ribs began sc off at $4.7713
buyers.
Estimated receipts for Tuesday: Wheat,
III cars; corn LOIS; cats, $50, and hogs, 80 900
head.
The leading futures ranged as follows:
Onen-l IJioh ! 7 nu, Clo.