The St. Louis Republic., 1900-11-04
BULLS MAKE GAINS
ALL GRAINS HIGHER.
STRONGER UNDERGONE TO
SPECULATIVE SITUATION.
Wheat Was the Chief Attraction,
Other Grains Being More or
Less Neglected.
Office OF Republic,

Office OF Republic,
Saturday. Nov. 3. 1860
Tic grain ma rkets at this point during
the week have been very irregular and un-
settled but.as the final figures show. leaned
.lore to the bull than the bear side Of the
account. mulch stronger undertone. that
was productive of Increased animation and
better prices. running through the whole
week. 1t was an uphill proposition most
of the week, and only for the bulls being
more favored in the way of news and con-
Litions thsy never would have been able
to finish in front as they did. Taking the
speculative situation Il whole, 1t was In
many ways disappointing one. and in par
ticuar as regards pit operations in all
grains. These were almost entirely pro-
fessional in character, outside interest
hardly being noticeable. and the daily vol
ume of business. though better than 1t has
been OF late. was rather light. Wheat, as
was to have been expected was the whole
thing. attracting nearly all the attention
from the trade. besides presenting q num-
ber of features that were of striking inter-
est. on the other hand. the cheaper grains
were never in it. either speculatively or
otherwise. they being at times practically
dead as far as trading was concerned, and
showed but few, If any. redeeming features
week were not heavy. and did not cover
the losses Of last week by long ways.
wheat leading. with an advance OF 1tsc to
1i.c. corn coming next. with 5sc to 9s42.c
gains. and oats improving but &c.
The wheat market throughout the great
er part of the past week was vacillating
and uncertain. ii being impossible to say
beforehand just how 1t would turn out from
day TO day: From the opening day to the
close the situation was in doubt, the reac
tionists and professional bears having the
best of the argument one day and the bulls
the next. This unsettled condition of af
fairs was of course reflected by prices.
which jumped about and changed for the
het,er or worse repeatedly. giving hopes
10 one side and then the other, a state of
sCalpins fraternity, but which had a ten
dcncy 10 check outside speculative opera
tions. Although the market has been very
unsettled 1t has been more or less favored
from a bull standpoint. and nearly all the
time has shown good undertone of firm
ness and strength First and foremost
been the crop conditions. at home and
abroad which have been reported as hav-
ing been more or less damaged bv the Hes
san fly. both east and west of the Mis-
sissippi. Reports of this kind were thick
ail through the week. but were overshad-
owed to great extent by the Argentine
from Europe. both public and private. be-
ing of Ii character 10 both raise and de-
press traders. with the result that thoy
We're kept in a condition of uncertainty
nearly All the week. These cables were Of
all col0rS. some of them indicating that
The ,,, crop had been practically wiped out;
while others were more conservative and
milder but the feeling among traders here
was that the crop would be short of all re-
quirenenfs. European cables. az II rule.
did not reflect belief In these reports and
English cables. a rule. had a tendency
10 check bu!iish arGor on this side.
=, The trade here regarded this news as of
creased Interest being taking in the market.
heavier trading and more life. In a sta
tistical way, the information was more ia
vnrable to the depressors of values than
otherwise the crop movement to spring and
winter wheat points. were neither material
y increased nor diminished. but the worlds
Than the Week before and last year. while
Russian shipments were increased on a
large scale. There was falling of of So
go hu. in the amount ahoat. and the Wis
!btc supply OF his country increased l.. .460
o.. Again BTadstreet's reported an increase.
in the worlds stocks of l7a1oo0 bu.. and
the Rockies. There Was little encouraging
in the cash situation here or elsewhere
though :lIe market was reported strong at
this point. but th" sXp.rt buying was light
and the clraranceS from the sesboard small
ard below expectations, the weeks tOta!
amounting L" G,sl2.oyo hu:. against i.9aIOoo
hu. last week and 3.GGT.0cO bu Il year ago
Ther. was considerable selling at Intervals
when the market showed weakness but WAS
manly by those taking their profits, th..
longs not liquidatiu freely as they did
last week. y quiet. but well sustained con-
dit:on of affairs prevailed to-day. and the
close showed shade higher than y.ster-
day. thus making the Improvement for the
week l9ac and 1:,c for Dec. and May. tn.
former closing at 7lssc bid. and the latter at
'6ilc bid: Nov. was numina!ly tic.
A very monotonious state o: affairs has
~ vailed i'll the local corn market and
the week has presented little that was in
vas even duiier than that OF last week
which j. saying a great deal. both as re-
CARDS the amount of business transacted in
the pit and the price changes. and 1t was
plainly evident that speculation was be-
ing held in check. As 20 general conditions
pretty near everything seemed to favor the
cause Of the bulls. though they did not ap-
pear TO he aware of that fact. from the
lack of interest taken in the market
throughout the entire week, there being
frequent intervals. when the speculative
market was practically dead. There were
few changes. o: consequence in values but
at the same time they We're well sustained
and closed with small gains. The weather
conditions have entered largely into the
shaping the course of this grain 1t being
unsettled and rainy in the corn belt a good
part OF the time. Wheat also helped, and
such statistical information received ia
vored the long side of the account For
instance. the receipts were small. that is
thsy showed TO material increase, If any.
ACceptanecS were light throughout the