The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-02-26
BULLS AND BEARS STRUGGLED FOR
SUPREMACY, THE LATTER
WINNING
MAY WENT OFF a QUARTER
Wheat Was Stronger ON BuiIish Sta
tistics, Gaining one-EiShth-
Oats Lost n Trifle and Pro-
visions Gained Slightly.

CHICAGO, Feb. Pa sharp combat
between the respective leaders of the
bull and bear hosts in corn made that
market the center Of attraction today.
and steady cables came to the support of
wheat and the close was 1sc over Satur
day. Oats closed shade down, and pro-
visions 21sc to &c improved.
Corn was an active and somewhat I'M
posing market. The market was mostly
a professional one, governed by senti-
ment rather than any deductions from
the news. The small contract StockS-and
they have been merely a m6rseI for some
tine-are the bone of contention. 1t is a
question whether present prices of fu-
lures are TOO high or too low, with the
contract corn which could be delivered,
as a basis. In today'S receipts, 697 cars,
there We're II cars which graded cor
tract. This was the best showing Of new
arrivals in some time, with the possible
exception of Saturday, yet the market
advanced cheerfully in the fare of it to
the highest point of the option. Some
what freer country offerings also Va re
ignored during the first hours of trad
ing, although they have some influence
later when the bears gained the mastery
Of the field. The bull and the bear lead
ers worked vigorously for some time,
with success perchinS first on one ban
ner and then on the other. while the
crowd followed. May opened unchanged
to 14c higher at 4l13c to 41%4c, and quick
~ touched 4la4Q4l7sc under good commits
sion house buying, led by outsiders. The
bull leaders took in half a million bu
May on the rise, but the commencement
of liquidation and short selling forced the
market back to Also. The bulls forced
May from this to 411a@415gc, but. were I'M
able to hold the advance against the,
heavy Selling pressure and the market
broke to 401scs- Proft-talzing by shorts
caused a rally from this break, May
working UP to 419sQH12c. The support,
however, seemed to have lost some OF
its Vigor and the close was easy, May &c
lower at 4l14c-
Under the influence of steadiness at
Liverpool and bullish statistics, wheat
opened firm, May a shade to AQasc high
er at 76lAc to 761hc. There was a fairly
active trade for a few minutes but when
outside orders were filed the market be-
came Il felturelesS local affair and lost
some of its strength, May dropping to
i61sQ76Ae. The strength developed by
corn caused covering by shorts on the
decline and May rallied to 7612c. Heavy
selling by a few local professionals IN SYM
pathy with the corn break sent the mar
ket back to 16lsc. The corn reaction and
visible decrease of l46,G00 bu, combined
with the heavy seabOard clearances,
checked the decline and a sharp rally to
1634c ensuad The bears treated this adj
vance to liberal offerings and there was
another decline, but the close was steady,
May &c higher at 76AG76$sc. Exporters
reported u loads taken. Seaboard clear
ances in wheat and flour were equal to
97S,eO0 bu Primary receipts were 747,O90
bu, compared with 100 COO bu the corro-
spending day last year. Minneapolis and
Duluth reported 524 cars, against 495 cars
last week and S37 cars a year ago. Lo-
cal receipts we're 102, cars, Is cars of con-
tract grade.
Oats were fairly active. Offerings were
liberal on hard spots and bids good on
small recessionals, Prices were govern
ed mainly by the action of the corn mar
ket May sold between 25i4c and 26e, and
closed q shade lower at 2534 @267sc. Re
c6ipts were All cars.
Provisions We're quiet and the market
had a fair undertone based on light hog
receipts and higher prices at the stock
yards. May pork sold between Sl415G1
14.17la and S14. 221k, and closed DC higher at
Sl420; Nay lard between S7.55 and S7.5715,
closing 21i05c up. at $T.55GD7 5T1s and May
ribs between S7.15 and $7.1TI5, with th9
close 234c improved at S715
Estimated receipts for tomorrow:
Wheat. 1l5 cars; corn, SIS cars; oats, 425
cars; hogs. $4,000 head.
The leading futures ranged as follows:
Open Hish-l Low-I Clos
net ( fnrr