The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-02-09
SENTIMENT is BULLISH
FAVORABLE CABLE NEWS PUTS
WHEAT UP MATERIALLY
Fair Volume of Trade and Strong Feel
ing From Start to Finish - Corn
More Active Than for Some Time
Past, Being Higher, Like Oats.

CHICAGO. Feb. IA bullish senti-
ment prevailed in both the grain and
provision pits today and on favorable
foreign advfces wheat closed strong
with May 1Q1 1-So higher. May corn
was up 1-2Q5-8c and oats were 100
&c higher. Provisions closed firm, with
the May products up from 1-2c to
15c.
Wheat showed decided strength, and
the volume of trade was fair. The
opening was strong on higher cables,
with May 1-8@3-8c higher, at 70 lao
~ Lee. Everything seemed to favor
the bull sfde-the outside markets be-
ing strong and good export inquiry
being reported at the seaboard Under
these bulltsh conditions shorts covered
freely, which aided in advancing pric-
es still further. A report from San
francisco, showing an advance there
or l Sac was one of the principal
Factors in the upward trend of prices
while the strength In coarse grains
also aided the advance. Toward the
end or the session the demand became
SO urgent that May sold up to 80 1-4c
and the close was at 80 I-8@S0 1-4c,
a gain of 1@1 1-Sc. Clearances of
wheat and flour were equal to 5000
Du. Primary receipts were sos, 900 bu
against 100000 blu year ago. Min
neapolis and Duluth reported receipts
OF 4Ol cars, which with local receipts
OF 80 cars, two of contract grade, made
total receipts for the three points of
4S4 cars, against 352 cars last week and
3O1 cars year ago.
More Activity in Corn.
Corn was more active than for some
time past, there being a good commits
sion house demand, while scalpers also
bought literally, with offerings rather
light. Firm cables, q fair cash de-
mand and the strength in wheat were
the main bull Influences, and no i'm
provement was noted in the car situa-
ton. The close was strong, with May
I-2@5-8c higher, at 10 3-8@45 LIE,
after selling between Al Use and
40 lie. Local receipts were 2S7 cars,
with none Of contract grade.
oats were directly Influenced by the
decision of the arbitration committee
making the settlement price In the
July oats controversy 81 lac. This
led shorts to believe that settlement
on the board favored those who ma
nipuiated the market during the sum-
mer. and in view Of the fact that pres
ent indications point to another at
tempt to manipulate prices of the
May option, there was considerable
anxiety among shorts and covering
was general. The strength in other
grains also aided the bulls. There was
some realizing by prominent holders,
but the market held decidedly strong,
and the close was at the top for May,
at CSC, a net gain of 7-8@1c. The
range for the day was between Bic and
38c. Local receipts were 166 cars.
There was a moderate trade in pro-
visions, but the market was firm on
fair commission house demand and on
covering by shorts, who sold yesterday
expecting liberal receipts of hogs to-
day. The strength in grains was an
influence late in the day. The close
was firm, with May pork 15c higher,
at $3.50. May lard was 1-2c higher,
at $40, while ribs were up 1-2@5c,
at $9.47 IL.
The estimated receipts for Monday
are: Wheat, SO cars; corn, 3T5 cars;
oats, 24o cars, and $4,000 head of hogs.
Oats Deal Settled.
CHICAGO, Feb. 7.--As result of the
arbitra ton of the difficulties growing out
of the July oats deal of last year. the
firms which defaulted in their settlements
will now be allowed to settle all their
open trades at 57Ac according to a de-
ctsion rendered today by the arbitration
committee. The fixing OF the settlement
price ends a long fight which has been
carried from court to court since last
July.
The leading futures ranged as follows:
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