The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-02-05
SUMMARY OF THE DAYS TRANSACTIONS IN THE MARKETS
WHEAT STILL CLIMBS
OTHER CEREALS ALSO REACH NEW
HIGH RECORDS
Far Eastern Crisis Keys Wheat Traders
Up to High Pitch-Armour Does No
Open Business-WiId Rusfes to Cover.

CHICAGO, Feb. All cereals made
new high record marks today Active buy
ing on the apparent certainty of war was
the cause. Wheat for May delivery at
sc over yesterdays close. May corn went
up rs Q112c, touching 563sc, while May
oats advanced an even cent to 46Bc. Clos
ing quotations today were well in sight of
the top. Provisions also We're affected by
the war scare and closed strong
living to the critical state OF affairs in
the war East, wheat traders were keyed
TO high pitch at the opening Shorts
We're so energetic in their efforts to get
under cover and the pit was so bare of
offerings, that before the initial demand
up k@@sc to 11R@1sSc above last nights.
close, sales being made at 94A C to 95 &c.
July was up &c to 1c at S5c to 85% c.
When May reached 951zc, which is new
nigh record mark for the crop, active
proht-tak1ng set in. Large quantities of
wheat were put out by commission houses,
ana there was considerable short selling.
There was also some selling in July which
was credited to the leading long operator.
Armour Lies Low.
The big bull trader however, did no
open business at any time during the day.
As the session advanced the market be
came quieter, prices gradually eased off
under the load of liquidation until al one
time July sold under yesterdays final fig
ure, or at S3asc, a decline of &c froIS
the top. May sold off to 94c, with little
demand at the decline.
The market remained quiet and COM
paratively steady until near the close,
when another sharp rally occurred. On
renewed rumorS of warlike moves, COM
mission houses became active buyers, and
shorts again started in a wild rush to
cover. The last few minutes of trading
were almost as tumultuous as were the
opening ones, and the volume of bust
ness was exceedingly heavy. Prices at
the close had practically attained the
early high altitude final figures on May
being at 952s 09515c, a net gain for the
day Of lac. July closed 70 Ole higher at
S53s WS5Ac. ClearanceS of wheat and -four
were equal to $50, 500 blu. Primary re-
ceipts were 504,300 bu. against an in
complete figure of 159,125 bu a year ago.
Minneapolis, Duluth and Chicago report
ed receipts of 257 cars, against 222 cars
last week and 81 a year ago.
Excitement In Corn.
The opening in corn was as full of ex-
element as was the early trading in the
wheat pit At first it was all rush to buy.
May was up 72@5sc to 1AQ1&s, at 55G
to 56A. All the big houses had come into
possession of buying orders over night.
and in addition to this shorts We're also
extremely anxious to cover. Within the
first few minutes of trading May sold at
563sc, but at that price the market ran
into heavy offerings from holders. AT the
end of the first hour the excitement had
almost entirely subsidized and for a time
the market ruled quiet.
Under heavy realizing sales prices grad
ually worked their way down until May
had declined to 55c. Shortly before the
close a renewed demand Sprang up, which
carried prices well toward the top, final
figures on May being at 56c, a net gain
for the day of 1@1B. Local receipts were
240 cars; none of contract grade.
Oats had the same wild experience as
the other markets at the opening. prices
going up sharply on general commission
house buying and active covering by
shorts. May opened &c to &c higher at
tn T0iY foe
had advanced to 46Bc. The decided rise
in the price brought out heavy liquida-
ton, large part of which was said to be
for the account of the principal holder.
Under such selling prices declined, May
going back to 45Ac. Another rally oc-
CURED near the end of the session. In
ket became active, and large part of the
loss was regained. May closed &c higher
at 46Ac. Local receipts were ii cars.
Big Buying In Provisions.
Trading in provisions opened with big
buying movement similar to the conditions
witnessed in the grain pits. Commission
houses seemed to have plenty of orders to
fill on that side of the market at first.
Offerings were very light at the start,
which resulted in a considerable advance
in prices. Later there was heavy selling
Of May lard by prominent long.
With the break in grains the selling
became general and most of the early
gain was lost. The market rallied late in
the day along with wheat and corn, and
the close was strong. Final figures on May
pork were up 7hc at $13. 721s, after the
price had ranged between $13 .671z and
$13: 50. May lard sold between 81 SO and
81 10 and closed at ST. 621s gain of
2A@5c. Ribs closed a shade higher. at
Sc. 821s, after ranging between S. 80 and
Sc. So
Estimated receipts for tomorrow:
Wheat, 25 cars; corn. IFS cars; oats, IS
cars; hogs, 80. 900 head.
Range of Quotations.
The leading futures ranged as follows:
Open. High. | Low Close.