Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-10-09
Provisions Also Drop to Lower Level.
With Prospects Of Rally.
VILLARDS STRONG IN WALL ST.
The New Mortga &c Bonds Of the Com.
pany Readily Taken.
CHICAGO.

ouoWu w trduo lOE tuo udy, Wihn
home dealers buying the choice winters,
but outside orders lighter. Still there was
very little stock on sale, and fair quaint
ty of good to low bakers brands could be
handled reasonably we'll, although the
wkeat market was having more Or less in
fuence in keeping buyers away. RE -four
was dull. Bran and all millstugs we're in
lighter request, and hardly as firm. Wheat
was fairly active, but prices were decided
ly weak and lower, October closing about
&c lower than Saturday, November 1870
lower, December 211ssc lower, and Nay 293lc
lower. The market opened from ~ to
Ac below the closing figures of Saturday,
but there was a general rush to sell, with
very little disposition to buy, and prices
Immediately commenced to decline, No
vember falling off irregularly about Bc,
December 211sc, and May %. Afterwards
there was some reaction, prices fuctuating
the decline. The decline seemed to be
due to the fact that holders were becoming
discouraged, and threw their property
onto the market and there was very little
demand to sustain it. On call the demand
was active, and offerings moderately large,
with sales of 500, 900 bushels, mostly of
November and December. There was q
large speculative business transacted.
The weakness was attributed to very liber-
al speculative offerings, Influenced by
liberal stocks in sight and the limited
shipping demand. The receipts were large
and market advices from other points
were of an unfavorabie tenor. Margins
became absorbed by the decline in price,
and this aided to increase offer
| ings to sell. Failures abroad in New York
helped the bears, and prices touched the
lowest price of this crop, and there were
more sellers than at any time before.
Holders are tired out. At one time during
the session trade was immense, and hold
ers constantly making concessions. The
close gave very little Indication of q re
action. Continued pleasant woatbec will
cause lower prices tomorrow.
Corn was active at lower price. Fine
weather, free receipts and unfavorable
, market advices from other places. together
with the weakness in wheat and provisions.
exerted weakening feeling in corn, and
there were free offerings to sell. Numer-
Gus lots also were sold out OF account of
margins becoming exhausted. The ship
ping demand was fair. The market
opened about 80 lower, declined B@Mc
more, fuctuated and finally closed about
20 lower than Saturday. October was
2sc lower, November 4c lower, year &c
lower, and may &c lower. The first sales
were within about 1lc of the closing Sat
urday, but owing to heavy receipts there
was q general effort to sell, and prices
quickly dropped. very few sales having
been made at the outside, November grad
ually declining 10, year 10, and May go
After this there was little rally, and
prices recovering 4@3sc, again fell and
closed easy. On call corn was moderately
active and frmer with sales of 100000 bush.
els, mostly of November. Nobody dares to
sell short at the decline. and the bulls are
exhausted. Still lower figures are looked
for tomorrow, and the break would have
been much sharper to-day had it not been
for free covering by the shorts. However
it is thongh5 q bad spell of weather or an
uptura in wheat would cause sharp ad-
| vance.
In oats speculative operators were in
| light attendance. There was not much
doing, and in sympathy with the surround
| ing weakness prices were easier. The
shipping demand was only fair.
Buyers also took advantage of q
weak market and for sample lots prices
were reduced. The arrivals we're liberal
and sample offerings quite heavy. On call
oats were quiet and steady, with sales of
| 10000 bushels May.
A decline of 10 was sustained in the
price of cash rye, and futures were 10 &c
lower. The market was very dull and de-
pressed. NJ shipping demand of conse-
mand was also suppressed by the weak
surroundings, while the offerings on the
other hand were liberal of cash and more
or less desire manifested to sell by parties
long on the different futures.
Barley continues quiet, and prices were
ruling very low, with heavy arrivals and
largely of the poorer quality, and only a
limited home md shipping demand bring
ing about this dull tone and lower range
| The absence of speculation has had lis in
fuence in giving this weak tone, and for
the past year or two operators have been
slow to trade for futures in either direct
ion. A good call for the better and brighter
samples OF No. 2 and No. 8 for shipment
and from home brewers and maltsters, but
it was the very dark and poor samples that
had to go at exceedingly low prices. No
in store was quite dull. All the grades
below No. were exceedingly dull and for
which there was little demand.
| In provisions an unsettled and week
feeling prevailed during the greater por-
ton of the day and trading in the aggre-
gate was comparatively light. Specula-
tive operators are not disposed to do
much trading, being favored with fine
orders and the purchases of shippers are
moderate, as prices were deemed unsatis-
factory. Foreign advices were little
more favorable to sellers, and quotations
were advanced Cd on lard and Is on bacon.
Reports from eastern markets indicated a