St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-06
Despite Eastern War Rumors and
Colder Weather, the Bears
Get the Lead,
Forcing Grain Markets Down Until
Wednesdays Advance is
Almost Lost.
Provisions Manage TO Hald Their Own in the
Face of Declining Wheat Market
and Heavy Selling
Stocks Held Well Up by the Bears. Though
the Closing Prices are not
High Yesterday.
Chicago.



Special Telegram.
CHICAGO. Feb. 5.-The leading articles on
Change to-day were geurraiiy depressed and
lower, wheat an corn leading Ia the decline.
The lower prices were contrary to 81! prece-
dent, charged mainly to war news Taere
was liberal selling Of wheat, the steady de-
cline bringing out good-y showing OF stop
orders. Toward the close OF the morning
session there was a slight recovery from the
lowest points. Tue afternoon board markets
were nervous and weak, prices falling off
from the highest figure of the day, closing
weaker in wheat, corn and oats. May options
closed weaker as follows: Wheat S3%c, corn
4O14c oats 305Sc. Provisions did not share
in the general weakness, higher prices being
asked for all hog products, and closing quo
tations were slightly better than those Of
yesterday. Notwithstanding the fact that
there was more
SENSATIONAL FOREIGN NEWS,
announcing the fall of Khartoum and the
capture Of Gen. Gordon, the markets opened
easier on 'change to-day. Even the cold
weather signals over half Of the country, and
the fact that the wheat market closed last
night with almost panic among the shorts
had not the usual strengthening effect,
and wheat dropped l3Ic within an hour.
Yesterday the st Louis crowd got up quite
nice little bull movement on tue strength Of
war news. To-Day when there was war news
in good earnest, neither bulls nor bears paid
any attention to it. The fall Of khartoum
and the possible capture Of Gordon is sub
ject which bad charms for lungers in the
commission Offices, but to the crowd in the
wheat pit it wasn't worth ceut in compa.i-
son to the question.
HOW TO GET RID OF THE WHEAT
they purchased at Yesterdays nigh notch
Although great excitement in London was
reported, as well as all sorts Of rumors con-
corning Gladstone's actions, it WAS remark
able that the British securities held firm and
were strong. As q matter Of fact the wheat
crowd is now looking nearer home for causes
likely to influence higher or lower prices.
report from ST. Louis this morning denying
the statement that crops in the southwest
were being greatly injured by water and ice
was Of more actual service to manipuators
than anything occurring on the dark CONT
nent. At the opening the grain markets ex-
hibted fair speculative activity, but the feel
ing was nervous and values irregular. Wheat
receipts were trihe smaller and foreign
markets were reported stronger and the
OPENING SALES
averaged shade better than yesterday. But
there was little supporting strength from
outside orders, While many Of the bears
thought yesterday's advance justified free
selling and prices went off at &c from the
opening for May, selling from S4S[ to SAC
very shortly after the opening.
From this point steady decline set in.
Crittenden and Kent were among the heaV-
lest sellers Of long stuff, and these heavy
sales, coupled with reports Of an increase OF
1000, 900 bushels on passage, had the effect
of depressing prices to sou before the close
Of the morning session. or course all the
causes Of weakness were speculative, but the
heavy selling of the few scared tie majority
and they assisted in hammeriug prices. Sid
Kent commenced unloading early. The
wheat he had bought the early part of the
week n S2653c was freely offered aud
KENT's HOLDINGS
were known to be large enough to make a
bad break in prices If he offered all Of them
for sale at ruling prices. When it dawned ON
the crowd that Kent was really unloading
every member wanted TO sell too, and in a
twinkling the pit became from oullish very
bearish and the price Of the May option dropped
in twinkling. May wheat ope ned at s32Ic,
Wednesdays closing price, and sold up &c
higher, but under bearsh influences went of
TO sake, closing sc better. February wheat
closed Sc Of at 1T}6c, aud March stuff was
inactive with but
FEW TRADES
recorded, closing at i { .ow the latest bull
letin OF wednesday. The bulls are hardly so
confident as they were last night depending
greatly upon the crop reports to assist an ad-
vance In prices"
'The large Increase in the nv ailable supply
aud the steady movement to market from
the interior is the reverse Of encouraging
TO the buyers" said A. VI. Writ tht, land un-
less there should be genuine ,rop scare or
some unlocked for development 80 strengthen
the situation | see little on W. itch to base
purchases for an advance"
"A decided change in pricesi can hardly
be expected for some time" said Geo. W
Sheppard. AT least not until he crop reports
are more dedu tie aud the
EFFECT OF EASTERN RAts
Is felt In our own market l lock for in
creased activity hut prices Must necessarily
remain unsettled"
"The market is In condition 10 advance
easily" said VI. L. Bodmau, land / thiuk
that prices are bound to adva nee in short
time. II the truth Of war rum, rs Is verified
there can be no doubt of better prices" ~
see nothing upon which TO basel expectation
OF higher range Of values Ia the near IN.
ture, said c. D. Hamin. Foui hundred aud
eighty cars Of cora received to- aay staggered
the crowd, which occupies itself, betting as 70
the future price y; that article. stu, prices
held up pretty well, the May option selling
no lower befc.re noon than &Jac. The
opening price WAS 40Ec. the same as las,
nights close. Tue trade was not large, and
the comparative irmness OF the market was
aitr ,buted 10 = desire on the part ~ nun
Der Of
rus LARGER TR,DeRs
90 make thlpgs warm Tor To heavy sellers
Of vest .riay Notable smo ne these sellers
"Ne wv NiNFt FNt.iA NANNtAA -
whes com rnenccd. corn lose ia suap snd
trasing WAS duh A.tsoa u iac course a
values VAS largely governed By wheat, the
" lstivc decline was uot 50 grasG bat buyers
'NS an advance were reutvrri c1u:ioas by
the setting Of tue wheat marx It. There vas
also heavy outward movement which made
the
BEARS CAUTIOUS