St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-04-06
The Bears Again Raid the Wheat Pit
and Force that Cereal to a Gent
Lower Than Saturday.
A Belief that the Danger Line Has Been
Reached Prevents the Bears from
Selling Peeely,
And the Bulls Have Been Caught SO
Often that They are Afraid
TO Buy.
Other Cerals Share the Weakness OF
Neutrality-suspicious. Ffrmer--
The Stock Market.
Chicago Grain and Provisions.

Special TO the Globe.
CHICAGO, April 5.-wheat opened 20 lower
than it closed Saturday and the local crowd Oh
room traders began selling the market down
from the Jump. May fell to 1899 and June
TO SI16c a sheer descent from Saturday OF
l1Sc. Only one or two small lots were oougnt
at 7915c, bnt quite quantity changed hands
at 79150795kc. The market became stronger,
though the temper of a majority or the oper-
aJors III the pit continued oearlsh. Inc pur-
chasing was of a character TO JUSTIFY the De-
lief that some very large lines OF short wheat
were covered aud brokers, who usually rep
resent Cudahy, were uncommonly active,
first in breaking the market. and thenln buy-
ing. On the other hand offerings from GER
tain quarters were exceedingly free, ana the
suspicion grew that, though Cudahy might
be ''eyening up" other traders or almost
as heavy calibre were feeding the crowd Tor
turn on the short side. The official report
of clearances from New York amounted TO
nearly 200, 900 bushels, and cables were rather
better in tone, but the auxiliary domestic
markets were lacking in snap and Vigor.
They seemed to hang with evev more help
lessness about the neck OF Chicago than
usual Outside orders were small, but rath or
larger than on any day last week seemingly,
while the generality Of room traders were
CAUTIOUS ABOUT VENTURING
far into the pool. A feeling that wheat Is on
the danger line prevents great many OF the
chronic bears from selling, and bulls who
have been caught so often are slow to take
hold until they see decided drift their way.
That makes dull business. May sold up TO
1890, and the market seemed in very good
shape when the news came OF the suspension
Of the Duluth branch of the Milwaukee
house Of Hooker, Critteuden Co. Prices
dropped 1lc, May touching the lowest price
Of the day, 1899. Considerable uneasiness
was felt as TO the extent OF the failure, but
when it was learned that the Milwaukee
house was not involved in the disaster the
bulls breathed easier and the market hrmed
up, closing at 7a1207s3.c for May. There
was big trading in corn, but fluctuations were
not wide. Partridge, Orr, Crittenden &
Comes, Fraley and several other houses sup
posed to have been short a great quantity Of
property, bought largely, and yet the market
declined in the face of their purchases,
closing weak At l o'clock, go lower than Sat
urday.
SPECULATION IN CORN.
is experiencing revival apparently. Oats
suffered decline of 1c for cash and 94c for
May to-day, and considerable excitement
prevailed in the oats crowd. Provisions eX-
hibited u decidedly hardening tendency, and
the closing vt o'clock was 1T the best prices
OF the morning session, the market showing
up in strong contrast to wheat. Prices huc-
tuated in an uncertain fashion until well
along in the day, when quite buying Of all
products-pork, lard and ribs-staIted the
shorts to cover and they became free buyers.
Inc gam on the Gay was nOL urge, Out tue
market seemed to have suddenly assumed a
drmer tone from some cause not apparent on
the surface. Wheat was quiet and steady
on the afternoon board. and closed without
appreciabe change from prices ruling at
o'clock. Corn and oats experienced break
the former of &c and the lstt or of &c. Pro-
visions firm. Tomorrow being election day
there will be no session Of the board.
PETER BERKEY. Pres. +. W. ANDERSON, Cashier.
G. w. GRiGGS V. A. G. ANDERSON O.
THE ST. PAUL NATIONAL BANK.
CAPITAL. $500, 900.
Coruer Fifth and Jackson streets