St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-10-16
THE COMMERCIAL RECORD.
Influences of a Bearish Character Cause
a Heavy Slump in
Wheat.
Corn, Oats and Hog Products Rule
Weak and Close Away
Off.
Financial Operations in the Monetary
Csnters--The General Quo
tations.

CHICAGO, Oct. 15.-Wheat promises to prove
extensive TO those who undertake TO follow
the market, which is more clearly H. the
hands of professionals than for many weeks.
The strike is not so much now between bulls
and bears as between clques. Mr.. Hutehln-
son continues to be clique all by hlmsen.
The effect of the business credited TO FAR
bank is the other big influence in the pit. In
the near future 1t is thought that much VIII
depend on whether there is harmony or
faIl-out between these leading powers. This
morning both cliques were selling. The re-
suit was break of over &c i'll the price OF
December. 1t was all done without any
wild scenes or any great sur
prise to the trade. Through fears
of a deal in December the crowd was
frightened into covering in that future, ana
selling the May late last week. To-day the
manufactures put December from &c pre-
MUM to lie discount by putting December
down nearly &c and May down but &c. There
is % big profit in just this kind Of see-sawlng
If they should never run a corner. The acuoh
of the leading futures up to p. III. was as
follows: November, SLIP, up to S1.12l2,
down to 81 TO- and up to 81. 10l2; December,
SI.15, down to SI.l3I2, up to Sl.l4A, down
to 81. 1Os4, and up to S1.11A; May, S1.13,
down to SLIP, up TO Silica, down 10
Sl.l1I2, and up to S1.12. At other markets
there was less relative changing III futures
but prices were unsettled and lower. AT New
York December started lac lower at 81. 1915,
and declined early to S1.11ss, with export
ers selling. At st. Louis December touched
Sl1O the first hour. Milwaukee opened
nearly Sc lower at SI.O6I2. Duluth went off
from SL204 to SI.17A. The visible supply
of wheat decreased for the week 723.O00
bu. Receipts here were 119 cars. About
10000 bu were exported at Atlantic ports.
The last few minutes of the session brought
little change in prices in the wheat pit. The
corn market broke &c to-day under
big receipts and attempts to sell
for Hutchinson. The receipts this
morning were over 500 cars without the
Galena division, which would put the figures
up to about 500 cars. Then the estimate for
Tuesday is over LOO cars. The first prices
were a fraction under the close on Saturday,
and the decline was very slow early. When
Hutchinson house undertook to sell largely
the price went down to 44c for November.
Just before the close there was general
selling by small holders, and November
closed at 43I2c, or &c under Saturday. Octo-
Der sold early at 45Isc and closed at 43Ac.
December closed at 4OAe; May SOC. Char
tiers were $4,000 bu at &c to Buff
12lO. OdlS WCIO QulCI SuduC
lower for futures Receipts were 264 cars.
The provision pit was pretty well deserted
a large part of the time and there was little
of interest in the market. There was liberal
selling of October and November lard on the
call for Fairbank, the latter option ranging
during the day at SS. 42I21S.60, and closing
at SIS. 47I2, or 2l2c lower than on Saturday.
the same decline being shown in the current
month. January pork sold $14 25@1447I2
closing at S143O, or 12l2c lower than on
Saturday. Ribs closed 1212c lower for Oc-
tober, and 12l2c lower for January, at S.. %
and $7.25 respectively.
THE ROUTINE REPORT.
CHICAGO. Oct. 15.-The wheat market to-
day ruled heavy, and prices suffered a ma
terial decline all around The offerings, in
the first place, were just large, and besides,
other influences were of a bearish character.
prominent local trader who has figured on
the bull side was credited with being the
principal seller At the same time, while the
offerings were large, there was but little de-
mand to meet the offerings, and a sharp
break resulted. The opening was 1@2c
lower than Saturdays closing and with
small fluctuations December declined 3l2c
more and May 1850 more, then rallied lac,
fuctuated some and closed &c lower for De-
cember and 3S4c lower for May than Sdtur-
dav. The weakness was influenced some by
the sales at Minneapolis, and also by in
creased arrivals at interior winter wheat
markets. The corn market was generally
active but weaker, and prices lower. The
opening was unsettled at about the same
figures as Saturday close broke S4G1c for
- October and November and Ssc FOR
NAV. rallied 4@Ssc. but weakened and
declined 1Ssc, rallied S6c and closed quiet
and easy at almost inside prices. The feel
ing in the speculative oat market was weak
and Isd3sc lower prices prevailed and trad
ing centered mainly in May. Trading was
rather limited in mess pork and prices were
irregular within a small range. January
met with most favor. No particular press
ure to sell and inquiry light. Sales were
made early at 2l26L5c advance, but receded
again 20G25c and closed quiet Only fair
business was transacted in lard. Early the
feeling was trifle stronger and prices were
slightly advanced. Later there was a little
inclination to SELL especially the near delIv-
rieS, and prices receded 1C012l2c. The de-
ferred deliveries showed some steadiness and
only receded 2l2c from the outside figures
reached Very little interest was manifested
in the market for short rib sides, barely suffi-
Gent trading to establish market. Prices
exhibited no important change.
THE GENERAL QUOTATIONS.
Wheat-No. 2 October, closing at S109;
November opened at SLIP, closing at
81 .O9S4 December, Sl.14, closing at 81. lis |;
May, SI.13, closing at S1.1O5s. Corn-No. 2
October opened at 45l5c, closing at 4314c;
November 45I2c, closing at 43I2c; Decem-
Der, 4lIsc, closing at 4014c; May, 39s4c, clos
ing at 39c. 0ats-No. october opened at
244c, closing at 24lsc; November, 2414c
closing at 24I2c; December, 25Ac, closing at
25Isc; May, 29Ssc, closing at 29Isc. Mess
Pork, per bbl-November opened at 14.42I2
closing at SI4.30; January, Sl4.45, closing
at S143O; May S14.67l9, closing at S14. 57l2
Lard per 100 lbs-0ctober opened at So 10
closing at 50; November, $500, closing at
SS.47I2; December, So. 22l2, closing at $500;
January. S. 20. closing at S9.17l2. Short
Ribs, per 100 lhs-October So. 37l2, closing at
SS25; January, $3.50, closing at S7.25.
Cash quotations were as follows: Flour
dull, holders ask former prices, but the de-
cline in wheat has taken buyers out of the
market Wheat-No. 2 spring, S1.0S4Q
LOG; No. 8 spring, 93@96c; No. 2 red,
SI.0SAG1. 90. Corn-No. 2, 4314c. Oats
No. 2, 24Isc. Rye-No. 2, SOC. Barly-No
2, firm. Flax Seed-No. ]. S1.46Q147.
Timothy Seed-Prime, S1.50Ql.51. Mess
Pork-Per Dbl, SIS. Lard-Per 100 lbs So
Short Ribs-Sides Qoosel, s. 50; dry sailed
shoulders (boxed), S.. 620S.75; short clear
sides (boxed), S921@9.25. Whisky-Dis-
tilIers finished goods, per gal. 81. 90. Sugars
Cut loaf, SAG Slac: granulated, 7s4c; STAN
dard A, 7I2c. Receipts-Flour, Il 900 bbls;
wheat, 10000 bu; corn, 299, 600 bu; oats,
254,O00 bu; rye. 10000 bu; barley. $4,000
bE. Shpments-Flour, z, 900 bbls; wheat,
1900 bu; corn. 39I. 900 bu; oats, 249 900
bu; rye 80, 600 bu: barley, $1,000 bu On
the produce exchange today the butter mar
Ket was firm and unchanged. Eggs steady
and unchanged.