St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-10-09
TIE COMMERCIAL RECORD
Ee y Selling by Overloaded Bulls
Causes Break in the Price
OF Wheat.
General Weakness in Corn, Oats and
All Manner Of Hog
Products.
Financial Operations in the Monetary
Centers---The General Quo
tations.
Special to the Globe.

CHICAGO. OCI S.-NOt since tue price VI
z. heat passed 81 has the crowd been so nerv-
GUS and unsettled as at the opening to-day
The top points reached on Saturday con-
WINGED every one except the bull, who is
always bull whether prices be high or low,
That the advance was Overdone. ORDERS
from eleventh-hour buyers started the hrst
prices at a very high point this morning.
The first figure on December was sl.Z2.
There were 100 sellers to every buyer, ana
the price was at Sl.2l in less than thirty
seconds. AT the end Of the first hour Inc
price was 1884 and the market appeared 10
b. held by some influence. Al IL a. M.
there was another softening. The price
dropped to SI.lSA and fifty offered
il al ST. Is even, and in three minutes more
Il rested al SLY. or DC under the opening
figure. The wheat market was not without
Its terrors to-day for operators on both sides OF
the market 1t started at the highest point OF
the year, took a plunge of &c, reacted 2l2e,
started downward the second time about
,loon. but quickly regained most of the de-
cline. and at thirty minutes before the close
the price for December was Sc under the
opening figure The action was S1.22 down
10 SLI7. up to SI195s, down again TO
Sl.ISl4 and returned to Sl.19. May sold at
81 22la, down to Sis, up to Sl2Oss,
down TO 81. 1914 and up TO S1.l9s4 the
sales in November were between Sl.lOl2
and Sl.I9ls The increase in the visible
supply was $1,000 bu. Export clearances
were 10000 bu of wheat and -four, with
but I6. 600 bu of wheat. Receipts here were
ESQ cars. with 200 for Tuesday. Total re-
Ceipts at leading points were 047,OOo bu,
with 1872, 900 at Minneapolis. There Is much
speculation here over the attitude OF the
large operators. If they are long and there
should be a disagreement among them, the
price may be precipitated in way that VIII
wreck many who have taken on good
loads of wheat. The manner in when
the break was checked to-day causes
many to believe that the big longs
viii not permit any dangerous raids
The corn market suffered from Hutchinson
to-day His transactions caused the fluctua
lions to day, and after about ll2c range, the
Closing price was about the same as Satur-
May Receipts were 675 cars, and the esti-
ssiate for Tuesday 6l5 cars. The out inspee-
sion was 100000 bushels with charters re
ported to-day for 267, 600 bushels. The visi-
lie supply decreased 10000 bushels DC
tober sold 1890 up to 45l4c, closing at 4olsc.
November 45Isc, down to 44lse, up to 45l2c,
back to 45c, closing at 45Ac. December
closed at 4IIsc, May at 34Ssc. The bulge was
quickly made. and the manipulators were
credited with selling much more than they
bought Oats closed steady for May and a
fraction lower for early futures. Receipts,
$50 cars with $40 cars for Tuesday. Re
Ceipts of hogs were comparatively large
to-day, and provisions were lower in conse
ouence Pork closed at Sl4.70 for January
and SD 30 for October, about where il did
on saturday, bat during the morning II sold
down 10 SIS. 05- for October and Sl460 for
January. October lard sold at S9.9O01O.O5.
closing AT $40. a decline of 12l3c. Novem
Ter sold at S909.17l2, closing atthe outside,
q loss of &C. Ribs closed 25c lower for Oc-
teber. nj 1910: January sold. al S7s37 ts61-
T.4=ia. closing at S7.42I2, or 2I9c lower.
The ROUTINE REPORT.
CHICAGO Oct S.-A fair business was trans
rcIed in wheat to-day. and the same nervous
ana unsettled feeling which has prevailed
lately existed. Fluctuations were frequent
and violent, and considerably lower prices
established than ruled at the close of Satur-
dav. The strong closing Saturday brought i'll
some selling and also a number of buying
orders but there is no doubt that there was
more indisposition on the part of local
operators 10 realize, and the offerings were
suite large, while the buying was reported TO
Se principally by outsiders. The opening
=yas unsettled with sales made from a trife
s3nder to sac over the closing figures of Satur-
jay; then declined regularly 5@5lac;
then rallied 2Ac, huctuated and closed
about 27Sc lower for December and
of saturday. a fair degree of activity was
manifested in corn, the feeling being rather
unsettled and fluctuations were within lSsc
range. The opening was weak, first sales
leing I46Ssc under the closing prices of
Saturday. after which the market sold off
lac advanced l2c, reacted 7sc, became firmeT
and sold up 13Bc. ruled irregular and closed
with october and November al about the
same as Saturday. The influences governing
The situation were to great extent local, the
operations OF q prominent trader having
considerable 10 do with the course of the
market Oats were weak under The influ-
cnces of a light demand. easier markets
for wheat and corn and expected
$50 decline May was The active option
and closed Isc easier In mess pork
moderate activity was noted early. Opening
sales were ut materially lower prices on the
ltear futures. due 10 fair offerings and alb
scnce of demand The deferred futures al
Though sympathiZing to a moderate extent.
Nera comparatively steady. rally followed
'iil dtcliI e, and the market closed quiet and
Sic rs NJ -20G25c advance on October and
November ana 2l2c on January. \ weak
Iet.Ius developed in October lard. and prices
declined l5c from Saturdays closing. owing
&c lille demand. November, year and Janu-
Ua.y received the most attention. The first
tNl named declined 25c. while January only
treEe i2l2c. Late in the day Il rally occurred
thai carried prices 10 about opening figures.
I'll market for short ribs was moderately
&C Sc, and prices ranged lower. Offerings
~ rt"Ner were free. and prices declined
2l2c January broke Toe.
me GENERAL Quotations.
Wheat-NO. October opened al 81 1914
closing at Sl.l6l2; November, SLIDE clos
ins a Sl.17I2: December, Sl.22 closing al
81 lNS4: May, 81 .22i2. closing at Sl.20.
CuTm-No > October opened at 44l2c, closing
al l5c November, 45Isc, closing at 45hc:
December, 4lS4c, closing at lilac; May
:5g5sc, closing al 39ssc. Oats-No. > October
opened at 24lsc. closing al Ole: NoYem
her 2I7sc closing at 24Ssc: December 25I2e
closing al 25Ssc; May. 29lsc, closing at 29lsc
Mess Pork, per bbl-October opened al
SD -, closing al $3.50; November. S14 70,
closing at Sl1.72l2; January, S14.67l2 clos
ing at Sl4.70. Lard, per 100 lbs-Octobel
opened at Sl0.05, closing at $40; November
S:,I5, closing at S9.17l2 January, Ss.37l2.
closing at $3.50; year. $3.50, closing al
s. 42i2. Short Ribs, per 100 lbs
october opened al $500 closing al
go; January S7.42i2 closing at 81 10
Cash quotations were as follows: Flour
steady and unchanged; patents, $3.50
$50 bakers, S4.600465: choice. So lOG
- winter, 50 1906 Wheat-No spring
81 I5k@l16l2: No. 5 spring, 9Sc@Sl 03
40 red, SI.15Il .l6I2 Corn-No. ,
zoe Barley-No . nominal Flax Seed
No l. S1.4O. Timothy Seed-PTime. $3.50
Pork-Mess, per Dbl. $3.50. Lard-Per l0C
lbs $40 Short Ribs-Sides Qoose). Sc. 250
$50. Shoulders-Dry sailed (boxed), IS. S7l.
as Sides-Short clear (boxed) S9.7501O
Whisky finished goods, per gal
s. %. Sugars-Cut loaf. Sl40 S5se: granu
lated, Use: standard A, 7i2c. Receipts
Flour. 2l.OOO bbls wheat. 5000 bu; corn
10000 bu; Oais, 244.G00 bu rye. -. 0eO
tn barley 100000 bu. shipments Flour
% Coz bbls; wheat 10000 bU; corn, 26l,
coo bu; oats 2I900O bu; rye, 5000 bu
barley. $4,000 bu.. On the produce ex
change to-day the butter market was que
and unchanged; eggs steady; choice north
ern. 1880 l9c.
r. M. NEWPORT & SON,
Investment Barkers.
152. 1873, 154 Drake Block. Loan Money
on ImprOVed Real Estate Security.