St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-10-09
TIE COMMERCIAL RECORD
Ee y Selling by Overloaded Bulls
Causes a 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.

< 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 a bull whether prices be high or low,
That the advance was Overdone. Orders
from eleventh-hOur buyers started the hrsi
prices at very high point this morning
4 he first figure on December was SIZz.
Ihere were 100 sellers to every buyer, ana
the price was at SI.2l in less than thlrly
seconds. AT the end Of the first hour inc
price was Lisa and the market appeared 10
/. held by some influence. At II a. m.
there was another softening. Inc price
dropped to SI.lSA and fifty onered
il III lis even. and III three minutes more
Il rested al SLY, OF sc under the opening
figure The wheat market was not without
itsterrors today for operators on both sides OF
lie market. 1t started at the highest point OF
the year. took plunge of sc, reacted 2t2e,
Started downward the second time about
..oon 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
u SI.I1. up to SLIDES, down again to
SIISI4. and returned to Sl.19. May sold at
SI22ls, down to Sis, up to Sl2Oss-
down TO Sl.l914 and up TO Sl.l9S4. Inc
sales in November were between Sl.lOl2
and SlI9l2. The increase in the visible
supply was $1,000 bu. Export clearanees
were 10000 bu of wheat and -four, with
but ID. 900 bu of wheat. Receipts here were
: 30 cars. with 200 for Tuesday. Total re-
Celpts at leading points were 047,OOo ou'
with 1862. 600 at Minneapolis. There Is much
speculation here over the attitude OF the
large operators. If they are long ana theTe
should be disagreement among them, the
Price may be precipitated in way that VIII
y reck many who have taken on good
loads of wheat. The manner in when
the break was checked to-day causes
many to believe that the big longs
I-iH not permit any dangerous raids
che corn market suffered from Hutchinson
to-day. His transactions caused the huctua
Ions to day, and after about ll2c range the
closing price was about the same as Satur-
Wav. Receipts were go cars and the est
Niate for Tuesday 6l5 cars. The out inspee-
zion was 100000 bushels with charters re
ported to-day for 267 600 bushels. The yisi-
lie supply decreased I62. 900 bushels DC
tober sold 1890 up to 45l4c. closing at 40'sc-
November 45Isc down to 44lsc, up to 45i2c,
hack 10 45c, closing at 45Ac. December
closed at 4IIsc, May at 3I$Sc. The bulge was
fliltElA ulfitlc. anu lllG Ali4lA lliAdbSA0 w.
credited with selling much more than they
bought OATS closed steady for May and
fraction lower for early futures. Receipts,
$50 cars. with $40 cars for Tuesday. Re
Cripts of hogs were comparatively large
to-day. and provisions were lower in conse-
ouence Pork closed at Sl47O for January
and SO. 30 for October, about where il did
on saturday. but during The morning il sold
down 10 So. O5- for October and SLIGO for
January October lard sold at S9.9061O.05.
closing at $40. a decline of l2Iac Novem
Ter sold at S909.17I2, closing atthe outside,
g. loss Of SC. Ribs closed 25c lower for Oc-
tobcr, nj 500: January sold al $751; ia,
g.4-la. closing at S7.42l2, or 2l2c lower.
THE ROUTINE REPORT.
Chicago. Oct S-A fair business was trans
rcIcd i'm wheat to-day. and the same nervous
ana unsettled feeling which has prevailed
.atelV existed. Fluctuations were frequent
and violent and considerably lower prices
established than ruled al the close of SatlT-
Gav The strong closing Saturday brought in
come selling and also a number OF buying
orders but there is no doubt that there was
more indisposition on The part of local
operators to realize, and the offerings were
suite large, while the buying was reported 10
y principally by outsiders. The opening
sys> unsettled with sales made from a trifie
.snder TO sac over the closing figures of Satur-
-tay. then declined regularly 565l2c;
llcN rallied -l4C, UuCtUttcu ana CLOSED
about 27Sc lower for December and
33iv lower for MAY than the closing figures
Of saturday. 4 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
Eeiag II6Ssc under the closing prices of
Saturday after which the market sold off
l9t. advanced Ice, reacted 1Sc, became frmeT
ana sold up l3sc. ruled Irregular and closed
with October and November al about the
same as Saturday. The influences governing
thr situation were to a great extent local, the
operations OF prominent trader having
considerable 10 do with the course of the
market Oats were weak under the lnflu-
cnce> OF a light demand. easier markets
fpr wheat and corn and expected
heavy receipts. Near futures show A0
S-c decline May was The active option
md closed lac easier In mess pork
moderate activity was noted early. Opening
GALES were NJ materially lower prices on the
licGr futures due 10 fair offerings and alb
sersc of demand. The deferred futures, al
though sNmpathiZiug 10 a moderate extent
WEI comparatively steady. a rally followed
IA. dCcliI e. and the market closed quiet and
So. Is ~ 20T23c advance on October and
November ana 2lac on January. weak
y. .Iu- developed in October lard. and prices
I.r.ucd l5C from saturday closing. owing
=. ,l.Jie demand. November. year and Janu-
9.a.r received the most attention. The first
"a named declined poe. while January only
tr.ze i2I2c Late III The day Il rally occurred
1l#- |fltt e prices 10 dtGAl opening u8ult~
I'll market toI short ribs was moderately
ac see. aud prices ranged lower. offerings
o. i"'.rr were free. and prices declined
2l2c January broke Zoe.
ms GENERAL QUOTATIONS..
Wheat-NO. = October opened al Sll9l4
closing al Sligo; November, SLIDE, clos
in ~ sl.17l2: December. Sl.22, closing al
81 I>s4: May. 81 22l2. closing at Sl.2O.
Cuiu-No > october opened al 44l2c, closing
a. l5c: NOyember, 45lsc, closing at 45hc
December, 4l$4c. closing at 4llsc; May.
.iS5sr, closing n 39SSc. Oats-NO. october
opened At 24lsc. closing AT pic; NOyem
her 245sc, closing at 24Ssc; December, 23l2c,
closing al 25Ssc; May. 29isc, closing al 29lsc.
Mess Pork per bbl-October opened at
SD -. closing at $3.50; November. 81. -.
closing at SlI.12l2; January, Sl4.G7l2. clos
ing at SI47O. Lard, per 100 lbs-October
opened At SlO.O5, closing at SO; November,
S.'.I5, closing al S9.l7l2; January, SS.37l2
closing at $3.50; year. $3.50, closing at
s l2i2. Short Ribs. per 100 lbs
0rioher opened al $500, closing al
go. January. ST.42l2. closing at S747 -.
cash quotations were as follows: Flour
steady and unchanged; patents, Sz.2JN
10 bakers S4G001.65. choice. S5lO0
- winter. 50 1906 Wheat-No spring,
s. I5l.6tl 1872; No. ; spring, 9Sc@Sl. O3
10 red, Sl.l5Gl.1Gl2 Corn-No. ,
44&.c Oats-NO. ., 237sc. Rye-No. >
soc Barley-NO. nominal. Flax seed
Nu !. Sl.4O. Timothy Seed-PIime. ;. so
P9gk-Mess Ter Dbl. SD 50. LaTd-Per 100
ib>. $40 short Ribs-Sides Qoose). 50. 250
go Saoulders-DTy sailed boxed, S.. s7l2
tG Sides->hOrt clear boxed. S9.130l0.
Nli>ky-Distiliers finished goods, per gal.
s. % Sugars-Cut loaf. Si40 S5sc: granu-
lated, use: standard 4, 7l2c Receipts
IIHrr. 2lO00 bbls; wheat $4,000 bu; corn,
10000 bu; oais. 244GO0 bU;rye, "a. o
tn barley. 100000 bu. shipments Flour
26r0' bbls; wheat. 10000 bU; corn, pol
OO0 aII. oats. $4,000 bu: rye. 5000 bu:
barley. $4,000 bu.. On the produce *
change to-day the butter market was quiet
ana unchanged; eggs steady; choice north
ern. lSi20l9c.
z. M. NEWPORT & SON,
Investment Bankers.
1872. I53. 154 Drake Block. Loan Money