St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-11-21
THE COMMERCIAL RECORD.
By Way OF Emphasizing the Weeks De-
cline, Wheat Takes Four
Cent Drop.
Healthy Trading in Corn, Oats Show
Complications, and Provisions Rule
Very Weak.
Financial Operations in The Monetary
Csnsers--e5 ihe General Quota
tons.
Special to the Globe.

Special 10 Inc ciOoe.
CHICAGO Nov AT o'clock to-day May |
wheat was off &c from the top price of the |
morning. with tina. future selling ut Sl.0sss. |
This was the worst break for any single day |
for, weeks, or perhaps months, Coming. |
as IL does, after Il week of declining |
prices, it was all the more remarkable. Many
thought the market ripe for a reaction THIS
morning, as was shown by the advance from
the openng price the first few seconds on
the hi dding for single block OF 100000 bu
by one puI ger. Instead, the market was
ripe for Il shaking out. II may be said, in
brief. that orders did it-stop orders
placed long ago and forgotten ali
about until the slide i'll prices
began The deal was very largely
local II is difficult TO state just what started
the break this morning, but once started all
the longs who have been weary of their load
for weeks threw it overheard. Some OF the
big bears who covered yesterday were lead
ing sellers to-day. The miscellaneous selling
was long wheat, helped along by the bears
short. May started al 81. 121l. sold 10 SLICE.
off to Sl.116s. up to S1.1 off to Sl.10s4
and again up TO Silly. Up TO this point
the day was much like former days. Then
the noon decline set III. At 2:10 stop orders
sent the price l2c lower, ana when at last
slice was reached more stop orders sent the
price to the bottom touched at l p. H..
S10S6s or ic below the morning price. De-
camber started at ST. 934, and kept pace with
May touching S1.04. After these figures
there was resting spell and q reaction TO
S1O9Is for May. Everything else was lost
sight of in the desire TO get from under
wheat. There was feeling of steadiness i'll
wheat at the close after a reaction OF about
lie from bottom prices. Receipts were 16
ears. The trade in corn was much like that
pf Monday. pretty well out of large hands
and in a healthy state. Receipts were 572
cars with l79 ears No. grade. Hutchin
son was seller early of December and jan
uary. Prices ranged: For November. 39ls
f139lae closing at 3JIsc; December, 3Slsc
down TO 37ssc. closing at 377sc, or 4c
lower; May, 3934c. The oats deal was
complicated, the crowd very anxious
and prices higher. May was bid up lively
early. Part OF the bidding was by shorts.
The offerings were SO light that the bidders
had to put the price up to be accommodate
ing. There was claim that brokers of the
Milwaukee Clique were putting the market
I'D to sell on Receipts were 1853 cars md
10000 bushels by canal. There was a big
run of hogs at the yards and the mari et was
consequently off, which had depressing
effect on provisions The January options
of the former opened sc lower and sold down
toSl4.62I2, closing at St47J or 12lec under
last night, the May option losing Zoe. Lard
for deferred deliveries followed pork, closing
7Iz0IOc lower, while seller the month held
up pretty well. January ribs closed sc lower
at S741.
THE ROUTINE REPORT.
CHICAGO. Nov. 2O-Whnat WAS active and
prices decidedly lower. Tie decline was the
direct result of q disposition to sell. and
there was free liquidation of long" wheat.
which was constantly thrown on the mar
ket with each decline. Stop limits were
reached and margins became exhausted.
The opening was a little stronger and SS0l2c
above Yesterdays closing. and soon advanced
&c higher Then the speculative offerings
became very heavy and from Sl.l2A for
May down to $1.GSts there was q constant
melting away Of prices with no reaction of
more than !4@8sc. The market bordered
close on panic at times. mere
session, when prices recovered Iac ana the
closing was 214G1235c lower than yesterday.
An easy feeling continues to prevail in corn,
and lower prices were again established
Trading was only of moderate volume, and
fluctuations limited to SSGll2c range. Oren-
ing sales were at yesterdays dosing prices,
after which he market sold OIL Ssc, reacted
lac, became quiet and closed ls@lAc lower
than yesterday. Trading i'll May oats was OH
an increased scale at a hi-her range of
prices. There was marked increase in the
number Of outside buying orders, but q large
Local Spectators also took hold freely.
Offerings were not large. especially
during the early part of the ses-
sion and: and Priees advanced d hs @4e
closed firm. The December delivery re-
ceived increased attention. Quite good
business was reported in mess pork, but the
feeling was easier. Offerings were fair en1
the demand was moderately active at the de-
clining scale of prices mainly from the short
interest. Prices ruled 12l2@l5c lower on
the whole range and the market closed quiet.
Transfers Of contracts from January TO May
were made at 25c difference. A fair trade
was reported III lard, but the feeling was
somewhat unsettled. Early in the day the
market WIS strong at the extreme figures OF
Yesterday but the offerings were increased
later and a reduction of l0@12l2c was sub
mitted to. Transfers of contracts from Jan
uarv TO May were made at l5c difference.
Trading, in short ribs was lighter
clined 2l2@5c and closed quiet.
THE GENERAL QUOTATIONS.
Wheat-No. . November closed at 81. 0oA;
December opened at S1.09&, closing. at
SI.O5es; January, $1.0sl2, closing al S1.05la;
May SI12A. closing at $1.09ss. Corn-No.
2 November opened at 39l4c, closing at
39lsc; December, 3Sc, closing at 37!sc;
January, SIC, closing at 36s4c; May 3ss4c
opened at25s4c closing at 26lsc: Deem
Der 257sc, closing at 26Ac; May 297sc, clos
ing at 3Ussc. Mess Pork. Per Bbl-Novem-
Der closed at Sl46o; december closed at
Sl4.65; January opened at S14.77l2; clos
ing at $14.7O; May, $l5.02l2, closing at
S1492i2. Lard, Per 100 Lbs-November
opened at $3.50, closing at SO. 42l2 Deem
Der, IS. 37I2 closing at $3.50; January, $3.50,
closing at S9.25; May, $3.50, closing at
$40. Short Ribs, Per 100 Lbs-Janu-
aryopened at $7.52l2, closing at
S747l2; May, $40, closing at S7.67is.
Cash quotations were as follows: Flour life
less, but quotably unchanged. Wheat-No. 2
spring Sl.O4a46l1 .G5l2: No. 8 spring, $50
CSC; No. 2 red, 81. 04a401.05A. Corn-No. 2,
3914c Oats-No. 2. 26c. Rye-No. 2, 54c.
Barley-No. 2, nominal. Flaxseed-No. /,
SL52@1 .52i2. Prime timothy seed, Sl.4S@
so. Mess pork, per Dbl, Sl460. Lard, per
100 lbs, IS. 4212@S. Is. Short ribs sides
0oose). $7.55d7.70; dry sailed shoulders
tboxed) $7.37l2G1750; short clear sides
(boxed), Ss.12l2@S.25. Whisky-Distillers'
finished goods, per gal, Sl.20 Sugars-Cut
loaf. S14@8l2c; granulated. 7l2c; standard
A. TIC. Receipts-Flour 10000 bbls; wheat,
$4,000 bu: corn. 81 600 bl: OATS 275, 600
bu; rye, 1000 bu; barley, 53, coo blu. Ship
Inents-Flour, $500 bbls; wheat, 1900
bu; corn, 10000 bu; oats, 10000 blu;
rye, $4,000 bu; barley. $4,000 bu. On the
produce exchange to-day the butter market
was strong and higher: Elgin creamery, $40
:}5c: choice Western. 251a@l27c: choice dairy
22024c: common to fair, 20Gl21c Eggs duh