St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-09-22
The COMMERCIAL RECORD.
Heavy Covering by Shorts Sends Up
the Price Of Wheat Nearly
Point.
Corn and Provisions Close Weak, Oats,
However, Holding Close to Thurs
days Figures.
financial Operations in the Money Gen.
ters---The General Quo
tations.
Epecial 10 the Globe.

Special 10 the Globe.
CHICAGO, Sept 2l.-Local shorts in wheat
were covering freely this morning, and
Hutchinson was supplying their wants on
every advance. The Northwest is getting
more bullish every day The situation
abroad looks just the reverse. All of the
European markets were lower, as was New
York and other Eastern points which get
their colOring largely from Europe. II is
the general impression here that Hutchin-
son, Fairbank and their followers have con-
troll of all of the near futures and Hutchin-
son openly supplied their wants. December
got up to 9Sl2c by $50, but by this time so
many of the shorts had got in, while the
selling by Hutchinson continued so free,
hat there was a reaction TO 93ISe, and the
Sher futures shared in the advance. Corn
got a very blacA eye. The country was selling
heavily against corn that il has, and the re-
Ceipts continue 10 loom up. TO-morrow's
-sceipts are estimated at 10 cars. In addi-
VIou to this Hutchinson was not giving the
market his usual support, and, even if he
had, the crowd is so strongly of the belief
that the crop is made that they would sch
heavily anyway. October broke down 10
4Is4c OatS were neglected, and practically
unchanged. There was quite a break in lard.
i
tauking sides and other odd portions OF the
hog in order 10 swell the production They
araselling The product in the pit and nat
urally prices broke. The reports of yellow
fever at Memphis were found to have been
without foundation, but they had their effect
nevertheless. and all hog products ranged
lover. Oats were neglected and practically
unchanged.
THE ROUTINE REPORT.
CHICAGO, Sept ol.-EHrly trading in wheat
was only moderate and the market ruled
with some strHdiness but later, on the ad-
vance trading became more active. shorts
covered freely and there WAS also free reallZ-
Ing for December, above 93c- The general
condition remains about The same as noted
the past few days, namely, that the t0relrn
situation is Neak and the domestic quite
strong. with The Northwest furnishing the
principal bull material. Early trading was
AT about yesterday : closing prices ana al
though Liverpool quoted l2d lower prices for
spot and futures tending down. operators
We're not disposed 10 sell on this news,
those having cone so the past day
or two having III most instances been
compelled 10 pay higher prices to get
the wheat back Later there was sharp adj
vance, influenced by good buying. shorts
covered and prices gradually sold up to AD
1Ssc above inside figures. The advance
brought out free offerings, which prevenIed
the market from further advancing, for the
time being at least ana the closing was
about s4Gi sc higher than yesterday. Con-
siderable interest was manifested IN corn,
and trading was quite active at times, the
feeling developed being much weaker. DC
Iober received the most attention, heavy
pressure being brought to bear on this
month, and the feeling was weak with the
exception of Al short perid after the opening.
The market opened shade under
the closing prices of yesterday. advanced
1sMI4c. became weaker and gradually sold
off AT LA SAT reacted 4c anu closed Win
II .fs mud
erv closed I4WSsc higher than yesterday.
Gables were dull and indicated weaker
feeling abroad. and home markets were also
lower. A prominent operator was reported
a selling freely and this. together with the
sales Of the local crowd, Ill absence OF any
outside support, created weakness. Trading
in oats was quite spirited. May delivery
especially, ruled with considerable ACTIVITY;
There were frequent sales of september and
q fair business in october delivery ensued
Considerable increase in the offering
We're witnessed, Lut they met with quite
free buying 10y local operators, and though
from the start there were indications of weak
ness, good demand held prices very close
10 Yesterday latest figures. There was some
weakness in provisions on yellow fever with
the market aside from this feature, quiet and
dull. much of the time. October pork opened
12I5c lower which proved 10 be the lowest
price Of the day II subsequently reacted TO
SI41O, closing where il did last night. Jan
uary closed l2l2c lower than on yesterday.
=
ary Short ribs closed al decline of 3l20
l5c compared with last night.
THE QUOTATIONS..
The leading quotations ranged as follows;
Wheat-No. September opened at 93Ac,
closing At 9SSSc; October, 92c, closing at
g3Isc: December. 92Isc. closing at 93lsc;
May, 95l2c closing at 96Ae. COrn-No.
September opened at 43c, closing at 42l2c;
October. 4224c. closing at disc; December,
:}7s4c, closing at 31l2c; May, 3Sl5e, closing
at 3SI2c. OaJs-N0. October opened ut
2IIsc. closing ut 24c; November, 24SSc clos
ing at 24Ssc; May. 2S4c. closing at 2s4c
less Pork per bbl-September opened at
$I445, closing at Sl457l2: October, Sl4. 40.
closing al Sl45Tl2; November, $3.50, clos
ing at $3.50; January, $3.50, closing at
3l3 S2l2. Lard, per 100 lbs-October opened
IT $1,000, closing at $1,000; November,
50. 30, closing at 1920; January, Ss.27l2,
closing at SSI5. Short Ribs, per 100 lbs
october opened at $50, closing at Ss62l2;
cash quotations were as follows: Flour
unchanged. Wheat-No. = spring, 97O9Sc;
No 8 spring, Sl@S3c; No. = red, 91c.
COrn-NO. ,, 4l7S042c. Oats-No. =, 24c.
Rye-NO. ,, soc. Barley-No. ?, none. Flax
Seed-No. l. Sl.3lGl.3Il2. Timothy Seed
Prime, Sl.5SGl.6o. POrk-MesS, per Dbl,
.14.57I2N 1850. Lard-Per 100 lbs, $1,000
sort Ribs-Sides QOOsel. SS.62lsGbS.69.
>oulders - Dry sailed (boxed), s. .62l26D
%; short clearsides (boXed), S919- -,
Nhisky-Distil!ers' finished goods. per gal.
Sl.2O. Sugar-Cut loaf: 9l3@s+sc; granu-
lated. 794c: standard''A'', 7l2c. Receipts
Flour, 5000 bbls; wheat, 66,00J bu;
corn. 26,0U0 bu; oats, 10000 bu; rye,
% 900 bu: barley, $4,000 bu- Shipments
Flour, $1,000 bu; wheat 10000 bu;
corn, 543, 900 bu; oats, 14S0OJ bu; rye.
81, 900 bu: barley, $4,000 bu. On the pro-
duce exchange to-day the butter market
was steady and unchanged. Eggs firm and
unchanged