St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-10-09
The COMMERCIAL RECORD
Hssvy 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.

Eheat passed 81 has the crowd been so nerV-
pus and unsettled as at the opening to-day.
Ehe top points reached on Saturday con-
Fnced every one except the bull, who Is
always bull whether prices be high or low,
that the advance was overdone. Or1ers
from eleventh-hOur buyers started the hrst
prices at very high point this morning
The first figure on December was sl'z-
There were 100 sellers to every buyer anu
fhe price was at Sl.2l III less tnan thlrl!
seconds. AT the end Of the first hour the
price was Lisa and the market appeared 10
b held by some influence. AT IL a. m
there was another softening. The price
Cropped to SIISl4 and fifty offered
itat Sis even. and in three minutes more
8 rested at 81. II, or &c under the opening
si-rre The wheat market was not without
81 terrors to-day for operators on both sides OF
Che market 1t started at the highest point OIL
the year, took a plunge of sc, reacted 2l2c
started downward the second time ABOUT
aeon but quickly regaiued most OF the ae-
cline and at thirty minutes before the close
the price for December was Sc under the
opening figure. The action was Sl.22 down
e. SII7. up to SLIDES, down again 70
SI.I9a. and returned to Sl.19 May sold at
s. 22la, down to Sis, up to LUIS
Gown 10 Sl.19l4 and up to S1.l9S4. me
Sales in November we're between Sl.lOt2
and SLIDE The increase in the Visible
supply was p, 600 bu. Export clearances
were 10000 bu of wheat and flour, with
Int 10000 bu Of wheat. Receipts here were
80 cars, with 200 for Tuesday. Total re
Gelp,s at leading points were 947,OO0 ou'
with 1862 600 at Minneapolis. There Is much
speculation here over the attitude OF the
large operators. If they are long ana there
should be a disagreement among them' the
price may be precipitated in way that VIII
week many who have taken on goou
loads of wheat The manner in which
lie break was checked today causes
taauy TO believe that the big longs
VIII not permit any dangerous ralds
The corn market suffered from hutchinson
to-day. His transactions caused the huetua
;jous to. day. and after about ll2c range, the
closing price was about the same as oatur
day. Receipts we're 675 cars. and the esti-
1aate for Tuesday 6l5 cars. The out inspee-
Iion was 100000 bushels with charters re
ported to-day for 267, 900 bushels. The yisi
be supply decreased 162, 900 bushels. DC
iober sold 1890 up to 45l4c, closing at 40 sc
November 45lsc, down 10 44l5c, up 10 45l2c
back TO 45e, closing at 45Ac. December
c.s>ed at 4llsc, May at 34ssc. The bulge was
quickly made, and the manipulators were
credited with selling much more than they
i night. Oats closed steady for May and a
fraction lower for early futures. Receipts,
$50 cars with $40 cars for Tuesday. Re
Ccjpls Of hogs were comparatively large
4 day. and PROVISIONS were lower in cOrse-
quence Pork closed at SI4.70 for January
and SD 80 for October. about where it did
on saturday, but during the morning II sold
down to SIS % for OctO%e-snd Sl46O for
JANUARY. October lard sold al S9900lO.O5.
C.Jsing AT $40 a decline OF I2l2c. Noyem
Ter sold at S9G9.I7l2, closing at the outside.
q loss OF sc. Ribs closed 2jc lower for Oc-
IJter. at 50. 10: January sold at S7.3Tl21-
G.+-ia. closing at S7.42la, or 2l2c lower.
THE ROUTINE REPORT.
CHICAGO. Oct. S.-A fair business was trans
acted in wheat to-day. and the same nervous
ala unsettled feeling which has prevailed
lately existed. Fluctuations were frequent
and violent and considerably lower prices
established than ruled at the close Of Satur-
Gay. he strong closing saturday brought in
some selling and also a number OF buying
orders but there is no doubt that there was
Iaurc indispOsition on the Fart Of local
GENERATORS TO realize, and The offerings were
unite large while the buying was reported to
D. principally by outsiders The opening
vas unsettled with sales made from a trine
Under 10 Sac over the closing figures of Sdtur-
day. then declined regularly 5G5i2c
then rallied 2I4c fuctuated and closed
ahauI 2Tsc lower for December and
.s4r lower for MAY than The closing figures
a saturday. A fair degree of activity was
J.lnifeSted in corn, the Keeling being rather
unsettled and fluctuations were within lSsc
large The opening was weak. first sales
loiIG Ia Ssc under the closing prices Of
Saturday. after which the market sold OFF
I-.. advanced l2c, reacted 7sC, became GfmeT
,!.d sold up lSsc ruled irregular and closed
viii October and November al about the
same rs Saturday. The influences governing
Itr situation were to a great extent local the
a. eTatiOus OF a prominent trader having
considerable 10 do with the course of the
I,aIaet Oats were weak under The infu-
t..ce> of a light demand, easier markets
I1r wheat and corn and expected
leaVy receipts Near futures show LG
g. decline May was the active option
nu6 closed lsC easier. In mess pork
u.tGcrate activity was noted early Opening
k5icS were al materially lower prices on the
l.tar futures. due 10 fair offerings and alb
sl-.,c Of demand. The deferred futures. al
r-li sympathiZing 10 a moderate extent
We comparatively steady. A rally followed
81. tict.ii c and the market closed quiet and
8. .r a. 20m25c advance on October and
N -mAar AMI 2i2c on January. WeaS
j. la developed in October lard and prices
t.-l. tCd lJC from Saturday closing, owing
L il demand. November, year and Jauu
l.. received the most attention. The first
u.s., named declined 25C. while January only
~ se l2iec Late in the day a rally occurred
liza. CARED prices TO about opening figures
= b. market for short ribs was moderately
az Sc. and prices ranged lower Offerings
GO ',tf].cr we're free. and prices declined
2l2c January broke Zoe.
lHE GENERAL Quotations
81 -eat-No. > october opened al Sl.lSll
closing al Sl.l6l2: November. 81. 1919. clos
In. 1t SI.I7l2; December, Sl.22, closing al
$. SO May 81 22l2. closing at 81 20
CCrn-No october opened az 44I2C closing
q 45c: November 45lsC, closing at 4J4C
December. 4lS4c, closing At 4lIsc; May
.is5sc. closing al $3.50. Oats-NO > October
orcied NJ 24lsc. closing AT bic; NOvem
lrr 345sc. closing at 24SsC: December 25I2c
e., >iag az 25Ssc; May, 29lsc closing at 29Isc
ai.>S Pork. per bbl-October opened a
SD - closing at $500: November, S14 20
Cf'Sine ~ sl4,12L2 January, Sl461 y, clos
]Hs AT Sl4.4O. Lard, per 100 ibs-Uctobel
Oi ned n $1,000, closing al $40; November
s -. closing at S9.17ia; January. 3. 37ls
closing at $3.50; year. $3.50 closing al
$ lie. short Ribs. per 100 lbs
80, January. S7.42l2. closing at SITE
cash quotations were as follows: Flour
slredy and unchanged; patents, S7.25d
30. bakers. S4.604 1. %. choice. S5.l0Gi
- 8: winter. 50 -756G Wheat-No. spring
M > red Sl.ljGl lOI2 COrn-No. >
4is.c Oats-No. -, 237sc. Rye-No. .
60C Barley-N0. nominal. Flax Seed
No l 81 10 Timothy Seed-PIime. 81 80
lbs $40 short Ribs-Sides Ooose), 81 I'd
30 Shoulders-Dry sailed (boxedj, 81. S7l:
% Sides-Short clear (boxed). S9.756t1O
y ui-ky-Disuliers' finished goods, per gal
8 -. SUEarS-Cut loaf. SA@S5sc: granU
lated. use; standard A, 7l2c. Receipts
ti,sr. u 900 bbls wheat, ~, 900 bu; corn
80. 900 bu: oais. 244o00 bu rye, 240v(
ID. barley 100000 bu. ShipmentS--FlOu
- co.. bJlS; wheat. I20. 600 bu; corn. col.
600 bu, oats. $4,000 bu; rye. 5000 bu
harley. 81, 600 bG.. On the produce x
C.ause today the butter market was quIe
ana unchanged; eggs steady; choice north
EN-. ISi2Sl9c.
E. M. NEWPORT & SON,
Investment 5oEkers.
l52, 15S, 154 Drake Block. Loan Money
or Improved Real Estate Security,