St. Paul daily globe., 1888-11-21
The COMMERCIAL RECORD.
By Way of Emphasizing the Weeks De-
cline, Wheat Takes Four
Cent Drop.
Healthy Trading in Germ, Oats Ssea
Complications, and rovisiens Rule
Very Weak.
Financial Operations in The Monetary
Centers.-.The General Quota
tions.


wheat was off 1c from the top price of the
morning, with tha, future selling at Sl.OS6s.
This was the worst break for any single day
forl weeks, or perhaps months, Coming,
as it does, after q week Of declining
prices, il was al the more remarkable. Many
thought the market ripe for reaction THIS
morning. as was shown by the advance from
the opening price the first few seconds on
the bidding for single hlock of 100000 hu
by one plu1 ger Instead, the market was
ripe for shaking out. II may be said, IN
brief, that orders did it-stop orders
placed long ago and forgotten I'll
about until the slide in 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 at 81 1914. sold to 81 12l2
Off to S111sS. up TO SIP. off TO Sl.lOS4
and again up to S1.114. Up to this point
the dey was much like former days. Then
the noon decline set in. At 2:l0 stop orders
sent the price lee lower, ana when at last
Sl.09 was reached more stop orders sent the
price to the bottom touched at l p. m.,
$1.OSGs, or 4c 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 o reaction to
Sl.O9la for May. Everything else was lost
sight Of in the desire to get from under
wheat. There was feeling of sleadiness i'll
wheat ut the close after a reaction OF about
lc from bottom prices Receipts were 10
ears The trade i'll corn was much like that
of Monday. pretty well out of large hands
and in healthy state. Receipts were 572
rars. with 179 cars No. Q grade. Hutchin-
son was seller early Of December and jan
uary. Prices ranged: For November 1913
039iac closing at 391Sc; December, 3eisc
down to 373sc. closing at 377sc, or Ac
lower; May, 3S$4c. The oats dea! was
complicated, the crowd very anxious
md prices higher May was bid up lively
early. Pert 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
ND TO sell on Receipts were 1G3 cars and
10000 bushels by canal. There was big
run of hogs at the yards and the market was
consequently Off, which had depressing
effect on provisions The January options
of the former opened sc lower and sold down
to S1462la, closing at S14.7J or 12lac under
last night, the May option losing loc. Lard
for deferred deliveries followed pork, closing
7lsGl1Oc lower, while seller The month held
up pretty well. January ribs closed sc lower
AT S7.47.
THE ROUTINE REPORT
CHICAGO, Nov 2O-Whaat was active and
prices decidedly lower. Tae decline was the
direct result of a disposition TO sell: and
there was free liquidation Of long" wheat,
which was constantly thrown on the mar
bot 1x-ffh
reached and margins became exhausted.
The opening was little stronger and ss(1l2c
above Yesterdays closing. and soon advanced
Ac higher. Then the speculative offerings
May down TO $1.oS5s there was IL constant
melting away of prices, with no reaction of
more Than i4@1sSc The market bordered
close on panic at times, There
was no support whatever, until late in the
session, when prices recovered 7sc, and the
closing was 2i4@12S5c 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 ss0!2c range. Oren-
ing sales were at yesterdays closing prices.
after which he market sold OF Ssc, reacted
lac, became quiet and closed l8WAc lower
thap yesterday. Trading in May oats was on
an increased scale at u higher range OF
prices. There was marked increase IN the
number of outside buying orders, but large
percentage of them were to cover shorts.
Local SPECTATORS also took hold freely.
Offerings were not large: especially
during the early par, of the ses-
but reacted 14@a4c and the. market
closed firm. The December delivery re-
ceved increased attention. Quite a good
business was reported in mess pork, but the
feeling was easier. Offerings were fair and
the demand was moderately active at the de-
clining scale of prices, mainly from the short
interest. Prices ruled 12laGDl5c lower on
the whole range and the market closed quiet.
Transfers of from ,1aDu0rV Nav
were made at Csc difference. A fair trade
was reported III lard, but the feeling was
somewhat unsettled. Early in the day the
market was strong at the extreme figures of
yesterday, but the offerings were increased
later and reduction of l0@121ac was sub
mitted to. Transfers of contracts from JAN
nary 10 May were made at l5c difference.
Trading. in short ribs was lighter
and the market weak. Prices de-
elined 2l2@5e and closed quiet.
THE GENERAL QUOTATIONS.
Wheat-No . November closed at 81. O5M;
December opened at 0994, closing at
S1.O59s January, ST 1.08ls, closing at Sl.05l2;
Nav ST. I214, closing at 81 O9ss Corn-No.
2 November opened at 391ac, closing at
99lsc; DECEMBER, 3sc, slssg slosing at 37sc; sas;
closing at 3s&c. Oats-No. 2, November
opened at25s4c, closing at 26lac: Decem-
Der 25Tsc, closing at o6Ac; May 297se, clos
ing at 3ussc. Mess Pork, Per Bbl-Novem-
Sl4.65; January opened at Sl4.7712; clos
ing at sl4;7o;, May, s15;o2l2, closing at
$14.92Ia. Lard, Per 100 Lbs-November
opened at $3.50, closing at ss.42la: Decem-
ber, S9.37l2, closing at $3.50: January, $S.3 81,
closing at SS.25; May. $3.50, closing at
$40. Short Ribs Per 100 Lbs-Janu-
aryopened at S7.52l5, closing at
S747l2; May, $40, closing at S7.67i2
Cash quotations were as follows: Flour life
less but quotably unchanged. Wheat-No.
spring S1.G4s4@1 .o5la: No. 3 spring, $50
95c; No. red, 81. O4s4@1. .05A. Gorn-No. 2,
3914c. Oats-No. 2. 26c. Rye-No. 2, 54c.
Barley-No. 2, nominal. Flaxseed-No. /,
s1.52@I.52l2. Prime timothy seed sl.4s@
100 lbs. -Ss.42l2@s.45. Short ribs sides
Qoosel, S7.55@7.70; dry salted shoulders
boxed, $7.37l2@750; short clear sides
(boxedl, SS.12l2@S.25. Whisky-Distillers'
finished goods, per gal, $i.2O. Sugars-Cut
loaf, S1z@sl2c; granulated, 7l2c; standard
A, 714c. Receipts-Flour. 5000 bbls wheat,
$4,000 bu; corn. 81 900 bu: oats 275, 900
bu; rye, 1900 bu; barley, 3d. 600 bu. Ship
ments-Flour, 2s;ot0 bbls; wheat, $4,000
bu; corn, 10000 bu; oats. 10000 bu;
rye, 10000 bu; barley. $4,000 bu. On the
produce exchange to-day the butter market
was strong and higher: Elgin creamery, $40
35c; choice Western. 25l2Gl27c: choice dairy