St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-11-03
THE COMMERCIAL RECORD.
Enormous Deals By Big Operators
Cause a Heavy Break in the
Price Of Wheat.
Cats Remain Dull, Corn Holds Firm,
Hog Products Advancing a
Triile.
Financial Operations in the Monetary
Centers---The General Quota
lions.
Specia! to the Globe.

Specia! to the Globe.
CHICAGO. Nov. .. The range for May
wheat IN this market to-day-Was about &c,
but inside of these figures the fluctuations
were so rapid and SO wide that it was wild
and unsettled market for The entire session.
Those who thought there would be strong
reaction were sure of it when the price
reached 81. 179s, and those who played for
still lower figures were sure of success when
the price went 10 81. 159s. The market broke
yesterday-not or account of manipulation,
but for want of it. The opening to-day for
May was at Sl.16; the first decline was to
Sl.15s4, when it was thought that Hutch
inson was openly selling too many
small dribs not TO be buying heavily
under cover. This feeling of, uncertainty
caused many who shorted the market on the
way down from Sl.20 TO buy freely. This
was headed by Linn. Cudahy and others.
The price went up TO Sl.175s in short order.
At this figure there was no scramble Tor 1t,
and selling put the price back to 81 10 then
up to 81. 1868 and at p. m. off to the lowest
point touched on the break 81 .155s. FIVE
minutes later the price was at SLICES The
trading was enormous. Lots of 100000 bu
frequently changed hands and set the action
up or down. Conditions were lost sight OF,
and the big operators were watched. There
were rumors that Wall street had buying
orders here. The indications were that the
deal was local. There was no such
activity and much less change in
prices at outside markets. The
action for December was nearly as great as
in May. though the trading was lighter The
range for that month was between S1.14f2
and SLICES. Receipts here were e5 ears,
with but car of No. = spring. Primary re-
ceiptS, 52S, 900 bu, against 100, 900 bu last
year. Clearances were almost nothing, as
usual of late. During the last ten minutes
of the session May wheat sold from SILICA
up to Sl17ss November sold at Sl.1301
l14I2. Oats remained dull, with November
at 24Sse; December, 24Bc; May, 29c Re
ceipts, 203 cars There was nothing worthy
of mention in corn; prices held fairly steady.
Receipts were 43I cars and 81
500 bu by canal, The provision state
ment was about what was expected
ted by the trade, though little less lard was
reported. Stocks are SO light in this city
that they are without much influence on the
market. Hutchinson was again mentioned
in the dealings being seller of pork and
lard, while Gedde's buying of the former
impaired more or less strength to the market.
Fluctuations were rather narrow. the range
of January pork being S1465@l4.77l2, and
the closing figure SLID, or 2l2e higher
than last night. May pork advanced 7i2c.
January LARD advanced sc. and ribs 2I2c.
THE ROUTINE REPORT.
CHICAGO, Nov. Am unsettled, nervous
feeling was developed in wheat. Prices
tluctuated frequently. and operators were at
sea as to the future OF the market, some be-
ing confident in the belief that prices will
rule lower and Others that a sharp recovery
is likely to follow. The influences for the
present are all bearish. and this has had the
effect of making IL break in prices more
easily accomplished. From the closing fig
ures of yesterday prices declined Use, under
liberal speculative offerings, and the closing
out of some lines on stop orders. Then fol
lowed rally OF llc, which i'll turn
was followed by decline of 2lsc,
then ruled irregular within Zee range;
finally advancing &c, and closed
about 1l8e higher for December, and lac
higher for May, Trading was more general
and considerably larger, though local traders
figured perhaps the most prominently At
about 81 I5ls for May there appeared to be
enough buying orders to check further de:
cline, and each time that figure was reached
the market reacted. creating the impression
that the market was '.pegged' there. A
rather unsettled feeling prevailed in corn
most of the session. trading being of very
fair volume, Notwithstanding the rather mar
row fluctuations. Opening sales were about
the same to 14c under the closing quotations
of Yesterday, was easy for time, then devet-
oped some strength. ruled steady and closed
same TO l2c lower than yesterday. The feel
ing in oats was heavy and cash or sample lots
were weak and lower while OH the speculative
market the fluctuations continued confined
to so narrow Il range that as compared with
yesterdays closing there was no material
change to note Trading was moderate in
mess pork ard almost exclusively for Janu-
any and May deliveries Prices ruled rather
easy early, and receded 7l2Wl0c but rallied
again l0@12l2c, and closed comparatively
steady. Short rib sides attracted very little
attention and s,eidy feeling prevailed.
Prices exhibited very little change. Trading
was almost exclusively for January delivery.
A quiet and comparatively steady feeling
prevailed in lard. with very few changes to
note III prices. Offerings were small and de-
mand light. Prices little more favorable to
sellers.
THE GENERAL QUOTATIONS..
Wheat-No. . November opened at 81. ID
closing at Liz; December S1.14, clos
ing at S116Is January, S1.12A, closing at
Sl.I35s; May, S1.16, closing at S1.171s
Corn-No. 9 November, 3Sl2c, closing at
:3SSsc; December, 3S4c, closing at 3S4c;
January, 37l4c. closing at 81 SEC: May 3S$sc.
closing at 3Ss4c Oats-No. November
closed at 24ssc; December, 2ls4c, closing at
'247Sc; January closed at 24ssc; May. 29c,
closing at 29c Mess Pork. per bbl-Novem-
Der closed at S14.55 December closed at
S1455; January, $l4.12l2, closing at SLID {;
100 l6s-November opened at IS. Is, closing
at S.. l7l2: December closed at So. 10; Jan
uary, So. 12l2, closing at SS.l2l2. Short Ribs
per 100 lbs = November closed at $40;
January opened at S7.45, closing at s. .45.
Cash quotations were as follows: Flour,
quiet and unchanged Wheat-No. 2spring
$1.13l2@l. 145s; No: , spring. 93@95c; No
red S1.l3l2M1. 145s. Corn-No. =, 3SI8c
Oats-No. 2, 24ssc. Rye-No. 2, 55c. Bar
1ey-No. 2. 75c. Flax seed-No: l, 81. 40.
Timothy Seed-Prme. Sl.43. Mess pork,
per boil. Sl4 90. LAID. per 100 lbs. SSl5
@s.17I2;, short ribs sides (loose);; Sa.45
S.25; short clear sides boxed, SIS. 12l20
s.25. Whis6y-Dislillers' finished goods,
granulated, 7l2c; standard A. 74c. Receipts
Flour 1000 bbls: wheat; 81. 600 bu; corn oaa
bu: barley, $4,000 bu. Shipments-F
10000 bbls; wheat, 1000 bu; corn, SIS
900 bu: oats 23S.Ol0 bu: rye, 1000 bu;
barley, 81 900. On the produce exchange
to-day the butter market was dull and
unchanged. Eggs steady and unchanged.
2 M NEWPORT e SON.