St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-17
WHIPSkWED THE MARKET.
Old Hutch Sells December Wheat at
So 81, and Buys Back
at82.
In Operation That Melted Him Thou
sands and Caused Fractional
Slump.
Financial Operations Of the Money
Kinqs---The General Quo
tati01S.

CHICAGO, Oct 16.-The wheat market was
not weak at any time to-day, although the
price at one time went fraction below the
close last night. There was no very decided
news, and there was pretty general selling
of long wheat during the forenoon. but the
market took ii without any special break and
then grew strong and rallied l2c before 1
o'clock. Liverpool cables were bearish, CIV
ing prices of futures lower for American
wheat The receipts here were over the estl-
mate at 245 cars, including AZ cars OF No.
grade. On the other hand, receipts at Duluth
were slim. owing 10 a railroad wreck, while
Minneapolis received less than usual OF late
531 cars. ST. Louis sent some bull news III
the shape of complaints regarding winter
wheat because of dry weather. Re
gardless of cables, the foreign
houses here had buying orders 10
fiji. and wheat was taken early by Dunn,
Warren, Geddes and Others. Hutchinson
was seller on outside orders and buyer
on his own account. His attitude was
buyer around SIC for December ard seller
nj S214c. These figures marked the early
range for December. Toward noon Durham
& Co, Jones Kennett, SchwaTtZ-Dupee and
Baldwin d Farnum were sellers of both De
cember and May. The price of December
went TO SI7sc the bottom of the day. In
less than half an hour December was at
S2l2e, decided rally. The action mp 10
O'Clock was S2c, to 82i4 10 S9ssc, to S2isc to
S2Ae, to S2l2e. May sold al S4s to S3ssc.
Aside from the foreigners and Hutchinson,
Brosseau was the leading buyer. He took
2OO. QUO bu fIom Jones Kennett at S2c. 1t
was said that Jesse Hoyt, who has
a corner on his hands at New York,
was a seller here. The fact that
New York cleared but LOO bu of wheat
was very discouraglng until Baltimore sent
100000 bu cleared. The total shipments
from India and the Baltic and other ports
for the week to the United Kingdom and the
continent we're given at S.432. 600 bu. Tine
buoyant feeling in wheat continued 10 the
close. December touched S2l26S2bsc. and
closed at 92I2e bid. May closed at S5Sse.
October at the close, SG34c Cars for to-mor-
row, 1873. Charters, none. The bulls talked
93c 70 S3I2c for December Tomorrow with
no UnfaYOrable news. ReCeipta were 81 cars
winter wheat, lag cars spring, 279 cars corn
and 1874 cars oats. Withdrawals from store
were 6.99z bu winter wheat /, 100 bu spring.
226, 343 bu corn. and l30, 509 bu oats. Corn
sold within a &c range and closed IBc
lower. Oats were dull and shade lower
The provision market was extremely dull
early, but about noon there Was an improved
feeling. The refusal of the injunction 10
Sawyer Wallace by the supreme court caused
traders to resume operations in the pit.
Hutchinson at once bid up october pork,
first to S1O.95, then to S11. There was I'M
essiness among the shorts. The action in
November and January pork was a little I'M
usual. November sold at SO. $500 40 and
of to S9.37l2; January sold at So 35@9. 47l2
TO S9.40 to S9.4712, or Toe over November,
which has all along been at premium. The
price of January made a further advance to
$952t2 just before the close. Lard and ribs
showed little fimness. and prices advanced
about 5@7l2c.
The leading futures ranged as follows: