St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-09-07
DOMINATED BY BEARS.
Unloading by Longs and Heavy Sales
by Shorts Cause
Slump.
A Biq Decline in All Grades Of Cash
Wheat and Fut-
ures.
Financial Operations Of the Money
Kings---The General
Quotations.

CHICAGO, Sept 6-The wheat pit was DOM
mated to-day by bearish influence and the
feeling became weaker as the session pro-
crossed. Prices receded to the lowest level
touched this week, there being decline as
compared with Yesterdays close OF full
cent in the more deferred deliveries. 1t
was apparent from the start that il the mar
ket were to get out of the rut that it had been
in for couple of days IL would have to
break; and, with the weather fine and news
from the East and abroad depressing in the
extreme, nobody was surprised at the initial
decline of 1s@Ssc. Instead of q cold wave
coming, the weather in the West was warm
er and generally clear, which allayed all
fear of frost for the present, and
weakened prices on the whole grain list.
For a time speculative trade dragged, but
toward noon the unloading by discouraged
and tired longs was followed by short
selling on pretty large scale, and the mar
ket sagged rapidly. The principal local feat
ure was the selling out of long wheat late i'll
the session. The weakest feature in the list
to-day was May. 1t broke 11sc, and closed at
the bottom. December showed net loss OF
1c, and September and October declined 5se.
There was a corresponding decline in all
grades of cash wheat. An active business
was done in corn during the early part of the
day. trading being unusually heavy around
the opening, after which the pit became quiet
and active by turns. Fluctuations were fire.
quent, within half Ssc range. The feeling
develored was weaker and transactions were
at lower prices. The local crowd was long,
and as the frost predicted for last night did
not materialiZe, offerings on the opening
were heavy. Initial trades were ls@Ac be-
low the closing Of yesterday, and under lib
eral offerings, a decline of 1c more
was recorded. The market then rallied
little on buying by shorts, ruled weak and
closed sS0s4c lower than yesterday. Oats
were weaker and 1s04c lower The weather
was fine and cool and the corn market weaker
and lower. This induced fair selling and
caused a depression IN prices, as the demand
on the whole was light. fairly active trade
was reported in mess pork, but the feeling
was unsettled, Prices ruled irregular
rather easy at the opening, but soon ad-
yanced 12l2@15c. Later they gradually re-
ceded again to inside figures, but near the
close rallied again and closed comparatively
steady. Trading in lard was only moderate.
The market was easy early, and sales were
made at 2l2@5e decline. Later the market
was stronger, with a moderate inquiry from
shorts, and the decline was recovered. To-
ward the close the feeling was easier, and
the market closed quiet at medium figures.
A fairly active business was reported in
short ribs. The feeling, however, was I'M
settled, and prices ruled irregular. The mar
ket opened steady at yesterdays prices, but
soon weakened, and reduction of 5@7l2c
was submitted to. Later the market exhib-
tied a little more strength, and the greater
portion of the decline was recovered. Near
the close it ruled easier and closed quiet.
THE QUOTATIONS.
The leading futures ranged as follows:
WheGt-No. 9 October opened at 77Hc.
closing at 765sc; December, 7S7sc. closing at
7Sc; year. 765sc, closing at 76Ac; May,
S2SBc, closing at SIC. Corn-No october
opened at 335sc, closing at 331sc; November,
closing at 32s4c. Oats-No. 2 October
opened at 1880. closing at 19asc; December.
2Olsc, closing at 1880; May, 23c, closing
at 22S4c. Mess Pork (per bnll-October
AIRY. 50, 12l2, closing at 50, 07l2. Lard (per
sS.s2ls; Nove@ber. $5:75, closing at
$40; January, 1915, closing at $5.72l2
S Short Ribs eF 100 cTosng 9s) oe g ser
January, $3.50, closing at S4.5712:
Cash quotations were as follows: Flour quiet
and unchanged. Wheat-No spring, 76A
@76sse; No. 8 spring; 69@69I2c; No; 2 red
nominal. Flaxseed-No. /. Sl2754. Prime
timothy seed, Sl.36. Mess Pork-Per Dbl
S1O.65@1O.70. Lard--Per 100 lbs, 6:02l2
@6O5. Short ribs sides Qoose), S5@5.05.
Dry sailed shoulders (boxed). S4:50@4 65.
Short clear sides (boxedl, S5.37I2@5 80.
Whisky-Distillers' finished goods, per gal.
SI.O2. Sugar unchanged. Receipts-Flour,
Is, 600 bbls; wheat, 1884, 900 bu; corn, 472,-
900 bu; oats, 243,O bu; rye, $4,000 bu;
barley 20,OJ0 bu Shipments-Flour, 5000
bbls; wheat, I3l 900 bu; corn, 245, 900 bu;
bu On the produce exchange to-day the
butter Earket was unchanged. Eggs, 14l2