Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-19
MARKETS BY WIRE.
The downward Movement in Wheat Con-
tinues-A Big slump on Report of
the Failure of Henry Clews-
Corn and Oats Tumble.


CHICAGO-The first matter which engaged
the attention Of the wheat spectators. and was
the chief influencing factor when trading COM
menced to-day, was the heavy increase in the
amount on ocean passage, which Beerbohm's
dispatch placed at 8 osO. 600 bushels. May wheat
started at 81 COZ, compared with 81 0l14 at the
close of Mondays market; December at the
same time was quoted at 931Lc, compared with
ssC when trading ceased yesterday. One piece
of news after another and many rumors came
10 hand during the first hour, and prices fol-
lowed the direction OF bear Influences going.
with regard to the bulls. from bad to worse mp
TO about y O'Clock.
There were slight reactions during the break
uus every advance OF 1sc or &c was apparently
Icing waited for by those VINO had still more
for sale and at the time named the price of De-
Cember was down to 81 l11c, and of May TO 99c
The reported failure ul another Wall street
house which had become loaded with COM
uercial paper which could not be rediscounted
was looked upon as more serious than a failure
from depreciation IN railway securities, show
Ing as it did. the extreme Stringency in finan-
cial circles as having in nowise abated. Tight
money was a direct feature in the whole Situa-
ton a. seen in the difference at Duluth he
tween cash wheat and Nav the former being
quoted AT 1ac and The latter 99S4 &c, represent
fnr carrying charge of lOlzc per buShel.
The heaviest break of today commenced
shortly after II o'clock. May wheat declining TO
9g7 aud December u 9J@.c being decline
under yesterdays closing OF 81 &c and 81 &C re-
speC:ivcty. \ rumUr that Henry CleHs the
Well-kuOwn Wall street banker and operator
had talled was the occasion of the last slump.
Trading was very active and at times exciting
and was evidently regarded by scalpers as
sale from first to last and it wound up easy.
The corn market opened off about 4 c from
Yesterdays closing figures, May starring az
52Jsc compa ed with 5S1sc on the preceding
afternoon. There were sales for few moments
AT 80 n Sc and then commenced an eager un.
loading OF long stuff and an animated pounding
1v short sellers. which was kept up until the
price Of the May delivery had gotten down to
81 &C. There was lively demand at the de.
cline from the short interest which caused a
reaction to 52l4C.
Oats were jairly active but unsettled, being
frmer and $sd15c higher for MAY early bur
weakened ~ - mpathy with wheat and corn.
and under increased selling December declined
1850. hut reacted 5sc and closed steady at 4 net
loss Of l3sc.
Pork Was brisk. Opening sales were at 7JSd
l0c decline, and the feeling was weak during
the greater portion of the day, prices receding
with frequent slight Illustrations j315655c. Al
the close the changes in prices were sight
IGrd-Iradlug WAS active during the greater
portion OF the day and prices fluctuated con-
siGeTably. On the whole range a reduc, ion of
l7laG2Oc was submitted TO. aud the market
closed easy.
Short Rib Sides-An active business was
transacted anu the feeling was easy. Prices
were irregular and on the whole receded I716a
20c. and closed rather tame.
The leading futures ranged as follows, as cor
recJed by John VI Oakley q Co., 45 Sixth street
members Chicago Board of Trade: