St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-04
LONGS DUMP WHEAT.
As q Result Prices Of All Fut-
ures Decline Nearly a
Point.
Cables Not Any Too Firm and
Big Operators Dump
Holdings.
Corn and Oats Weaker, Hog
Products Closing a Shade
Lower.
The New York Stock Market
Split on Sugar Trust
Shares.

CHICAGO, Nov. 3.-There was enough bear
news and enough bear pressure from the
local trade to break the price of wheat &c
this morning under ordinary circumstances.
The fact that there wss hesitation about
shorting the market with the news at hand
and most of the big operators trying to de-
press the market was an argument of itself
showing the strong position of the wheat
market. To begin with, the receipts were
222 cars, or about double the amount eX
pected. Receipts at Minneapolis were large
at 936 cars for forty-three hours Minneap-
oils increased its stocks 5000 bu for the
week. Country elevators In Minnesota and
the Dokotas increased stocks 660,0 bu for
the week. On top of this came an increase
of $50, 900 bu in the visible supply. This
was sou, 900 Blu more than estimated, and
$4,000 bu more than the increase a year
ago. The only decrease in wheat stocks of
importance was 224 900 bu at Buffalo and
$4,000 Blu at Philadelphia. Chicago stocks
increased $4,000 bu. The stocks of -four at
st. Louis were given at 81, 900 bbls. or 10000
bbls more than month ago. This was the
substance of the bear news. On the other
hand. cables held reasonably firm. New
York cleared 24.nO0 bu wheat and early in
the day reported two loads taken for the
United Kingdom. There was some inquiry
here for cash wheat for foreign account.
The market opened at l2c decline on tn
la .ge receipts, with December at S1.O234 and
May around Sl.US. On the first rush of sell
ing orders the price worked down to Sl.02A
@l.UT5S, or about lc under the close
Saturday. From TINS there was rally of
Nc and the market became quiet. At noon
The visible supply figures were at hand, and
with this price went to the low figure sof the
vii tn
May, $1.O7A. a decline of lac from Satur-
day for December. and lac for Nay. There
was rally before o'clock to 81 OH and
Sl.nTss for May. st. Loais sold here early.
The local selling was led first by Logan d
Co., Parker, Cutler & Co., BrosSeau and the
scalpers generally. Later the selling was led
by Hutchinson, Cudaby, Partridge and their
followers. The best buying of the day was
by M. G. Mitchell & George Smith. Logan
turned buyer on the early break. There was
some improvement in wheat the last few
minutes. December recovered to Sl.U2A,
closing lie lower Tor the day, while May re-
covered to SI.OS closing but I5c under Sat
urday. and close to the best prices of the
day. Charters for $4,000 we're reported at
the close. On the curb puts on December
wheat sold at Sl.Ol%, and calls sold at
SL02s40l.O27s. Corn was fairly active and
weak on realizing sales by holders. The
market closed M0ssc lower Oats were weak
On heavy receipts, and closed la@ 5sc lower
Provisions were only moderately active
prices declining q little. owing to the con-
timed liberal hog receipts and the large
stocks OF product held here. At the close
November pork showed q decline since Sat-
urday of i5c, January from 7lsc to 1Oc. and
May of 21205c. Lard closed sc lower, and
ribs from LAC to sc.
The leading futures ranged as follows: