St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-02-13
THE LONGS LIQUIDATE.
Free Selling of Wheat, Prices Break
ing Suddenly at the
Close.
Shorts Take Advantage Of the Weak
ness and Cover Their
Deals.
Financial Operations Of the Money
Kings---The General Quota
tons.

CHICAGO, Feb. 12.-There was such lively
interest in oats to-day that many operators
were drawn away from wheat early. The
weakness of the market before noon, with q
further decline of l2c for all futures and a
sudden recovery at one time on reported tax
Ing for export. made the market more than
usually active. There was an attempt on the
curb to bolster the price, and May was quoted
at 7o14c on the outside transactions 1t did
not touch that figure on the floor. The OPEN
ing was at 1880 for May. During the first
hourthe price went to 77ss@7zs4c, with
rally to 777sc. A second decline before noon
was to 774sc straight, and a sudden rally put
the price up to 78c for moment, with a
third drop to 77s4c before 1 o'clock. June
sold at 777sc and July as low
as 76ls@76Ac. Liverpool cables quoted
prices tending down for American futures.
New York cleared no wheat, and Baltimore
and Philadelphia only $4,000 bushels There
was little bull news floating around that
India had made no shipments to the
United Kingdom for week, and
that the English visible supply had
decreased 100000 bushels. but the
trade kept no track of these remote items.
There was no real good support in any quar-.
ter until New York reported first 8 boatloads
later ID, and still later II loads taken for ex-
port to the United Kingdom to-day. 1t was
on this that the price of May few up to 7Sc.
The wweat market closed with the pit lively
and with prices about Sc under last night
The best authority gave % boatloads taken
for export at New York. Receipts for two
days were 5 cars winter wheat 81
spring, 297 corn and 123 cars oats.
Withdrawals from store were Is. 1U4 bu win
ter wheat; 90, 700 blu spring. and 1854 bu
ha IN, &c L..
volume. The selling was general. Not only
were country holders selling. but commission
firms and spectators here and elsewhere as
well. large number of selling orders came
IN from New York, while the trade here
throughout was to close out the business of
Woodruff & Co., the New York concern that
failed last night. May corn opened at 3Ussc
but sold off to 30lsc Around 3O14c there
was extensive buying by Durham & Co. and
others. Cleariugs from three Atlantic ports
yesterday were 5Sl,O bu; from New Or
leans nothing. The local crowd in oats
turned themselves loose to break the market
and make Partridge or some one else
let go of line Of oats this
morning. The sale of half million
bushels by Bryant at the close yesterday and
some selling orders from the country encour-
age the selling. The trade got very excited
and got recruits from wheat and corn until
the usually quiet oats pit acted like a mob.
The break was from 22c to 21ssc for May,
and from 21ssc to 207sc for July. The sell
ing lost its force later, and there was e rally
Of Ac to 20ssc for May and 21Ac for June
and July at the close. The provision mar
kets went down with the grain markets to-
day. The most activity was in mess pork.
Nat Jones and Baldwin hammered the mar
ket by offerings for June and July. The
only considerable buyer of May was Hutch
inson. February pork sold as low as S9.65
and May at SO 80, closing trifle better at
$9.92ls@9.95, or about 12Iac under last
night. Short ribs and lard sold 2l2c to DC
lower.