St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-09-01
WHEAT GOES DOWN AGAIN
Heavy Volume of Business and
Decided Slump at the
Wind-Up.
Corn Also Declines, Oats Weaker and
Hog Products Close Cutie
Steady.
Financial Operations of the money
Kings---Tne General Quota
tons.

CHICAGO, Aug. 30.-The fight was
still on in wheat to-day. The bears who
sold heavily Friday gave it out that
they covered largely through brokers
on the break. The way they began sell
ing this morning, and the way they
fought all attempts to rally the market,
indicated that they had large interests
at stake. The early news helped them
out little, and by general pounding
prices were forced down before II
o'clock to the extreme low point of yes
terday. There was some trading in
other months, but the pressure was in
December. This month started at
s1.0514, and was sold down to S1.044.
Here the buyers caught the market as
on Friday, but the recovery up to
noon was very slow. Mitchell, Logan
d Co., Champlin and others led the
buying. frequently bidding a fraction
over the offering price for round lots.
Hutchinson, o. H. Smith and Bald
win and Farnum were the leading sell
ers early, and they fought the recovery
persistently, while the trade was pretty
well divided on the market at the lower
figures. Al midday the price of Decem-
Der was S1.04sl, or 1c under the close
yesterday. The weather was most
favorable everywhere for growing crops
and for harvesting. Messages from
Manitoba were particularly encourag
ing. The bear statisticians figured out
liberal increase in the visible supply
for Monday, and the bulls said nothing.
Liverpool was easier and closed with
declines of I'D all around. There was
nothing very influential in all this. but
1t helped the courage of short sellers.
The deadlock in December at S1.O4M
was broken about noon. The offerings
at that figure were all taken up, and
then up went the market. Adams &
Samuel filled buying orders for perhaps
half million bushels before the adj
vance started. AS soon as the price
began going close up to s1.05 the smaller
shorts began bidding over each other
for protection. At about S1.05 Hutch
inson gave up the fight on the bear
side, and bought wheat heavily on the
way up. st. Louis sent urgent buying
orders. The bull houses added to the
furry among the local shorts by press
ing the buying. The market was a
wild one until the price settled back to
S1.05$4. This strength in wheat did not
hold. The selling was renewed the
last half hour, and prices yielded freely.
Last prices were: September. S1.O1 q;
December, S1.O45s; May. S1.OSsl. The
prices of privileges for Monday
were quoted on the curb at S1.O319 for
futures and Sl.o63S for calls on Deem
Der wheat. The corlf market was very
weak, and closed 1clower. The weather
everywhere was the most excellent, and
not only was there an absence of frost
in all quarters, but the signal service in
dications were for warmer weather.
The downward tendency of wheat was
also against the market. Oats were
fairly active. The buying by receiving
houses and cessation of Hutchinson's
selling gave more steadiness to prices
after the early weakness. Provisions
were weak, with all the packers sellers.
They are said to be short, and are work.
ing against prices evidently i'll concert.
1t is usual for packers to attack prices
at this time of the year Tor the purpose
of weakening hogs. The old pork clique
was said to be marketing Its holdings of
September and October pork.
The leading futures ranged as follows: