St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-08
BELOW ONE DOLLAR.
December Wheat SlumpS to a
Point That Makes Oper-
atorS Dizzy.
The Chicago Market Seriously
Affected by fluctuations
in Wall Street.
Corn and Oats Tumble In
Sympathy--Hog Prooucts
Closing Tame.
The Stock Market Weaker
Than at Any Time in
Six Months.

CHICAGO, III. Nov wall street democrat
tzed the Chicago wheat market. Tho day
Opened with the strength of the close yester
day carried over. Receipts were but moder-
ate at PRIMARY markets, while conditions
favored large receipts. Cable adyices were
steady with firm feeling abroad. The mar
set started with December III Sl.OUIS, and for
the first half hour sold at Sl.OO7S0l.U1lS. 1t
was not until near noon that the price took
sharp turn down 10 81. here there was good
buying as on yesterday. Al the same time
closing cables quoted slight advance at Liver
pool and The reports on sales Of cash wheat
quite favorable. New York reported TWO
loads for export. Duluth sales for export
reached loo, 60 bu. and for millers' $4,000
bu Detroit had sales of 10 COO for mlliers.
These things helped to steady the mar
ket for a while. But Wall street reports
grew worse. Stocks were going down al -
Ter cenL at q Jump, with 81. faul under 5u.
and other y e>tern shares off in proportion.
There were ugly rumors of failures aud
financial trouble in New York md abroad.
The unusual acuon {, f the governors of the
Bank of England aided 10 The alarm. Every
thin = indicated Il panic Ill securities on the
New York exchange followed by perhaps
other business failures. NO market could
stand against such an outlook. 1t was after
u O'clock when the panicky feeling was felt
in Wheat. those who had been The first to
SELL Crimson. Cudahy, Linn, Brosseau
and others-redoubled their sales. The early
buyers turned. and let their wheat so. The
gcalpers turned in with the tide and sold.
Stop loss orders came cut at each half cent
down, and the pit was in q turmoil. From
Sl.OGl3 at 1873 p. m. there was slide to
9SAc for December. and May sold from
ST. : early and ST. ola al mid day toSl.' Il
1efore clock. Then there was a quieter
feeling. but no important recovery. The
break from the close last night and the
best prices early was about Sc all around
There was some recovery in wheat the last
few minutes when December reacted to
81 sc at the close and May 10 S1.75l8c. Yes
sci room was taken for Go, 0uO bu of wheat
On the curb puts on Dt cember wheat sold at
.. Glc and calls sold az 81. The corn mar
ket market opened firm on light receipts but
weakened finally in sympathy to moderate
extent with the decentralization in the wheat
pit. Closing prices were $50 Ice lower. Re
ceipts, ., ears. Oats opened firm and ssc
higher. The decline in wheat and the causes
that produced it caused a sudden drop of
cent, but half Of ,bc decline was recovered
and the market closed only 1sc lower than
last night. Receipts. 1856 cars Provisions
were weak under the influence of the con-
tinued heavy receipts Of hogs and the de-
clining wheat market. Packers and scalpers
were free sellers. Pork declined l2l2@15c;
lard, 51l0e and ribs, 5G1.i2c.
The leading futures ranged as follows: