St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-20
Old Hutch Gets Aboard Dur
ing the Slump and Buys
Heavily
Corn Active and Unsettled,
Oats Weaker, Provisions
Scoring An Advance.
The Stock Market Strong,
Closing With Material
Gains All Around.

CHICAGO, Oct. 1S.-The wheat ma rket got
bad setback early, in the day. from which it
CID not recover up to / O'Clock, when the
price of December was l cent under last
night cent under the opening price, and
but "a cent over the low point of the session.
There were several explanations offered for
the break. One was that Hutchinson did it
to get market to buy wheat on. He did buy
all he could get on the break. Another was
that the wheat bought recently by Linn and
his followers was sold out. The most reason
able view was that the rade expected cables
to come strong and higher. Instead the
public cable was I'D lower on futures. and
private cables said buyers holding off and
little early advance on the other side lost On
this sort of foreign news William Dunn &
Co. sold wheat. Linn may have sold some.
Lamson, Logan and others sold, and 1t was
said the st. Louis crowd put out more short
wheat here. Many small holders who bought
on the way up were ready to take profits if
the market had held strong, but when it
weakened they threw their wheat for tear of
a loss. All these things worked together to
bring about the early break of lac. After
the break was over the offerings ceased, and
when there was a reaction of more than half
the loss on little good buying, many of the
trade wondered what they sold out for. 1t
being Saturday, there was no disposition to
load up again. and there was a sort of
waiting market, without important news the
rest of the session. S. V. v hite & Co., Durham
q Co.. Poole and Hutchinson did good buying
at times. Closing ca bles were A@s4d up for
California frVQ es. There were unconfirmed
reports about export business at New York.
Minneapolis reported a probable increase of
half million bushels in regular stocks for
Ivppk ThQrQ UQroY rlo
of wheat from Atlantic ports for the day. and
four ports cleared / i6, 600 bushels of wheat
and 100000 barrels of flour. The action of
The market was: December opened at 81. O5.
sold. S1.U3% to Si.O4I2 to $40 rs to 1.O4 at
o'clock; May, Sl.U9 to SI.O9 to Sl.OSss to
ST. Sls to S1.OSA. There was pretty good
buying of wheat before the close, and last
prices were at S1.O4B for December
and S1.08A for May. or about s4c lower all
around for the day. On the curb puts on
December wheat sold at Sl.O3A and calls
at Sl.C45s. Puts on May corn were 535sc
and calls 54Ac. Corn acted little like
wheat ali day. 1t opened strong and higher
on the wet weather. Then there was a rush
to realize on long corn, and in the end prices
were a shade higher than last night The
demand for oats was very light. The trading
was scattered and of a scalping nature
Prices at the close were Hc lower. There
was considerable activity in the provision
market, which centered in pork in the early
part of the session and in ribs toward the
close. Pork had range of 7L2c, and closed
that much higher. Lard was lifeless, but
prices were steady ana the close was without
change since yesterday. Ribs had range of
about sc. and closed at an advance of 2l2c
on Fridays resting prices
the leading futures ranged as follows: