St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-15
JUST A TRIFLE LOWER
The Wheat Market Crowded
With Sellers, and Conf
dence Very Shaky.
Enormous Lines Of Long
Wheat Dropped and Short
Lines Covered.
Corn and Oats Active but
Weaker, Hog Products
Closing Quiet.
Stocks Generally Dull and
Featureless, North Amer
lean Rallying.

CHICAGO, Nov. 14-There was bad break
down in wheat the first hour from winch
there was but slight recovery up to the last
hour. The extent of the early break was
2l.c in this market, and the best recovery,
made about noon, was but lie from the bot
tom. The markets at Duluth and MinneapO-
lis broke about &c, and showed even less re-
eovery. IC was rumored that 4 quasi agree
ment among few of the big operators to
elevate prices to a certain figure had been
broken, and that this caused the avalanche
of long wheat. 1t was an avalanche of
wheat; great loads of wheat were first thrown
on the market by Cudahy and by Counsel
mans house. This was followed by free
selling ty Durham Il Co., ST. White 4 Co..
and many other large commission hoIses and
the trade generally. 1t was estimated that
commission houses sold. or tried TO sell, no
less. than Il, 700, 900 bushels on stop orders
lie under the close last night. The pit was
not without good buyers, but the offerings
were too great TO be taken care of. Linn
bought at stages all day. Bloom and Stat1er
bought on the first break. Mitchell took Il
lot of May wheat Everingham Co. bought
No heed was paid to ordinary news early.
II was lack cf confidence first then fear
then the panic to sell. \ rumor of London
bank failure, not confirmed; lower Liverpool
and down went the market. Private cables
TO Dunn IL Co. and others. quoting prices
lower abroad, added to the distrust. After
the crash was over the trade began TO take
back some wheat. While they we've doing
this New York reported some fifteen
boat loads marked for export; of which
seven loads were confirmed. This helped the
covering. Other dispatches said the United
Kingdom and the continent were trying to
buy. On this sort of news anda natural re-
action, prices moved up lie. Before l o'clock
the selling fever was on again. and Decem
Der sold back 10 9334c. The ordinary run of
news was lost sight of. New York cleared
$4,000 bu wheat and $4,000 bblS flour.
Chicago receipts were over the estimate at
153 cars, with 10 cars for Saturday. There
was second slight recovery the last ten
minutes, and at the close prices were about
1c up from the bottom, with December 944c.
On the curb al p. N. privileges on Deem
Der wheat were at 92S4c for puts, and $3.50
for calls. Corn was also weak and as in
wheat there was general liquidation. Every
one who had corn was frightened into sell
ing and the market became almost panicky.
The close was l2c higher. Oats kept pace
with other cereals. The market opened
weak and excited, and when the price
reached 14c for May number of stop loss
ord ers came out, which carried prices down
with a rush. There was recovery of 94c
from the bottom, but prices at the close
showed a loss from last night Of lac. The
provision market was in sympathy with corn
and declined. Pork at the close showed a
loss of 10 to doe; lard 10 to 12l2c, and ribs,
zig 10 1Oc
The leading futures ranged as follows: