St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-19
BROKE A FULL POINT.
The Wheat Market Set Back
by Bear News From
Abroad.
I'D 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. 19.-The wheat market got
,ad setback early in the day, from which it
lid not recover up to ! o'clock, when the
price of December was 1 cent under last
night, l cent under the opening price, and
out ~ cent over the low point of the session.
There were several explanations offered for
he break One was that Hutchinson did it
20 get market to buy wheat on. He did buy
III he could get on the break. Another was
hat the wheat bought recently by Linn and
his followers was sold out. The mos. reason
able view was that the trade expected cables
% 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
his 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
whest 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
Il 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 reaction of more than half
the loss on little good buying many of the
trade wondered what they sold out for. 1t
DelHS SATURDAY, tuSIc MAS uO ulspOSltlOn "
load up again, ana there WIS sort of
waiting market, without important news, the
rest of the session. S. ". White & Co., Durham
& Co., Poole and Hutchinson did good buying
at times Closing cables were A@s4d up for
California futures. There were unconfirmed
reports about export business at New York
Minneapolis reported a probable increase of
a half-m1llioD bushels in regular stocks for
the week. There were no export clearances
of wheat from Atlantic ports for the day, and
four ports cleared 1I6, 900 bushels of wheat
and 100000 barrels of flour. The action of
the market was: December opened at 81. 05,
sold. S1.O3s4 to Sl.O412 to $40. Is to OF at
l o'clock; May, Sl.U9 TO $l.08 to S1.OSSs to
S1.O81s TO S1.084. There was pretty good
buying of wheat before the close, and last
prices were at Sl.04ls for December
and Sl.08A for May, or about s4c lower all
around for the day. On the curb puts on
December wheat sold at $l.O3A, and calls
at Sl.049s. Puts on May corn were 535sc
and calls 54Ac. Corn acted little like
wheat all day. II opened strong and higher
on the wet weather. Then there was rush
TO realize on long corn, and in the end prices
were shade higher than last night. The
demand for oats was very light. The trading
was scattered and of scalping nature
Prices at the close were 13c 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 a range of 7l2c, and closed
that much higher Lard was lfeless, but
prices were steady and the close was without
change since yesterday. Ribs had range of
ebout sc. and closed at an advance of 242c
on Fridays resting prices.
The leading futures ranged as follows: