St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-11
WHEAT CLOSES LIMP.
The Spectators Acted on the
Old Maxim, "When in
Doubt, Sell"
Weather Indications Exerted
an Influence on a Sensi-
tive Market.
A Stimulating Influence Was
Manifested in All Lines on
Wall Street.
Harmony Among Railway
Managers Probably Ae-
counts for 1t.

CHICAGO. Jan. 10.-The wheat market
after averaging firm to strong for the greater
part of the session, closed limp and weary
at 14c decline. The spectators had their
ears on the stretch for pointer from WASH
ingtCn, D. c., but not being forthcoming,
fhev toward the close, acted in accordance
with the maxim, when in doubt, SELL
The market opened about steady, the price
at tie commencement of business being
identical with the closing quotation OF the
previous afternoon. Cables, except as re-
CARDS [lhe business in cargoes off coast and
afloat, we're easier in tone OF the opening
to-day than they were yesterday. Concern
ing the cargo trade. however, Beerbohm's
dispatch quoted it strong in all
positions. Snow was advised as hay
ing already covered up the wheat
plant over the greater part of the winter
wheat country, and the weather here was
mild and threatening snow or rain There
was an advance in silver and a rather conf
dent feeling concerning the future of the
money market. The foregoing features had
nothing in them sufficiently pronounced in
character to create alarm to either bulls or
bears, and consequently no great change in
prices took place. Later, however, dis
patches which came to hand were almost
uniformly bullish, and, under ordinary cir
eumStances, q material advance i'll prices
would most assuTedly have followed, but the
government statiStician'S forthcoming report
was regarded as of too uncertain character
TO bet upon. Contrary 10 the experience of
former like occasions there were no preten-
lions put forth by any one of The pOSSeSslO n
Of advance information from Washington,
md consequently the feeling of uncertainty
was unrelieved by the excitement which is
occasionally produced by few mendacious
dispatches. That Mr.. Dodge was more than
ordinarily feared, may be inferred from Inc
;tagnatiOn which reigned ali day. The sale
If 800 600 bu of No. l hard Kansas wheat
or export, via New Orleans, was reported to
J. Y. White and other houses here. Yester-
lay 10, 900 bu were cleared from New Orleans
or Liverpool. 1t was claimed later that the
It. Louis transaction was old business done
in December for January shipments. as an
offset to the sale reported, another dispatch
from St. Louis to Kenneth Hopkins said men
from Salt Lake were there Offering Utah
wheat under the present cash price or NO.
winter without finding buyers. This latter
point was scored by the bear party toward
he close, and the impression gaining ground
about the same time that the government re-
port was "agin" the bulls made the session
close upou very weakly looking market,
and at about the lowest price OF the day. The
corn market was dull but firm principally
npon al expected bullish government re-
port. The bull probabilities of Mr.. Dodge's
statement have been urged much more Ylgor-
OuSly imam the Quiet sue, anu nave Deeu
based mainly upon reports from those states
which were the heaviest losers by the past
seasons unfavorabe weather The fuctua-
lions were narrow and trading light and
featureless. The oat market was active at a
narrow range of prices in the active
future. Hutchinson, was the principal
buyer although he sold few around the
Top prices of the day. The country and the
local scalpng crowd were free sellers. Cash
oats broke 1c without affecting the specula-
ave market materially. The provision mar,
ket was firm early in the session, the good
demand for hogs which was reported from
he yards contributing little to the sus-
tanning of the price of the product. Armour
was a small and early buyer OF pork. He
was strongly suspected, howev s;E Of having
titles. The haste and unanimty of thep pack
ers in selling when the market appears stiff
enough to stand it has no apparent effect in
lessening the demand from outside. Cudahy
was again free seller, and on the call
The packers generally took hand in
supplying the demand. T he market closed
At about the lowest prices of the day.
The leading futures ranged as follows: