St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-14
EVERYBODY SELLING.
The Sun in the Wheat Pit Re-
garded a Bad Omen by
the Bulls.
Trading in All Kinds Of Prod
, uce Of a Nervous Char
/ acter.
The Market Fairly Active, but
Trade of a Scalping
Nature.
The Wall Street Prices Drift
+ Around in Extremely Mar
row Limits.

CHICAGO. March l3.--The spectators were
in selling humor to-day. The sun was shin
ing in the wheat pit. which was regarded as
bad omen by the bulls; the corn aud oats
crowds were jealous of the efforts they i'm
agined were being made by the longs to un-
load their holdings, and watched narrowly
for evidence confirmatory of that suspicion
and the packers were apparently of one
mind regarding the desirability of selling
provisions. The result was 4 decline all
along the line, amounting to l$sc in wheat;
Use i'll corn, lac in oats. 31lac per bbl in
pork l7la0?oc in lard ami 200?9Lqe in short
ribs. Wheat opened at Si.02 IS, or about $sc
decline since the close of Thursdays
market. Trading was not SO brisk as on
the day before, but it was still
nervous i'll character. The cablegrams were
OF the same tenor aS on the day before, de-
noting frnness in English and French mar
kets. but with apparently an i'm pressi on pre-
vailing there that they had gone about far
enough for the present in advancing prices.
The weather was favorable here for the win
Ter wheat, and France reported improved
climatic conditions there also. Receipts in
the Northwest were heavy. but there was
good demand for cash wheat. Foreigners
were varinusly said to be buying and selling
III the different markets of this country. The
trend of values was downward, but for a
long time every decline was quickly re-
covered from; later, however, sellers
evinced more character With many
radical reactions OH its downward
course the price of the May delivery
was down to $l.0l7s about half an hour from
the close of the session. The closing cables
TO the board of trade quoted slight decline
| Ill flour at Paris. without any change in the
price of wheat. Berlin was up about lac per
busher for futures of wheat. London was
unchanged and Liverpool was led higher for
| California wheat Oh the spot, but lower for
! the later futures. Antwerp showed slight
! advance in wheat. The tone of the trading
continued heavy after the break alluded
| to above. May sold down TO $l.01s4. There
| was an agitated seance i'll the corn pit, with
| strong desire 10 unload. This had been OBJ
| served by the scalpers for the past two days,
! but the holders did not press their offerings
! until to-day. There was slump i'll prices
| which started on its course soon after
the opening, The opening was again wild
and ragged, with sales at 63l4c for May, and
| within few seconds it was realizing 63sdc
| i'll one corner of the crowd. The closing
| price of the May delivery was 6ls4@6i7sc
! ceding session. Free selling of long oats led
! by Bartlett Fraser caused a break. Fowler
was buyer of July, taking 100000 bu in Il
| lump. The market was fairly active, but the
f! trade was all of scalping nature. May
| Started ut 53s4c sold off to SIC, recovered TO
324c. weakened TO 519sc and closed at l75c.
There was general unloading of provisions
and a decided slump III prices. The big
! heavy seller of the day, as he
| has been for the two days pre-
| ceding, was Armour. and Cudahy
is generally credited with having been q
heavy buyer in the same time. Unloading
| in the course of the day became quite gen
eral, and the packers all took a hand in sup
| plying the wants of any one who expressed a
wish to buy. There was little strength in
the first few minutes May pork starting ut
| $l1.I5, and selling up TO Sll21, but that was
| quickly succeeded by offerings so heavy that a
decline started which lasted to the close
with but slight reactions.
| The leading futnres rangei IS follows.