St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-05
MAY WHEAT BREAKS.
July Follows Suit on an EX-
ceedingly Dull, Inactive
Market.
Corn, Oats and Provisions Act
in Sympathy With the
Cereal.
Trading on Change Cut
Short by a Crowd Of
Sellers.
The Wall Street Stock Mar
ket Shows Considerable
Strength.

CHICAGO, April A concentrated drive at
the market was made by some OF the DeaVlest
operators as soon trading got under way,
and they were powerful enough to MAINTAIN
throughout the entire session the advantage
they secured at the start. Linn, Cudahy,
Ream and Roche were named as the prlncl-
pal members of the bear combine which
through the houses of SchwartZ-Dupee ana
Baldwin Farnum deluged the market with
their offerings. Bloom and Partridge each
ran independent bear establishments, and
the local crowd tailed after those leaders.
The result of the days operation in wheat
was break i'll May of 1890 and in July 1hsc-
Corn, oats and provisions acted in unison
with wheat The entire crowd started to I'M
derbid each other, offers 10 sell varying
al the way down from S1.05 TO Sl.O4l2, and
there was no buying to speak of at over the
lowest of those prices. O. II. Roche was
lucky enough to be alongside of broker
with an order TO buy 100000 bushels, and the
formers offer OF that quantity at Sl.O5 found
an instant purchaser, while other sellers less
fortunately situated accepted SLO4A very
thankfully at the same instant. Trading was
enormous for few minutes. but as num-
Der Of selling orders III the hands of commits
sion houses limited around Sl.05 were impos-
siple of execution, it was difficult TO account
for the very sudden change Freezing tenn
perature was general all over the winter
wheat belt, and further delay IN
spring wheat seeding operations was
the promise of the weather conditions
III Minnesota. The Dakotas, Iowa and Ne
brlska The public cable from Liverpool
quoted that market firm for wheat, but de-
cline from Yesterdays closing prices OF - TO
Id This was offset, however by the
board of trade London dispatch, which
quoted the latter market Ted to Is higher for
cargoes Of California. A Minneapolis miller
reported acceptance Of twenty-five carloads
OF patents made by cable yesterday, and
large buying orders from New York also
Some export business was reported from st.
LOUIS and elsewhere. and many orders for
-four to 90 abroad could not be filled for the
lack OF offerings, but these matters were
Intellectual in stopping the decline.
From Sl.0394. May wheat recovered
TO Sl.04Ss, hesitated which direction
10 take next, then slumped to S1.03ss. The
market lifted itself i'll weakly manner
when the closing cables TO the board of trade
came Iii, reacting May to S1.0375; but, al
though these foreign advices were of I'M
usual strength. there was no further re-
fponse and the bears continued in posse ssion
10 the close, which was at Sl.O36s for May.
The corn market started with sellers at 6Sl4c
for May and 65Ssc for july The few sales
which could be effected at these prices at the
opening were the highest priced that could
be effected all day. Weakness became very
pronounced and decline Immediately 10
61Ssc took place before 1t rallied again. There
was recovery to 6SlSc, and for some time
business was quiet ana the fluctuations CON
fined TO the neighborhood of 61s4c and
GSc, but ii again broke loose and slid off to
&c, recovering slightly, touching 613sc and
closing at 61l4c bid, or 1c lower than it did
yesterday
Oats followed the other cereals pretty
closely. The market was excited at The open
ing, when May sold at 5i5sc, with a few
trades as high as 54s4M547sc and others at
54l2c. The price went of TO 54c fuctuated
around 546154l4c and closed at the low point
of the DISCRIMINATING 34c decline
The hog market was quoted considerably
higher at The yards, and Influenced by that,
the provision market started strong. The
weakness in grain of all kinds turned prices
down and the closings were at near the bot
tom OF the days range.
Tie leading futures range as follows: