Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-09
A BLUE TUESDAY.
The Accommodations of Cereals Depress All
Grain and Produce Markets at Chicago
Corn Nervous and UnsettIed-A Boom
let i'm Provisions Soon Nipped.

The Accommodations of Cereals Depress All
Grain and Produce Markets at Chicago
Corn Nervous and UnsottIed-A Boom
let in Provisions Soon Nipped.
CHICAGO-The enormous receipts which
had accumulated since Saturday was the
principal reason for drop of 15@Iszc in the
price OF wheat at the opening of business
this morning The most palpable effect of
the heavy run of wheat of late is that the
cash article, which about three weeks ago
commanded premium over the December
delivery, to-day sold at discount of nearly
SC PER bushel. The cables reported very
weak markets abroad and from the private
foreign advices received during the progress
or the session the tendency OF prices there
cOntinued to be downward.
The opening range for December was 996
g@4c against 81 Oo5sal OOs4 at the close on
Saturday. There was heavy business done
in the pit for the first half hour by which
time the prices had declined to $3.50 for De
Ccmbcr. but although that was the point at
which buyers had the protection of the puts
II did not bring iii enough of that business
10 lift the price more than &c up to about
L O'Clock, and, in fact, it dipped on one of
the counter reactions to 9S14c, and remained
for some time liteless and heavy at around
that price.
lie most encouraging point to holders was
in the movement of wheat from the sea-
board, which was over 900 600 bushels The
cash demand improved Also and allowe ed of
some good business between here and the
scabOard, and the increase in the visible SUM-
ply was only about half as much as was
looked for. These bits of news caused q STAY
in the downward course and n reaction to
gS'sc, the market closing at $3.50, or : cents
lower than on saturday.
The corn market WAS nervous at the OPEN
Ing. 1t was pulled in a downward direction
by the receipts since saturday. 1t was
drawn upward by the cool weather through
out the corn belt and reports of the condi-
tion OF the crops of Wisconsin and Iowa
The former was said to promise not over
half a crop, and third OF the crop OF the
lAter, 1t was reported, would reQI ire 30
days more of good warm weather to mature
it. and the average condition had declined
from 10 to 81. The opening was over a wide
range of prices. There were free sellers of
September at csc, but no buyers at over 672
G67l2c. October was offered from 59c down
10 5s1ac. There was quick reaction to 5g15c,
when II WAS seen how readily the first offer
ings were absorbed. The pit was palpably
in fear of the dealings of the clique and i'm
mediately after the first brush of activity
was over the scalpers took their cue from
" hat they could discover of the movements
OF the manipulators. The market had many
rccurrent nts OF alternate strength and
weakness, selling as high us 593sc and down
10 5Sc, but in the end it rested at 5S3<c or
only &c decline since Saturday.
Oats were dull and fluctuations were mar
row.
Provisions started off strong, and for a
time it looked like a boom. October pork
sold from $ll l25@ to Sll 2715 in a very few
minutes. Then the longs attempted to real
ize but found few buyers The selling pres
SUR. rapidly increased, when the market
wea kened and soon went all to pieces Octo-
Der declined to $40 60. There was a rally To
SO So but the pressure was renewed and the
market again broke, going this time to $40 S.
and the close was only 23c higher Pork
closed with loss compared with Saturdays
close OF 55G6216c. Lard lost l214@I715c and
ribs lost 271%c.
The leading futures ranged follows as cor
rrct,d by John NJ. Oakley & Co., Is Sixth street
members of Chicago Board of Trade: