St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-22
The Campaign Of the Bulls
Ended Abruptly and Wheat
Went Down.
May Wheat Was Sent Three
Points Below the Highest
Figures of Monday.
In Corn Longs Were Disposed
to Let Go of Their
Holdings.
The FirmnesS Of the Tone Of
the Stock Market Was
Not Impaired.

CHICAGO, April 21.-For several days past
the bulls in the wheat pit have had every
thing their own way, and the unlucky bears
have been gored and tossed numerically
1t was the bears turn to-day and they i'm
proved the opportunity by giving their oppo-
nents rib cracking squeeze. The net result
of the days trading was a decline in the
price of May wheat of 1ssc com pared with
the closing price yesterday, and of 33Sc from
the highest point reached today July de-
clined lac compared with yesterdays close
and &c from the highest of The day. The
weakness in the leading cereal was taken adj
vantage of in the other speculative pits to
depress prices, and as a consequence. COM
pairing prices with The closing figures
yesterday, corn is off 1as0IIac, oats,
acc; pork, 30c: lard. 10c. and ribs, zoe. The
day started with fine prospect for the con-
tinuance of the bull campaign. The early
cables indicated decidedly higher prices
abroad. and commission houses were over
Whelmed with buying orders. The result
was that around the opening prices were
from lc TO &c higher than at the close yester-
day. That was the high point for the day,
however. Roche, Linn, Driver, Bloom and
all of the older heads among the bears seized
upon the opening bulge as an excellent op-
portunlty TO sell. They called the market
successfully. 1t sold shortly after noon near
ly &c below its early high point, and dur
ing most of the session was 1Iac to
&c off from the opening figures
\ great deal of long wheat held
on thin margins was dumped overheard
on the declines, which afforded the short
sellers an excellent opportunity for taking in
their profits. The bears were materially
aided by reports from New York Milwaukee
ana ST Louis that wheat bought for export
was being resold because prices were above
the export point. and that prominent houses
with foreign connections in the first named
city were operating OH the bear side in the
June ana December futures. Aside from
these dispatches and the cables there wss lit
lie news atoat. Roche had a dispatch from
Round Lake. s. d., which said the spring
wheat was up and growing nicely. Other adj
wees from various parts of the Northwest
were contradictory. Some said that little
seeding had been done. The export clearings
were quite small Once started downward,
the market showed small recuperative DOW
ers, and with Il few rallies on realizing DUR
chases, continued TO recede throughout the
session. July wheat started out with sales
anywhere from Sll3 to SIl3la and sold to
81 1913. 1t broke to Sl.11L2 on sales by Bry-
ant, Roche, Linn and Driver ana was then
lifted TO Sl.l2$4 by purchases by these sellers,
VINO were taking profits and by Hutchinson
ana White u Co. The selling on the bulge
was by the same people, who engineered the
hrst break. This raid carried it down 10
SLlils. closing cables from Liver
pool and Antwerp were so much
higher that it rallied to ST. I2Is.
but the renewed selling sent it
down again TO SLICES, the lowest point of
the session. May started at Sl.156li L. and
following the July future touched Sl.l2Ss as
The low point. Corn was weak from the
start. July started out with sales from 60Ac
d2wn to 6N7sc. and subsequently declined to
6'ssc. Longs were disposed to let go of their
holdings and there was a little more dispos;-
ton among the bears TO sell it short Oats
were quiet and rather uninteres,ing The
market did little more than follow corn, clos
ing at the bottom prices of the day.
The market for provisions opened easy.
and without excitement at some decline
from the closing prices of the previous day,
and continued in a dropping condition dur
my the entire session, being at their lowest
prices for the day at The close.
The leading futures ranged as follows: