St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-14
A CLERK BLUNDERED,
Incorrect Figures on the Rus
sian Crop Make Chicago
Traders Sell,
Causing a Sharp Break in
Prices at the Outset of l
the Day.
Wheat and Corn Both Closed
at a LoSS--OatS and Pork
Up a Bit. =
Prices Of Some Stocks We're
Forced Upward on Wall p
Street.

CHICAGO, Nov. 13.-The wheat market was
unusually unsettled to day, due, however,
not so much TO external influences and re-
ports as 10 blunders of one of the posting
clerks. After the various bull and bear re-
ports had been coming in for some time and
eXerting their contradictory influences, some
Russian crop figures purporting to come from
an English journal were posted. To the sur
prise of all, these figures showed the Russian
crop of wheat with other cereals to be large
ly in excess of last years crops. For a few
minutes everybody seemed to want TO sell at
once, and or course sharp break in prices
followed, the market declining 1SsG1lssc, or
TO the lowest point III the day. a second
calculation showed that the figures as first
presented were wrong and made the yields
smaller all around than last year. and par
tial recovery of the early decline followed.
English cables were stronger, Liverpool
being quoted l461l2d higher, and London I'M
changed. Continental markets were weaker
Berlin being 1140ll2c per bu lower. and Ant
werp 1850 Der bu lower. Nothing definite
was heard regarding the Russian ukase some
advices stating that it might go into effect
Monday and Others stated tonight Reports
from New York, fifty-tWo boatloadS taken
for export. Export clearances from four
ports aggregated about $4,000 nu wheat and
-four In addition. New Orleans shipped
$4,000 bu Arrivals III the Northwest were
larger. Receipts at Duluth were $40 cars
and Minneapolis 3Ss cars, total of 964 cars
against S5S cars yesterday. and 67S cars year
ago Local receipts were 3i5 cars of which
3 cars were of contract grade. Withdrawals
from store, 3I3569 bu. Receipts at all
points aggregated 1,552.725 bu. and
shipments from same were ,4529i9 bu.
The export clear6nces from four ports were
$1,000 bbls of flour and 6Of, 456 bu of wheat.
The opening was 34I1Ic higher than the clos
fUTrcS o. v
weakened off and declined Sac. then rallied
slightly about SSc, but again declined. this
time lSs1l5sc, then rallied lac, weakened
and closed about 5sc lower for December and
SEC lover for May than yesterdays closing.
November corn, which opened at 5.l4c and
sold as low as 5yIzc. closed ct 5IIsc, or lsc
lower than on the previous day. Year
which closed yesterday at 45c, rested to-day
with 43c yesterday.
Oats opened firm and Loose higher,
through sympathy with wheat and corn, but
made decline of I261s4c on Secretary Stones
mistake in reducing the Russian crop TO
bushels. The market struck bottom at 3ll4c
for December and 315s03l34c for May. The
opening prices were 3 s4c and 32Ssc respect
lively. There was reaction from the low
point TO 3 C for December and 336l}2Isc tor
May, caused by the posting OF the corrected
Russian report and some of the early sellers
buying in The market closed steady at 30l2c
for December ard 3l7s033c for May.
Trading was without particular feature in
the provision pit and prices were without
much change. The market was easier in
sympathy with the decline i'll wheat and
corn, but recovered some toward the end and
left off at slight improvement in yeSter-
days final quotations. December pork de-
clned to SS.j5, and closed Mt $50; January
opened at Sl1.35, and closed at SlI.37l2. Lard
closed 2i2c above the prices at the CORE
spending time yesterday, and ribs are with
out change.
The leading futures ranged as follows: -