Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-14
MARKETS BY WIRE.
The Bears Obtain Control of Cereals and
Observation-Disclosures All Along the Line
-SpecuIators Anxious to Unload
Drift Of FOreiDD Adviaas

! ACKNOWLEDGEMENTS All Along the Line
spectators Anxious to Unload
| Drift of Foreign Advices.
| neutrality-suspicious. were a selling
| humor to-day. The sun was shining in the
wheat pit. which was regarded as bad men
| by the bulls. The corn and oats crowds were
! Jealous of the efforts that they imagined were
being made by the longs to unload their hold
1ngs. and watched narrowly for evidence con-
hrmatory of that suspicion. and the packers
were apparently of one mind regarding the de-
STABILITY Of selling provisions. The result was
a decline all along the line, amounting to 13Sc
in corn. 134c in oats, 3711c per barrel in pork,
1I74@20c IN lard and 2O@2215c in short ribs
Wheat opened at about &c decline since the
close OF Thursdays marker. Trading was not
SO brisk as on the day before, but it was still
nervous in character. The cablegrams were of
the same tenor as the day before. denoting
hrmneSs in English and French markets but
with apparently an impression prevailing there
that they had gone about far enough for the
present in advancing prices. The weather was
favorable here for the winter wheat. and
France reported improved climatic conditions
there also.
The trend of values was downward but for a
long time every decline was recovered from.
Later, however. sellers evinced more conf
dence. With many radical reactions on its
downward course the price of the May delivery
was down to 81 Olzs about half an hour from
the close of the session. The closing cables to
the Board of Trade quoted slight decline in
hour at Paris without any change in the price
OF wheat. Berlin was up about Lc per bushel
Tor futures of wheat, London Unchanged and
Liverpool was Id higher for California wheat
on 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
81 O1A. ~
There was an agitated seance in the corn pit.
with strong desire to unload. This had been
observed by the scalpers for the past two
days. but the holders did not press their offerA
lnsS until to-day. There was slump in prices
Wnlcn started on its course soon after the OPEN
ing. The opening was again wild and sagCed
with sales at 6S14c for May, and within few
seconds 1t was realizing at 6331e in one corner
OF the crowd. The closing price of the NAV de-
livery was 6ls4@6l7ac. compared with 6S3Sc at /
the close of the preceding session.
Free selling OF long oats. led by Bartlett 4
July, taking 100000 bushels in a lump. The
market was fairly active. but the trade was all
OF scalping nature. Nav started al 653Ic; sold
OF to o2c; recovered to 521lc; weakened to 5l5Sc
and closed at 5l1sc.
There was general unloading of provisions
and decided slump in prices. The big heavy
seller of the day. as he has been for two days
preceding was Armour, and Cudahy is geDer-
ally credited with having been a heavy buyer
IN the same time. Unloading IN the course of
the day became quite general. and the packers |
all took hand i'll supplying the wants of any,
one who expressed a wish to buy There was a |
little strength III the first few minutes, MAY |
pork starting at Sl1 l5 and selling up to SlI 25,
but that was quickly succeeded by offerings so |
heavy that decline started which lasted 20 |
the Close with but slight reactions.
The leading futures ranged as follows as COR
rected by John NJ. Oakley & Co., 45 Sixth street
members Chicago Board of Trade: