St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-03-08
SOMEWHAT NERVOUS,
Nay Wheat Sells Of to One
and One-Eighth on Chi
cago Change.
Prices Fluetuating and r.
regular Through Trad
ing Hours.
News Of Heavy Flour Sales at
Minneapolis EXerts An
influence.
Material Losses in Wall Street
Stocks All Along the
Line.

CHICAGO, March Price fluctuations in
%hdat were nervous and irregular nearly all
DAY. The first half of the session was par
ticularly exciting. Despite the beariSh fig
ures given out by Bradstreet, and the heavy
receipts at Northwest and Southwest points,
the market made some rather high quota
lions. The principal cause of 1t was the eX
lremely firm tone of the foreign cables and
RdviceS of heavy sales of flour at Minneap-
Dlis at an advance of $50 Zoe over previous
prices. The bulls were pinning their faith
more particularly TO the foreign news. Paris
and Berlin said that speculation had been
attracted by the reports of crop damage
in France, and the quotations bore
out the assertions. Among the real
simon-pure professional spectators here
there was little actual demand for wheat. st.
Louis made quite show of buying May and
Iulv but was meanwhile very busy putting
out line of short wheat for July. North
western longs" who sent in the advices of
heavy flour sales, were also selling out on
the bulges. Cudahy took advantage of the
rises TO sell moderate quantities 4n order to
get good average. May wheat started at
S1.01Ss. sold off to S1.O04s@l.0 Gs4, and then
speedily climbed TO Sl.0ll9. The wheat sold
on this advance carried it down to S1.00a4,
and il held steady around S1G05s for long
time. English farmers deliveries while
slightly larger than last week, were never
theless sold at an advance of Sd
per quarter over the average price
of the preceding week. Toward
the close of the session the weight of the long
wheat began to be felt and prices weakened
materially. May wheat sold off to S1.0018.
Consolidating Beerbohm's and Bradstreet's
reports of stocks of wheat i'll second hands
in Europe, afloat for Europe and in the
United States and Canada, on March ], would
make 90 523, 900 blu or 1851, 600 bu more than
last year. Kennett-Hopkins' London special
said: Argentine cables say the situation is
bad. The stoppage of the payment of Buenos
Ayres loans is inevitable. A fresh currency
bank took 100000. There is an uneasy
feeling. The stock market declines on con-
tinued liquidation. Beerbohm's clos
times higher; -four, 1 franc 30
confines higher. English country markets
Cd TO Is per quarter higher" An Odessa cable
TO W. G. Mccormick d Co. said: Navigation
of Black sea is open again, but wheat re-
ceiptS from the interior are very SMALL
but finally gave way under heavy realizing
sales by longs and less heavy sales by people
who thought 1t high enough 10 sell short.
May corn started at 59S4c, sold to Soc broke
10 5S5sc on estimates of heavy receipts for
next week. New Orleans cleared 10000
bushels yesterday for Liverpool. OATS fol-
lowed corn. Realizing sales by Schwartz, Ed
wards and others carried May from 50l2c
down to 49l2c. Provisions were easier on
short selling by packers. The market was
not very weak, as sales were not much more
than sufficient to supply the demand.
The leading futures ranged as follows