St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-09-13
The Leading Cereal Takes q
Drop Of a Couple OF
Cents.
Many Traders Rush in and
Try to Unload Their
Holdings.
Pardrige Unloads a Big Line
The Market Generally
Lower.
Richmond & West Point
Pounded Hard on New
York Change.

CHICAGO. Sept 12.-Wheat was weak all
day. and closed &c lower than yesterday. The
early news was bearish. and the cereal
seemed to have no friends. During the bulge
many traders got loaded with wheat, and
they lost no time to-day in trying to dispose
OF It, The doing so advantageouSly was rem
dered difficult by the bearish character of the
news. Cables brought no encouragement to
holders, and with the domestic market lower,
the receipts liberal and little in the way of
bull news the market had tired look and
the decline was easy. The selling was gen.
eral and rather aggressive. with the demand
slack and mostly confined to the covering of
shorts OH the break. At the opening Pard
ridge mad dozen brokers selling short, and
got off a big line. On the break which
followed he covered large amount
of it, but sold again on all the
hard spots. Ills operations to-day
reduced his line very materially. Hutchin-
son was also n heavy seller, using Waite. S.
V. White, Lamson Bros. and Parker. The
wheat sold was generally supposedto be the
long wheat taken on yesterday. Logan,
Baldwin, Milmine, Bodman and other par
ties were also loaded with selling orders,
while the scalping crowd was generally
leaning to the selling side. A small sized
war rumor was thrown into the pit but pro-
duced very little effect. The clearances
marked falling off, and the exports from the
three points yesterday foot up only 635, 900
blu, December opened at 91s4@9Slsc, broke
to 96l2c, improved to 97c and again broke to
96c, and strengthened to 96Ac; then, during
the last hour under the continued pressure
of sales receded to 95s4c. back TO 96lSc, at
which it closed, against yS4sc yesterday.
The corn clique was not actively trading
in that article to-day, and the market freed
from its interference, was weak and consid-
erably lower. 1t had a succession of slumps
and, though there were some reactions, the
decline continued to reach a lower level as
the session progressed. The traders felt
around for the clique at first, and were rather
wary III their operations, but becoming en-
boldened by the absence of the manipulators
and encouraged by the appearance and pros
poets for the weather and heavy receipts
they sold much more freely upon each sue
cessiye break until from 56l2c october had
got down to 53S4c and the close was Ac
higher, but &c lower than yesterdays closing.
There was moderate trade in oats within
a range of l2c, closing at the bottom figure,
and 1c lower than yesterday
The provision market was from firm to
strong for time near the opening, but
changed to decided weakness later in the
day. Pork and ribs suffered more in prices
than lard. which was upheld for some time
by the reported sale yesterday for export OF
between 1900 and 10000 tierces. The failure
of the frost to do injury to corn WAS weak
ening factor in hog products. The packers
sold freely of pork and ribs, and also moder
ately of lard. The close was at or near the
lowest prices of the day.
The leading futures ranged as follows