Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-01
BULLS BADLY BITTEN.
They Were Heavily Stocked in Expectation
ofa Rise Yesterday, but Were Disap-
pointed-Wheat, Corn, Oats and Pro-

They We're Heavily Stocked in Expectation
ofa Rise Yesterday, but Were Disap-
pointed-Wheat, Corn, Oats and Pro-
visions Are All Materially Lower.
CHICAGO-The bulls in wheat were dis
appointed to-day. They were loaded with
grain and expected to sell out at a good
profit. The opportunity was not furnished
them, however, for at no time during the
session did prices go as high as the closing
figures last night, and the close was M@1Ac
lower than the then prices for the various
futures
Some of the early news was rather favora-
Bile to their hopes. Liverpool was Id higher
on spot wheat and I'D on futures, and Paris
was quoted 1o@30 centimes higher according
to some private cables; but London cargoes
were 215d lower. Receipts were s4 carloads
in excess of the estimates. The weather
was fine for harvesting, and corn was de-
cidedly weak and lower. The latter pieces
of news undermined confidence little, and
when it was discovered that all domestic
markets were starting OFF on a decline and
that New York, which has for some days
furnished most of the bull stimulant. was
selling heavily, the crowd quickly followed
suit, and in the anxiety to get rid of their
holdings began making concessions.
The later cables quoted Liverpool as lower,
good weather in the United Kingdom and on
the Continent. and the iiquidating became
more eager There was not much individ-
uality in the selling but everybody seemed
to have some property he did not want and
others seemed to be Indifferent about OBJ
tanning possession of it. The result was
session of much weakness and q drop of
about cent from the early figures.
December opened at l4@9015c and gradu-
ally receded to S93s@S913c. The market
ruled dull and narrow during the last hour,
and December kept most of the time at S913c
and S95Sc. The Board of Trades closing
table from Paris was 10@l5 centimes higher
than yesterday, and Liverpool was also
higher. This news helped the market a lit
tie and the close was at s934c. Nearly all
private cables from the Continent quoted
lower prices, and even the Boards cable
give the decline at Berlin at marks on July
wheat. Crop prospects continue brilliant,
ready commenced in Minnesota with Yields
ranging from 25 to 81 bushels per acre. South
Dakota reported the wheat crop assured,
and North Dakota wired that two weeks
more would bring the crops to maturity.
The prediction of frosts in the Northwest,
which gave the corn market a boost near
the close yesterday, was not fulfilled On
the contrary, the weather in that section
was clear and warmer. As a consequence,
corn had bad break to-day. Sales of Sep
tember were made around the opening at
anywhere between 5634c and 571lc, and it
soon sold below the former prices. The
weakness in wheat and heavy estimates for
tomorrow were also weakening factors. Re-
ceiver had heavy selling orders, and the
clique made but feeble effort to stop the
decline. September broke to 5613c; reacted
to SIC; dropped to 561ac; advanced to 564c;
again touched 56Lc; reacted to $3.50, at
which it closed.
Oats was weak in sympathy with corn
and on an excess of so cars in the receipts
above the estimates. The close was Ac be-
low yesterdays final figures.
Hog products were lower largely in SYM
pathy with the weakness in the grain pits
and especially in corn. September pork
sold from $l1 M to s11 3714 and closed at
$11 321l, loss of 10c compared with yeSter-
dav Lard and ribs lost &c.
The leading futures ranged as follows, as
corrected by John NJ. Oakley & Co., IS Sixth
street, members of Chicago Board of Trade: