Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-29
LOWER PRICES ALL AROUND.
The Opening Figures in Provisions and All
Grains Are the Highest-Heayy Frosts,
on Which Bulls Depended, rallied to Ap-


Grains Are the Highest-Heavy Frosts,
on Which Bulls Depended, rallied to Ap-
pear-Other Markets.
CHICAGO-The bears in wheat and corn
had their innings to-day. Those in wheat
made dash at the market at the opening
and were encouraged by the news to follow
1t up with succession of heavy rushes and
prices closed 21sc lower than they did yester-
day. The corn sellers were almost as sue
cessful in their operations, knocking 21sc
off the previous days values. Oats and pro-
visions were also weak, but in a minor de-
gree.
Sensational reports telling of fee in the
wheat fields of North Dakota we're not re-
f1ected in the prices at the opening. private
advices and the signal service map failing to
confirm them. On the other hand, instead
of general buying movement, there was
pronounced tendency to the selling side at
81 O534, with many sales at about the same
time as low as 81 033s@$1 03]3. A recovery
to around 81 0354 took place in the course Of
the first 10 minutes trading This improve
ment was but of short duration, and the
market during the next two hours suffered
q series of declines with very little reaction
until noon, the price working on in that
time in series of spasmodic slumps to
81 011a.
In addition 70 the absence of damaging
frost the foreign markets were all lower on
improving weather in England and on the
Continent. There was a further break in
prices shortly after II O'Clock, 81 0lH being
reached, then &c reaction took place. One
New York message received about that time
said: "The wheat markets of the world are
in a panicky condition." and although it
was quite out of line with the closing
cablegrams, it led to some selling. New
York was persistent seller throughout the
session. The close was 81 01ss.
The dealings in corn were heavy, with the
sellers largely prevailing in their influence
night by the Weather Bureau limited its
appearance to narrow belt around Sioux
City, Ia, and spot or two in Northern
Wisconsin. As frost had been depended
upon by the bulls to put prices up its non
appearance acted in the opposite direction,
and prices took tumble Immediately upon
the opening of the market. October, which
closed yesterday at 591sc, opened at 5s15@
5S3lc. After selling to moderate extent at
5Ssssc, it recovered to 591sc, but instantly be-
came weak, and when wheat made its
biggest break it was ut its weakest dropping
to 5676c. There was O recovery on covering
by shorts near the close at 575sc.
Oats sympathizeds strongly with wheat and
corn. The market declined 13sc from the
opening prices, which were the highest of
the day.
The provision market opened from steady
to firm on the reported good demand for
hogs but the weakness which occurred in
wheat and corn had a depressing influence.
The opening prices were the highest of the
day, and the closing quotations mark the
lowest point, winding up with decline Of
171@@20c in pork, &c in lard and ribs.
The leading futures ranged as follows as correct
ed by John NJ. Oakley Il Co., As Sixth street. mem-
bers of Chicago Board of Trade: