St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-10-27
Volume of Business on Chi
eago Change Large, but.
Prices Down.
Big Increase in the Visible
and Heavy Receipts Cause
the Days Loss.
Corn Held Up Well, Closing
Higher, and Oats Were in
Sympathy.
Slow Trade and Insignificant
Changes in Wall Street ]
Dealings.

CHICAGO. Oct. 28.-ln the wheat market to-
day a good business was transacted, the
market ruling weak and lower. The open
ing was 1S0I2c lower than Saturdays closing
figures, ruled temporarily weak and then be
came firm. advancing 12c, but later developed
very weak feeling and prices declined 114c.
held steady for while and closed ss0s4c
lower than Saturdays closing. The specu-
lative offerings were heavy at the start, but
they were coon absorbed, influenced no
doubt by the stronger tone of cable advices.
There was very liberal increase in the
visible supply and very heavy receipts i'll the
Northwest, which exceeded any previous
Mondays receipts this season, Country ele-
vators i'll the Northwest also showed ma
terlal increase, the local receipts were largely
in excess of the estimates. and the arrivals in
the Northwest were enormous, 9, 40l cars; but
early cables were steady and there was good
buying on New York, led by Logan, Clifford
and Lamson, and prices were strong and adj
vanced some during the first hour Or so, De-
cember selling from 0is4c 10 G5lac.. But in
dicatons of big increase in the visible sup
ply and the large receipts in the Northwest,
with weak late cables and easier domestic
markets, finally turned prices downward.
The put prices held for time, but some
of the early buyers finally began 10 sell,
MITCHELL ana Mlllnllle-bOulnIn helDS con-
spicuous and weakness soon ended, De-
cember declined to 94lsc, reacted some, and
at IL o'clock was 9l14c. against 95Isc at the
close Saturday. When the visible supply
was posted showing an increase of 3.6)D.000
bushels, there was a rush 10 SELL and De-
cember went off To 94c, reacted 10 94ssc, ana
at O'Clock was 94ssc. Longs showed great
discouragement. anG liquidated freely, while
short sellers, led by Ream Cudahy and Part
ridge, sold heavily.
Corn started weak and lower. hut improved
later. and held up very well, notwithstand
ing the Weakness i'll wheat The local re-
ceipts were about eighty cars more than ex
pected. aud, with moderate demand, an
easy feeling ruled, November selling at 497Sc
and May at 42AGe l2ssc But New York was
higher, and the demand increased, Noyem-
Der improving to 51S8c, eased off 10 53lsc.
and at ~ O'Clock was 5Jlsc May sold up 10
$3.50. and at II o'clock was 4>I2c. The mar
ket turned quite strong during the last hour,
and October sold TO 5Cl2c November ad-
vanced to 5lSsc and May to 42S4c and ruled
firm. The decrease of l,022, coo pu reported in
the ylsible supply was the primary factor of
strength. but there was coed demand from
shippers. both for October and November,
and the shorts got alarmed.
Oats were quiet and easy. mainly on the
liberal receipts, which were 400 cars, against
an estimate of 800 cars. November sold at
29Ss0 ?95sc and at II o'clock was 29sac. May
sold at 3l14@3l5Sc, and at II o'clock was
31Ac. The market strengthened lttly dur
ing the closing hour in sympathy with corn
and the decrease of 327,G6O bu III the visible
supply November sold to 2JI2c. and May to
31l2c.
Hog products were rather firm at the start
but sold Off largely OIL the estimated liberal
receipts of hogs for to-morrow-3O coo head
and the weakness in wheat. January pork
sold at Sll.45 early off to Sl1.30, and at II
O'Clock was S.1.32I2. January lara sold from
SG.42l2 to S6.37Ie. and January ribs from
S5.97l2 to 500. The market continued weak
during the last hour, influenced largely by
the prospective heavy receipts of hogs. Jan
uary pork sold off to Sl1.3l, January lard to
S6.32Y2. and January ribs to S5.S.I2, but there
was slight reaction in all products. 5t