St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-04-23
FURTHER REDUCTION.
The Excitement on Change
Continues and the Bears
Send Wheat Down.
The Bear Contingent Seemed
to Get the Benefit of All
the Action.
Corn and Oats Sympathized
With the Weakness in the
Wheat Market.
The Rise in Wabash Followed
hyy Sir,i1a ,, Mououo IN
The Rise in Wabash Followed
by Similar Movement in
Other Goulds.

CHICAGO April 22.-The excitement in the
wheat pit on the board of trade was contin-
ued to-day. AS on yesterday, the bears had
the best of it, and they improved their op-
portunitles by forcing a further reduction in
values. There were occasional rallies but
he general tendency was downward, and
the net result Of the days trading was re
duction OF Else in values. The other articles
dealt in sympathized with the weakness in
wheat, and show a material loss in prices.
At the tap of the opening bell the bears
swarmed into the wheat pit. apparently re-
solved to recoup themselves for the losses
which they sustained during the re-
cent advance. They played bold
game, and their onslaught was IT.
resistible. The New York contingent
which lead the advance was selling out its
wheat, and most of the local bulls followed
their lead, though they were inclined to buy
on the breaks on which they were losers. as
the breaks came in too rapid succession. The
bear contingent seemed to call the marke
successfully at all times, and got the benefit
of all the action there was in it. They put
out their wheat on the hard spot and took it
back on the breaks, and again flooded the
market when il rallied. Bulls who had
hoped for the prices to take a decided turn
higher. were in this way drowned out several
times. Schwartz, Bloom, Linn and several
others OF this class were working
carried the day at the start in spite Of
the fact that the opening English
cables were strong and firm, and London
quoted cargoes higher. Later cables were
all lower Liverpool showing l2d decline.
London was quoted easier. and Paris SG@9)
centimes lower for -four and 65 centimes
lower for wheat for future delivery the lat
ter equal to about 41sc per bushel decline.
domestic news was mostly bullish. Brad
streets reported a decrease for the week of
1,325 coo bushels in available stocks of wheat
east of the Rockies, and decrease of 800 coo
bushels west. Pillsbury reported sales of
1900 sacks of flour TO London at top prices
and Milwaukee reported the sale of So 600
York. On the other hand, the weather was
reported as very favorable III France
for the growing crop. The receipts
IN the Northwest were somewhat larger. July
wheat started at S1.10@1. 1912, sold off to
Sl095s. recovered to 81 1Gl2, and then broke
to Sl.0SSs. After rallying to S1094 it again
eased off to Sl0S7S. closing weak at 81. 0S340
10s7s. May opened at Sl.12@1. 1912, and sold
off to Sill closing A@$Sc higher. Corn was
weak as wheat. Orders to sell came from
shippers and outside spectators as we'll as
froml ocal bears The latter covered some
of their short sales on the breaks. July
started rte at 66s4@61Ac, broke to 66ssc, rallying
to &c, broke again to 66c, and ranged around
66AQ66l2c thereafter. The fine weather
greatly increased the bearish sentiment.
Oats followed corn closely and was very dun
throughout the most of the session except
for the weakness which eliminated in a
break of lac. Provisions opened weak, in
sympathy with grains and because hogs were
lower on account of heavier receipts than
were expected There was a slightly strong
er feeling is the session ad vanced. July
pork started at S13, sold to S12.S0, and recog-
cred to S12.S7I2. Ribs were weaker relatively
than pork at the start. but later that con-
dition was reversed. Ribs were 12I2@15c
lower at the close than on Tuesday, and lard
10c lower.
The leading futures RANGED as follows: