Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-09-20
AN IRREGULAR MARKET
With Some Decidedly Weak Spots Was the
Run of the Day at Chicago-The Bears
Got the Better of the Argument-Pork

With Some Decidedly Weak Spots Was the
Run of the Day at Chicago-The Bears
Got the Better of the Argument-Pork
and Ribs Have Drop.
CEICAGO-while the wheat market ruled
irregular to-day and developed some very
weak spots, the general tone was one OF
strength, and most of the day prices were
above yesterdays close. Cables were rather
firm at the start and domestic markets were
steady. December opened at -9SsGg97sc'
holding for a considerable time at soc. Then
s. v. White & Co. put big line on the mar
ket and New York and st. Louis sent selling
orders and prices began to weaken. me
heavy receipts at Minneapolis and Duluth,
1,14O carloads, furnished additional ammunl-
tion for the bears and the market soon became
demoralized, December selling of to CSC, but
with only light business. A lower Liver,
pool cable coming in about that time proved
a weakening factor. On the break there was
a season of active buying, White q Co. tax
ing back most of the property they had SOLD;
and other buvers coming, December reacted
sharply to 99Nc. From this there was an
other decline to 9S5Sc. This was followed In
turn by slight reaction. During the last
hour the market continued nervous. After
declining to 9616c, there was rally 70 S9c,
break to 9sssc and an advance to 991sc, with
the close at $3.50.
Brodstreet's reported the clearances OF
wheat and flour from both coasts at 7,5OOJlO0
bushels during the week, ana over
bushels for II weeks. The charters OF vessels
from here, including those made yesterday
afternoon. were about 10000 bushels. The
most bearish item of news was the decline
in the price of farmers deliveries in Eng
land, which showed drop of about l4c dur
ing the week. The explanation cabled was
that the quality of wheat offered was very
poor, being new and damp, owing to the late
wet weather. The final conclusion reached
in regard to the Russian wheat export pro-
hibition scare is that the expectation OF
wheat over the frontier to Persia has been
prohibited. The business to-day was mostly
in the hands of the professional.
Corn was decidedly weak and lower, IN
fuencad by the fine weather for the crop,
which is now believed to be practically safe
and crop of 1000, 0G0 bushels assured.
Under these circumstances the selling was
urgent and, with no one disposed to extend
any support, the drop was easy.
October started at 51@52c, against 525So at
the close yesterday, and sold down to 5011o
without rallying. Then the market hrmed
up through the purchases of early sellers
who were willing to take their profits.
During the last hour it was steady, with Oc-
tober iuctuating between 6l95l72c, but it
became weak again at the last and closed at
5O5sc.
Oats were easy, but held up better than
corn showing a loss of only 1880.
Hog products were lower on free selling
and the weakness in corn, but rallied some
during the latter part of the session. Pork
closed 5@l235c lower; lard is unchanged and
ribs are 211G71lc lower.
rected by John NJ. Oakley & Co., IS Sixth street.
members of Chicago Board of Trade.